Continuous optimization of product structure Hangzhou Weiguang Electronic Co.Ltd(002801) 2021 net profit increased by more than 30%

Benefiting from the rapid development of cold chain logistics and the policy promotion and market recognition of energy-saving and efficient motors, Hangzhou Weiguang Electronic Co.Ltd(002801) ( Hangzhou Weiguang Electronic Co.Ltd(002801) ) developed steadily and performed well last year. On March 22, Hangzhou Weiguang Electronic Co.Ltd(002801) released the reality of 2021 annual report. During the reporting period, the company achieved revenue and net profit of 1.112 billion yuan and 254 million yuan respectively, with a year-on-year increase of 39.27% and 31.53% respectively; The basic earnings per share was 1.11 yuan, a year-on-year increase of 32.14%; It is proposed to distribute a cash dividend of 5 yuan for every 10 shares.

Engaged in R & D, production and sales of motor, motor and micro fan. It is understood that the company’s main products freezer motor, external rotor fan and ECM motor are one of the main parts of cold chain equipment. The sales of supporting cold chain equipment account for more than 70%. The development of cold chain logistics is related to the prosperity of the company.

In recent years, the state has attached great importance to cold chain logistics, and the central and local governments have intensively issued policies to support the development of cold chain industry. In 2019, the “cold chain logistics” was held at the meeting of the Political Bureau of the CPC Central Committee, requiring the implementation of the urban and rural cold chain logistics infrastructure weakness patching project. No. 1 central document has repeatedly stressed the importance of strengthening China’s Shenzhen Agricultural Products Group Co.Ltd(000061) cold chain logistics system. In December 2021, the general office of the State Council issued the “14th five year plan” for the development of cold chain logistics, creating a good policy environment for the development of China’s cold chain logistics industry. The national development and Reform Commission has issued the implementation plan for the construction of national backbone cold chain logistics bases, which plans to build 100 national backbone cold chain logistics bases by 2025. The development of cold chain logistics will bring development opportunities to Hangzhou Weiguang Electronic Co.Ltd(002801) China.

In addition, in October 2021, the Ministry of industry and information technology and the State Administration of market supervision jointly issued the motor energy efficiency improvement plan (20212023), which mentioned that the main objectives are: by 2023, the annual output of high-efficiency and energy-saving motors will reach 170 million KW, and the proportion of in-service high-efficiency and energy-saving motors will reach more than 20% Hangzhou Weiguang Electronic Co.Ltd(002801) product ECM motor and servo motor are energy-saving and efficient motors.

According to the data, in 2021, Hangzhou Weiguang Electronic Co.Ltd(002801) ecm motor and servo motor achieved sales revenue of 155 million yuan and 50 million yuan respectively, with a year-on-year increase of 51.61% and 41.25%. The sales revenue of servo motor and ECM motor increased by 1.2 percentage points, and the product structure of the company was continuously optimized. With the promotion of policies and the acceptance and recognition of the market, the company has huge growth space for energy-saving and high-efficiency motors, and the proportion of energy-saving and high-efficiency motors in the company’s operating revenue is expected to continue to rise.

The annual report also shows that Hangzhou Weiguang Electronic Co.Ltd(002801) is actively implementing the innovation driven development strategy, continuously improving the ability and quality of R & D team, accelerating the process of new product development and industrialization, enriching product series, increasing product varieties, 29 company level new product projects and 8 provincial new product appraisals; There are 61 authorized patents, including 4 invention patents, 53 utility model patents, 4 appearance patents and 4 software copyrights. Servo motors 60st and 180st are listed in the equipment product catalogue of “energy efficiency star” of the Ministry of industry and information technology (2021). In view of the shortage of foreign chip supply, actively develop the drive controller based on domestic chip to ensure the smooth progress of production; In view of the sharp rise in the price of raw materials, continuously optimize the design scheme and increase the competitiveness of products. In 2021, the company invested 44.412 million yuan in R & D, a year-on-year increase of 30.01%.

It is worth noting that Hangzhou Weiguang Electronic Co.Ltd(002801) investment structure and quality are also constantly optimized. In 2021, the company invested 10 million yuan to participate in the establishment of Hangzhou CAITONG Haixin equity investment partnership (limited partnership), accounting for 121936%. The fund specially invested in haisuxin (Hangzhou) Technology Co., Ltd. The company invested 7.5 million yuan to participate in Zhejiang Shunyun Internet Technology Co., Ltd., the main operator of “motor industry brain” in Zhejiang Province, accounting for 5%. The company also invested 12 million yuan to participate in the entry of Jiangsu youanshi battery material Co., Ltd. into the lithium iron phosphate industry, accounting for 20%. In addition, in 2021, the company completed the transfer of 100% equity of Hangzhou Xianghe.

For the development in the next five years, Hangzhou Weiguang Electronic Co.Ltd(002801) said that the company will further consolidate the leading position of refrigeration motor and fan and expand the application of products in power, communication and other fields in combination with the national “double carbon” strategy. Increase investment in R & D and industrialization of energy-saving and efficient motors, servo motors, servo systems, motion control, Siasun Robot&Automation Co.Ltd(300024) and automation, and cultivate and expand new driving forces. At the same time, build a new development pattern with China’s big cycle as the main body and China’s international double cycle promoting each other, and strive to achieve high-quality, sustainable and rapid development.

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