Terry Machinery (603289.SH): Net profit in 2021 pre-increase 55.72%-78.79%

On January 20, 2020, Terry Machinery (603289.SH) announced the pre-increase announcement of 2021 annual results, and the company expects to achieve a net profit attributable to shareholders of listed companies in 2021 of 135 million yuan to 155 million yuan, an increase of 48.305 million yuan to 68.3050 million yuan compared with the same period of the previous year, an increase of 55.72% to 78.79% year-on-year. It is expected that the net profit attributable to the shareholders of the listed company after deducting non-recurring gains and losses in 2021 will be 115 million yuan to 133 million yuan, an increase of 40.5729 million yuan to 58.0729 million yuan compared with the same period of the previous year, an increase of 54.51% to 78.03% year-on-year.

The main reasons for the increase in the performance for the current period are:

1. In 2021, the company adheres to the globalization strategy and steady operation policy, the main products domestic and foreign sales orders maintain year-on-year growth, production scheduling is tight and orderly, and the company's operating income maintains year-on-year growth. The operating income for the reporting period is expected to be 105 million yuan to 1150 million yuan, an increase of 20.26% to 31.71% year-on-year; the company will continue to strengthen R&D investment and product technology innovation, and continuously adjust and upgrade its product structure. During the reporting period, the company's new NEO series of high-end injection molding machines were successfully released and introduced to the global market, and the high-end models such as all-electric injection molding machines and medium- and large-sized two-platen multi-material multi-material multi-color injection molding machines maintained a high growth trend, with the advantage of domestic substitution of similar high-end imported products in Japan and Europe.

2. In 2021, the company has formed a number of technical achievements and successful application solutions in the downstream new energy automobile industry, LED lighting, 3C electronic products and notebook computer supporting industries, medical testing products, plastic recycling industry and other application fields, accumulating rich customer resources and good customer reputation.

Especially in the field of new energy vehicle applications, the company's related products have been verified and applied by the market, forming an industrialization scale. Among them: the project of "R&D and Industrialization of Injection Molding Technology and Equipment for Optical Parts" won the first prize of Zhejiang Provincial Science and Technology Progress Award and the first prize of China Machinery Industry Science and Technology Progress Award, and the "Research and Development and Industrialization of Intelligent Injection Molding Equipment for Large-scale Complex Polymer Products" project cooperated with Zhejiang University won the first prize of China's industry-university-research cooperation innovation achievements.

3. In 2021, it is expected that the impact of non-recurring gains and losses on the company's net profit will be about 20 million yuan to 22.5 million yuan, an increase of about 7.7321 million yuan to 10.2321 million yuan compared with 12.2679 million yuan in the same period last year, mainly due to the investment income of foreign exchange forward settlement and sale products.

This article originated from Grand Gateway