On the evening of October 16, Juguan Technology disclosed that the company recently received a formal designation letter for the latest generation of laser radar line spot emission module project from a well-known European automotive Tier 1 customer (customer code: AG Company).
The designation letter clearly stated that AG Company selected Juguan Technology to develop and mass-produce the line spot emission module products required for its laser radar project, and agreed on the supply prices at different levels, the predicted supply quantity in each year, and the amount and payment method of project-related investment.
The announcement shows that the terminal car company customer of the designated project is a world-renowned car company headquartered in Europe, and the mass production time of the emission module is expected to be 2027. According to customer forecasts, the demand for this designated project is expected to be about 150,000 sets during its life cycle.
Won the "AG Company" project twice
It is reported that this designated project is the second mass production designated project of the laser radar emission module from AG Company obtained by Juguan Technology since it disclosed that it had obtained the first laser radar line spot emission module project from AG Company on December 4, 2023. It reflects that the product technology and quality of Juguan Technology's line spot emission module have been fully recognized by the automotive customer AG Company.
Industry insiders said that the reason why Juguan Technology was able to win the order from AG Company twice is that the key lies in its unique line spot emission module technology path. Since 2023, Juguan Technology has decided to strategically focus on the line spot technology path with its forward-looking insight into the vehicle-mounted laser radar technology path.
Juguan Technology stated that after the laser radar line spot emission module products involved in the designated project are mass-produced, the company will confirm the product revenue based on the actual order delivery of the customer, and it is expected to have a positive impact on the company's operating performance during the project life cycle.
As for the current order situation, Juguan Technology revealed that it is providing the emission modules of the mass production stage of Flash LiDAR to Continental AG, but due to various factors, the customer's delivery volume has not yet reached the expected level. In addition, in the first half of 2023, Juguan Technology also successfully obtained the designated cooperation notice of two domestic laser radar emission module projects.
Juguan's products can be divided into two categories: one is upstream components; the other is midstream applications.
① Prefabricated gold-tin-aluminum-nitride substrate materials: This belongs to semiconductor laser components, which have been sold to the outside world since 2020. It currently has a monthly production capacity of more than 2 million units. The shipment volume in the first half of 2023 has exceeded 4 million units, breaking the monopoly of Japanese companies and belonging to import substitution.
② Laser optical components: The company's core technology of light field homogenization can achieve a high degree of homogenization of laser beams. It is a core supplier of ASML and is also used in major domestic lithography machine R&D projects and prototypes. In addition, the company also provides single (non-) spherical cylindrical lenses (fast axis collimators) and other beam collimation conversion products to well-known companies in the industry such as Coherent, Raycus, and Maxphotonics. If you look at the customers, they are also in the optical semiconductor industry chain.
③Automotive application field: Provide laser radar customers with solutions from core lasers and optical components to emission light source modules, which can be applied to a variety of laser radar technology routes. In 2023, based on the forward-looking judgment of the vehicle-mounted laser radar technology route, the company focused on the line spot technology route. It is still a semiconductor route.
"Line spot emission module" is the core component of laser radar
Lidar line spot emission module is the core component of laser radar system, which has an important impact on the performance and reliability of laser radar.
The module is composed of laser, optical components and driving circuit, etc. Its main function is to shape the laser beam into a line spot and project it to the target object through a scanning mechanism to achieve detection and measurement. Its technical features include high resolution, which can generate accurate point cloud data, which is essential for accurate measurement and three-dimensional modeling; high reliability, simple technical architecture and stable operation in harsh environments; wide temperature range adaptability, such as Juguang Technology's VCSEL line spot emission module can work in a wide temperature range without additional temperature control components; and the low mass production cost brought by the popularization of technologies such as VCSEL, which provides strong support for the widespread application of laser radar.
Lidar line spot emission module is widely used in intelligent driving, robot navigation, industrial automation, 3D scanning and modeling, etc., especially in the field of intelligent driving. As a key sensor for realizing advanced autonomous driving systems, it can provide high-precision environmental perception information to help vehicles achieve autonomous navigation and obstacle avoidance.
Finally
There have been various speculations about the true identity of the mysterious "AG Company" for a long time. Some industry insiders believe that the "AG Company" that has reached a cooperation with Juguan Technology may refer to Valeo, one of the world leaders in laser radar. As for whether the information is true, we wait for public disclosure.
In fact, Juguan Technology's revenue situation has not been ideal recently. From the performance point of view, Juguan Technology achieved revenue of about 311 million yuan in the first half of this year, a year-on-year increase of 29.85%. However, the net profit attributable to the parent company in the same period was a loss of more than 28 million yuan, a year-on-year decrease of 206.71%.
According to public information, Juguan Technology announced on September 26 this year that Liu Xingsheng, chairman and general manager, voluntarily reduced his salary by 30%; directors, deputy general manager Tian Ye and other management personnel voluntarily reduced their salaries by 10% to 20%.
In 2016, Juguan Technology was listed on the New Third Board, but due to liquidity and other reasons, it was delisted in 2017 and planned to sprint to the A-share market. In the second half of 2020, Juguan Technology signed a listing guidance agreement with CICC, and successfully landed on the Science and Technology Innovation Board in December 2021, becoming the ninth Science and Technology Innovation Board company in Shaanxi.
This paper is from Ulink Media, Shenzhen, China, the organizer of IOTE EXPO (IoT Expo in China)
