Cpo, another tenfold increase in ten years?
Posted: Wed Feb 12, 2025 9:52 am
The two companies are subsidiaries of ficontec, a german optical module leader. As leading equipment manufacturers in the field of global photonic and semiconductor automated packaging and testing, they provide high-speed silicon photonic module packaging and testing equipment, and can provide microscopy, testing and mounting equipment for silicon-based optical chips.
It was stated in the merger and acquisition draft that after the completion of this transaction, the new goodwill in the company's consolidated balance sheet will reach 1.092 billion yuan. In other words, if the target company's performance in the future does not meet expectations, goodwill impairment will be required, which will directly reduce the current profit of the listed company, which will undoubtedly make the situation worse.
The current fundamentals of the target company can hardly support a valuation of 1 billion yuan, and at first glance it seems impossible to use the price-to-earnings ratio to estimate it.
However, according to an interview with chairman dai jun, the actual price-to-sales ratio of the merger and acquisition is only 3.6 times, while the price-to-sales ratio of a-share semiconductor equipment gambling data usa companies is generally more than 10 times. Driven by ai technology, we should be optimistic about the future of ficontec.
To verify this statement, we must understand the concept of cpo (co-packaging of optoelectronics) .
Cpo is an optoelectronic packaging solution that is optimized in terms of cost, power consumption, and integration.
The capital market is already familiar with optical modules. Since chatgpt set off a wave of global ai investment, data center infrastructure investment has continued to drive the demand for optical modules every year.
According to light counting's forecast, the global optical module market size will maintain a cagr of 12% in the next five years, and will exceed us$20 billion in 2027, with data centers becoming the largest application market.
In the technological evolution route within high-speed optical modules, cpo emerged as the optimal solution to achieve higher integration, lower power consumption and cost.
It was stated in the merger and acquisition draft that after the completion of this transaction, the new goodwill in the company's consolidated balance sheet will reach 1.092 billion yuan. In other words, if the target company's performance in the future does not meet expectations, goodwill impairment will be required, which will directly reduce the current profit of the listed company, which will undoubtedly make the situation worse.
The current fundamentals of the target company can hardly support a valuation of 1 billion yuan, and at first glance it seems impossible to use the price-to-earnings ratio to estimate it.
However, according to an interview with chairman dai jun, the actual price-to-sales ratio of the merger and acquisition is only 3.6 times, while the price-to-sales ratio of a-share semiconductor equipment gambling data usa companies is generally more than 10 times. Driven by ai technology, we should be optimistic about the future of ficontec.
To verify this statement, we must understand the concept of cpo (co-packaging of optoelectronics) .
Cpo is an optoelectronic packaging solution that is optimized in terms of cost, power consumption, and integration.
The capital market is already familiar with optical modules. Since chatgpt set off a wave of global ai investment, data center infrastructure investment has continued to drive the demand for optical modules every year.
According to light counting's forecast, the global optical module market size will maintain a cagr of 12% in the next five years, and will exceed us$20 billion in 2027, with data centers becoming the largest application market.
In the technological evolution route within high-speed optical modules, cpo emerged as the optimal solution to achieve higher integration, lower power consumption and cost.