The performance forecast of listed companies reveals the “heat” of the industry. According to statistics, as of January 20, 612 A-share companies have disclosed performance forecasts for 2021. Among them, 510 companies are expected to have year-on-year growth in annual performance, accounting for 83%; 86 companies have pre reduction, slight reduction, continued loss, first loss and uncertainty due to various reasons.
By industry, the performance of cyclical sectors such as nonferrous metals and basic chemicals, as well as high-end manufacturing sectors such as electronics, new energy, power equipment and mechanical equipment, is more eye-catching. The performance of Listed Companies in some industries declined due to factors such as changes in the market environment.
more than 200 companies doubled their performance
510 companies expect year-on-year growth in annual performance (according to the lower limit of year-on-year growth of predicted net profit, the same below), accounting for 83% of the above 612 companies. Among them, 365 companies were added in advance, 112 companies increased slightly and 33 companies reversed losses.
Specifically, 345 companies expect the lower limit of year-on-year increase in net profit in 2021 to exceed 50%. Among them, 203 companies are expected to increase by more than 100% and 14 companies by more than 1000%.
Under the high climate of the industry, the simultaneous rise in the volume and price of main products and the continuous optimization of production capacity structure have become the main reasons for the significant pre increase in the performance of relevant listed companies. Taking Sichuan Hebang Biotechnology Co.Ltd(603077) as an example, the company expects to achieve a net profit of 3 billion yuan to 3.3 billion yuan in 2021, with a year-on-year increase of 7227.36% to 7960.09%. For the reasons for the large increase in performance, the company said that it benefited from the improvement of environmental protection requirements, the further clearing of backward production capacity, the superposition of downstream demand growth and the rise of product sales price.
Also benefiting from the increase in product prices are Inner Mongoliayuan Xing Energy Company Limited(000683) , Jiangsu Yida Chemical Co.Ltd(300721) , Qinghai Jinrui Mineral Development Co.Ltd(600714) . Jiangsu Yida Chemical Co.Ltd(300721) it is expected to achieve a net profit of 120 million yuan to 150 million yuan in 2021, with a year-on-year change range of 3191.27% to 3964.09%. The company said that the prosperity of the chemical industry is high, and the prices of the company’s alcohol ether and alcohol ether ester series products are at a high level, which makes the company turn loss into profit in 2021 and has a large increase in performance.
Among the 86 companies with poor performance, 21 companies are expected to be reduced, 30 companies are slightly reduced, 13 companies are expected to continue the loss, 19 companies are expected to make the first loss, and 3 are uncertain. Among them, Jiangsu Zhongli Group Co.Ltd(002309) is expected to lose 4 billion to 3.2 billion yuan. Due to the explosion of private network communication business, the impairment of assets of accounts receivable, prepayments and inventories of private network communication business involved by the company, together with the provision of estimated liabilities for guarantee of subsidiaries and the provision of losses for long-term equity investment, totaled about 2.2 billion yuan. In addition, the company expects a total loss of about 1.1 billion yuan in photovoltaic business due to the sharp rise of main raw materials for photovoltaic manufacturing and sea freight.
It is worth mentioning that many companies belong to the “first loss”, and thermal power enterprises generally face large losses. For example, Shenyang Jinshan Energy Co.Ltd(600396) it is estimated that the net profit loss in 2021 will be 2.038 billion yuan to 1.8 billion yuan; Shanghai Electric Power Co.Ltd(600021) it is estimated that the net profit loss in 2021 will be RMB 1.985 billion to RMB 1.785 billion; Zhejiang Zheneng Electric Power Co.Ltd(600023) it is estimated that the net profit loss in 2021 will be 1.14 billion yuan to 760 million yuan.
high end manufacturing and other sectors
Since 2021, the cycle sector and new energy vehicle industry chain have performed well.
In terms of the chemical sector, more than 80 chemical companies have issued performance forecasts for 2021, with an increase of more than 50 companies with an increase of more than 100%. Among them, Inner Mongoliayuan Xing Energy Company Limited(000683) , Yunnan Yuntianhua Co.Ltd(600096) , Chtc Helon Co.Ltd(000677) and other companies expect the net profit to increase by more than 10 times year-on-year in 2021.
The high outlook of the new energy industry has promoted the rapid growth of industrial chain companies, Guangdong Tonze Electric Co.Ltd(002759) , Do-Fluoride New Materials Co.Ltd(002407) , Shenzhen Dynanonic Co.Ltd(300769) , Tao technology and other companies have handed over beautiful “answers”.
Guangdong Tonze Electric Co.Ltd(002759) it is expected to achieve a net profit of RMB 700 million to RMB 750 million in 2021, with a year-on-year increase of 6593.57% to 7057.39%; Do-Fluoride New Materials Co.Ltd(002407) it is expected to achieve a net profit of 1.23 billion yuan to 1.33 billion yuan in 2021, with a year-on-year increase of 2429.7% to 2635.37%; Shenzhen Dynanonic Co.Ltd(300769) it is expected to achieve a net profit of 760 million yuan to 830 million yuan in 2021, with a year-on-year increase of 2775.91% to 3022.37%; Guangdong Dowstone Technology Co.Ltd(300409) it is expected to achieve a net profit of 495 million yuan to 605 million yuan in 2021, with a year-on-year increase of 717.96% to 899.73%. For the reasons of performance growth, many factors such as the large increase in demand for main products due to the growth of new energy automobile industry and the sufficient product orders under the high boom of new energy industry have been mentioned.
Listed companies from electronics, high-end manufacturing and other fields frequently reported good results for the whole year.
Jilin Sino-Microelectronics Co.Ltd(600360) it is estimated that the net profit attributable to shareholders of listed companies will increase by 207.18% to 246.67% year-on-year in 2021. The company said that during the reporting period, the market demand was strong, the company’s sales revenue increased, the gross profit increased, and the net profit attributable to the shareholders of the listed company increased compared with the previous year.
key industries
With the continuous disclosure of performance forecasts of Listed Companies in the industrial chain, market institutions are monitoring the “heat” of industrial companies.
Zheshang Securities Co.Ltd(601878) the research report shows that the companies that have disclosed the performance forecast are relatively bright as a whole. In terms of profit growth, the carbon neutralization industry chain is expected to grow rapidly, with leading performance in environmental protection, basic chemical industry, non-ferrous metals and power equipment industries in 2021.
Securities firms have analyzed key industries. Huaan Securities Co.Ltd(600909) pointed out that in 2021, lithium battery midstream materials benefited from the high growth demand of downstream, and the performance showed a high growth trend. At present, battery factories and material factories have steadily expanded their production capacity, the production schedule of each link has climbed month by month, the demand of the middle and downstream has been increasing, and the volume of non power batteries, such as energy storage, has gradually increased. It is suggested to pay attention to the battery factories with global competitiveness and the midstream material links where the relative supply and demand is still tight, such as negative electrode materials, diaphragms, etc.
For the basic chemical industry, Boc International (China) Co.Ltd(601696) pointed out that most of the companies expected to have a significant year-on-year increase in net profit attributable to the parent are concentrated in sub industries such as soda ash, pesticide and chemical fertilizer. Among them, the growth rate of parent net profit of soda ash and chemical fertilizer enterprises was more than 100%, and that of pesticide enterprises was more than 50%, mainly because the product price increased significantly and the profit increased. The enterprises whose net profit attributable to the parent company is expected to decline year-on-year are mostly concentrated in other chemical products industries. The decline of net profit is related to factors such as rising raw material prices and limited capacity utilization. In addition, the new production capacity is gradually increased, and a number of chemical enterprises with new materials are expected to have a significant increase in the net profit attributable to the parent company in 2021.
