Simo International (06969.HK), the world's largest electronics foundry company, closed down 7%throughout the day, almost wiped out the total increase in the first four trading days.

At the market level, many information shows that the recent views on Simo International have a certain difference.

On the one hand, the data shows that as of January 10, Simo International has been reduced by nearly 21 million shares by southbound funds this month, while the nearly 20 trading days have been sold more than 40 million shares.

But on the other hand, CICC's research report pointed out that in new tobacco industries such as electronic cigarettes, Simo is expected to continue to improve its market share with its leading product technology, stable manufacturing system and innovative technology. Among them, the company has developed a new field of new areas such as atomized medical care, beauty, and health care to achieve breakthroughs. It is expected to build diversified growth and open the development of ceiling.

In addition, the official public account of Simo has recently disclosed that the company's first self -developed and self -developed "ventilator combined mesh atomizer system" won the best design award of the year in Taiwan, China. This is the first medical device award won by the global electronic atomization industry.

CICC believes that the new section of Simo's medical atomization has achieved substantial breakthroughs, which also means that the company's continuous high -intensity R & D investment is gradually entering the harvest period, helping to grow in the long -term and long -term long -term. CICC is also expected to be completed in 2023, the US PMTA audit of Simo's customers is expected to be completed. The company is expected to achieve continuous increase in share with its customer products that meet the regulatory requirements. In addition Essence

It is worth noting that on October 25, the Ministry of Finance, the General Administration of Customs, and the General Administration of Taxation jointly issued an announcement on the consumption tax levied on electronic cigarettes, incorporated electronic cigarettes into the scope of consumption tax collection, and added electronic cigarettes under the purpose of smoking tax. Starting from November 1, 2022, the electronic cigarettes have been calculated from the price rate to calculate the tax. The tax rate of the production (import) link is 36%, and the tax rate of the wholesale link is 11%.

The introduction of tax and regulatory policies will undoubtedly continue to compress the profit margin of electronic cigarette products. In the research report, CICC stated that due to the impact of the new national standard and consumer tax terminal, the short -term demand or impact of the domestic market, the proportion of domestic revenue in Simo may decline, but the market penetration rate increases the broad space. , Elimination of the industry's uncertainty, and the healthy development of the market specifications in the medium and long term.

The study of Tianfeng Securities shows that Simo International, as the world's largest fabricated equipment manufacturer, will accelerate the upstream and downstream concentration of the industrial chain, and the company is expected to continue to share the industry's excess growth. The company's revenue is expected to reach 141.0, 167.7, and 20.58 billion yuan in 2022-2024; the net profit after adjustment is 38.17, 51.01, and 6.405 billion yuan.