Review of the 2013 Annual report and the first quarter report of 2014
Chuangyuan Technology achieved 2.233 billion yuan in revenue in 2013, an increase of 10.82% over the same period last year, and the net profit attributed to the parent company was 41.07 million yuan, an increase of 724.62% over the same period last year. In addition to the increased profitability of the sales growth pole, there are also the following reasons for the substantial increase in profits: 1, the investment income has increased by 17.74 million yuan compared with last year; 2, the cost has been effectively controlled; 3. Last year, the company's performance base was too low, and the net profit in 2012 was only 4.9875 million yuan. Chuangyuan Technology's revenue in the first quarter of 2014 was 584.7 million yuan, up 12.04 percent from the same period last year, and the net profit attributed to the parent company was 13.59 million yuan, up 5.03 percent from the same period last year.
Main points of investment
The company's double main business is growing steadily, and other small businesses are developing well.
Revenue from clean environmental protection and insulators increased by 13.68% and 9.49% respectively compared with the same period last year. By improving the grade and quality of products, the profit margin of the main business increased by 4 percentage points compared with the same period last year. The overall trend of the non-main business sector is improving. Precision bearing plate main business income and profits maintain double-digit growth; surveying and mapping equipment plate began to rise slightly, abrasive plate stop losses stabilized, there is a good trend of development.
Cutting into the reform of state-owned enterprises, the new third board of Suzhou bearing Factory, a subsidiary, is listed.
The clean and environmental protection plate has completed the preliminary integration of the resources of the "clean and environmental protection" plate, trying to extend the industrial chain and expand the market, so as to lay a good foundation for future development and increment; the porcelain insulator plate has completed the adjustment and optimization of the production layout. through the reconstruction and expansion of the suspension porcelain insulator production line, the development, pilot test and production of high-end suspension products, positive changes have taken place in product structure. Precision bearing plate strengthened performance management, and completed the company's shareholding system reform, becoming one of the first companies listed in the "new third board"; abrasive plate in the internal mechanism straightening out, basic management and product structure adjustment has done a lot of work, the enterprise basically reversed the loss situation.
The R & D expenditure remains high, and the transformation of scientific research achievements is gratifying.
Clean plate, developed a series of PM2.5 environmental testing instruments, built a special clean workshop, improved the production line and process equipment, reached the capacity of mass production, and achieved batch sales in the first year of product development. The new environmentally friendly material "High efficiency Composite denitrification Filler and Hollow Fiber membrane" has entered the market and achieved sales of more than 10 million yuan. The project of "industrialization of DC disk suspension porcelain insulators" of porcelain insulator plate, through the Haminan-Zhengzhou ±800 kV UHVDC transmission project and the Xiluodu-Zhejiang Jinhua ±800 kV UHVDC transmission line project invited by the State Grid, the sales revenue of DC disc suspension ceramic insulators has reached more than 100 million yuan.
Sujing Group started share reform and contributed more to Chuangyuan's performance in the future.
Although the company controls 91.93% of the environmental protection business Sujing Group, Sujing has no business of its own. All sales come from nine subsidiaries of Sujing Group, except for three subsidiaries. Most of the subsidiaries of Sujing Group hold less than 50%. As a result, it is difficult to better reflect the actual contribution of the clean environmental protection industry with excellent performance to Chuangyuan Technology. The business integration within Sujing Group and the restructuring of the company's shares will remove the main obstacles to the company's development and enable the company to develop faster. Nine subsidiaries of Sujing Group will play a synergistic effect and make Sujing Group participate in the market competition as an organic whole.
Profit forecast
In 2014, the company is expected to achieve 2.515 billion yuan in income and 76.66 million yuan in net profit, EPS0.19