By XU Shiqi
GoerTek, a Chinese acoustic components company listed on the Shenzhen Stock Exchange, had seen its share price collapsed by over 30 percent in the past week, after it announced Tuesday that it had suspended production of one of its intelligent acoustic products, due to problems with “an overseas partner.”
The problem, believed to concern the AirPod Pro 2, is expected to affect 3.3 billion yuan (US$460 million) of this year’s operational revenue, 4.2 percent of the firm’s entire revenue in 2021. GoerTek expects to fulfill its disclosure responsibilities soon, in accordance with regulations.
On November 9, analyst GUO Mingji suggested that production of the AirPod Pro 2 may have been suspended because of production problems rather than demand issues. Guo said that in a bid to fill the production gap, Apple supplier Ritsu Precision had expanded capacity and secured all orders for the Pro 2.
It's unclear if or when GoerTek will resume production of the Pro 2, or whether the fallout will extend to next year’s Apple orders or other Apple products.
GoerTek claims to have the largest market value among acoustic companies on the Shenzhen exchange. According to its H1 report, revenue in the period was 43.6 billion yuan, of which 12.3 billion yuan came from intelligent acoustic machines.
The Q3 report shows that in the first three quarters, GoerTek achieved revenue of 74.2 billion yuan, an increase of 40.5 percent, year-on-year.
