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Public company info - Yangtze Optical Fibre and Cable Joint Stock Ltd. Co. - H Shs , 06869.HK
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Yangtze Optical Fibre and Cable Joint Stock Ltd. Co. - H Shs, 06869.HK - Company Profile
Chairman MA Jie
Share Issued (share) 352,000,000
Par Currency Renminbi
Par Value 1.0
Industry Telecomm. & Networking Equipment
Corporate Profile Business Summary: The Group is principally engaged in the research, development, production and sale of optical fibre preforms, optical fibres, optical fibre cables and related products. Performance for the year: The Group’s revenue for the year ended 31 December 2019 was approximately RMB7,769.2 million, representing an decrease of 31.6% as compared to 2018 of approximately RMB11,359.8 million. Business Review In 2019, the optical fibre and cable price plummeted owing to the adjustment of supply and demand structure and the intensified competition in the optical fibre and cable industry. Against the backdrop of challenges, the Company focused on the medium and long-term strategic development and continued to implement its strategic measures. It kept a balanced price and volume relationship to reinforce its advantages in optical fibre preform, optical fibre and optical cable business and maintained its leading position in the telecom market. It also actively expanded the international market and developed a comprehensive solution to expand the segment markets in the industry. Due to industry impacts, hoThe Groupver, revenue and profit of the Company came under great pressure. Focusing on 5G construction requirement, during the Mobile World Congress 2019 organized in Shanghai in June 2019, the Company released its “5G comprehensive connectivity strategy” and “YOFC industrial internet solutions”, offering a range of customized products and solutions to various 5G application scenarios. In order to meet the requirement of 5G high bandwidth, the Company developed the global-leading G.654.E optical fibre with ultra-low loss & large effective area to be used in the trunk line of 5G networks. Currently, the operators’ construction of trial networks with G.654.E optical fibre has been completed and G.654.E realized remarkable results during the centralized procurement by domestic operators. Optical fibre preform is a key segment with the highest technical barrier and profitability in the industry. Therefore, the cost control of preform is a core factor influencing the profitability of each company in the industry when the industry chain comes under price pressure. In 2019, the Company’s independently-developed VAD and OVD preform manufacturing processes The Groupre optimized and their scaled capacity was gradually released, with production efficiency and cost structure further improved, highlighting the advantage of the multi-process integration of the Company In 2019, the Company made a breakthrough in the construction of overseas communication engineering. In Philippines, the network construction of the Company progressed The Groupll and new customers The Groupre continuously developed. In July 2019, a subsidiary of the Company in Peru entered into fThe Group’s agreements with PROGRAMA NACIONAL DE TELECOMUNICACIONES－PRONATEL in respect of the broadband internet connection projects in Ancash, Arequipa, La Libertad and San Martin respectively, which are integral parts of the national broadband project of Peru and cover over 1 million citizens in about 1,683 cities or towns with a total amount of approximately USD400 million. In terms of optical transceiver market, the Company will conduct business expansion and planning by coupling organic growth with external expansion. As discussed above, the Company has established an optical transceiver product line and a technological team, and is qualified to engage in China Telecom’s central bidding for optical transceiver. In January 2020, the Company acquired 51% of equity interests in Sunstar Communication Technology Co. Ltd., with capital contribution amounting to approximately RMB150 million. On the basis of scientific planning, the Company will leverage its reasonable investment in strategic resThe Group’sces to focus on the development of optical transceiver business and other relevant diversified business, with a view to adding new drivers for sustainable development of the Company. Prospects: In 2020, affected by the global widespread of coronavirus diseases (COVID-19), the market demand for optical fibre and cables fluctuated and the supply and demand was disturbed which posed greater challenges on The Group’s operation. While taking the anti-epidemic prevention measures, the Company will firmly implement its mid－and long-term development strategies, and timely adjust its business strategies in response to environmental changes resulted from epidemic so as to ensure the Company’s sustainable and healthy development: Promote organic growth of optical fibre preform, optical fibre and optical cable business: The Company will optimise the technologies and operation efficiency, and strengthen its advantages in cost structure. The Company will strive for excellent performance in the central biddings from Chinese telecom operators, and will deepen the penetration of targeting domestic private networks and overseas customers to enhance its market share. Strengthen technology innovation and intelligent manufacturing: By targeting the popular demand of the market, the Company will develop new products and integrated solutions with competitive edges, cultivate emerging businesses, and explore new growth directions and drivers. The Company will continuously promote the intelligent manufacturing so as to optimise the output and reduce the costs. Deepen the internationalization strategy: The Company will focus on potential markets and continue to realise the layout of overseas production and sales localization, strengthen the overseas coordination and integration, and emphasize the multi-business sales integration and expand customer base to achieve sustained overseas business growth. Develop relevant diversification: The Company will increase the investment in strategic resThe Group’sces, focus on the development of popular businesses such as optical transceivers and system integration, continuously enhance the core competitiveness of submarine cables and other businesses so as to promote the rapid growth of emerging businesses in an orderly manner. Optimize capitalized operation: The Company will leverage its technological advantages in the optical communication industry and consider the strategic investment layout targeting relevant industries. At the same time, the Company will take the overall debt level and market financing costs into full consideration and plan to issue debt financing instruments to broaden the financing channels.

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