Last year, there was a net profit of 724 million yuan, but in the first quarter of this year, due to the sharp decline in the price of shares held, China Transinfo Technology Co.Ltd(002373) from profit to loss.
On March 29, China Transinfo Technology Co.Ltd(002373) ( China Transinfo Technology Co.Ltd(002373) ) released the annual report of 2021 and the first quarter forecast. It is disclosed that last year, the company’s revenue was 10.281 billion yuan, a year-on-year increase of 9.15%, and its net profit was 724 million yuan, a year-on-year decrease of 33.01%. In the first quarter of this year, the performance changed from profit to loss, and the loss is expected to be 240 million yuan to 290 million yuan.
Last year and the first quarter of this year, the decline of Hangzhou Hopechart Iot Technology Co.Ltd(688288) share price of China Transinfo Technology Co.Ltd(002373) joint-stock company has greatly affected China Transinfo Technology Co.Ltd(002373) performance. However, in terms of main business, the company has maintained growth, and the cost of R & D investment has increased accordingly.
shares lost about 200 million in the first quarter
According to China Transinfo Technology Co.Ltd(002373) disclosure, the change in performance in 2021 is mainly due to the change in the fair value of Hangzhou Hopechart Iot Technology Co.Ltd(688288) held by it due to market fluctuations, which has decreased significantly compared with the same period in 2020, and the increase in expenses due to the expansion of sales channels and the increase in R & D investment.
For the pre loss in the first quarter of this year, China Transinfo Technology Co.Ltd(002373) explained that the decline in the fair value of Hangzhou Hopechart Iot Technology Co.Ltd(688288) held by the company had an impact on the net profit of about 190220 million yuan, and the project belongs to non recurring profit and loss.
At the same time, affected by the epidemic, the company’s product sales decreased year-on-year, and the delivery of transportation solution projects was partially delayed, resulting in the corresponding delay in revenue recognition.
According to the enterprise investigation data, China Transinfo Technology Co.Ltd(002373) holds Hangzhou Hopechart Iot Technology Co.Ltd(688288) 4.98% shares.
According to the disclosure in the prospectus (application draft), Beida qianfang, a wholly-owned subsidiary of China Transinfo Technology Co.Ltd(002373) is the second largest shareholder of Hangzhou Hopechart Iot Technology Co.Ltd(688288) with a shareholding ratio of 19.94%. In September 2015, PKU qianfang transferred Hangzhou Hopechart Iot Technology Co.Ltd(688288) 55% equity at the price of 88 million yuan. As a holding subsidiary of PKU qianfang, Hangzhou Hopechart Iot Technology Co.Ltd(688288) was once included in the consolidation scope of listed company China Transinfo Technology Co.Ltd(002373) .
Since then, PKU qianfang transferred Hangzhou Hopechart Iot Technology Co.Ltd(688288) 18% and 12.49% of the equity twice in August 2016 and June 2017 respectively, which finally reduced China Transinfo Technology Co.Ltd(002373) ‘s shareholding in Hangzhou Hopechart Iot Technology Co.Ltd(688288) to less than 20%, and Hangzhou Hopechart Iot Technology Co.Ltd(688288) was stripped out of the consolidated data range of China Transinfo Technology Co.Ltd(002373) .
In March 2021, Hangzhou Hopechart Iot Technology Co.Ltd(688288) announced that Beida qianfang, the shareholder of the company holding 14.95% shares, planned to transfer its 5 million non tradable shares to China Transinfo Technology Co.Ltd(002373) , accounting for 5% of the total share capital of the company. The price was about 27.08 yuan and the transfer price was 135 million yuan.
According to the reporter’s statistics, after China Transinfo Technology Co.Ltd(002373) transferred Hangzhou Hopechart Iot Technology Co.Ltd(688288) shares, the Hangzhou Hopechart Iot Technology Co.Ltd(688288) share price once rose to 53.04 yuan, and then experienced ups and downs. As of the closing on March 29, Hangzhou Hopechart Iot Technology Co.Ltd(688288) reported 23.76 yuan / share, down 4%. Due to the accounting treatment of China Transinfo Technology Co.Ltd(002373) on Hangzhou Hopechart Iot Technology Co.Ltd(688288) equity, the fluctuation of stock price has a great impact on performance.
According to the annual report data disclosed by Hangzhou Hopechart Iot Technology Co.Ltd(688288) recently, the performance of the company is not ideal. Last year, the revenue was 406 million yuan, down 11.09% year-on-year, and the net profit was 29.39 million yuan, down 66.72% year-on-year.
In terms of investment, last year, the net cash flow generated by China Transinfo Technology Co.Ltd(002373) investment activities increased by 91.48% year-on-year, but it was mainly due to the decrease in the purchase of financial management in the current period compared with the previous period and the decrease in the expenditure on equity investment in the current period compared with the previous period.
In addition, the reporter noted that in terms of cash flow, the net cash flow generated from China Transinfo Technology Co.Ltd(002373) operating activities last year decreased by 81.59% year-on-year. The company said that it was mainly affected by the macro financial environment and the epidemic situation. Affected by the “lack of core” in the market, the company carried out a large number of material preparation. In addition, affected by the epidemic situation, the project collection in some regions in this period was slow. The company recruited employees to expand sales channels and increase R & D. personnel costs The increase in sales and R & D expenditure led to a large fluctuation in the net cash flow generated by operating activities in the current period.
main business keeps growing
However, China Transinfo Technology Co.Ltd(002373) the growth of main business income is relatively good. According to the annual report, in the overall revenue, the smart transportation business grew steadily, of which the cloud in the transportation industry increased by 56.30% year-on-year. Intelligent IOT business and artificial intelligence business also handed over the answers with growth rates of 15.11% and 43.22% respectively.
Specifically, in terms of business income, China Transinfo Technology Co.Ltd(002373) intelligent transportation business (excluding the contribution of video products from subsidiaries) achieved a total operating income of 4.231 billion yuan, a year-on-year increase of 0.02%. If the impact of etc products and the demolition of provincial toll stations is deducted, the income of intelligent transportation business increased by 19.52% year-on-year. Among them, the revenue of urban transportation business is 1.451 billion yuan, accounting for 34.30% of the revenue of intelligent transportation business; The revenue of intercity transportation business is 2.463 billion yuan, accounting for 58.20% of the revenue of intelligent transportation business; Other businesses achieved revenue of 317 million yuan, accounting for 7.50% of the revenue of intelligent transportation business.
In addition, the company’s intelligent IOT business (including the sales of some IOT products in the field of Intelligent Transportation) achieved a revenue of 6.074 billion yuan, a year-on-year increase of 15.11%; The revenue of artificial intelligence business was 87 million yuan, a year-on-year increase of 43.22%.
The financial report shows that China Transinfo Technology Co.Ltd(002373) continued to maintain high-intensity R & D investment in 2021, firmly promoted the technological innovation and application of intelligent transportation and intelligent IOT, and realized an efficient cycle of technological capacity-building and value creation. During the reporting period, the company invested 1.183 billion yuan in R & D, accounting for 11.51% of the total revenue.
It is understood that China Transinfo Technology Co.Ltd(002373) focuses on large-scale expansion in the field of intelligent networking in 2021. Yanchong Expressway and Jilin hunwu expressway, implemented under the leadership of China Transinfo Technology Co.Ltd(002373) and implemented by China Transinfo Technology Co.Ltd(002373) , have become a new generation of national traffic control network and smart highway demonstration projects. Among them, as a major traffic support project for the Winter Olympics, Yanchong expressway can support 80 km / h, L4 level automatic driving, vehicle road coordination based on cellular network technology, automatic driving queue following and other functional demonstrations in the future.
( China Transinfo Technology Co.Ltd(002373) official website screenshot)
In addition, China Transinfo Technology Co.Ltd(002373) also has a layout in the recent popular calculation from the east to the West. Previously, the company said on the interactive platform that qianfang’s storage business served the customers of Duoyun companies and the privatization deployment of various regions, and the annual sales of relevant storage businesses exceeded 600 million. In particular, it continued to strengthen the construction of computing power in the west, forming a practical and strong contribution to the national strategic direction of computing in the East and the west, such as providing object storage services for the edge cloud storage project of Chengdu mobile, providing file storage services for the construction project of Guiyang mobile computer room, and so on.
