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Completely disagree. There did NOT need to be any material change to remove the POTENTIAL conflict of interest language that had been reported in the prior three reports. They specifically stated "POTENTIAL" because they did not know from a legal stand point. So they covered themselves until they received a legal opinion regarding the topic. And obviously, the legal opinion showed that there were no potential conflicts of interest, so they removed the language.
"Additionally, Foxconn is rumored to have invested heavily in this tech so that it wins iPhone orders in the future."
https://wccftech.com/apple-300-mini-led-micro-led-taiwan-factory/
Foxconn investing heavily into micro-LED.....hint, hint
https://www.patentlyapple.com/patently-apple/2017/11/future-foldable-iphone-may-use-a-micro-led-display-and-liquid-metal-as-a-shape-memory-alloy.html
https://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sl=auto&sp=nmt4&tl=en&u=https://www.qcc.com/firm_b361eb16a5d235ba53d47f2c63d6c38a.html&xid=17259,15700021,15700043,15700124,15700149,15700168,15700186,15700190,15700201,15700208&usg=ALkJrhg7BSMeYcahiQ6vkkpqydS_UMi38A
Here is some info about Liaoning Jinyan Liquid Metal Technology Co., Ltd.
This $20M Yuan is just for the R&D center, phase 1 of the project.
Phase 2 will be the larger investment into production. The fact that they are moving forward with this now is a good sign. It means increased demand is expected.
https://wccftech.com/apple-300-mini-led-micro-led-taiwan-factory/
Apple to invest $300M in a Mini and Micro LED plant in Tiawan.
Why is this relevant? Recall Josh's post...
Connection of DC106c (carbon tube):
https://www.patentlyapple.com/patently-apple/2017/11/future-foldable-iphone-may-use-a-micro-led-display-and-liquid-metal-as-a-shape-memory-alloy.html
https://patents.google.com/patent/CN108220828A/en?oq=CN108220828
Inventor :
Lugee Li (CEO, COB of LQMT, majority owners and controller of 41 others companies)
Lu Kun (GM, Executive Director and Legal Representative of LQMT-China)
Assignee :
Dongguan Subversion Product Design Co., Ltd. (One of 41 companies owned by Lugee Li)
Quote: "A further object of the present invention provides a method for preparing an amorphous alloy composite material, the method can improve the dispersibility of carbon nanotubes in the amorphous alloy material to improve the amorphous alloy material between the carbon nanotubes and bonding force; uses amorphous alloy composite material prepared by the process has good toughness and plastic deformation, while having a uniform microstructure, good interfacial characteristics."
I believe this is the "Phase 1" of the Liquid Metal project that got delayed a couple years ago (as referenced in the Eon statements). This is essentially the R&D phase of the project. The production phase was going to be phase 2. I think Phase 2 was to be 6-12 months after phase 1.
How Yi Hao Metal, Eontec and LiquidMetal fit together to form LQMT-China
http://5b0988e595225.cdn.sohucs.com/images/20171106/4d7a082d9c464dd0ae6cac0cd46b2926.jpeg
http://5b0988e595225.cdn.sohucs.com/images/20171106/77d6d5bb6dfa4ebbba66690b4bb4150b.jpeg
Yi Hao Metal - Eontec JV that is the actual execution engine for BMG
http://www.yihaometal.com
http://www.yihaometal.com/service
Note MIM and Mold Service
Hauck run out of excuse for LF power upgrade hold up.
http://www.yihaometal.com/cms/single/108.html
Does those slides look familiar?
Slide 1
Note 106C application. That's the formula to be used for cell phone exterior product (mid frame)
Slide 4
Note they have full end to end production capability and capacity of 0.5Milion mid frame per month only. Big whale (via big CM) needs to build their own production line with this very production foot print. Note minimum order is 200 Eontec 500-c machines.
http://www.yihaometal.com/parttener
China big whales are all there.
They also locked down both Lens Technology and Biel Crystal for the glass partnership.
http://guba.eastmoney.com/news,300328,778403890.html
This is most recent company participation in major event. For those who has attended the OH last year. They should recognize some of the faces.
Post compliments of Josh.
Which is why it is far more important for Li to make LQMT US successful rather than Eon. But he has to satisfy them first.
Where do you think Li would rather have his profits (money)? In the US or in China? PATIENCE
Quote:
If he just wanted the IP, he could have just waited another couple years when LQMT would have gone bankrupt. Why didn't he just do this?
He clearly has already benefited - 4yrs have passed and we have 4yrs left..
He most certainly has NOT benefited from the millions he spent. He lost control of Eon and Eon is not making huge profits on BMG to date. Your statement is completely false.
Quote:
Why did he spend so much legal effort to stop Kang here in the US if he only wanted the IP for China?
Because he wants to ensure he controls US market - notice the China market where the term is widely used but not much gumption to go after these firms - either that's because the IP of LQMT is in there via Eontec PLA(workaround 106c non-patent) or China is under different set of needs(control)
He CAN"T control the US market per the PLA. Please read it and learn it. NA and EU belong to LQMT - period. Again, your answer is completely false.
Quote:
Why would Eon have forced him to sign a non compete agreement if they knew it was just an IP grab?
Because he brought the ideas and information to them, the know how stays with Eontec and via Yihao, which is affiliated. The Non-Compete actually reinforces the IP grab.
FALSE, it does nothing to reinforce your theory of an IP grab. Your statement is absurd. If they only wanted the IP, they would have cared less about competition.
Quote:
Why would he have cared to cut operating expenses at LQMT if he only wanted the IP?
He surely doesn't want LQMT to go under - if it veered this way, he would simply buy it out for pennies on dollar. Cutting operating expenses is simply a way to elongate the future opportunity but by no means is it a reason that he still doesn't have an advantage if LQMT went BK..
This completely contradicts what is stated above. If all he wanted was the IP, he WOULD have waited for LQMT to go bankrupt then swooped in to get it much cheaper. There is no getting around this.
Quote:
Why wouldn't he have taken a bloated salary like past CEO's to get some of his money back if he only wanted the IP?
Bromage got this - only room for one bloated salary..
Another non-answer from you. Didn't address the question.
I have provided nothing but FACTS to support my statement and you have responded with nothing but SPECULATION to try to support your tin foil theory.
If he just wanted the IP, he could have just waited another couple years when LQMT would have gone bankrupt. Why didn't he just do this?
Why did he spend so much legal effort to stop Kang here in the US if he only wanted the IP for China?
Why would Eon have forced him to sign a non compete agreement if they knew it was just an IP grab?
Why would he have cared to cut operating expenses at LQMT if he only wanted the IP?
Why wouldn't he have taken a bloated salary like past CEO's to get some of his money back if he only wanted the IP?
I could go on, but the list of reasons is endless. He clearly intends to make LQMT successful. Whether or not he succeeds, time will tell.
Yes, it is filed in China, not here. The manufacturer is located in China, hence the agreement location. Just as Eutectix agreement was filed here.
NASA is not military. A material is not a special secret technology. Anyone in the world can make BMG.
Should the US have kept titanium or kevlar secret for just the military? Do you think that would never have gotten out. The Chicomms have already produced a copy of one of our newest fighter jets.
Directly from the PLA between LQMT & Eon:
"7.1. Term. The term of this Agreement commences on the Effective Date and shall continue in perpetuity unless the Parties mutually agree to terminate the Agreement or unless terminated earlier as set forth below."
The PLA lasts forever or until cancelled by either party.
The 5 years is the "Joint Development Period" not the PLA. This is where the companies work together to develop new materials (ie LM106C) to be used by both companies. And this can be renewed.
You should try actually reading the document before posting about it.
They made $25K in Licensing and royalties in Q1 2020. They made $0 same time last year in this category. And only $48K in all of 2019. So clearly there is an increase in revenue in this area. And there must be a reason for it. We shall see as this year unfolds.
They would not have put this statement in there if what you state is correct. Think about it. Clearly they are speaking of future opportunities for LQMT (and not Eon).
They cut their operating costs in half, which is outstanding. Only a net -746K, in a quarter where every company's sales revenue took a hit, is also very promising. With no debt and $20M in cash, this company has a long time to start turning a profit. Much better than I expected.
The article uses both terms, "liquid-metal" and "liquid metal ". Perhaps the author didn't know what he was writing. Also, this term is not being used to describe an amorphous alloy or metallic glass. I believe the company has gone after other companies that used either of these terms to describe their amorphous metals. But I am not aware of them going after any company for using this term for simple melted metals or even metals that are liquid at room temperature (gallium, etc. ).
We here the term liquid metal paste used as a thermal barrier on CE components, which has been around for many years. So if it is not an amorphous alloy, not sure much can be done.
Not BMG, Aluminum alloys, copper, bronze, other metals...
And is additional evidence that the theory of IP theft is completely absurd. Why would Eon care about a non-compete contract if all they wanted was IP? The more knowledge one has about this company the more one understands Li's intentions are to succeed with this company. Only time will tell if he is successful.
Yes, it wasn’t by chance that Li became involved with LQMT. He was brought in by a whale.
Here is what Josh posted a while ago....same language....highlighted in red.
"Li was in contact and signed agreements with lqmt since March 2011...interesting.
I have highlighted the area of concern...
In terms of amorphous alloy (liquid metal), the main products of the issuer are structural components such as mobile phone trays and mobile phone middle frames, and the products are concentrated in the fields of consumer electronics and automobiles. LQMT is mainly engaged in the research and development and sales of amorphous alloy (liquid metal) products. LQMT currently produces products in small batches of molds, medical device housings and clamps, and does not have the capability of mass production. In summary, due to the characteristics of product specificity and customization-oriented production mode, there are obvious differences between the issuer and LQMT. 2) Both parties serve target customers in different industries Different product types determine that the issuer has different customers from LQMT. The issuer's customers are mainly concentrated in the consumer electronics industry and the automotive industry. In the field of amorphous alloys (liquid metal), the company has entered such well-known customers as Jinli, NVIDIA, Moto, Geli, Huawei, Qiku 360, Haienmai Electronics. Supply chain, and close cooperation with well-known new energy auto manufacturers such as BYD, will develop more consumer electronics, automotive customers in the future; and LQMT's target customers are mainly concentrated in small medical appliances and other industries, providing related spare parts. . Therefore, there is a significant difference between the target customers of the two. The comparison between LQMT and the issuer's main amorphous alloy (liquid metal) products is shown in the following table: Company name Main amorphous alloy (liquid metal) products LQMT Medical clamps, medical device housings, etc. Yi'an Technology USB decorative parts, SIM card tray 3) The cover holder has independent procurement and sales channel resource procurement. The issuer has standardized procurement channels and processes, and has established a complete qualified supplier management system. The company's raw materials are directly sourced from domestic suppliers and there is no sharing of procurement resources with LQMT. In terms of sales, the issuer relies mainly on the technological advantages of the company and adopts a marketing method that provides a separate solution for each customer. Due to the essential difference between product use and marketing methods, there is no sharing of sales channel resources between the company and LQMT. Through the verification of LQMT's major customers and suppliers in the past two years, it has not found that the company has a coincidence with LQMT's major customers and suppliers. LQMT and the issuer's 2015 and 2016 amorphous alloy customers and suppliers comparison table see question 1 reply (1) 2, Liquidmetal Technologies, Inc. in terms of customers, suppliers, technology, equipment, production sites, manpower, etc. Applicant's relationship. 4) The company's core technology has independent intellectual property rights. 13 From the company's patent list, most of its core technologies are independent research and development, and other parts are jointly developed with non-related parties such as the Institute of Metal Research of the Chinese Academy of Sciences and Jiamusi University. The technology has independent intellectual property rights and there is no patent ownership with LQMT. The company's list of authorized patents can be found in Question 1 (1) 2. Liquidmetal Technologies, Inc.'s relationship with the applicant in terms of customers, suppliers, technology, equipment, production sites, and manpower. 5) The company has independent R&D resources. The company has independent R&D team and reserve talents in the field of amorphous alloy (liquid metal). Through independent innovation, the company has mastered a number of core technologies and has independent patents, and established a sound technology research and development. The transformation and engineering research system, the company's entire research and development resources are the main business services, there is no research and development resources relying on LQMT, talents for research and development. 6) There is a big gap between the two business scales. There is a big gap between LQMT and the issuer's operating scale. The comparison between the issuer's and LQMT's operating income is as follows: Unit: 10,000 yuan 2016 Annual 2015 Project Yi'an Technology LQMT Yi'an Technology LQMT Operating income 56,302.53 332.98 55,522.61 81.17 Operating profit 2,875.80 -50.64 5,104.57 -145.46 Note: Data from both parties The annual report of the announcement, LQMT financial data is converted according to the central parity of the US dollar against the RMB exchange rate announced by the People's Bank of China at the end of each year. The central parity of the US dollar against the RMB exchange rate at the end of 2016 is 6.9370. At the end of 2015, the central parity of the US dollar against the RMB exchange rate was 6.4936 LQMT and the issuer. The business scale of the company is huge. Compared with the issuer, LQMT's 2015 and 2016 operating revenues are 0.15% and 0.59% of the issuer's operating income, respectively. Even in comparison with the revenue of the issuer's amorphous alloy (liquid metal) products, LQMT's 2015 and 2016 revenues were only 2.45% and 10.57% of the issuer's amorphous alloy (liquid metal) product revenue. Therefore, it can be seen that there is a large gap between the two scales. 7) The actual controller's commitment to avoid horizontal competition 14 Although the actual controller of the company and other companies controlled by it and the listed company do not constitute substantial horizontal competition, in order to avoid potential horizontal competition, and to further standardize actual control Mr. Li Yangde, the actual controller of the issuer, issued the “Commitment Letter on Avoiding Horizontal Competition” and “Commitment on Standardizing Related Transactions and Avoiding Horizontal Competition” on March 19, 2011 and March 10, 2016 respectively. Letter, Mr. Li Yangde made a commitment in the "Commitment Letter on Standardizing Related Transactions and Avoiding Horizontal Competition": Liquid Metal Technologies, lnc. will hold Liquidmetal Technologies, lnc. under the following conditions: Liquidmetal Technologies, lnc. All shares were transferred to Yi'an Technology: “(1) Liquidmetal Technologies, lnc. achieves a turnaround and eliminates major uncertainties in business operations and profitability, and can generate sustainable benefits. (2) Compliance with overseas Chinese companies Investment and supervision of acquisitions of companies outside China (3) To meet the relevant requirements of the regulatory authorities for the profitability and legal compliance of the underlying assets in the process of supervision of the listed company's (significant) assets acquisition.” The company's actual controller, Mr. Li Yangde, acquired Liquidmetal Technologies, Inc. It is conducive to promoting cooperation between issuers and LQMT, further strengthening the production technology of amorphous alloys (liquid metal), accelerating the commercial application of amorphous alloys (liquid metals), and improving the technological content of the company's amorphous alloy (liquid metal) products. Added value to create new profit growth points for the company. In summary, the issuer and LQMT are significantly different in terms of product type, target customer, business scale, etc., and the issuer has independent procurement and sales channels, independent intellectual property rights and R&D resources. There is substantial horizontal competition. (2) Whether there is any violation of the actual controller's relevant commitments. The actual controller of the issuer, Mr. Li Yangde made the following commitments on March 19, 2011 in the Commitment Letter on Avoiding Horizontal Competition: “1. I and I The holding company currently does not operate the same or similar business as the company and the company's controlling subsidiaries. 2. During the period when I have actual control of the company, I and my holding company will not engage in any form with the company or company within and outside China. A business activity in which the holding company's main business or main products compete or pose a competitive threat, including companies, enterprises or other companies that invest, acquire, merge or entrust management in China or abroad, which are the same or similar to the company's main business or major products. Economic organization; If the company and the company's holding subsidiaries develop new business areas in the future, the company has priority, and the companies and companies that I and the company invest in will no longer develop similar businesses.” March 10, 2016, the actual issuer Mr. Li Yangde, the controller, is in the regulation of related party transactions. And the Commitment Letter to Avoid Competition in the Same Industry: “1. In addition to investing in Liquidmetal Technologies, Inc., and integrating the research and development technical resources of Liquidmetal Technologies, Inc. with Yi'an Technology, I currently have no future. (As a direct or indirect shareholder, director, supervisor or senior executive of Yi'an Technology), it will not actively or indirectly engage in or participate in any business or activity that commercially competes with Yi'an Technology. The shareholder status of Liquid Metal Co., Ltd., in accordance with the relevant laws and regulations, prompted Liquid Metal Co., Ltd., Liquidmetal Technologies, Inc. to engage in R&D and production activities within the existing business scope, and not to create new horizontal competition with Yi'an Technology. I and my associates will put an end to all actions that take up the funds and assets of Yi'an Technology. Under no circumstances shall Yi'an Technology provide any form of guarantee or capital occupation to other enterprises and economic organizations that I invest or control. 4. I and my associates will do my best. We can avoid and reduce the related transactions with Yi'an Technology, and the related transactions that cannot be avoided or have reasonable reasons will follow the principles of fairness, fairness and openness in the market, and sign agreements and perform legal procedures according to law, in accordance with Yi'an Technology. The company's articles of association, relevant laws and regulations, etc. fulfill the information disclosure obligations and relevant approval procedures, and ensure that the legitimate rights and interests of Yi'an Technology and its minority shareholders are not damaged through related party transactions."
I believe this is from 2016 when Li bought in to LQMT. It is essentially just a non-compete agreement assuring Eon that he will not use LQMT to compete with Eon and they will both work cooperatively to expand the market for both companies. I'm sure Eon's lawyers required this.
They can now make 128 parts per mold! That is HUGE!
"In a recent study, a total of 128 parts (32 per cavity), which can be seen on the back cover of this paper, from a four cavity sales sample mold were inspected. The four measurements are plotted below. Each cavity plot includes the calculated six-sigma capability of that cavity. Additionally, the combined six sigma capability across all four cavities (128 parts) was calculated and plotted. The colored lines in each of the following four charts represents the individual cavities and the solid black line represents the combined six sigma plot for all four cavities. Along with the tables cavity(s) displayed, note the summary capability data from this study as well. As you can see from the data, the Liquidmetal process provides significantly high levels of precision and repeatability, far better than many other metal forming technologies. The specifications for this component are very narrow and are even more challenging when asked to comply with them within a Six Sigma capability."
Cost comparison of high strength alloys vs. LQMT:
"Looking again at the part drawing in Figure 4, you will notice rather narrow specification limits for the linear and angular call-outs. Additionally, there is a very high surface finish
requirement, a raised logo, and high strength, hardness, and corrosion resistance as defined by the LM106c alloy designation. One way to achieve these specifications is through machining a high strength corrosion resistant alloy, and then superfinishing for
the final finish requirement. This would be a very expensive machined part, likely costing upwards of $100 in quantities of tens of thousands of parts per year. With Liquidmetal technology, this part would cost less than $3."
LQMT continues to make improvements to their process. In the latest design guide they can now make parts up to 700 g !! This is big enough for an iPad shell.
DESIGN CRITERIA
• Part weight up to 700 grams
• Maximum dimension of 300mm
• Outer draft angles of 0.5O to 3O
• Inner draft angles of 1O to 5O
• Wall thickness 0.3mm to 3.5mm
Seems you "cherry picked" your data. Why not look at the entire history of the companies stock price? Back in June 2002, it reached $22.50 on the mere speculation. Divide that by 10 as there are now 10X more shares than back then. And what does that give you for today's share price?
This doesn't even take into consideration of the time value of money. Remember, today's definition of small cap is $1B-$5B market cap. Much more money out there today. Market caps in the billions is not uncommon at all anymore.
So reaching a dollar on the media noting this companies materials use is no far reach at all. Brand name is everything.
The Street: "The float is the number of shares actually available for trading. Float is calculated by subtracting closely held shares -- owned by insiders, employees, the company's Employee Stock Ownership Plan or other major long-term shareholders -- from the total shares outstanding."
Li's shares clearly fall under "closely held shares -- owned by insiders"
as he has made a written pledge to move these shares to Eon once LQMT is profitable. That means he is holding them.
So once again, you are WRONG.
End of discussion? LOL You crack me up.
That patent for the sponge has EVERYTHING to do with LQMT my friend. That is how 106C is made. No other BMG formulas use this. So yes Materion is still involved with LQMT. And as the other poster noted, you can go to Materion's website right now and click on high performance alloys under products and see BMG listed there. And it still states they are a Liquidmetal Certified Partner.
So yes, they were not happy at the open house because they just learned that Li had a new cheaper recipe using Zirconium sponge which will be a fraction of the cost of their existing products. That is why they said at the open house that they will be cutting their prices.
So they thought they were going to be cut out. But Li, being the shrewd businessman, kept them involved so that Liquidmetal could have a full US supplier (Materion) and manufacturer (Eutectix) of 106C.
Beginning of discussion.
Ummm, no they do not have "thousands of BMG patents". More fake information from the haters.
https://patents.justia.com/assignee/materion-corporation
Here is the patent I was referring to. It is specific to the use of zirconium sponge which is specific to LM106C. So clearly Materion is still quite involved with LQMT.
"Fact 2) Materion HAS washed its hands of LQMT and its corrupt management."
Materion patent "Methods for making zirconium based alloys and bulk metallic glasses" Date of Patent: December 3, 2019
If Materion has washed its hands of LQMT, why did they just file a patent for the making of LQMT's LM106C alloy?
https://patents.justia.com/assignee/materion-corporation
"FACT 4) The EXACT same finger was given to ENGEL at the same OH.
Eontec has NOT purchased ANY ENGEL machines for itself or Dong Guan affiliates. The LQMT LF ENGEL machines have been MOTHBALLED indefinitely (meaning: forever. LQMT USA will NEVER buy any ENGEL machines again. Why? BECAUSE ENGEL IS SELLING their OWN VERSION of a machine MUCH IMPROVED over the MOTHBALLED MACHINES of LQMT LF."
FROM 10K:
"Eutectix Business Development Agreement
On January 31, 2020, we entered into a Business Development Agreement (the “Agreement”) with Eutectix, LLC, a Delaware limited liability company (“Eutectix”), which provides for collaboration, joint development efforts, and the manufacturing of products based on our proprietary amorphous metal alloys. Under the Agreement, we have agreed to license to Eutectix specified equipment owned by us, including two injection molding machines, the Machines, and other machines and equipment, all of which will be used to make products for our customers and Eutectix customers. The licensed machines and equipment represent substantially all of the machinery and equipment currently held by us. We have also licensed to Eutectix various patents and technical information related to our proprietary technology. Under the Agreement, Eutectix will pay us a royalty of six percent (6%) of the net sales price of licensed products sold by Eutectix, and Eutectix will also manufacture products for us. The Agreement has a term of five years, subject to renewal provisions and the ability of either party to terminate earlier upon specified circumstances."
Engel's machines have NOT been mothballed. FICTION
It has “optical image stabilization” (OIS) in the cameras which is highly likely to contain BMG.
The website is not new, but it was just updated as the page you listed is new.
The Materion connection to Eutectix is very important because they will likely be our US supplier of LM106C to Eutectix. I recall about a year or so ago, a patent filed by Materion for making BMG using Zirconium sponge. This is a specific process to making the lower cost LM106C. And I didn't understand why at the time as I thought Eon would be supplying. Now I understand why, because Materion will be the official US supplier (even if raw material is from Eon). The gives the US customer a US supplier and manufacturer to make LQMT products.
"405,000,000 shares of common stock held of record by Liquidmetal Technology Limited. Professor Li is the majority owner, officer, and director of Liquidmetal Technology Limited and has sole power to direct the voting and disposition of such shares;"
Seriously?? It's in every friggin financial report LQMT puts out. The fact you don't understand this tells me you haven't a clue about this company. And try to sling as much mud (false theories) as you can at the company and expect others to respond.
Here I will do it this time for you....from the last 10K: "405,000,000 shares of common stock held of record by Liquidmetal Technology Limited. Professor Li is the majority owner, officer, and director of Liquidmetal Technology Limited and has sole power to direct the voting and disposition of such shares;"
It's been documented that Li is the sole owner of shares in LQMT HK. Stop posting false conspiracy theories.
What "safe guards" are you referring to? A patent only lasts a certain amount of time. We are talking about a material here. There are hundreds of BMG formulas out there.
No, what is paltry is the Q4 LQMT revenue for Licensing and royalties of only $48K.
We will see if that number changes Q1 2020...
That's NET income. Not total.
So Eon gets $3.25M US ($23M Yuan) in license fees. I don't think that would be enough to move the needle for them in Q1 2020. Since they made the statement that licensing fees income effected Q1 2020 profit, and we know their operating revenue was down due to the virus, the license revenue must have been much more than $3.25M. So this may tell us that this JV (Ningde Sanxiang)is not producing for Huawei and there is another larger producer making parts for them.
"Yi'an Technology released the first quarter performance forecast, with an estimated profit of 23.3449 million yuan-25.2903 million yuan, an increase of 260% -290% over the same period of the previous year. From January to March, the company was affected by the epidemic and its operating income declined slightly. At the same time, the company's technology licensing fee income affects the company's net profit."