①The decline in revenue year-on-year, the stock price of the investment target dropped, and the assets shrank, causing the star stock luoyang xinqianglian to report a worsened loss in the mid-year report compared to the first quarter; ②In response, the company stated that it will further increase new product technology research and development innovation, and deepen its market expansion and optimization of the supply chain management.
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On August 29th, Caixin reported that Luoyang Xinqianglian (300850.SZ), a former star stock in the wind power industry, reported a "disappointing" performance in its interim report, with a decline in revenue, a drop in the stock price of its investment target, and a decrease in assets. The loss in the second quarter was worse than in the first quarter.
Today, Xinqianglian released its 2024 interim report, showing that the company achieved revenue of 1.057 billion yuan, a decrease of 12.94% year-on-year. The net loss attributable to shareholders of the listed company was 0.101 billion yuan, with a year-on-year loss.
The main reason for the loss is the decrease in investment income. According to the financial report, the company holds stocks of Wuxi Paike New Materials Technology (605123.SH), Jindi Shares (603270.SH), and Sany Heavy Energy (688349.SH). The fair value change in the first half of this year resulted in a loss of approximately -0.145 billion yuan.
In addition, the company's gross margin in the first half of this year has declined. The financial report shows that the gross margin of wind power products in the first half of this year was only 12.27%, a decrease of 12.84 percentage points compared to the same period last year.
The company stated that due to the intensifying competition in the wind power industry and the pressure on downstream wind turbine manufacturers to reduce costs, the wind power industry is facing temporary operational pressure. Factors such as low bid prices for wind power equipment and components, and delayed delivery of new projects have led to a decline in the company's operating performance.
To cope with these challenges, the company plans to further increase research and development in new product technology, such as developing larger power wind turbine bearings and gearbox bearings, and intensifying efforts in market development and optimizing supply chain management.