On March 16, Ovation closed at 10.15 yuan per share, down 0.68%, and the company’s total market value was 27.352 billion yuan, down 54.5% from its peak in July 2020, with a maximum drop of more than 62%. On March 17, Ovation opened at 9.14 yuan per share, down 9.95 percent from its 16-day close at 10.15 yuan per share, a direct drop.
Comprehensive land media news, the announcement showed that the 2019 audited operating income from specific customer-related businesses was 11.698 billion yuan (RMB, same below), accounting for 22.51% of the 2019 audited total operating income.
The customer is the second largest customer of Ovation in 2019, according to Ovation’s 2019 annual report.2020 At the end of October, Ovation said in a strategy meeting meeting that the top three customers in 2019 are huawei 32%, Apple 20% and Xiaomi 19%.
At the same Time, Ovation also said in the announcement that the company is planning to sell all or part of the assets of its subsidiaries related to the business of specific customers. It coincides with the Apple asset transfer agreement signed with Wintel Technology in February this year.
The outside world inferred that the overseas specific customer of the announcement refers to Apple.
Prior to this, the industry has repeatedly rumored that Apple kicked Officel out of the supply chain, but Officel has repeatedly denied it.
In July last year, rumors about Officera being removed from Apple’s supply chain were swirling after it was placed on the list of entities by the Bureau of Industry and Security of the U.S. Department of Commerce. In September last year, an overseas media report disclosed that Officera had been kicked out of Apple’s supply chain, causing its share price to plummet; followed by rumors of “Lance Technology taking over Officera’s business and entering Apple’s supply chain”. Subsequently, Ovation issued an announcement saying that the rumors about the company being removed from the supply chain list by a major U.S. customer were false, and that the cooperation with the major U.S. customer had been very good.
In December last year, in response to similar rumors, the person in charge of Ovation told the land media reporter that the relevant products were still in normal production and supply.
Although Ovation has been denying that Apple has stopped cooperating, the company sold its core assets in Apple’s supply chain in February this year, selling its Apple business with assets worth more than $10 billion to Wintel Technology, but the specific transaction amount has not been disclosed so far.
On March 16, investors were shocked and outraged after Ovation was confirmed to have been removed from Apple’s supply chain.
Some shareholders said that the previous rumors proved to be true, and the reason for not admitting it before was purely to cover the retreat of some people.
Others said that they were lucky they didn’t listen to the company’s previous clarification, otherwise they would have really lost all their money. There are also shareholders who said, “It’s over, it’s going to be a hedge.
Not only the shareholders, there are institutional investors are also trapped. According to the Ovation 2020 quarterly report, as of the end of the third quarter, two funds, although the reduction of holdings, but still among the top ten shareholders. Among them, the well-known private equity bigwig Feng Liu managed by Gao Yi Neishan No. 1 Yuanwang private equity fund just increased its holdings by 17.8 million shares, becoming the eighth largest shareholder. Calculated at the lowest price of 13.24 yuan in the second quarter of 2020, up to now, if Feng Liu had been holding Ovation’s shares, its loss over will be more than 20%.
Data shows that as of March 10, 2021, Ovation still has nearly 360,000 shareholders holding the stock.
Recent Comments