Summary of content:
The company's traditional main business is under pressure, and the transformation is timely. In the first half of 2017, the downstream demand of the spandex industry continued to be weak. The company's spandex business reached 260 million yuan in operating income in the first half of 2017, down 2.34% from the same period last year. The company optimized its product structure by building a high-end brand, and its gross profit margin rose to 9.51%. 2017H1's real estate business achieved operating income of 108 million yuan, down 11.97% from the same period last year, and its gross profit margin dropped to 43.25%. The company's real estate business will be transformed into science and technology real estate, such as science and technology industrial parks, science and technology engineering, technology research and development laboratories, and so on.
Injection of Harbin University of Technology Robot Group gene, long-term profit from the brand value. Wuxi Zhifang and Wuxi Lianchuang have a 29.9% stake in the transferred company of 3.24 billion yuan. Mr. Qiao Hui, the controller of Wuxi Zhifang, and Eddie Nutu, the controller of Wuxi Lianchuang, have become the common actual controllers of the company. the above two have a deep relationship with the robot group of Harbin University of Technology (HRG). In February 2017, the company signed a strategic cooperation agreement with HRG. Harbin University of Technology has more than 300 core technologies and invention patents in the robot field, and has the state key laboratory of Robot Technology and Systems. The company's strategic cooperation with HRG will receive top technical support, and renaming it as "Harbin Engineering Intelligence" will benefit from brand value for a long time.
Tianjin Fuzhen has a competitive advantage in the field of body-in-white welding production line. The acquisition of 100% equity interest in Tianjin Fuzhen with 900 million yuan in cash was completed in May 2017. Tianjin Fuzhen promised 2016-2019 deduction of non-net profit of not less than 4323, 6051, 7134 and 81.78 million yuan. The driving factors for performance growth include: first, there is a huge market for new models in the automobile flexible welding line. The company has nearly 20 welding lines in operation, most of which are mixed lines of four to six models. At present, there are only one or two models, and there is a high probability of choosing Fuzhen to undertake the project. Second, Fuzhen is the first professional company in China to master aluminum body connection technology, lightweight is one of the main means for new energy vehicles to improve mileage, and the use of all-aluminum body is the mainstream scheme at the current stage. the company is expected to fully benefit from the rapid expansion of the new energy automobile industry by virtue of its technical advantages in the field of aluminum body welding. Third, Belt and Road Initiative helped the company's project to go out to sea. In the past two years, the output value of Fuzhen's overseas projects in Iran, Egypt, Russia, India and other places has reached about 70 million. Fuzhen's domestic mass production model welding line is expected to be copied to the same type of overseas production line of automobile companies.
The company formulates a five-year development plan and focuses on the three main businesses. In the aspect of high-end equipment manufacturing, the vertical extension of the industrial chain will be completed on the basis of consolidating the competitive advantage of Tianjin Fuzhen, relying on the technological advantages of Harbin University of Technology in the field of robotics, and the way of internal growth and extension development at the same time. Actively extend to the application scene outside the automobile industry. In terms of robot platform, all kinds of resources will be integrated to provide one-stop system integration services. In terms of artificial intelligence robots, the company will continue to increase investment in research and development, focusing on strengthening the application of machine vision and collaborative robots in industrial production.
Risk hint. The risk of M & An and business integration; the risk of intensified market competition in the robot industry; the systemic risk of the secondary market at home and abroad.
