Securities code: 300602 securities abbreviation: Shenzhen Frd Science & Technology Co.Ltd(300602) Announcement No.: 2022-003
Shenzhen Frd Science & Technology Co.Ltd(300602)
Performance forecast for 2021
The company and all members of the board of directors guarantee that the information disclosed is true, accurate, complete and free from falsehood
Records, misleading statements or material omissions.
1、 Expected performance of the current period
1. Performance forecast period: January 1, 2021 to December 31, 2021
2. Expected performance: \uf0f0 loss \uf0f0 turning loss into profit \uf0f0 rising in the same direction √ falling in the same direction \uf0f0 basically flat
The current reporting period of the project is the same period of last year
(January 1, 2021 ~ December 31, 2021) (January 1, 2020 ~ December 31, 2020)
Profit attributable to listed companies: 32 million yuan ~ 40 million yuan
Net profit of shareholders: 208891500 yuan
Change range over the same period of last year: – 84.68% ～ – 80.85%
Deducting non recurring losses: – 127 million yuan to – 118 million yuan
Net profit after profit: 135.039 million yuan
Change range over the same period of last year: – 194.05% ～ – 187.38%
2、 Communication with accounting firms
The relevant data of this performance forecast is the result of preliminary calculation by the company’s financial department and has not been approved by the accounting firm
Audited. However, the company has pre communicated with the annual report audit accounting firm on matters related to the performance forecast,
There is no difference between the company and the accounting firm in the performance forecast of the reporting period.
3、 Explanation of performance change reasons
During the reporting period, it is expected to achieve an operating revenue of 300 million yuan in 2021, a slight increase over the same period of last year;
The net profit attributable to the shareholders of the listed company was 32 million yuan to 40 million yuan, down from the same period of last year
80.85%-84.68%。 The main reasons for the change of the company’s performance are as follows:
1. Due to the rise in the price of some raw materials in the upstream market, the company’s material procurement cost increases and the price of aluminum ingots increases
The average price of Georgia rose from about 15000 yuan / ton in the fourth quarter of 2020 to 22000 yuan in 2021/
Tons – 24000 yuan / ton, and the price of copper increased from the average price of 58000 yuan / ton in the fourth quarter of 2020 to
The average price in 2021 is about 70000-76000 yuan / ton, with a large increase in price, including aluminum profile, steel and plastic
The price of rubber particles and other materials also increased significantly. Affected by this, the gross profit margin of some products of the company declined.
In view of this situation, the company has negotiated with major customers on the rise of raw material prices, adjusted the sales prices of some products, strengthened strategic cooperation with major customers and established a price linkage mechanism. Meanwhile, the company will strive to improve its internal cost management, pay close attention to market changes and reduce the adverse impact of material price fluctuations on the company.
2. With the completion and operation of the company’s new project of Jiangsu high conductivity material science and Technology Park (hereinafter referred to as “Jiangsu Park”), the allocation of fixed costs of plant and equipment has increased significantly. During the reporting period, the fixed assets of Jiangsu Park increased by about 670 million yuan, including about 410 million yuan for houses and buildings and about 250 million yuan for machinery and equipment, resulting in a new depreciation and amortization of about 46 million yuan in 2021.
At the same time, in order to ensure the smooth development of production, and taking into account the early-stage manpower reserve demand for the release of the company’s business and capacity in 2022, the growth rate of personnel scale further increased in the second half of 2021, resulting in an increase in human costs, and the labor cost expenditure increased by nearly 90 million year-on-year.
The output scale of the above Jiangsu Park project in 2021 is low, and the scale effect has not been reflected. In the future, it is expected that with the full production of these projects, the scale effect will gradually appear and gradually translate into operating performance to promote the sustainable development of the company.
3. Affected by the Sino US trade conflict and the shortage of chip supply, the order volume of H customers decreased and the capacity utilization of the company’s mobile terminal decreased; On the other hand, affected by the overall 5g communication market industry, the market demand of the company’s base station antenna, antenna oscillator and other products did not meet expectations, which had a certain impact on the company’s overall sales and profits in 2021. In view of these situations, the company actively develops new customers and downstream markets. The production and delivery of some new customer orders are progressing smoothly, and various long-term sustainable development strategic layouts are advancing smoothly. It is expected that with the full implementation and delivery of new customer orders, the impact of the above market fluctuations on the company’s performance will be gradually reduced.
4. Provision for impairment of Goodwill: according to the requirements of the accounting standards for business enterprises, the company conducted a preliminary impairment test on Guangdong Bowei Communication Technology Co., Ltd. (hereinafter referred to as “Bowei communication”), and finally made a full provision for impairment of its goodwill, that is, a new impairment of 61.6343 million yuan in the reporting period. So far, the total goodwill of Bowei communication was 108.7303 million yuan. The recoverable amount and impairment of the final asset group shall be subject to the final audit of the annual accountant and appraiser.
5. During the reporting period, according to the relevant compensation agreement, the company has received a total of 51.1258 million yuan of performance compensation paid by the former shareholders of Bowei communication, Wu biqun, Guangzhou Boqun Investment Management Center (limited partnership), Cai Liang, Wu Huajian, Zhang Zhiguang, Liu Yu, Su Zhenhua and song Suli. Meanwhile, the original shareholders Wu biqun, Guangzhou Boqun Investment Management Center (limited partnership), Cai Liang, Wu Huajian and Zhang Zhiguang have changed their 22.8820% equity of Bowei communication to the name of the company. In conclusion, the company confirms that the performance compensation is expected to be about 100 million yuan. It is estimated that the non recurring profit and loss in the reporting period is 158 million yuan, mainly due to the impact of the above performance compensation income and government subsidies. The non recurring profit and loss in the same period of last year is 73.8525 million yuan.
4、 Risk tips
The provision for impairment of various assets accrued by the company in the current period is an uncertain factor affecting the accuracy of the performance forecast. The final amount of impairment provision will be determined after evaluation and audit by professional evaluation institutions and audit institutions hired by the company.
5、 Other relevant instructions
This performance forecast is the result of the company’s preliminary calculation and has not been audited by the audit institution. The specific financial data will be disclosed in detail in the 2021 annual report. Please make careful decisions and pay attention to investment risks. It is hereby announced.
Shenzhen Frd Science & Technology Co.Ltd(300602) board of directors January 20, 2022
