On the evening of January 8th, it was announced that a number of orders were signed with International A customers and their subsidiaries, with a total order amount of 229 million yuan (including tax), and the cumulative order amount exceeded 50% of the company's audited operating income in the most recent fiscal year.
5G boosts the growth of communication energy systems and opens the energy storage market for lithium iron phosphate energy storage products. The company mainly provides domestic and foreign telecom operators, main equipment providers and network integrators with related products, equipment and solutions of communication network infrastructure and corresponding technical services. With the continuous development of 5G network, the intelligent communication energy system based on lithium iron phosphate battery which adapts to 5G application scenario will usher in a broad market space. The company's lithium iron phosphate battery energy storage has the capacity of BMS\ Pack to achieve self-production, and the battery is put into production as planned this year, benefiting from the opening of the energy storage market. Based on the domestic market, gradually expand the international market, and form a formation in which the domestic and international markets go hand in hand. The marketing service network covers the whole country, and the international market focuses on North America, Europe, Southeast Asia, India and other markets.
Business breakthroughs, the company and international A customers and their subsidiaries have repeatedly signed large orders. From 2016 to 2017, the company won the bid for the outdoor cabinet project of Swedish Ericsson. Starting from the fourth quarter of 2019, the company signed large orders with international A customers and their subsidiaries to prove the company's product recognition and supply capability in international customers. Among them, 7.7508 million yuan was signed in the fourth quarter of 2019, and 10.4772 million yuan, 37.2475 million yuan, 82.3277 million yuan and 18233.78 million yuan were signed with A customers in 2020 Q1 ~ Q4 (as of October 2020), totaling about 320 million yuan. Q4 in 2020 (from October 2020) and 2021 Q1 and A customers signed contracts of 4398.27 million yuan and 18497.16 million yuan, totaling 230 million yuan.
With one heart and one mind, the actual controller subscribes to the company to increase, and the employee stock ownership plan to complete the purchase. The increased funds raised by the company are mainly invested in 5G communications efficient energy research and development and industrialization projects. The price of the shares issued is 10.12 yuan per share, which is issued to Chen Dengzhi, the actual controller, and shall not be transferred within 18 months from the end of the issue. In addition, the company completed the first phase of the employee stock ownership plan at the end of 2020, buying a total of 1641180 shares in the secondary market, accounting for 0.79% of the company's total share capital, with an average transaction price of 15.90 yuan per share. At present, the cost of employee stock ownership is upside down.
Profit forecast: the net profit in 2020-2022 is expected to be 0.05,1.22 and 197 million yuan respectively, and the EPS is 0.02,0.59,0.95 yuan per share respectively. Corresponding to the current stock price PE is 602.16, 22.73,14.03 times, covering for the first time, given a "buy rating", a six-month target price of 20.51 yuan.
Risk hint: systemic risk, order confirmation is not as expected.
