今日晚间，平高电气发布业绩预告，公司预计 2024 年前三季度实现归属于母公司所有者的净利润为8.5亿-8.7亿元，与上年同比增长53.87%-57.49%；预计扣非净利润约8.41亿-8.61亿元，同比增长53.63%-57.28%。2023年，公司实现净利润8.16亿元，公司预计的今年前三季度净利润超过了去年全年。1. Henan Pinggao Electric is expected to achieve net income in the first three quarters of 2024 exceeding the full year of last year, with a year-on-year growth of over 50%; 2. As of the end of September this year, the company's backlog orders exceed 16 billion yuan.
On October 14, Caixin reported (Reporter Liang Xiangcai) that benefiting from the increased investment by the State Grid Corporation of China and the gradual realization of the backlog orders, Henan Pinggao Electric (600312.SH) is expected to achieve a year-on-year net income growth of over 50% in the first three quarters of 2024, surpassing the full year of last year.
"As of the end of September, the company's backlog orders exceed 16 billion yuan, with an overall capacity utilization rate of around 85%, fully meeting the current order demand," said a company spokesperson to Caixin reporters.
Tonight, Henan Pinggao Electric released its performance forecast, with expected net profit attributable to owners of the parent company for the first three quarters of 2024 to be 0.85 billion-0.87 billion yuan, a year-on-year growth of 53.87%-57.49%; expected non-net profit of about 0.841 billion-0.861 billion yuan, a year-on-year growth of 53.63%-57.28%. In 2023, the company achieved a net profit of 0.816 billion yuan, and the company expects the net profit for the first three quarters of this year to exceed the full year of last year.
Regarding the reasons for the performance growth, Henan Pinggao Electric stated in the announcement that in the first three quarters of this year, grid investments steadily increased, grid construction continued to advance, key projects of the company were gradually fulfilled and delivered, resulting in a year-on-year growth in revenue. Lean management continued to deepen, with significant quality and efficiency improvements. At the same time, the company's revenue structure changed, with an increase in high value-added product deliveries.
Company representatives stated, "Continuous deepening of lean management" specifically refers to the company's in-depth promotion of the "workstation system, rhythmic continuous flow production mode," establishing 6 lean demonstration production lines, resulting in a 35% increase in production efficiency, and a 47% increase in production capacity. "High value-added products" mainly refer to high-voltage sector products.
Caixin reporters found that Henan Pinggao Electric has been awarded 5 contracts this year, with a total contract value of approximately 4.856 billion yuan by the end of September 2024, accounting for about 43.84% of last year's total revenue.
It is reported that Henan Pinggao Electric is one of the three largest high-voltage switchgear manufacturers in China. As of the first half of 2024, the profit contribution of Henan Pinggao Electric's three main business sectors—high-voltage sector, distribution network sector, operation and maintenance, and others—accounts for 70.57%, 18.61%, and 11.38% of the company's total profit, respectively.
Officials from Henan Pinggao Electric told Caijing that the company is deeply cultivating the high-voltage switch industry, with an overall GIS product market share of 20%-30%. Among them, the market share of AC ultra high pressure million-volt products exceeds 40%, and the market share of DC ultra high pressure 750kV and 550kV GIS companies also maintains a leading position. For subsequent bidding projects, the company will strive for orders with the best bidding strategy, but the final bidding situation is subject to actual announcement.
