BYD Electronics plunged 20%: a camera chip data report triggered
In the age of information overload, numerous third-party agencies regularly or irregularly publish data reports on various industry sectors. While some organizations maintain a responsible approach by conducting thorough research and gathering evidence, others may lack transparency, leading to inaccuracies that can cause significant harm to companies and investors.
On June 28th, BYD Electronics (00285.HK), a subsidiary of Shenzhen BYD, experienced a dramatic drop of 20.94% in its stock price. Market analysts linked this sharp decline to a reported drop in camera chip shipments, which had been released earlier in April. However, according to an interview with the Daily Economic News, BYD Electronics currently does not have any camera chip business. This raised questions about the source of the data from Rising Sun Big Data.
BYD Electronics stated they were unaware of where the data came from. The reporter noted that the stock began to decline on June 27, with a drop of only 2.18%, but the next day, it plummeted by 20.94% during trading, closing down 10.47%. This sudden fall sparked speculation about the real reasons behind the market reaction.
According to public records, Hong Kong-listed BYD Electronics is a subsidiary of A-share listed BYD (002594.SZ). Its main business includes mobile phone components and modules, as well as assembly services. It mainly produces mobile phones, laptops, and tablet lights, operating under both EMS and ODM models.
In a subsequent conference call, BYD Electronics mentioned that the stock price drop might be influenced by the previous day’s decline in U.S. tech stocks or recent fluctuations in the Hong Kong market. From a fundamental perspective, the company claimed everything was still normal, with metal casing business driving profits and increasing market share.
However, industry observers suggested there could be a correlation between the release of a report on BYD's camera chip and the subsequent stock price drop. On June 26, Rising Sun Data published the "2017 April Camera Chip Shipment Rankings," which indicated a significant drop in shipments for several manufacturers, including BYD. Despite this, BYD Electronics denied having any such business and questioned the origin of the data.
Rising Sun Data, as a data publishing company, has been criticized for lacking transparency. When contacted by reporters, their staff initially avoided answering questions, claiming that May data would be more accurate. Later, they stopped responding altogether.
A-share company BYD confirmed the data from Rising Sun Big Data was incorrect and had officially reached out to them. However, key questions about the production, shipment, and gross profit of camera chips at BYD remained unanswered after five working days.
Upon further investigation, the reporter found that the company involved in developing camera chips was not BYD Electronics, but rather BYD Shenzhen Microelectronics Co., Ltd. According to their official website, the company focuses on semiconductor products, including CMOS image sensors, touch control chips, and battery management chips.
After contacting BYD, the reporter managed to speak with someone who sells BYD's camera chips. He provided a list of CMOS products currently sold by BYD Microelectronics, including 5MP and 2MP arrays, as well as 720P options. However, an industry analyst pointed out that these products are primarily used in low-end devices and are outdated compared to current market standards.
Professor Li Yongsen from Renmin University of China emphasized that while data-driven analysis plays a growing role in the stock market, the reliability of data sources and the methods used for analysis are crucial. With time, the market will eventually filter out inaccurate information.
Wang Yanhui, secretary-general of the China Mobile Alliance, highlighted that large research institutions typically conduct thorough investigations, while smaller analysts often lack the resources to gather accurate data. Therefore, it is advisable to rely on data from established and reputable sources.
The Rising Sun Big Data, described as a professional data research institution, operates through a mobile phone newspaper platform. However, its credibility remains questionable, given the lack of transparency and the potential for misinformation.
Finally, when the reporter visited repair shops in Shenzhen Huaqiang North, they found that BYD camera chips were nearly impossible to find on the market. Repair technicians confirmed that these parts were rarely available, suggesting that the reported high shipment numbers may not reflect reality.
This case highlights the importance of verifying data sources and understanding the broader context before drawing conclusions about market movements.
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