Securities code: 002560 securities abbreviation: Henan Tong-Da Cable Co.Ltd(002560)
Henan Tong-Da Cable Co.Ltd(002560)
Record of investor relations activities
No.: 2021-003
■ target specific research □ analyst meeting
□ media interview □ performance briefing
Investor relations □ press conference □ Roadshow
Activity category □ site visit
□ others
Name and last name of participants: Lu Xu, fund manager of Investment Research Department of fuanda Fund Management Co., Ltd
Time: December 24, 2021
Location Henan Tong-Da Cable Co.Ltd(002560) conference room
Secretary of the board of directors of the listed company: Liu Zhijian name of the person waiting for the company securities affairs representative: Li Gaojie
Liu Zhijian, Secretary of the board of directors of the company, gave confidential tips and introduced the situation of Chengdu airlines, and then answered the questions concerned by shareholders.
1、 Introduction to Chengdu Airlines:
After the investor relations company acquired 100% equity of Chengdu Hangfei in 2016, Chengdu Hangfei has become an important support for the strategy of "based on the main business and deeply cultivating military industry" in the main internal division of listed public activities.
Rong introduced that Chengdu Hangfei has been deeply engaged in the field of aviation parts manufacturing for many years. It is mainly engaged in precision processing services of military aircraft, civil aircraft parts and medical equipment parts and aircraft process equipment manufacturing, especially in the manufacturing of structural parts such as frames, beams, ribs and joints of military and civil aircraft. At present, Chengdu AVIC's customers cover a number of military aircraft main engine plants subordinate to AVIC, as well as a number of scientific research institutes, AVIC international and Shinva Medical Instrument Co.Ltd(600587) . With strong technical strength and rapid business development, Chengdu Hangfei enjoys a high reputation in the field of precision machining of aircraft parts.
Chengdu Airlines began to build the "aviation parts manufacturing base project" in 2016, becoming the first private enterprise in China's aviation parts industry to introduce the most advanced German DST intelligent aviation parts flexible processing production line. After the completion of the project, it will fundamentally change the traditional mode of single person, dense personnel and low efficiency in China's aircraft parts processing, and then realize digital, unmanned, intensive and efficient intelligent and efficient production. Now the project has completed the installation and commissioning of some production lines and started mass production. 2、 Investor Q & A
1. What is the business composition of Chengdu Airlines?
A: at present, the revenue from military products of Chengdu Airlines accounts for about 90% of the total revenue of Chengdu airlines, and the other 10% is mainly the production and processing of medical devices and other civil products.
2. What is the construction situation of Chengdu Hangfei raised investment project?
Chengdu Airlines began to build the "aviation parts manufacturing base project" in 2016, becoming the first private enterprise in China's aviation parts industry to introduce the most advanced German DST intelligent aviation parts flexible processing production line. At present, the installation and commissioning of phase II equipment of aviation parts manufacturing base construction project has been completed and mass production has begun. The "aviation structural parts project in Xindu District" will be put into operation at the end of December 2021. After the project is put into operation, it will complement the "aviation parts manufacturing base project" to form a situation in which one plus one is greater than two. In the future, the company will strive for more business according to the development and changes of the industry and market, and carry out targeted capacity layout according to the customer's order demand. The construction of the company's existing raised investment projects has important strategic significance, which can further improve the company's processing process route, improve the workpiece precision and intelligent manufacturing level, and finally achieve the synchronous improvement of "quality" and "quantity", so as to meet the company's existing orders and future market increment. The company will actively promote the construction progress of raised investment projects, further improve the company's aviation parts manufacturing capacity, match the needs of downstream customers, enhance the industry status, and improve the company's market competitiveness and profitability.
3. What is the customer composition of the cable sector?
A: the main customers of the parent company are state grid, China Southern Power Grid, China Railway Corporation, etc. in recent years, it has successively developed high-quality customers such as China power construction, China energy construction and China's large real estate development companies. In the future, the company will continue to develop new customers on the basis of maintaining the stickiness of existing customers, so as to promote its rapid development and continuously improve the company's competitiveness, Return the majority of shareholders and investors with better performance.
4. The company carried out equity incentive in 2020 and set the operating revenue and profit growth indicators from 2021 to 2022. Can the company complete these indicators in the future?
A: in order to further establish and improve the company's long-term incentive and restraint mechanism, improve the company's business performance, fully mobilize the enthusiasm of the company's employees, effectively combine the interests of shareholders, the company and the operator's personal interests, make all parties pay common attention to the long-term development of the company, and ensure the realization of the company's development strategy and business objectives, Launch the restricted stock incentive plan in 2020.
The company has strong confidence in completing the equity incentive index. On the one hand, based on the comprehensive consideration of the market scale and growth of the company's wire and cable business segment and aviation segment, it has been fully demonstrated by the company. On the other hand, under the guidance of the state's "new infrastructure", "carbon neutralization" and the proposal of the CPC Central Committee on formulating the 14th five year plan for national economic and social development and the long-term goal of 2035, we will vigorously develop UHV construction, increase investment in railway construction and build a power system dominated by new energy Under the macro policy background of accelerating the upgrading of weapons and equipment and the development of intelligent weapons and equipment, it is expected to have a positive impact on the development of the industry.
In the future, guided by the dual main business development strategy of "based on the main business and deeply cultivating military industry" formulated by the board of directors, the company will further strengthen the company's R & D level, comprehensively do specialized, refined and strong cable and aviation parts business, and make timely decisions to adapt to the market and promote the stable and healthy development of the company according to the development strategy and actual operation, Enhance the company's business scale and competitiveness through endogenous development and extension expansion, and strive to build the company into China's leading military civilian integration platform in 5-10 years, create wealth for the society, provide greater impetus for the company's development, and repay the majority of shareholders and investors with better performance.
5. What is the expected composition of the company's operating revenue in 2022?
A: it is estimated that in 2022, the existing capacity in the cable sector can support the revenue scale of 1.5-2 billion yuan. At the same time, the new special cable workshop has been completed and is expected to be put into operation in early 2022. At the same time, the company has established Henan Tongda Jiutong cable Co., Ltd., which can greatly expand the capacity of medium and low voltage cables and photovoltaic cables of the company, The cable sector as a whole can maintain steady growth; With the gradual production of "construction project of aviation parts manufacturing base" and "R & D and production project of aviation structural parts in Xindu District", the new revenue of aviation parts sector is expected to reach 200-300 million yuan next year. The revenue of new materials sector from January to September this year is about 900 million yuan. Now the second production line has been completed and ready to be put into operation, and the production capacity can be doubled next year. Overall, it is expected that the cable sector will grow steadily next year, and the aviation parts sector and new materials sector will increase significantly.
6. Please briefly describe the 511 plan proposed by the company?
A: the company adheres to the development strategy of "based on the main business and deeply engaged in military industry", adheres to the innovative concept of "promoting development through research and development", takes market demand as the guidance, adheres to the business principle of people-oriented and honest management, constantly optimizes the performance and efficiency of strategic assets and expands the industrial layout. Strive to achieve the business goal of annual operating revenue of 10 billion and annual total profits and taxes of more than 1 billion within five years. Enhance the business scale and competitiveness of the company through endogenous development and extension expansion, and build the company into a leading military civilian integration platform in China, a leading enterprise in the wire and cable industry and aviation parts processing sector. Create wealth for the society, provide greater impetus for the development of the company, and repay the majority of investors with better performance.
7. Chengdu Hangfei's future plan?
A: after Chengdu Hangfei raised investment project is put into operation, the product manufacturing capacity has been greatly improved. In the future, we will vigorously develop intelligent manufacturing technology and flexible production line technology, and gradually develop from aircraft parts precision processing business to component assembly according to the actual situation of the market and the company. On the basis of consolidating the existing customer product market, we will deeply layout the product businesses such as China's military aircraft main engine factory and engine, and further improve the company's production scale and profitability. The rapid development of China's national defense equipment in recent years will provide a good opportunity for Chengdu aviation to develop at a high speed. Although the company now focuses on military aircraft, the company also has a forward-looking layout for the future civil aircraft market, and has always maintained business contacts with COMAC, Boeing and Airbus.
The company will seize the opportunity, actively use the existing production capacity, increase the production progress of new production capacity, and strive for greater development space, so as to improve the company's core competitiveness and profitability. List of attachments
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Date: December 24, 2021
