Leveraging the platform of Science and Technology Innovation Board, Tengjing Technology adheres to the strategy of technological innovation and accelerates the expansion of downstream applications. Since listing, the company has made significant progress in the research and development of diffraction technology, and has developed key components for popular applications such as optical communications, industrial lasers, automotive, AR, etc.
The company has also made significant progress in the research and development of diffraction technology.
Listing to drive technology forward
Tengjing is located in Mawei District, Fuzhou City, where local optics and photovoltaic companies are gathered.
Yu Hongrui, who majored in applied physics at Tsinghua University and graduated with a master's degree from the Fujian Institute of Physics and Architecture of the Chinese Academy of Sciences, has been rooted in the optical industry in Fuzhou ever since, accumulating nearly three decades of experience in managing optoelectronic component companies.
At the time of the interview, Yu Hongrui was wearing a white shirt with "Optowide" (the company's logo) printed on it, with a gentle demeanor and a slow pace of speech, which only rose when he talked about technical topics in the industry. The mannerisms are just like the outside world's impression of him - a scholarly entrepreneur.
"The choice of entrepreneurship is that we want to be more autonomous in the development of the enterprise." Yu Hongrui said.
The core research and development team is an important reflection of the technical capabilities of an enterprise. Tengjing's executives have a deep technical background: another founder, Wang Qiping, graduated from the Changguang Institute of the Chinese Academy of Sciences and has nearly three decades of technical accumulation in the field of optical thin films; Dr. Ganzhou, the chief technology officer, graduated from the Tsinghua Physics Department, received a doctorate in optics in the United States, and was a visiting professor at the California Institute of Technology, specializing in the field of laser sensing, devices, and system integration.
"The Science and Innovation Board is the market's attention, the company's visibility has become higher after listing, and customers and suppliers have more confidence in us. With direct financing through listing, more resources can be invested in R&D." Yu Hongrui said.
Tengjing Technology since its inception has focused on the development of optical substrate technology, has established "optical thin film technology", "precision optical technology", "molded glass aspherical technology We have established four core technology platforms, namely "optical thin film technology", "precision optical technology", "molded glass aspherical technology" and "fiber optic device technology", which cover the main links of optoelectronic components manufacturing. After the listing, the company is planning to build diffractive optics class technology, optical machine integration and testing class technology, etc., and constantly derived from the development of high-end, high-performance precision optical components products, and iterative upgrading of related manufacturing processes.
"Science and Innovation Board enterprises must be technically sound, must be technologically leading in their own main business, Tengjing does not belong to the kind of explosive company, but we have been according to the established technology route, product route forward, step by step." Yu Hongrui said.
Last year, Tengjing Technology R & D investment amounted to 24.7960 million yuan, an increase of more than 24%. R & D investment accounted for 8.19% of revenue, and in the first quarter of this year, the proportion further increased to 9.22%.
Yu Hongrui also introduced, the company is usually in depth cooperation with large customers, in the customer product development stage that began to intervene in the participation, which means that the company into the customer's supply chain is not easy to get out of the same is not easy to get out of the customer turnover rate is low.
Tengjing's business model is also mainly to take a customized approach, the company in the field of optical communications and fiber laser have accumulated a number of large customer resources, including Lumentum, Finisar and other well-known global enterprises.
Continuous expansion of revenue scale
Tengjing is in the upstream of the optical communication and fiber laser industry chain. Since its listing, Tengjing has been actively exploring the market, and its business scale has continued to expand.
"Last year, the company's shares were listed on the Science and Innovation Board, and the company's capital strength and brand influence have been further enhanced. The company's self-built factory was completed, complete acceptance, production line relocation, order delivery capacity significantly improved, the future production capacity is also effectively guaranteed." Tengjing Technology said.
In 2021, Tengjing Technology realized operating income of about 300 million yuan, an increase of 12.44% over the same period last year, of which, the fiber laser field revenue accounted for 55.45%; the proportion of revenue in the field of optical communications is 41.70%.
In addition, sub-regional point of view, in the face of the recurrence of the new crown pneumonia epidemic and changes in the international trade environment, the adverse impact of Tengjing Technology's overseas business is still to achieve growth.
Last year, Tengjing's overseas revenue amounted to 66.62 million yuan, a year-on-year increase of about 9%. However, this part of the business revenue accounted for a decline. Yu Hongrui said that the overseas business because of the impact of the epidemic, the product site certification is blocked, the expansion progress is lower than expected.
"In the future, the company will strengthen the development of the North American and European markets, and strive to restore the proportion of foreign sales to the level before the epidemic." Yu Hongrui said.
From the level of profitability, Tengjing Technology's gross profit margin on overseas revenue reached 45% last year, much higher than the gross profit margin level of about 29% for domestic business.
On the expansion of overseas business, Yu Hongrui also introduced, Tengjing Technology this year in the United States to set up a subsidiary, the establishment of sales and service centers to provide optical components in North America sales and service.
In the first quarter of this year, Tengjing's revenue reached 77.88 million yuan, an increase of nearly 38%; net profit of about 10.36 million yuan, an increase of about 36%.
From the customer's order situation, year-to-date, the market demand for optical communication components is still continuing the momentum of the second half of 2021 smooth recovery; fiber laser components market demand is good.
In February of this year, the state comprehensively launched the "East counts West counts" project, intends to build data centers, cloud computing, big data integration of the new arithmetic network system, the eastern arithmetic demand in an orderly manner to guide to the west, optimize the layout of the data center construction, to promote the east and west collaborative linkage.
Tengjing Technology, optical communication network is an important component of the information infrastructure and the key bearing base, "East counts west counts" the start of the implementation of major projects, will have a positive effect on the field of optical communication of high-speed optical modules and optical components, will be a strong boost to the upstream optoelectronic components industry to accelerate the development.
Breakthrough in the field of automotive optics
and AR
The development of optoelectronic components depends largely on the demand of downstream applications. Before listing, Tengjing's products were mainly used in industrial scenes. After the listing, the company developed diffractive optics technology while actively expanding to the downstream consumer optics market.
Striving for a breakthrough in the field of automotive optics and AR has been listed as Tengjing's business focus this year.
As automated driving progresses from L1 and L2 to L3, L4 and L5, the in-car optics industry has ushered in significant development opportunities. Among them, LiDAR is a highly anticipated application area.
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.
"This year, the LiDAR market is hot, the whole industry is equivalent to a big step forward, ordinary passenger cars are not expected to be so fast, in logistics, ports, mines, and other certain special applications may be a little faster, but in the long run is still more optimistic about a direction." Yu Hongrui said.
Tengjing Technology mainly to some LiDAR customers to provide lenses, windows, filters, prisms, mirrors and other precision optical components, applied to the LiDAR optical path transmission system. In the company's view, LiDAR is the core perception device of intelligent driving technology, perception as a prerequisite for intelligent driving, its detection accuracy, breadth and speed directly affects the driving safety of intelligent driving, precision optical components play an important role in LiDAR optical system. Based on this, with the national smart car innovation and development strategy to promote, optoelectronic components industry will usher in a broader market space.
In addition, precision optics is one of the key supporting technologies for AR applications. The precision optical components developed by Tengjing Technology can be applied to AR and other emerging consumer electronics products.
Tengjing Technology believes that the integration of AR technology and industry applications is entering an accelerated period, and the penetration rate of AR devices will continue to increase. Precision optical components, optical systems as AR equipment to achieve high-quality imaging effects and good user experience of the core components, has developed more types, but each type is not mature. With the development and evolution of technologies related to optical components for AR devices such as array optical waveguides and diffractive optical waveguides, etc., AR display devices are developing in the direction of lighter, thinner and smarter.
It is reported that Tengjing's business expansion in the field of LiDAR and AR applications is progressing steadily, and the time of mass production will depend on customer verification and the demand of downstream terminals.