On January 28, Shenzhen Inovance Technology Co.Ltd(300124) (hereinafter referred to as ” Shenzhen Inovance Technology Co.Ltd(300124) “, securities code: 300124) released the record form of investor relations activities on the interactive platform. The company received research from Rheos capital, BOCOM Schroeder, Oriental Asset Management, Harvest Fund, ICBC Credit Suisse and other institutions from January 24 to 28.
pre increase of net profit in 2021 exceeds 55%
the overall demand of downstream industries increased better
On January 26, Shenzhen Inovance Technology Co.Ltd(300124) released the performance forecast for 2021. In 2021, the company is expected to realize an operating revenue of 16.116 billion yuan – 18.418 billion yuan, with a year-on-year increase of 40% – 60%; The net profit attributable to shareholders of listed companies was RMB 3.255 billion-3.675 billion, with a year-on-year increase of 55% – 75%.
Shenzhen Inovance Technology Co.Ltd(300124) said that there are two main reasons for performance changes. On the one hand, due to the good growth of the overall demand of downstream industries, the general automation business, new energy vehicle business and industrial Siasun Robot&Automation Co.Ltd(300024) business of the company have achieved rapid growth; On the other hand, due to the change of product revenue structure and the price rise of bulk commodities and chips, the comprehensive gross profit margin of the company’s products decreased year-on-year.
The main products of Shenzhen Inovance Technology Co.Ltd(300124) include frequency converter, servo system, control system, industrial Siasun Robot&Automation Co.Ltd(300024) and so on, which are used in five fields: industrial automation, elevator, industrial Siasun Robot&Automation Co.Ltd(300024) , new energy vehicles and rail transit. Among them, industrial automation, elevator and industrial Siasun Robot&Automation Co.Ltd(300024) related businesses contributed nearly 90% of the total revenue.
the number of shareholders increased by 320 compared with the previous period
each household holds 1281500 yuan
On January 28, Shenzhen Inovance Technology Co.Ltd(300124) disclosed in the interactive exchange of Shenzhen stock exchange that the number of shareholders of the company as of that day was 106700, an increase of 320 or 0.30% over the previous period (January 20, 2022).
Shenzhen Inovance Technology Co.Ltd(300124) the number of shareholders is higher than the industry average. According to the data of China stock market news choice, as of January 28, 2022, the average number of shareholders of Listed Companies in the mechanical equipment industry was 31200. Among them, the number of shareholders of the company is in the range of 10000 ~ 20000, accounting for the highest proportion, 34.79%.
As of the closing before the Spring Festival on January 28, 2022, Shenzhen Inovance Technology Co.Ltd(300124) share price reported 59.99 yuan / share, up slightly by 2.55%, with a total market value of 158.1 billion yuan.
the following is the main content of this research meeting:
Q: can you introduce some changes of the company in 2021?
answer: 2021 is a crucial year for the company’s reform. The company has made more achievements in the promotion of reform. At the same time, based on the sorting of corporate governance and corporate strategic reform projects in 2020, the record form of investor related activities has also been greatly promoted in the human resources system and strategic direction. Specifically:
(1) management reform of the company: the most important project of the company’s reform in 2021 is the reconstruction of IPD process. From the company level heavyweight team to IPMT at each product end, it has been implemented from the perspective of organization and responsibility, and the operation is good.
(2) incentive system in 2021: in terms of the construction of employee incentive system, a multi-level incentive system of “fixed salary + year-end bonus + project award + equity incentive + performance incentive fund” has been formed, which has played a good role in the retention and recruitment of the company. In his new year’s speech in 2022, president Zhu proposed the strategy of “cultivating the middle class of corporate culture”, which is also an important part of the company’s incentive system in the past 2021.
(3) from the perspective of the company’s strategy: ① some achievements have been made in the project implementation from digital business organization to product platform and then to client, and platform products will be released in 2022. ② Energy management business based on dual carbon: some deployment has been made in 2021, which will be one of the key directions in the future. At present, the business is advancing as expected.
Q: how does the company view the industry demand of industrial control market in 2022?
answer: in 2021, the growth rate of the company’s industrial automation business segment is still fast, but this relatively rapid growth is caused by many factors, which is not normal. The growth rate began to slow down in the third quarter of 2021, which is back to normal. In 2022, the company believes that automation will still maintain a normal growth rate. In this case, Huichuan’s goal is to maintain the double growth of income and profit, which is higher than the growth of the industry. Based on the rapid improvement of Huichuan’s brand in the field of industrial automation and localization in recent years, the company is confident to achieve higher growth than the industry in 2022.
Q: the company defines 2022 as the “year of internationalization”. What is the general planning for the strategy of going to sea?
answer: the company has several strategies to implement for increasing overseas business expansion:
(1) from the perspective of personnel cooperation: local employees have a deeper understanding of the industry and solutions than the investor relations activity record form, and foreign employees have a better understanding of the local market. We should send Chinese employees to fight with foreign employees.
(2) industry line going to sea: our expansion in the Chinese market has contacted some multinational enterprise customers. Taking the frequency converter market as an example, Huichuan has contacted many multinational enterprises from air compressor, air conditioning and refrigeration, textile and other industries in the Chinese market. Their branches in China have purchased Huichuan products on a large scale. In these industries, we have formed more distinctive solutions and better brands. We use “solution + brand” to extend to their overseas branches along the line of multinational enterprises.
(3) overseas manufacturing: in the future, the company plans to set up manufacturing bases in Europe and Asia to meet the needs of continuous production. At the same time, localized manufacturing will expand overseas markets and reduce the difficulty of Chinese brands going to sea.
Q: Siasun Robot&Automation Co.Ltd(300024) is growing very fast. What do you think of the medium and long-term development of this business?
answer: there are two logics for the growth of China’s Siasun Robot&Automation Co.Ltd(300024) Market:
(1) machine agent: from the original machine agent of automobile and 3C industrial chain, it has gradually extended to other industries.
(2) Siasun Robot&Automation Co.Ltd(300024) should also be localized: from the feedback of downstream customers contacted by the company, the trend of Siasun Robot&Automation Co.Ltd(300024) localization also tends to be obvious. Corresponding to the development of Siasun Robot&Automation Co.Ltd(300024) business of the company, although the scale of Siasun Robot&Automation Co.Ltd(300024) business is still small, it has always been a key development direction of our company.
Our Siasun Robot&Automation Co.Ltd(300024) business has good advantages, namely: ① autonomy of core components; ② The application of Siasun Robot&Automation Co.Ltd(300024) is complex and needs to be combined with the downstream process. We know the expanded industry process better. Combined with the general development trend of Siasun Robot&Automation Co.Ltd(300024) market and the advantages of the company, it is expected that the company’s Siasun Robot&Automation Co.Ltd(300024) business will have a good development momentum. At the same time, this good development momentum also has certain strategic significance for the company: the downstream around which the company focuses is still focusing on single equipment automation. As the downstream gradually extends to production line automation, the company’s solution will gradually cover the production line automation demand investor relations activity record form through the supporting integration of Siasun Robot&Automation Co.Ltd(300024) . In this process, Siasun Robot&Automation Co.Ltd(300024) is an important link.
Q: can you make a general outlook and plan for new energy according to the industry expectation and fixed-point rhythm?
answer: the company’s new energy vehicle business has achieved good growth in 2021, mainly due to the rapid development of the customer base of new forces in vehicle manufacturing. The company has many fixed-point models in 2020 and 2021, and it tends to be more reasonable from the perspective of fixed-point customers and product structure in 2021: in addition to obtaining the fixed-point of new models of new forces for car manufacturing, it has also obtained more fixed-point of traditional car enterprises. The past fixed-point projects will support the growth of the company’s new energy vehicle business in the next few years. In 2022, the company strives to achieve breakeven or slight profit in the automobile sector.
Q: there was still order delivery pressure for new energy vehicles last year. What kind of delivery can be met this year?
answer: the delivery pressure of new energy vehicle business in 2021 is large, mainly for two reasons: ① there is a certain bottleneck in the company’s own production capacity, especially the production capacity of motor and reducer; ② The electronic control IGBT chip is out of stock. In order to solve the capacity bottleneck, the company added a production line in 2021 to alleviate the three in one capacity; In addition, the new plant in Changzhou is expected to be delivered and put into use this year, which is still helpful to our current capacity mitigation. At present, the supply of vehicle regulation IGBT is tight, and the company still needs to continue to do a good job in ensuring the supply.
\u3000
