Hong Kong Stock Concept Tracking | China's mobile phone exports increased sharply month-on-month in September, with clear profit growth for leading companies in the industry chain (with concept stocks)

China General Administration of Customs: China exported 81.378 million mobile phones in September, 68.865 million units in August; 4.7 million units of automobiles.

Market research agency IDC reports that the global smartphone market shipped 316.1 million units in the third quarter of 2024, up 4.0% year on year, and has been growing for five consecutive quarters.

According to the latest report released by Canalys, global smartphone shipments increased 5% year-on-year in the third quarter of 2024, increasing for four consecutive quarters. Among Chinese manufacturers, Xiaomi continues to rank third with a 14% market share, an increase of 1 percentage point over the same period last year.

In addition to ranking first among Chinese manufacturers in the global market share, Xiaomi ranked 87th in the “2024 Global Best Brands List” published by Interbrand, and is also the highest-ranked Chinese brand. Another Chinese brand on the list, Huawei, ranked 93rd.

Companies related to the mobile phone industry chain:

Xiaomi Group-W (01810): Xiaomi's two major business segments, mobile phones x AIoT and smart electric vehicles, are each in a steady and strong growth trend. First, Xiaomi's smartphone shipments and share have maintained a good growth momentum, both domestically and overseas, and high-end smartphones are growing strongly. This not only provides a basic methodology for IoT product growth, but also accumulates users for the Internet business, especially high-end users. As a result, mobile phones x AIoT are growing strongly. Second, Xiaomi revealed for the first time that the gross margin of the smart electric vehicle business segment reached 15.4%, which greatly exceeded market expectations. This was mainly due to the scale effect of deliveries exceeding expectations, support from suppliers, and contributions from automotive peripheral products. Taken together, Xiaomi phones, automobiles, IoT, etc. are all C-side products within Xiaomi's unified architecture, and have potential and room for long-term growth.

Shunyu Optical Technology (02382): Mobile phone lens shipments were 630 million pieces, +24%, of which 6P and above products were shipped 160 million pieces, +23% year over year, and ASP increased by more than 20% year on year. The company continued to improve the product structure. The gross margin of 24H1 mobile phone lenses is expected to continue to increase to 20-25%. The company's various one-inch glass-plastic hybrid main camera, periscope phone lens development was completed in 2024 Mobile lens shipments are expected to increase by 5-10% year-on-year. Mobile phone camera modules were shipped 290 million units, +14% year-on-year. Among them, Periscope and large image modules shipped 0.2 billion units, +67% over the same period. High-end mobile phone modules achieved remarkable results. In-group focus periscope products have been mass-produced. The gross margin of the 24H1 mobile phone module is 6-8%. The company expects gross margin to increase to 6-10% in 2024, and 24H2ASP will continue to increase.

Qiu Tai Technology (01478): Benefiting from the recovery in Android smartphone shipments and the rapid development of new energy vehicles in the first half of the year, camera module shipments increased by 30.8% year on year. Looking at January-June 32M CCM shipments increased 5.6% year over year, CCM shipments above 32M specifications increased by +72.1% year over year, vehicle and other CCM shipments were +100.4% year over year, and shipments of 32M and above high-specification camera modules improved significantly, accounting for 49.2% increase in ASP products.