Beijing Roborock Technology Co.Ltd(688169) issued and listed at a high price, but now the performance has disappointed investors. The financial income generated by huge fund-raising can also increase the company’s net profit, indicating that the company’s operating profit is actually declining, and the eight shareholders have to reduce their holdings significantly. This situation needs to arouse the vigilance of investors.
An interesting thing is that Beijing Roborock Technology Co.Ltd(688169) 2020’s earnings per share is 21.43 yuan, and the 2021 performance express shows that the earnings per share is 21.02 yuan. The trend of rapid growth of the company’s performance has “slammed the brakes”. So what problems should investors understand from the performance express of Beijing Roborock Technology Co.Ltd(688169) 2021?
First of all, the performance in 2021 seems to be flat, but it already needs attention. From the initial fund-raising situation, the issuance price of the company was 271.12 yuan, the issuance volume was 16666667 million shares, and the actual funds raised exceeded 4 billion yuan. From the perspective of the company’s asset liability ratio in 2020 and 2019, this part of the raised funds increased the company’s net assets per share from 29.69 yuan at the end of 2019 to 106.71 yuan in 2020. At the same time, the company’s net profit increased from 780 million yuan to 1.37 billion yuan, which obviously contributed to the reduction of financial expenses. In 2021, the company’s performance growth stagnated due to the loss of the stimulation of raised funds. So in 2022, what reason do investors believe that the company’s performance can return to rapid growth?
Secondly, the eight shareholders of the company proposed to reduce their shares. Although they are all small non shareholders, it is obvious that the centralized reduction of shares by so many original shareholders can not be considered that they are optimistic about the future trend of Beijing Roborock Technology Co.Ltd(688169) . At the same time, judging from the trend of the secondary market, Beijing Roborock Technology Co.Ltd(688169) share price fell from the highest 149499 yuan to the current 649 yuan, which has explained some views of investors on the company’s future performance. Although this expectation is not necessarily accurate, investors should also pay attention to this risk.
Finally, the company is basically a light asset company. Once the company’s main products are competed by other enterprises or new products, the company’s performance may decline rapidly or even lose money. After all, the competition in the sweeping Siasun Robot&Automation Co.Ltd(300024) industry is becoming increasingly fierce. And sweeping Siasun Robot&Automation Co.Ltd(300024) is not just the need of consumers. Just like the evaluation of industry experts for door-to-door car washing in the past, car washing is just the need, but door-to-door car washing is not just the need. Sweeping the floor Siasun Robot&Automation Co.Ltd(300024) is the same. Sweeping the floor is just needed, Siasun Robot&Automation Co.Ltd(300024) sweeping the floor is not just needed.
For asset light companies, once there is an inflection point in the company’s performance, the company’s asset mortgage financing ability will become very fragile. Asset light has a strong driving force for the rapid growth of the company, just like the margin trading business used by investors, which can double the income of investors when making money, But when there is a stock price collapse, there will also be greater risks. Therefore, according to this column, asset light is also a double-edged sword. Once it encounters business difficulties, it will cause greater harm to investors.
It has always been emphasized in this column that it is necessary to be vigilant against companies with large reduction of original shareholders. This time, the total reduction of Beijing Roborock Technology Co.Ltd(688169) shareholders is planned to exceed 10%, which is already a large number. Investors should be vigilant. If investors are really optimistic about the future trend of Beijing Roborock Technology Co.Ltd(688169) , they should also wait for the dust of reduction of original shareholders to settle before buying, Now is not the most appropriate time to enter.
