Due to the decline in the prosperity of the industry, the profitability has declined.
The operating income in 2015 was about 1.144 billion yuan, down 13.15 percent from the same period last year; the net profit attributable to shareholders of listed companies was about 19.07 million yuan, down 45.93 percent from the same period last year; the net profit belonging to shareholders of listed companies after deducting non-recurrent profits and losses was about 15.86 million yuan, down 57.74 percent from the same period last year; the net cash flow generated by operating activities was about-21.52 million yuan, a decrease of 127.02 percent over the same period last year. With the promotion of fund-raising projects and the development of new markets, it is expected that the future profit level will gradually pick up.
Industry concentration needs to be improved.
The company's product pricing mainly adopts the model of cost + processing fee. Due to insufficient demand, falling aluminum price and falling processing fee, although the company's output has increased, its operating income has declined. As the company is an aluminum processing industry, in the downstream of the aluminum industry, the industry concentration is not as good as the upstream, and the benefit of the downstream industry is generally not good, so the processing fee is required to be reduced, which leads to the weak bargaining power of the company. the decline in product prices is greater than the degree of cost decline, resulting in a slight decline in gross profit margin.
The profit prospect of fund-raising projects is good.
The company raised investment in the "production and construction project of energy-saving, environmental protection and high-performance aluminum alloy building formwork with an annual output of 400000 square meters", which is currently waiting for the written approval document of the CSRC. According to the company's plan, the construction period is expected to be 1 year, and the production will be fully reached after 3 years of commissioning. It is expected to achieve an average annual operating income of 520 million yuan, and an average annual net profit of about 90 million yuan after full production.
The company has reserved personnel, technology and market.
In order to implement the fund-raising project smoothly, the company has carried out all-round training for relevant managers, technicians and production personnel to ensure the construction of the project and the smooth production after it is put into production. At the same time, in order to achieve the expected profit level, the company has made relevant reserves in technology and market, established stable business relations with a large number of well-known enterprises at home and abroad, and laid a solid market foundation.
Risk hint: the prosperity of the industry is declining, and the fund-raising projects do not reach the expected profit level.
