「联代科技」你不看联代科技财报绝对会后悔上天在提醒你

联代科技基本情况

Situation Introduction

• Company Profile: Founded in June 2008, Lian Dai Technology (stock code: UTME) is headquartered in Shenzhen, China. It specializes in the design, development, production, and sales of mobile phones and consumer electronics, as well as brand operation. The company provides EMS services, including OEM and ODM, catering to global markets like India, Brazil, the United States, and Europe.

• Market Position: Listed on the Nasdaq in April 2021, Lian Dai Technology experienced a significant surge in its IPO, with its stock price soaring by 875% on the first trading day, closing at $39 per share and achieving a market capitalization of $320 million.

Shareholder Analysis

• Shareholding Structure: Before the IPO, the controlling shareholder was Mr. Bao Minfei, holding 96.95% of the shares, while another shareholder, He Min, held 3.5%.

• Post-IPO Changes: Post-IPO, the shareholding structure diversified, but specific details on current shareholders are limited. The company’s rapid stock price movement suggests high market interest and potential volatility.

Operating Capability Analysis

• Financial Performance: As of September 30, 2023, Lian Dai Technology reported total revenue of 83.93 million RMB, a year-over-year decrease of 34.28%. The net loss was 10.49 million RMB, though it showed a 26.49% improvement compared to the previous year.

• Operational Efficiency: The company employs a flexible manufacturing system, handling both OEM/ODM orders and its own branded products. Its factory in Guizhou, China, is a key asset, supporting its diversified production strategy.

Competitive Capability Analysis

• Market Differentiation: Lian Dai Technology focuses on low-cost products targeting low-income consumers. Its core business, OEM/ODM services, accounted for 85.7% to 90.7% of total revenue in previous years.

• Brand Strategy: The company has two independent brands: "Do" for low-end markets and "Utime" for mid-to-high-end markets. However, sales of these brands have been declining, with revenue contributions shrinking to 2.6%.

• Comparative Analysis: Similar to Transsion Holdings, Lian Dai Technology targets emerging markets but has struggled with profitability until recently.

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