Photovoltaic adhesive film industry chain tracking: Shenzhen Gas Corporation Ltd(601139) vs Hangzhou First Applied Material Co.Ltd(603806) vs Shanghai Hiuv New Materials Co.Ltd(688680)

Today, we will track the recent performance of the photovoltaic adhesive film representative company. From the recent growth of participants in the industrial chain:

Hangzhou First Applied Material Co.Ltd(603806) – in the first three quarters of 2021, the operating revenue was 8.93 billion yuan, a year-on-year increase of 63.27%, and the net profit attributable to the parent company was 1.336 billion yuan, a year-on-year increase of 53.37%.

Shanghai Hiuv New Materials Co.Ltd(688680) – in the first three quarters of 2021, the operating revenue was 2.002 billion yuan, an increase of 120.76% year-on-year; The net profit attributable to the parent company was 121 million yuan, a year-on-year increase of 3.95%, which was greatly affected by the rise in the price of raw materials.

Shenzhen Gas Corporation Ltd(601139) – in the first three quarters of 2021, the operating revenue was 14.573 billion yuan, a year-on-year increase of 44.66%; The net profit attributable to the parent company was 1.204 billion yuan, a year-on-year increase of 10.25%. The high growth of natural gas income in the main industry is mainly due to the increase of power demand and the shortage of hydropower supply. On January 10, the company released the performance express for 2021: the revenue in 2021 was 21.4 billion yuan, a year-on-year increase of + 43%, and the net profit attributable to the parent company was 1.34 billion yuan, a year-on-year increase of + 2%. The sales of natural gas increased rapidly, but the price of upstream gas source increased, resulting in the profit growth rate being lower than the revenue growth rate.

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