Technology

AAC Acoustic Technologies

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It's about AAC Technologies Holdings, Inc, the global leading supplier of integrated micro-component solutions for communication and IT consumer electronics, providing clients with innovative solution technologies ranging from acoustics to haptics vibrators, radio frequency (RF) and optics.
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  • 1. Derived Demand: ACC Technologies Holdings, Inc.
  • 2. STORY FLOW ACC Technologies Holdings Background of industry Challenges in the market Introduction of AAC Technologies Financial Challenges 1 2 3 4 Potential areas to enter5 Outlook for the Future6
  • 3. PART ONE THE INDUSTRY
  • 4. 02 Amphenol Foxconn BYD LiteOn Flextronics Laird 01 Nokia Apple Samsung HTC Motorola Apple 03 AAC NXP Bujeon Goertek BSE Segmentation of the Industry 1st tier: Smartphone/Tablet OEMs 2nd Tier: Assembly in Taiwan 3rd Tier: Components Supplier
  • 5. 1040 0 2012 2013 2014 2015 2016 2018 Shipment of Wearable Device 2012-2018 (in 10K units)1873 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Global Smartphone shipments from 2010to 2018(in million units) 416 2012 2013 2014 2015 2016 2017 Shipment of Tablets 2012-2017 (in million Units) Strong Demand of Smartphone, Tablet and Wearable Device
  • 6. Mobile Technology Trend Smartphone Screen size Smart Watches and glassesthinner and thinner bigger and bigger
  • 7. PART TWO THE COMPANY
  • 8. AAC Technologies Company founded 1993 Employees 30000+ Total Asset USD 9.3 billion (2014) Headquarters Shenzhen, China Annual Revenue USD 1.4 billion (2014) Index Membership HKSE:02018
  • 9. Listed on HK stock; qualified by Sony-Ericson 2005 单击此处添加标题 RF solution: Antenna, NFC, WP 2013 Shipment for Samsung 2011 Qualified by HTC& Google 2008 2010 Automated production for speaker and earpiece 2002 Mass production of multi- functional device 1998 1993 Transducers for Motorola Company founded
  • 10. PART THREE MARKET CHALLENGES
  • 11. 01 02 Decreasing sales income in major business Declining market growth in mature markets Newly electronic products introduced were highly depended on replacement purchase. Challenges of AAC Company Sales Income in Billion Dollars 6.4 6 2013 2014
  • 12. 12 6.3% More debt ROA 44% ROE 25% 7.4% A C C T e c h n o l o g i e s Gross Profit growth of 6.3% Average 3 previous years: 33% TOP LINE Average 3 previous years: 65% and 32% resp. Profitability A/R and inventories increasing. More debt CASH 2014: 7.4% 2015 and 2016: 6.8% 6.3% Respectively CHINA’S grow th Financial Situation/Challenges - 2014
  • 13. 单击编辑标题 How to face the challenges? Smartphone Tablets Wearbles Acoustics Antenna/RF Optics Sensor Accessories etc. Product Line Diversification Focus on Smartphone Tablet
  • 14. 2014 1450 patents in total 2014 263 patents 87 non- acoustic 2012 202 patents Building Strong Barrier to Entry Strategic Acquisitions and Investments TOTAL SOLUTION Components Committed to STRATEGIC ACQUISITIONS AND INVESTMENTS
  • 15. • In 2010,More portable devices(smartphones and tablets) The increasing demand for rechargeable batteries in Asia(China, India, Indonesia) Lithium-ion Batteries • Strong economic growth, increasing per capita income and continued industrialization efforts • Substituting MP3 players, cameras and laptops China being largest and fastest growing market Decreasing demand of rechargeable batteries and less revenue throughout the following years.
  • 16. Lithium-ion Batteries Consumer 60.3% Industrial 14.5% Automotive 18.3% Grid and Renewable Energy Storage 6.9% Consumer 23.9% Industrial 8.5% Automotive30.0% Grid and Renewable Energy Storage 37.6% Total LithiumPercent Revenue breakdown by application, global 2013 & 2020 forecast-ion battery market Source: Frost & Sullivan Investing in lithium-ion batteries Searching for higher growth potential alternatives DECISION
  • 17. • second biggest MEMS microphone supplier 13% • supplier for the third type microphones • solution provider • Goertek 7% $ 61,9 million • BSE 5% $ 37,2 million MEMS Technology: Microphones AAC Direct competitors Forecast a continuing growth $785M in 2013 to $1.65B by 2019 Main client • Apple & Sumsung
  • 18. A promising market in semiconducto r industry • RF MEMS tech academic research →mass application areas • Demand higher signal quality for thinner mobile phones • Market 2014 -2018, CAGR 16.7% expected 2018, $500 million expected 01 03 02 MEMS Technology: Radio frequency(RF)
  • 19. Optics-Lens Acquired Kaleido Aquired ISQR in Japan Collaboration with sensor supply, eg Omnivision Strategic move: • Camera lens cost=30% of the total cost of the smart phone camera • In 2014, the total market of lens industry is about 3,300 Million and have been predicted to be 7,500 million USD in 2020 Current player: Heptagon; Seiko
  • 20. PART SIX OUTLOOK
  • 21. Outlook for the Future Patents Technology Barriers to entry Intensively filing patents Explore technologies areas Building High Barriers to Entry Non-acoustic 20% 2014 Non-acoustic 38% 2015 Non-acoustic >38% 2016… OUTLOOK
  • 22. Financials after Acquisition TOP LINE RF contribution CASH 32.5% Avg (3 years prior 2014):33% 7.8% lower Healthier A/R SUCCESSFUL! 38% of total revenue
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