Rebirth of the Official Business Route

Mou Cunzhu left Hanxing Bank and Park Jinchang had this intention when he stayed at the hotel for a long time. Xingshan had something to say, but Park Jinchang’s attitude is quite obvious. Hanxing Bank will not pay for the so-called overall interests of the Korean electronics industry. Samsung Electronics or any other company is halfway ahead of Kumho to acquire Hyundai Semiconductor's LCD business. However, the core assets of Hyundai Semiconductor's LCD business are the third-generation thin-film LCD production line of Samsung Electronics' recently contracted capacity. There is not much value for Samsung Electronics, or even a negative payment. It is impossible for Samsung Electronics to pay 400 million U.S. dollars or more for the attack on Kumho. What's more, even if Samsung Electronics chooses to do so, it can't completely block the scene. Lake's road to enter the LCD electronics industry, novel chapters are updated fastest

There are a total of 18 electronic companies in the world that have tiered thin-film liquid crystal technology. Because tiered thin-film LCD is a high-investment technology and capital-intensive industry, and because the market for liquid crystals has not really opened up, there are few companies that have achieved a stable scale. Samsung's business in this area has also been losing money for seven consecutive years, and it only improved slightly last year.

On the other hand, in the flat-screen TV market, plasma has certain technical advantages compared to LCD. Two display electronic technologies will be the winner in the future. It is too early to make a conclusion at this time. Second, even if it is certain that the LCD is the king of the display electronics market in the future, but in the future In the face of such intensive high capital investment, the technology capital competition is so fierce. Finally, there are only five or six LCD manufacturers that can achieve large-scale profitability. There are indeed a few more "novels" novel chapters are updated the fastest.

In this case, as long as Kumho can come up with a high enough bargaining chip, there will definitely be other electronics companies willing to give up the LCD business.

Li Zaimo sat in Mouli with a headache and squeezed his eyebrows and thought: What we have to do at this time is to delay Kumho’s entry into the thin-film LCD industry as much as possible so that Kumho can pay more for entering the Hemo LCD industry. The price compresses Kumho’s competitive potential

Although Samsung Electronics has been losing money on thin-film LCDs for seven consecutive years, it took advantage of the sharp depreciation of the Korean won during the Asian financial crisis in 1997 to benefit exports. Samsung Electronics has risen to the first place in the global LCD market and achieved profitability last year.

In the market of disc player digital mobile phones and portable music players, Samsung Electronics has fully realized the competitive potential of Kumho once it emerges. In Li Zaimo's view, Kumho has entered a new field every time Kumho enters a new field, especially with Samsung. Competitive areas must cause extreme caution

Jin Nanyong sat in the co-pilot seat and his cell phone rang at this time. He picked it up and looked back and said to Li Zaimo a call from Horizon Yan Wenjie. He sat in the co-pilot seat and answered the phone for a while. Covering the microphone, she turned her head and said to Li Zaimo:

Yan Wenjie also asked if it would be convenient to meet in Beijing

Li Jaemo shook his head slightly, and Jin Nanyong said to the phone: I'm so sorry that Mr. Li Jaemo's schedule in Beijing is full, but I will look for a chance to meet after returning to Jianbo. I watched Jin Nanyong hang up and Li Jaemo talked to him. Explain the reason for not meeting with Yan Wenjie and others: Even if Horizon can succeed in Haisu technology, it is completely unqualified to compete with Kumho. Although I did not have any extravagant expectations for Horizon before, I thought that Horizon could at least slightly contain the Jinhu in China. Who would have thought that they would be so mentally retarded? Now that we already have such a large-scale industry, it’s disappointing that we still can’t find a partner like this between industrial investment and securities speculation...

Even so, Samsung Hongxin’s project is going to go on. Horizon also needs to perfuse Jin Nanyong.

The only thing left is that Li Zaimo said indifferently, but we have to hold the control of the Samsung Hongxin project tightly in our hands and don't drag down stupid partners............

Jin Nanyong nodded and sat upright

Lee Jae-mo leaned against the soft chair back, and silently recalled the rise of Kumho over the years. There is a kind of pity that a strong man dragged his wrist. Samsung had the opportunity to strangle Kumho in the cradle.

As one of the world's earliest disc player manufacturers, Samsung launched the disc player in China as early as the end of 1994 and quickly replaced Wan Yan, which almost disrupted the disc player market at that time.

It was also that Samsung's Chinese company was too eager, perhaps too contemptuous of the market potential of the C-mount disc player as a transitional product. At that time, too much technical force was not invested so that Samsung's disc player products frequently experienced quality problems in 1995. In order to maintain Samsung's The brand's goodwill was forced to withdraw from the disc player market, but Chuhu timely adopted the latest mouth decoding technology at the time to fill the gap left by Samsung's withdrawal and became the dominant player in the D disc player market.

The d disc drive was originally a transitional technology before the launch of the dd disc drive and the technical threshold for entry was very low. There was a problem of excessive competition. Even if Kumho became the overlord of the d disc drive market, there was nothing to say in the global electronics industry.

Who would have imagined that Kumho Club will cooperate with Texas Instruments to upgrade the d disc drive technology to exhibit a new generation of cd disc drive technology? Although the cd player is still inferior to the technical staff, Kumho has carried out a wide range of cd industries in 1997, using the production and marketing of the CD player and even the pirated CD industry chain and other advantageous channels in the CD player. The whole industry will be upgraded at a thunderous time when it is too late. Second, at least until more advanced technology is popularized, Li Zaimo can't see the disc player market. There is a possibility that the c port will be replaced. Except for the current cd player in emerging countries and regions. Every year, the global sales volume reaches 28 million units and the sales volume reaches 40 billion Kumho's industrial company Aida Electronics directly controls Li Shao's disc player market share. In addition, Li Zaimo knows that Kumho also sells overseas. In the name of the company, the company and Texas Instruments also control the supply of cd decoding chips. The joint venture factory of Aida Electronics and Texas Instruments also controls the movement control of the cd sink. In addition to the cd, Kumho is also involved in the d four-disc market. Become one of the eight largest d bar manufacturers in the world

Some of Kumho's layout in the disc player industry are directly under the name of Aida Electronics, and some are carried out in the name of other joint ventures and wholly-owned companies. However, in the eyes of the public, Aida Electronics still concentrates the main resources of Kumho’s ship industry.

Although the competition in the disc player market is quite fierce, the net profit of Aida Electronics last year reached 1.2 billion Hong Kong dollars.

The market value of Aida Electronics in the backdoor market in May 1997 was 10 billion Hong Kong dollars. Affected by the Asian financial crisis, the market value once fell below 5 billion Hong Kong dollars. But in the past two years, it has been affected by the stimulus of the new economic wave. The market value of electronics once exceeded HK$38 billion

Of course, even if the market value of Aida Electronics breaks through 38 billion Hong Kong dollars, the P/E ratio is still less than 32 times, which is much lower than the average P/E ratio of 46 times in the new technology sector of the United Securities Market at that time. This is mainly due to Kumho's strict holdings. The responsibility of the major shareholder actively suppressed the excessive increase in the stock price and was therefore disliked by speculators. Although this time it will also be destined to be affected by the Internet bubble crisis, but with Aida Electronics' stable profitability in the industry layout and cost advantages And the price-earnings ratio itself is not too high, I believe that the market value of Aida Electronics will not fall too deep in the world.

In this regard, Kumho has shown a very different tolerance and ethics from Horizon. Kumho always resists the great fluctuations in the stock prices of its listed companies as much as possible. The strict supervision of the Hong Kong United Securities Exchange has a lot to do with it. However, Kumho does not bother to manipulate stock prices. The most direct example of this low-level money-making method is that Kumho has never made its subsidiaries public in the Chinese securities market. Efforts of Industry and City

Li Zaimo has deeply realized that Kumho is a group with a temperament that is very different from other Chinese companies. Before that, people’s general understanding of Chinese companies is especially so. It is especially important to pay attention to this company. Moreover, this company is more than ordinary people think. Much stronger

Kumho launched a portable music player Shuttle in 1998 that directly attacked the d player camp of Japanese electronics companies. It took only two years to pass through extensive technical licensing. The sales of Lipi in North America, Europe and even in Japan’s domestic market have continued. With the upgrading of flash memory technology, the high-end storage capacity has reached the desired storage capacity. The storage capacity is easy to be small and the low-end is called. It even had a strong impact on Kadigo portable music players. Kumho launched the low-end Jiacan products in the Chinese market this spring, priced at about 120 U.S. dollars, and began to compete for the portable music player in China from Sony...heavy rewards. The high-end market for music players

Samsung Electronics also chose to fall back to the d-A call-off camp between the d-print giant call-off and the d-technique. One-third of Kumho’s share of the global portable music market by Sakura is even more than Toshiba’s. Even if dshanp’s younger technology originates from Kumho, this is a result that no one had expected at the time.

Take a closer look at Global Music Online, which aims to build an online music store, and the infringement lawsuit with the Recording Industry Association of America in 1999, which lasted for six months. Kumho soared in the portable music player market.

At the beginning of the year, it was predicted that the starting point was quite obvious at this time. Kumho’s total sales of Jiawa this year is likely to exceed 5 million pieces. It is expected that Kumho’s global net profit at Jiacan products will exceed US$400 million next year. It is more likely to break through next year. 600 million U.S. dollars

Since the two core member companies of Kumho, Aida Group, are both private companies, there is no need to disclose financial data. In addition, Kumho uses many leafy and complicated companies in its system to undertake the business between different links. If it is not Samsung The internal health organization model of Kumho is similar to that of Kumho, but at the same time, it also pays attention to the market of Shenju. Otherwise, it is impossible to estimate the profit scale of Kumho's small and young products.

Kumho also obtained the full authorization of non-volatile flash memory patents from Toshiba through a technology exchange, so that the application of flash memory in the non-volatile flash memory market and Samsung Toshiba was three-quarters before the advent of Jiacan, although the demand for flash memory was extremely wide. The sales of some limited-order products have directly promoted the development of the non-volatile flash memory market. It is estimated that the total market demand this year will be close to 3 billion US dollars.

Kumho, Samsung, Toshiba, and will share the share of the 3 billion U.S. dollar market. Of course, Jae-mo Lee can clearly realize how amazing Kumho’s profit margins in non-volatile flash memory are, at least not better than Samsung Hua’s. Lower profit margins

Perhaps all the profits made by Kumho in the young giant gallbladders are not necessarily lower than the mobile phone business, but what has attracted public attention is that Kumho’s domestic mobile phone business, Aida Mobile, was second to Motorola in China last year with the hospital’s market share. The market share of Nokia and Samsung is ranked sixth in the Chinese market. In the past six months, that is, the first half of two thousand years, Kumho has sold 4 million mobile phones in the Chinese market to increase its market share in China. It’s a little bit higher and Samsung has worked hard for half a year to increase its market share... It seems that no matter what field there is no core product that attracts popularity, it’s always hard to see any improvement.

In addition to the Chinese domestic market, Kumho ranks fifth in the Southeast Asian mobile phone market and Samsung ranks fourth; it is difficult for external mobile phone companies to enter the Japanese market. Kumho and Samsung are no exception; however, Kumho and Samsung are expanding the market in Europe and the United States. Both have quite good results, especially Kumho’s mobile phone sales in North America have gradually improved since last year.

Since Kumho’s electronics industry is a high-margin industry category, and Kumho has dispersed its electronics industry among several member companies, Kumho’s annual profit in the electronics industry is relatively amazing, but its sales are far from the world. Of course, if all the businesses under Kumho’s business were counted in, then it would have been squeezed into the global top 500 rankings.

How can such Kumho eyes aim at the LCD industry not to worry?