What is the uniqueness of Amethystum compared with the benchmark of E-Hualu and Tongyou Technology?(2)
The salary level is higher than E-Hualu and the product price is lower than the opponent.
Amethystum said in the inquiry letter to the Shanghai Stock Exchange that the benchmarking enterprise is E-Hualu and Tongyou Technology, and the response took a lot of space to explain the comparison between the company and E-Hualu. The description of "competitive disadvantages" compared with their opponents, " E-Hualu is a listed company, a subsidiary of a central enterprise, and has stronger financial strength and market development resources."
“E-Hualu, a listed company in the same industry, is also vigorously developing optical storage. According to the 2018 annual report of E-Hualu, the paper proposes E-Hualu Data Lake as a new-generation information infrastructure standardized by the city is a new generation of green data center with optical and magnetic fusion, hot and cold hybrid, cloud computing, cloud storage and artificial intelligence services. "The prospectus said.
“The unit price of optical storage equipment does not differ significantly from the E-Hualu’s products of listed companies in the same industry”, but Amethystum said, “The average salary level of issuer R&D personnel is within the comparable company range of the same industry, higher than that of E-Hualu which also engaged in optical storage and is possess of competitiveness ." The average
salary of R & D personnel was CNY197,500 in 2018, and E-Hualu was CNY118,800.
On April 30, 2019, the announcement of the transaction of the Blu-ray storage equipment project of the Minnan Data Lake Phase I (Demonstration Park) optical and magnetic integrated data center, the amount of the project is CNY134 million, E-Hualu provides the E-Hualu Blu-ray Disc The products of the library products (including CD-ROM, CD-ROM and operating system) are 83 sets/sets, and the average price is 1.620 million CNY/set. E-Hualu’s this model device can hold 5,472 Blu-ray discs.
Amethystum said that the company's "comparable optical storage device is capable of accommodating 6120 Blu-ray Disc ZL6120 series optical storage devices. In 2018, the average unit price of ZL6120 series optical storage devices directly sold by the company was 1,183,300 CNY/set (including Tax), the sales price of optical storage equipment of the same specifications of the company is not significantly different from that of the same industry company."
CNY 1,183,300 to CNY 1,620,200, the price of Amethystum products is obviously lower than E-Hualu.
Amethystum also said that the issuer and E-Hualu’s the "digital economic infrastructure" business is the most comparable, E-Hualu’s the "digital economic infrastructure" business centered on the data lake ecology is based on optical and magnetic integration of big data storage The platform construction business is similar to the issuer's main business. The issuer's gross profit margin is basically consistent with E-Hualu's “digital economic infrastructure”.
Amethystum explained that “the company’s storage equipment is easy to install and easy to use after arrival, and there are no special installation requirements. The company’s revenue is confirmed by the customer’s acceptance time, and the same industry listed company that also sells its products and equipment. The recognition of the same technology revenue is consistent; the listed company E-Hualu focuses on the system engineering business, which mainly based on the percentage of completion method to confirm revenue."
However, Amethystum also stated that “ E-Hualu a system engineering business, mainly based on the percentage of completion method to confirm revenue, which is not comparable.” “E-Hualu’s customers are mainly traffic management departments of local governments, and the income shows an obvious season. "In the report period, the gross profit margin of the company's main business and E-Hualu's relatively comparable business gross margins are basically the same, both maintained at around 50%."
Amethystum also said that the main customers are third-party data center operators, telecom operators and terminal customers during the reporting period. All three types of customers have the nature of terminal customers, which is similar to the gross profit margin of the same industry companies directly facing the end customers and is possess of rationality.
What is the uniqueness of Amethystum compared with the benchmark of E-Hualu and Tongyou Technology?(1)
Amethystum releases an optical storage data report: optical storage media as optimal solution for data storage in the future