In the era of data explosion, numerous third-party agencies have emerged to publish reports on various sub-sectors, sometimes regularly, sometimes irregularly. Some organizations take a responsible approach, conducting thorough research and collecting evidence for each report. However, others lack transparency and may even make errors, causing significant harm to their targets and investors. Let’s explore this issue with the help of the car electronics editor.
On June 28th, BYD Electronics (00285.HK), a subsidiary of Shenzhen BYD, suffered a dramatic drop of 20.94%. The market linked this sharp decline to a sudden fall in the shipment of its camera chip, which was released in April. This event sparked widespread concern and confusion.
According to an interview by the Daily Economic News, BYD Electronics currently does not have a camera chip business. But where did the data from Rising Sun Big Data come from? The reporter investigated further.
BYD Electronics stated: “We don’t know where the data comes from.†The reporter noted that on June 27, the Hong Kong-listed stock began to fall slightly, with a drop of 2.18%. However, the next day, it plummeted by 20.94%, marking a major “Black Swan†event. By the end of the trading day, the stock had fallen 10.47%, with a turnover of 934 million yuan, setting a new record high.
Public information shows that Hong Kong-listed BYD Electronics is a subsidiary of A-share company BYD (002594.SZ). Its main business includes mobile phone components and modules, such as metal bodies and plastic casings, along with assembly services. It mainly produces mobile phones, laptops, and tablet lights, operating under EMS (OEM + full service) and ODM (design + manufacturing) models.
Regarding the reason behind the stock price crash, BYD Electronics mentioned in a later conference call: “We don’t know the exact cause. It might be influenced by the decline of U.S. tech stocks the previous day or recent fluctuations in the Hong Kong market. From a fundamental perspective, everything remains normal. Our business is primarily driven by metal casings, and the penetration rate of these components is increasing, along with our customer market share.â€
However, some industry observers believe that after the release of a report about BYD's camera chip, the stock price began to decline, suggesting a possible correlation between the two events.
On June 26th, Rising Sun Data published the “2017 April Camera Chip Shipment Rankings,†showing that most manufacturers experienced a year-on-year decline. Samsung and BYD were particularly affected, with Samsung’s shipments dropping from 25.65 million to 13.08 million, a decrease of 96.1%, while BYD’s shipments fell from 16.39 million to 8.68 million, a plunge of 88.82%.
A few days later, BYD Electronics denied the claims in the report, stating that the decline in camera chip shipments mentioned in the media was baseless. The company emphasized that it does not engage in this business and questioned the source of the data.
Rising Sun Data, as a data publishing company, raised questions about the accuracy of its statistics. When contacted by the Daily Economic News, the staff initially said, “Do not use the data from April first. The May data will soon be released, and the researchers visited BYD in May, so the May data will be more accurate.†After that, they stopped responding to any interviews.
The A-share company BYD confirmed that the data from Rising Sun Data was incorrect and has officially contacted them. However, key questions, such as “Which part of BYD is responsible for producing camera chips, shipments, and gross profit?†remain unanswered after five working days.
Upon reviewing BYD’s data, the reporter found that the company developing the camera chip business is not BYD Electronics, but BYD Shenzhen Microelectronics Co., Ltd. According to the company’s official website, it focuses on semiconductor products, including IGBT chips, intelligent power modules, CMOS image sensors, and touch control chips.
After several calls, the reporter finally reached Mr. Dong, who sells BYD’s camera chips. He provided a list of current CMOS products, including 5MP, 2MP, and 720P arrays. However, an industry analyst pointed out that these products are mainly for low-end devices and are outdated. “In the past two years, BYD’s camera chip shipments have been minimal, mostly used for internal ODM projects, but even then, the volume is small.â€
Professor Li Yongsen from Renmin University of China commented on the impact of third-party data on stock prices. He highlighted that the securities market increasingly relies on fundamental analysis, and changes in fundamentals can quickly affect stock prices. However, different data sources often yield varying results. He advised considering the authority and authenticity of the data source and being cautious when using data from small analysts or institutions.
Wang Yanhui, secretary-general of the China Mobile Alliance, noted that large research institutions like IDC and Sino typically conduct detailed field visits, while smaller analysts may lack sufficient resources or access. Therefore, it’s advisable to avoid using data from small companies or individual analysts, as errors can be obvious yet overlooked.
According to Rising Sun Data, the company is a professional data research institution under the mobile phone newspaper. In reality, the mobile phone newspaper is not an industry publication but a platform for mobile phone industry transactions. The website is operated by Shenzhen Qianhai Mobile Newspaper Online Network Technology Co., Ltd.
Investigation: BYD Chips Are Hard to Find
Initially clarifying the affiliation of BYD’s camera chip, what is its market size?
It is understood that the main components of a mobile phone camera include image sensor (CMOS), optical lens, voice coil motor, and module packaging. There are eight major CMOS suppliers: Sony, Samsung, OV, Gekewei, Sibike, BYD, Hynix, and Wonderland.
Notably, more than half of the main components in the camera industry are concentrated among the top three manufacturers, mostly Japanese and Korean companies. Sony dominates the high-end CMOS market, accounting for about 40% of the total. Meanwhile, the low-end market is largely dominated by domestic chip makers, with Gekewei holding around 70% of the market share.
According to Rising Sun Data, in March 2017, BYD ranked second after Samsung with 16.39 million shipments, showing strong performance. However, according to Mr. Li, a user who had a broken phone camera, BYD camera chips are hard to find on the market, making replacement difficult.
On July 13, the reporter visited multiple repair shops in Shenzhen Huaqiang North and found that BYD camera chips are indeed rare. An engineer at a repair center stated, “If you want one, tell me the model first, but I can only transfer it. There’s no guarantee of availability.â€
Other repair shops reported similar situations, with some merchants bluntly saying, “No, there’s almost no market for them now.â€
This case highlights the importance of verifying data sources and understanding the true market dynamics. As the market evolves, only accurate and reliable information will survive. For more updates, stay tuned to Car Electronics.
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