BYD Electronics plunged 20%: a camera chip data report triggered
In the age of information overload, numerous third-party agencies have emerged to publish reports on various sub-sectors, sometimes regularly, sometimes irregularly. While some organizations maintain a responsible approach with thorough research and data collection, others lack transparency and may even fabricate information, leading to significant consequences for 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 speculation linked this sharp decline to a reported drop in camera chip shipments from BYD, which had been released in April. However, according to an interview by the Daily Economic News, BYD Electronics currently has no business in camera chips. The source of the data from Rising Sun Big Data remains unclear, prompting further investigation.
BYD Electronics stated that they are unaware of the origin of the data. On June 27th, the company’s stock fell by only 2.18%, but the next day, it suffered a massive plunge of 20.94% during intraday trading, closing down 10.47%. This sudden drop raised questions about the cause behind the volatility.
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, such as metal bodies and plastic casings, along with assembly services. The products include smartphones, laptops, and tablet lights, operating under EMS and ODM models.
In a subsequent conference call, BYD Electronics attributed the stock crash to external factors, such as the decline in U.S. tech stocks and fluctuations in the Hong Kong market. They emphasized that their fundamentals remain strong, with the metal casing business driving growth and increasing market share.
However, industry observers suggested a possible link between the release of the report on BYD's camera chip and the subsequent stock decline. On June 26th, Rising Sun Data published the “2017 April Camera Chip Shipment Rankings,†which showed a significant drop in shipments for BYD and Samsung. Despite these claims, BYD Electronics denied having a camera chip business, calling the report baseless.
Rising Sun Data, a data research institution, was contacted by reporters, but the staff provided vague responses, suggesting that May data would be more accurate. No further information was provided, leaving many questions unanswered.
A separate investigation revealed that the camera chip business is not managed by BYD Electronics, but by BYD Microelectronics. According to their website, the company focuses on semiconductor products, including CMOS image sensors. However, industry analysts noted that the CMOS chips produced by BYD are mainly used in low-end devices, and shipments are minimal.
Experts like Li Yongsen from Renmin University pointed out that while fundamental data influences stock prices, discrepancies in third-party reports can lead to market confusion. Wang Yanhui from the China Mobile Alliance emphasized the importance of verifying the credibility of data sources, noting that larger institutions typically conduct more thorough research than smaller ones.
The Daily Economic News reporter also visited repair shops in Shenzhen Huaqiang North and found that BYD camera chips are nearly impossible to find on the market. Repair technicians confirmed that there is very little availability, indicating that the reported shipment figures may not reflect actual market activity.
This incident highlights the need for greater transparency and accuracy in third-party data reporting, as well as the importance of cross-verifying information before making investment decisions.
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