The company we look at today belongs to the leading subdivision of cockpit interiors in the field of auto parts. Products have not only made more orders among traditional automotive customers. And in the field of new energy vehicles, it has entered the supplier system of Tesla, Weilai, Ideal, Xiaopeng and other new car-making forces.
And the company's current price-to-earnings ratio is just in its early 15s.
The company's stock price has also been sideways for two years. A structure of large oscillations that lasted more than two years has taken shape.
Let's take a look at the company's industry position and competitive advantage,
Come and ask this company to introduce yourself to everyone,
"Good afternoon, officers!"
Don't underestimate the auto parts, after all, 360 lines, lines out of the yuan.
I am also in the leading position in the field of auto parts segmentation tracks.
And I mainly serve high-end brands and new energy brands as the core,
And now the automobile is developing in the direction of new energy and intelligence, and the technical requirements are still very high.
Speaking of technology, then technological innovation has always been my core competitiveness.
Relying on the Group R&D Center of Tianjin National Standard and the R&D Center of Changshu and Wuhu and the German WAY Group, I strive to further improve product quality and performance to meet the development trend of environmental protection, lightweight, intelligence and safety.
In the field of traditional automobiles, since 20 years, the company has obtained more new orders from original customers such as FAW-Volkswagen, Beijing Benz, BMW Brilliance, Chery Jaguar Land Rover, Geely Automobile Lynk & Co, etc., and the supporting volume and supporting share have continued to grow.
In terms of new energy customers, the company has entered the Business of Volkswagen MEB, Mercedes-Benz EQB, BMW Electric Edition, Tesla, Weilai, Ideal, Xiaopeng, ARCFO main and deputy dashboards, columns, coat racks, mold gauges and so on.
FAW Fusheng, a shareholding company, acquired the new energy seat business, and the value of bicycle support continued to increase;
In 20 years, my new energy sales accounted for 10.6% of total sales, an increase of 12 times compared with 0.8% in 2019!
After listening to the company's self-introduction, we roughly understand that this company now belongs to the field of auto parts, and the subdivision track in the automotive interior is a sheep. Not only does it occupy an important position in the traditional automotive field, but the business in the field of new energy vehicles is gradually growing, but what is the company's current quality?
First look at the growth aspect,
The company's revenue has continued to grow since 2016.
Over the past five years, the company's average annual revenue growth rate has been 17.88%.
And from the perspective of main profits,
The company's main profit also showed a significant increase.
In the past five years, the company's average annual net profit growth rate is 13.17%.
The company's revenue growth rate and profit growth rate are similar, and the average growth rate in the last five years is more than 10%.
Next, let's look at the company's profitability,
Here, we look at the company's return on net assets, that is, for every 100 yuan of net assets, how much income the company can create.
The best performance was in 2016, when a net profit of $17 was generated for every $100 net worth.
Other years fluctuate slightly.
But it can be seen that the company's return on net assets has been above 10% over the past five years. This yield has far outpaced regularity and inflation.
So is the company's high yield made through high leverage or high debt? Next, let's take a look at the company's current financial situation,
The company's debt ratio rose from 33.5% in 2016 to 44% in 2021. Slightly up. However, it is still below 50%.
And from the perspective of liquidity,
In the latest Q3 2021, for every $1 in current liabilities, the company had $0.88 in current assets.
Relatively speaking, the company's current liquidity is still slightly lower, because current assets are not enough to cover 100% of current liabilities.
Finally, let's take a look at the company's cash flow, after all, sustained and stable cash flow is the cornerstone of the company's development.
It can be seen that the company's operating cash flow since 2016 has continued to be positive, and there is a significant improvement in the overall situation.
In the face of traditional, new energy vehicle giants such as Volkswagen, BMW, and Tesla, the company can still maintain a good ability to collect money. The company's operating cash flow also grew synchronously with the company's revenue and profit, showing a benign development.