Tengjing technology: breaking through the downstream consumer market based on optical core technology

In the enterprise circle of optics and optoelectronics, Tengjing Technology belongs to a young group. Tengjing Technology was established on March 20 13, and the joint-stock company was established on March 2019,2021year. Founded less than 8 years ago, the company landed on the science and technology innovation board.

With the help of science and technology innovation board platform, Tengjing Technology adheres to the strategy of science and technology innovation and accelerates the expansion of downstream application fields. Since listing, the company has made great progress in the research and development of diffraction technology, and developed key components for popular application fields such as optical communication, industrial laser, vehicle and ar.

Listing promotes technological progress.

Tengjing Technology is located in Mawei District, Fuzhou, where local optical and photoelectric enterprises gather.

I graduated from Tsinghua University with a bachelor's degree in applied physics and graduated from Fujian Institute of Physics, China Academy of Sciences with a master's degree. Since then, he has taken root in Fuzhou optical industry and accumulated nearly 30 years of management experience in optoelectronic components enterprises.

During the interview, Yu wore a white shirt with "Optowide" printed on it. He is gentle in temperament and speaks at a gentle pace. When he talks about technical topics in the industry, his tone will rise. His behavior is just like the impression of the outside world-a scholar-type entrepreneur.

"Choosing to start a business is that we want to be more independent in the development of the company." Yu said.

The core R&D team is an important embodiment of an enterprise's technical ability. Many senior executives of Tengjing Technology have a profound technical background: another founder, Wang Qiping, graduated from the Academy of Optical Fine Arts and is the president of Zhongke, with nearly 30 years of technical accumulation in the field of optical thin films; Dr. Ganzhou, Chief Technology Officer, graduated from the Department of Physics in Tsinghua University and received his doctorate in optics in the United States. He is a visiting professor at California Institute of Technology, specializing in laser sensing, equipment and system integration.

"Science and technology innovation board is a plate that attracts market attention. After the company went public, its popularity became higher, and customers and suppliers had more confidence in us. Through direct financing through listing, more resources can be invested in research and development. " Yu said.

Since its establishment, Tengjing Technology has paid attention to the development of optical bottom technology, and established four core technology platforms: optical thin film technology, precision optics technology, molded glass aspheric surface technology and optical fiber device technology, covering the main links of photoelectric component manufacturing. After listing, the company plans to build diffractive optical technology, optical, mechanical and electrical integration and testing technology, continue to develop high-end, high-performance precision optical components, and iteratively upgrade related manufacturing processes.

"science and technology innovation board enterprises must have excellent technology and advanced technology in their main business. Tengjing does not belong to that kind of explosion company, but we have been following the established technical route and product route, step by step. " Yu said.

Last year, Tengjing Technology invested 24.796 million yuan in R&D, a year-on-year increase of more than 24%. R&D investment accounted for 8. 19% of revenue, and this proportion further increased to 9.22% in the first quarter of this year.

Yu also introduced that companies usually cooperate deeply with big customers and begin to participate in the research and development stage of customer products, which means that it is not easy for companies to enter the supply chain of customers, and it is not easy to go out, and the customer turnover rate is low.

Tengjing Technology's business model is also based on customization. The company has accumulated a number of large customer resources in the field of optical communication and fiber laser, including Lumentum, Finisar and many other world-renowned enterprises.

The scale of income continues to expand.

Tengjing Technology is located in the upstream of optical communication and fiber laser industry chain. Since its listing, Tengjing Technology has actively explored the market and expanded its business scale.

"Last year, the company's shares were listed on the Science and Technology Innovation Board, and the company's capital strength and brand influence were further enhanced. After the completion of the factory building, the company completed the acceptance and relocation of the production line, and the order delivery capacity was significantly improved, and the future production capacity was effectively guaranteed. " Tengjing Technology said.

202 1, Tengjing Technology achieved an operating income of about 300 million yuan, up by 12.44% year-on-year, of which the revenue from fiber laser accounted for 55.45%; The revenue of optical communication accounted for 4 1.70%.

In addition, in terms of regions, Tengjing Technology's overseas business is still growing in the face of the repeated COVID-19 epidemic and the adverse impact of changes in the international trade environment.

Last year, Tengjing Technology's overseas income was 66.62 million yuan, a year-on-year increase of about 9%. However, the proportion of revenue in this part of the business has declined. Yu said that overseas business was affected by the epidemic, product on-site certification was blocked, and the expansion progress was lower than expected.

"In the future, the company will strengthen the development of North American and European markets and strive to restore the proportion of foreign sales to the pre-epidemic level." Yu said.

From the perspective of profit rate, the gross profit margin of Tengjing Technology's overseas income reached 45% last year, much higher than the gross profit margin of domestic business of about 29%.

In terms of overseas business development, Yu also introduced that Tengjing Technology set up a subsidiary in the United States this year and set up a sales service center to provide sales and services of optical devices to North America.

In the first quarter of this year, Tengjing Technology's operating income reached 77.88 million yuan, a year-on-year increase of nearly 38%; The net profit was about/kloc-0.036 million yuan, a year-on-year increase of about 36%.

Judging from the customer orders, the market demand for optical communication components continued to recover steadily in the second half of 2002/KLOC-0. The market demand for fiber laser components is good.

In February this year, the state launched the "Dongdian West Power" project in an all-round way. It is planned to build a new computing network system integrating data center, cloud computing and big data, orderly guide the demand for computing power in the eastern region to shift to the west, optimize the layout of data center construction, and promote the coordinated linkage between the east and the west.

According to Tengjing Technology, optical communication network is an important part of information infrastructure and a key bearing foundation. The implementation of the major project of "calculating from the east to the west" will have a positive effect on high-speed optical modules and devices in the field of optical communication, and effectively promote the accelerated development of the upstream optoelectronic component industry.

Breakthrough vehicle optical system

And AR field

The development of optoelectronic components depends largely on the demand of downstream application fields. Before listing, Tengjing Technology's products were mainly used in industrial scenes. After listing, the company developed diffractive optical technology and actively expanded the downstream consumer optical market.

Striving for a breakthrough in the field of vehicle optics and AR has been listed as the business focus of Tengjing Technology this year.

With the development of autonomous driving from L 1 and L2 to L3, L4 and L5, the automotive optical industry is facing great development opportunities. Among them, lidar is an application field that is expected by the market.

At present, there are two main routes for automatic driving system perception, one is the visual route represented by Tesla, and the other is the lidar route.

"The lidar market is hot this year, and the whole industry is equivalent to taking a big step. The automatic driving of ordinary passenger cars is not expected to be so fast, and it may be faster in some special applications such as logistics, ports and mines, but it is still optimistic in the long run. One direction. " Yu said.

Tengjing Technology mainly provides some laser radar customers with precision optical components such as lenses, windows, filters, prisms and mirrors for laser radar optical transmission systems. In the company's view, lidar is the core sensing equipment of intelligent driving technology. As a prerequisite for intelligent driving, sensing has a direct impact on the driving safety of intelligent driving. Precision optical elements play an important role in laser radar optical system. Based on this, with the promotion of the national smart car innovation and development strategy, the photoelectric component industry will usher in a broader market space.

In addition, precision optics is one of the key supporting technologies for AR applications. Precision optical components developed by Tengjing Technology can be applied to emerging consumer electronic products such as AR.

Tengjing Technology believes that the integration of AR technology and industrial applications is entering an accelerated period, and the penetration rate of AR equipment will continue to increase. As the core components of AR equipment to achieve high-quality imaging effect and good user experience, precision optical components and optical systems have developed many types, but each type is immature. With the development and evolution of technologies related to optical components of AR devices, such as array optical waveguides and diffractive optical waveguides, AR display devices are becoming lighter, thinner and smarter.

It is reported that Tengjing Technology's business expansion in lidar and ar applications is progressing steadily, and the mass production time will depend on customer verification and the needs of downstream terminals.