From April 4 to April 6, among the listed companies surveyed by institutions, Aerospace Ch Uav Co.Ltd(002389) , Jinyuan Ep Co.Ltd(000546) , China Merchants Port Group Co.Ltd(001872) received 58, 44 and 21 institutions respectively. The key points of the survey are as follows.
Aerospace Ch Uav Co.Ltd(002389) research points: all raised investment projects are progressing steadily as planned, and the gross profit margin of this year is expected to be higher than that of last year
On April 2, several institutions conducted research activities on Aerospace Ch Uav Co.Ltd(002389) ( Beijing Huafeng Test & Control Technology Co.Ltd(688200) . SH). Du Zhixi, Secretary of the chairman, and Guo Jingrui, representative of securities affairs, answered questions from institutions.
Aerospace Ch Uav Co.Ltd(002389) mainly engaged in the research and development, production and sales of new materials. It is the first listed company in China with UAV as its main business.
1. All raised investment projects are steadily advancing as planned
The company has always maintained the overall layout of echelon R & D and joint promotion in the development of raised investment projects, and all raised investment projects are carried out steadily according to the planned R & D cycle. According to the raised investment project plan, the development cycle of the new concept UAV R & D project is 24-36 months, and the CH-4 enhanced UAV R & D project is faster; The planned development cycle of airborne weapon scientific research and industrialization project is about 24 months, and the construction cycle of industrialization plan is about 9 months.
2. The capacity construction of the three production bases has been basically completed
Beijing, Tianjin and Taizhou bases have different positioning. Beijing base focuses on R & D, general assembly and general adjustment; Tianjin base focuses on the R & D and production of special aircraft and the body structure production of medium and large UAVs; Taizhou base will build a mass production base for medium and large UAVs and airborne weapons. The company’s capacity release is positively related to market demand, and the capacity construction of each production base has been basically completed, providing a solid guarantee for the follow-up to meet the needs of customers outside China faster and better.
3. The gross profit margin of UAV sector has decreased for three consecutive years due to the change of income structure. This year’s gross profit margin is expected to be higher than that of last year
The revenue structure of the company’s UAV sector has changed greatly in recent three years, and the revenue of the Chinese market has increased significantly, realizing the “two wheel drive” of the international and China. In terms of gross profit margin of products, the gross profit margin of sales in China is relatively low compared with that at home and abroad, resulting in the decline of the overall gross profit margin of UAV sector. In the future, the company will continue to optimize its competitive strategy and strive to form a product premium in Chinese projects. At the same time, starting from the aspect of cost control, strive to build a high-quality UAV ecological chain, and make efforts to optimize and improve production links and strengthen supply chain management and control, so as to reduce costs and increase efficiency.
In 2022, with the return of foreign business to normal level and the increase of delivery quantity, the gross profit margin will increase; If the prices of major supply chains rise, the gross profit margin of China’s UAV business should not go down again; In addition, the continuous optimization of the two business structures of UAV and airborne weapons will also affect the level of gross profit margin; To sum up, the gross profit margin in 2022 is expected to be better than last year.
4. The overall investment in new materials business is limited, and dongxucheng reflective film project is expected to be put into operation in May
Since its establishment, the company has limited overall investment in the new material business, and is mainly committed to investing limited funds in the development of products with competitive advantages and maintaining the core competitiveness of the new material business at the level of deep processing. Dongxucheng reflective film project is expected to put all production lines into operation successfully in May this year. It is expected that the annual production capacity will not be released too quickly, and new products need to be integrated with downstream clients.
Jinyuan Ep Co.Ltd(000546) key points of research: strategic withdrawal from building materials and cement industry has passed the review, and the new energy industry will be focused in the future
On April 1, several institutions conducted research activities on Jinyuan Ep Co.Ltd(000546) ( Jinyuan Ep Co.Ltd(000546) . SH). Chairman Xu Gang and securities affairs representative Yang Xiaofen answered questions from institutions.
Jinyuan Ep Co.Ltd(000546) is a company engaged in building materials, real estate, trade and enterprise logistics business.
1. The strategic withdrawal from the building materials and cement industry has passed the review and will focus on the new energy industry in the future
At present, the company is starting to strategically withdraw from the building materials and cement industry, and relevant matters have been deliberated by the board of directors. After being approved by the general meeting of shareholders, the company will be listed in Hangzhou property exchange in time to complete the stripping of building materials and cement as soon as possible. In the future, the company will focus on the development of new energy materials industry and the sustainable development of low-carbon environmental protection industry with both solid and hazardous waste recycling and comprehensive utilization of rare and precious metals.
At present, the company invests in oupeng technology, an urban zero carbon transportation power system service provider. Its main business is the R & D and manufacturing of standardized lithium batteries for new energy vehicles, the ecological operation of new energy power exchange vehicles and the operation of intelligent energy network. It is committed to the use of power exchange technology with independent intellectual property rights, adaptive active balanced battery management system technology (BMS), ubiquitous power Internet of things communication chip technology and power battery echelon utilization technology, Build a four in one urban zero carbon transportation power system of “vehicle, station, electricity and network”.
2. The electrochemical deintercalation technology of lithium resources track company is dominant
At present, there is a large market space for lithium resources, and the market is far from reaching the monopoly position. The company has a flexible mechanism model and quickly established a professional technology and management team. At the same time, the company adopts the most advanced electrochemical deintercalation technology. The advantage of this lithium extraction technology is that it is different from other lithium extraction methods. It combines the separation and concentration of lithium in one step, so that the whole construction cycle is shortened, the cost is reduced, the quality is improved and stable. At the same time, there is no need for acid and alkali in the process of lithium extraction, which is especially suitable for the environmental protection requirements of some areas.
China Merchants Port Group Co.Ltd(001872) key points of investigation: the combined port project in Guangdong, Hong Kong and Macao is progressing smoothly, and it is expected to promote 10 docks this year
On April 2, several institutions conducted research activities on China Merchants Port Group Co.Ltd(001872) ( China Merchants Port Group Co.Ltd(001872) . SH). Wang Xiufeng, vice chairman and CEO, answered questions from institutions.
China Merchants Port Group Co.Ltd(001872) business scope includes: port and wharf construction, management and operation; Bonded warehousing of import and export goods; Development, construction and operation of port supporting parks.
1. Introduction to the company’s business in 2021
Business: in 2021, the company completed a container throughput of 136.39 million TEUs, a year-on-year increase of 12.0%, achieving double-digit growth. Among them, China’s port projects completed 95.14 million TEUs, a year-on-year increase of 10.9%, higher than China’s overall growth rate; Overseas projects completed 33.57 million TEUs, a year-on-year increase of 16.3%.
The company completed the bulk cargo throughput of 613 million tons, with a year-on-year increase of 35.0%, mainly benefiting from the joint-stock company Dalian Port absorbing and merging Yingkou port, which was changed to Liaoning Port Co.Ltd(601880) . Since February 2021, the company has included the business volume of Yingkou port in the statistics. Comprehensive development, intelligent information and auxiliary industries have also basically reached the expected indicators. Although the proportion is relatively small, there is a lot of room for growth.
Financial situation: in 2021, China Merchants Port Group Co.Ltd(001872) achieved an operating revenue of RMB 15.284 billion, with a year-on-year increase of 19.8%. The net profit deducted from non parent company was RMB 2.356 billion, with a year-on-year increase of 85.3%. Both reached record highs. It is mainly due to the rapid growth of business and the improvement of the operating efficiency of the main control and equity participation projects, which reflects the good performance of the core business of the port. The net profit attributable to the parent company was RMB 2.686 billion, with a year-on-year increase of 29.5%, and the roe reached 6.99%, with a year-on-year increase of 1.32 percentage points, realizing a large increase.
2, Guangdong Hong Kong Macao Great Bay area combined port project is progressing smoothly, and it is expected to promote 10 docks this year
The Guangdong Hong Kong Macao Great Bay area combined port project is a trade facilitation platform built by the company in cooperation with Ping An group. By the end of 2021, the combined port model has been extended to 10 Dawan District branch terminals such as Shunde and Beirong, and has completed the data upload and joint commissioning test of 14 combined port terminals, serving more than 1300 Dawan District import and export enterprises, helping the continuous improvement of trade facilitation in Dawan district. Today, the combined port mode is expected to continue to promote 10 terminals.
Research source: Aerospace Ch Uav Co.Ltd(002389) 2022 record of investor relations activities on April 2 Jinyuan Ep Co.Ltd(000546) 2022 record of investor relations activities China Merchants Port Group Co.Ltd(001872) 2022 record of investor relations activities.
