Shenzhen Zowee Technology.Co.Ltd(002369) 2021: the profitability improved and the operating cash flow remained healthy

the financial report of 2021 disclosed on April 19, Shenzhen Zowee Technology.Co.Ltd(002369) 4 shows that the company achieved an operating revenue of 2.495 billion yuan, a net profit attributable to shareholders of listed companies of - 164 million yuan, a loss of 443 million yuan less than the same period of last year, and the profit situation tends to improve.

It is worth mentioning that Shenzhen Zowee Technology.Co.Ltd(002369) the cash flow from operating activities has always been very healthy. The net cash flow from operating activities in recent three years is 274 million yuan, 302 million yuan and 106 million yuan respectively, which continues to be at a high level, but still maintains a strong self hematopoietic ability.

According to the previous announcement, there are three main factors affecting the performance of Shenzhen Zowee Technology.Co.Ltd(002369) 2021: first, the lack of core leads to the decline of revenue and profit; Second, the company's Heyuan new plant started trial operation in 2021, and the production capacity was not fully released, but the high investment and high fixed cost in the early stage led to large losses; Third, due to the scrapping of a number of special production tools and fixed assets at the end of their life cycle, the company still has a net loss of tens of millions of yuan after the balance of non recurring profits and losses.

The analysis shows that the main factors leading to the loss of Shenzhen Zowee Technology.Co.Ltd(002369) 2021 are basically short-term and are expected to improve in 2022. For example, with the expansion of global wafer foundry enterprises, the lack of core in the market is expected to be improved in 2022; The Heyuan plant of the company will be put into trial operation in the second half of 2021, and is expected to be on track in 2022 to fully release production capacity, so as to achieve scale effect.

In 2021, in addition to the improvement of profitability over the previous year, Shenzhen Zowee Technology.Co.Ltd(002369) also did a lot of solid work, laying a good foundation for future performance growth. During the reporting period, the company carried out internal optimization or shut down some subsidiaries with poor business development and no signs of improvement in the future, returned to the main manufacturing track, deeply bound core customers, imported smart screen modules and other products, made full use of existing resources and platforms, and deeply explored the needs of strategic customers.

In the field of network communication terminal business, the company insisted on focusing on the main business, consolidated core customers, and reached in-depth binding cooperation on new platforms of routing and wireless broadband. At the same time, in order to strengthen customer adhesion, the company has increased the selection opportunities of product segmentation types and platforms, actively built R & D professional capabilities, provided customers with product design and development services, and successfully won many new development projects; On the basis of many years of experience in the production of portable electronic products, the quality of products has been rapidly improved, and the quality of products has been continuously improved on the basis of customers' needs.

During the reporting period, Shenzhen Zowee Technology.Co.Ltd(002369) also established an ODM business center to build a sustainable development R & D platform with ODM business as the core, and expanded the proportion of ODM business revenue with high gross profit margin. At the same time, the company also continued to strengthen the R & D capabilities in the four product areas of wireless broadband, intelligent whole house, intelligent wear and intelligent module of Internet of things during the reporting period, so as to optimize the customer structure and improve the profitability.

It is noteworthy that in the first quarter of this year, Xia Chuanwu, the founder of Shenzhen Zowee Technology.Co.Ltd(002369) returned to the position of actual controller of the company, recalled two veterans as senior executives of the company, and determined to lead Shenzhen Zowee Technology.Co.Ltd(002369) to create brilliance again.

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