RaySharp IPOs, 2020 Financials Examined

By Isabella Cheng, Published Aug 05, 2021, 07:41am EDT (Research)

******** *** **** ****** ****** ** its ************* *** ******** **** ** Hanwha, ******, *****, *** *****. *******, its ********** **** ***** ** *** of ***** ********* ******** ******* *** another ****** **.

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** **** ******, **** ******** ********’* most ****** ********** *********:

  • **** ******* ** *** ******* ****
  • ** **** *********** ***********
  • ****** ********* ***********
  • ***** ****** ********
  • *** ******** *********** ***** *******
  • *********** ***** ** ********* *** *********
  • ******** *. ******** *****
  • ***** *** ** *******

*** ******** ******** ** ********, *********** ******** - ***** ***** *** For ******* ******** ***** *********************** *** *** *** ********.

Executive *******

********'* ****** ************** **~$*** ******* ***, ~** ***** *** 2020 ******* ** ~$*** *******, ** 12% ***, ********* ***** *******’***** ****** ***+ **** ***************:

  • ******* **** **% ** $** ******* USD ** ****
  • ******* ********************** ** ** **** ** *** pandemic *****.
  • ***** ******* **** ****** * ********** points (~** ** ~**)
  • ******* **** ****** *** ***** **** 50% **** **** ** ****.

*** ******* ************ *** *** ***** margins (***-***%) ******** ** ********* *** Dahua, ***** ********* **** ***** ******* in *** ***-***%.

Hanwha **** *****, ***** ******* ****

*******, ******'* ********* **** ******** ********* while ***** ******* **** **** * weaker ****.

2020 ******* ** **%, ******* **** **%

**** ******* **** **% ** ~$*** million ***, *** ******* ****** **% to ~$** ******* ***. ******* ****** 12% ** **** *** *** *** returned ** **** ******.

IPVM Image

******** *** * ****** ** ****, making ~$** ******* ***, ~** ** 2020's *******. ** **** ******* **** ~$7.4 ******* ***, ~*.** **** ** H1 ****:

IPVM Image********’* ***** ******* “********* *************” ** Q3 *** ** **** ******* *** pandemic *** “******* ***** *******,” ** Zhiyang, ********’* ******* *******, **** ******* **** **** ****** *&* *******.

No ******** ***** ****** *****

** **** *** ***** *** ******** of ******** ******* ***** ******* *** did *** ******* ******* **** ***** in *** *** *********. **** ** atypical *** *** ***** ** **** space ***** ******** ******* ** **** by ******** **** *******.

Rebound **** *****

********’* ********* ** **** ******* ** ~$25 ******* ** ** ******* ***, which ***** ** ** ~**-**% **** Q1 ****. ******* *** ******** ** ~$1.3 ******* ** $*.* ******* ***, up ~**-**% **** ** ****. ******** the ******* ******** ** **********, ******** is ****** *** * ******* **** from * **** *** **** ***** first ***** ***:

*** *******'* ********* ****** *** *** profit ********* **** ****-**-**** **** ******* to ***** ****. **** ** ****** due ** *** ******** ** *** COVID ******** ** *** ***** ******* of ****, ***** ******** ** * larger ******** ** *** *******'* ******* and *** ******; ** *** ***** quarter ** ****, *** ******** ******** is ***** **** ******* *** *** sales ****** ** ******** ** ******** in *** ***** *******, ***** *** increase ** ********* *******.

Future ********* *********** *********

*** *******'* ******* ****** *** ****** between **** *** ****, ******* ~** from $** ******* ** **** ** $136 ******* ** ****. *******, ****** has ****** ************* ***** ****. ******* in **** *** ******** ** **** levels, ***** $*** *******, *** ** is ******* *** **** ******** *** grow *** ******* ***** *******.

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*** **** ******** ****** *** ********’* profits, ***** ****** **** $** ******* USD ** **** ** $** ******* USD ** ****, **** ****** ******* grew.

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Gross ******* ****** *.** ******, *** ******* ***** * *******

********’* ***** ******* ********* *.** ****** from **.**% ** **.**% ** ****, due ** * ****** ** ******* mix:

*** ******** ** ***** ****** ****** is ****** ******** ** *** ********** fluctuation ** ***** ** ******** **** different ***** ****** *******.

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******, ******** **** **** *** ****** camera **** ** **** **** ** 2019. *******, ****** *** ******* ******* 4 ********** ****** **** **** ** 2020:

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********’* ***** ******* ******** ** ** in *** *** ***-***%, ******** ** industry *********** **** ********* (**%) *** Dahua (**%).

Main *********: ***** ********* ** ********

********’* *** ********* ** **** ****:

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***** ********* ** ******** ** ********’* top ********, ************ ** **** **** 40% ** *** *******’* *******. ******** is *****’* ******* ********, **********:

********* ** *****'* ************, *** *******'* [RaySharp’s] ***** ** ******** ** ***** account *** **** **** **% ** Swann's ******** *********.

******** ***** **** ***** *** "********** losses" *** **** *****'* ****-**** ****** do *** ********* ********** ****** ********:

*****'* ********** ****** *** ****** *** to *** ********** ** ******** *** development ** ***** **** ******** *** related ********* ** **** ** *** increase ** ******* ******* ** *** United ******, *** ***** *** ******* achieved ************* ** **** *** *** operating ********** *** *********. *****'* ****-**** losses ** *** ********** * ******** adverse ****** ** *** ******'* ********** operations. *******, ** ***** ********* ** incur ****** ** *** ****** *** cannot ** ********, ** **** **** a ******** ******* ****** ** *** Issuer's ********** **********.

Huawei/RaySharp *********** ******* ****** ** #* ********

** ****, ****** ****** * *** customer *** ******** ******* * *** partnership *** ******* ****** *** *******’* #2 ******** ** ***** ** *****. For ****** ******** ** *** ********/****** partnership, ********* ******* ******** *** ************ ****** Manufacturing.

Lorex ** ********, *** *** **** ** **** ******

***** ************ ** **** * *** customer. ** ****, **** ***** ** Swann *** ***** ********* **% *** 59%, ************, *** ** ****, ***** to **** ********* *** **** **. Swann ***** *** ** * ****, but ***** ***** *** ***** ***** the **** *****.

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******** *** **** ***** ** ************* Lorex’s ***-******** ******* ********, ********* ** declining ***** ***** *** ********:

*** *******’* ******** *****’* *********** *********** Dahua ****** ******** ********* ***********. ***** and *** ******* ******** ** ******** stable *********** ** ******** ******* ********, but ****** *** ***-******** ******* ******** are *********** ** *** ****** ******* Dahua, ********* ** ********* ***** *** Raysharp.

2020 ****** ***** *****

******** ****** ******* *** **** * consistent *** ********, ** *** *** in *** *** * ** ****. RaySharp **** **** ~$*.* ******* *** in ******* ** ****** ** ****, compared ** $** ******* ** ****, citing **** ****** ******* ****** *** Sam’s **** ** *** ****** *** this ******** ****:

****** ******* *** ****** ** **** the ************ ** *** ******* ***** and *** *** ******* * **** cooperation ********* **** ***'* ****, * major ******* ** *** *.*. ******. The *******'* ***** ** ****** ** 2020 ******** ** ~$*.* ******* ***, which *** * ******** ******* ****** on ********’* ***** ** ******.

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Domestic ***** ******** *** ** ****** ***********

******** ***** ********* ****** ** **** ~$3.5 ******* *** ** **** ** $13.5 ******* ** **** ******* ****** became * *******:

** ****, *** ******* ******** * new ******** ********* ******** ******, ***** caused *** *******'* ******** ***** ** increase ** * % ** *** total *****.

*******, ** ** ******* ******* ****** ultimately ***** ***** ******* ************ ** overseas. ************, ********’* ******** ***** ********* accounted *** **** *-*% ** ***** revenue, *** ** ****, ******** ***** grew ** ****** **% ** ***** revenue.

***** ******* ** ***** ** *** RaySharp’s ******* ******, ********** *** **% of *** ******* ** $** ******* USD. ******, ******** ******** **** *** North ******** ****** *** *** ******** potential *** ***********, ********* ** ******* Chairman ** ***** * **** **** ****** *&*.

IPVM Image

Covering ***** *******

*** **** ******** ** ******** ******, IPVM ***** ** ***** ***** ********* results ** * ******* ***** ** better ********** *** ******* *** ***** partner's ***********.

Comments (4)

**** ***** ** ******* **** ****** may ** ******** ******** **********. ** that ***'* *** ****, * ***** argue **** ** ***** * **** idea ** *********** *** ****** ***** own *************. ******** *****'* **** ** havet **** ******* *** ***** ******* Life ******* **** ** ***. ***** Owl, *****, *** ***** ****** *** camera ********* **** **** ******** *** ages. *** ***** *** ** **** and ***** ** ********* ** ***** volume. ** ****** ***** ** **** any ****** ******* *****, **** ****** probably **** **** ****** ******* ** that ********. **** **** ** ** a *********** ******* **** **** **** carried *** ******* **** *** * was ******* ** ***'*. *********** *********** was ********** **** ******** ** ****.

*** **** ******, *****, *** ********* are ***** **** (** ***** ** are ******** ***** ** *** ***'* stated **********) ** **** *** ** market, ** ***** ** ***** **** for ******* **** **** ****** *****.

Agree
Disagree
Informative
Unhelpful
Funny

** *** ******* *** **** ******** even **** ** *** ******* *****?

Agree
Disagree
Informative
Unhelpful
Funny

*'* ****** **** **** ***. **** is ***** ** ** ********** ***** scanning ***** *** ***** *** **** pick ** ******** ********* **** **** found ** *** ******* ****** ***** DVR ** **** ** ****. ****** way, ** ***** **** ******** **** name ** ******* ************ *********** ** only * ******* ******* *** *************.

Agree
Disagree
Informative
Unhelpful
Funny

* ******** ****** ******* ******* (*** cameras - *** ********) ******* * long **** ***, *** *** ********* they **** **** ** *****. ****** I ***** * *******’* **** **** :)

Agree
Disagree
Informative
Unhelpful
Funny
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