In the first half of the year, the company achieved operating income of 282 million yuan, down 15.99% from the same period last year; profit of 39.2525 million yuan, an increase of 6.01% over the same period last year; net profit belonging to shareholders of listed companies was 30.9027 million yuan, up 2.03% from the same period last year; and earnings per share was 0.10 yuan.
The decline in revenue is due to a number of centralized intelligent transportation system integration projects that failed to recognize revenue in the first half of the year due to the duration of the project. The new shipping information and technical services business has a higher gross profit margin, contributing to a small increase in net profit.
The company has made business progress in many aspects. Taking advantage of the favorable opportunity of ETC networking of expressways across the country during the year, we strengthened business development in North China and Northwest China, increased investment in urban intelligent transportation business, tried to develop PPP mode business, accelerated the development of intelligent transportation operation and maintenance business in Shanghai and Guizhou, and started a number of information construction projects after integrating China Shipping Information.
Haitong lost 6 million yuan in the first half of the year, and the operation effect of its maritime integrated service platform in cooperation with BABA is not satisfactory. it will enrich and optimize the products and services of the platform and increase the conversion rate in the future.
In the first half of the year, the company won the bid for a major project from Liangping to Qianjiang Expressway in Chongqing-- the mechanical, electrical and traffic safety project from Liangping to Zhongxian on the Chongqing Liangping-Qianjiang Expressway, with a total bid amount of 250.7 million yuan. As the lead party of the project consortium, the company will undertake about 50% of the total amount of the winning bid, which will be beneficial to future performance.
It is estimated that the company's net profit in 2015 and 2016 will increase by 13% and 15% respectively, with earnings per share of 0.19 yuan and 0.22 yuan respectively.
The company takes intelligent transportation business as the cornerstone of development, speed up the development of shipping informatization, the development of shipping e-commerce and other businesses, the performance has increased steadily, maintaining the increased investment rating.
Risk tips: the company's shipping information and shipping e-commerce business progress is lower than expected and so on.
