Chengdu Galaxy Magnets Co.Ltd(300127) 3 on the evening of March 29, the annual report of 2021 was released. The company achieved an operating revenue of 861 million yuan in 2021, an increase of 42.51% year-on-year; The net profit attributable to the shareholders of the listed company was 194 million yuan, a year-on-year increase of 31.12%; The basic earnings per share is 0.60 yuan. The company plans to distribute a cash dividend of 4.5 yuan (including tax) to all shareholders for every 10 shares.
For the growth of operating revenue, the company said that it was mainly due to the increase in the sales of magnets for high-efficiency and energy-saving motors, automotive magnets and hot pressed magnets and the increase in the average sales price of products; The increase in net profit was mainly due to the impact of the increase in sales revenue.
The annual report shows that in 2021, due to the impact of covid-19 pneumonia epidemic, the company suspended some new projects of foreign customers and delayed the time of product loading, which slowed down the development process of the company’s foreign market. By vigorously exploring the Chinese market and the product market with rigid demand abroad, the company won more orders in the small incremental market space, and the market share increased steadily.
In 2021, the price of rare earth metals continued to rise all the way, and the price of praseodymium and neodymium metals doubled at the end of the year compared with the beginning of the year. In order to cope with the sharp rise in the cost of raw materials, the company conducted repeated explanation, communication and coordination with downstream customers, reasonably adjusted the price of products on the premise of safeguarding the interests of customers to the greatest extent, stabilized customers, obtained more orders, and the sales revenue of the company reached a new high.
