On March 15, Ningbo Yunsheng Co.Ltd(600366) disclosed the annual report of 2021. The report shows that the company achieved an operating revenue of 3.754 billion yuan, a year-on-year increase of 56.47%; The net profit attributable to the shareholders of the listed company was 518 million yuan, a year-on-year increase of 191.55%; The net profit attributable to shareholders of listed companies after deducting non recurring profits and losses was 356 million yuan, a year-on-year increase of 426.44%. After 2020, the company’s main business indicators have achieved rapid growth again.
Ningbo Yunsheng Co.Ltd(600366) is a leading supplier of rare earth permanent magnet materials in the world. Its products are widely used in green energy-saving and environmental protection fields such as new energy vehicles, consumer electronics, urban rail transit, industry Siasun Robot&Automation Co.Ltd(300024) , energy-saving appliances and wind power generation. The company has two main production bases in Ningbo and Baotou, with an annual production capacity of 12000 tons of billets. Baotou base takes advantage of its short transportation radius of raw materials to mainly focus on mass production of Nd-Fe-B blanks; Relying on its core technology and process, Ningbo base focuses on the production and processing of Nd-Fe-B finished products.
In 2021, the company seized the market opportunity of rapid growth in the subdivided fields under the goals of carbon peak and carbon neutralization, focused on the downstream application scenarios in the three major fields of new energy vehicles, consumer electronics and industrial applications, continued to expand its market share, and the production and marketing scale of main products NdFeB achieved significant growth.
In the field of new energy vehicles, adhering to the strategy of big customers and big projects, the company has become an important supplier for customers such as Byd Company Limited(002594) , continental Europe, Schaeffler, Xiaopeng and Weilai, and has reached strategic cooperation relations with manufacturers of electric drive systems such as Zhejiang Founder Motor Co.Ltd(002196) , Wolong Electric Group Co.Ltd(600580) and was allowed to enter its supply chain system. During the reporting period, the sales revenue in the field of new energy vehicles exceeded 700 million yuan.
In the field of consumer electronics, the company is the main magnetic material supplier of a 3C intelligent electronics giant in the world. In the face of increasingly fierce competition, the company has strengthened the development of Android mobile phone projects, implemented internal technology improvement and enhanced market competitiveness. During the reporting period, the sales revenue exceeded 1 billion yuan. In the field of HDD Hard disk, the company closely followed the needs of customers and strengthened the development of new products. When the global HDD Hard Disk shipments were basically flat, the company’s VCM business shipments increased by 30% and the global market share was about 30%, further strengthening the company’s leadership in this field.
In the field of industrial application, the company has made multi-point efforts, continuously increased the market share of servo motors, made major breakthroughs in the market of variable frequency air conditioning and wind power generation, and steadily promoted the market expansion of industrial energy-saving motors and elevator traction machines. During the reporting period, the sales revenue in the field of industrial applications exceeded 1.5 billion yuan.
It is worth noting that while the business grows rapidly, the profitability of the company continues to improve. The gross profit rate of neodymium iron products increased by 26.6% year-on-year in 2021; By continuously promoting information construction and optimizing management processes, the management expenses decreased by 125818 million yuan year-on-year, a decrease of 6.58%; By promoting the key customer strategy and improving the market development efficiency, the sales expenses decreased by 5.3398 million yuan year-on-year, a decrease of 8.21%. In addition, focusing on the basic technology of rare earth permanent magnet materials, the industrialization technology of major research projects and the industrialization of application technology, the company has increased its R & D efforts. During the reporting period, the R & D expenditure increased by 870827 million yuan year-on-year, applied for 11 invention patents, authorized 13 invention patents (including 1 U.S. patent), 1 utility model, and participated in the formulation of 9 national standards, Achieved high-quality development.
