Per reporter: Zhao Li Nan Per editor: Liang Xiao
According to Wind statistics, in the past two months (August 12 to October 11), the stock price of Clayt (831689, NQ) has risen by 142.62%.
The "Daily Economic News" reporter noted that Clayt previously issued an announcement on the application for listing counseling on the selected layer for filing. Up to now, Clayt has not submitted the "Prospectus for the Public Offering of Shares to Unspecified Qualified Investors (Draft Declaration)" of the Select Layer, but the company's stock price has doubled, which also explains the release of the dividends of the Select Layer system and the market's expectations for the Select Layer to a certain extent.
On June 16 this year, Clayt submitted to the Shandong Regulatory Bureau of the China Securities Regulatory Commission the counseling and registration materials for the public offering of shares to unspecified qualified investors and listing on the select layer, opening the road to listing on the select layer.
Listed on the New Third Board in 2015, Clayt was rarely traded on the secondary market before, but since mid-August this year, Clayt's stock price has soared, from 6 yuan per share to 14.8 yuan per share at the close of October 11.
At the same time, in the first half of this year, Kletter's operating performance also achieved strong growth. According to Kleit's 2021 semi-annual report, in the first half of this year, Klater achieved operating income of about 198 million yuan, an increase of 53.10% year-on-year; and achieved a net profit attributable to the shareholders of the listed company of about 0.2 billion yuan, an increase of 142.91% year-on-year.
Image source: Screenshot of Kleit's 2021 semi-annual report
Claret's main business is mainly engaged in rail transit fans, cooling towers and air cooler fans, refrigeration fans, marine engineering and high-tech ship fans (offshore drilling platforms, container ships, LNG ships, luxury cruise ships), energy ventilation and cooling equipment (gas turbines, nuclear power, wind power, distributed energy) and special industrial fans and other high-end equipment industry ventilation system research and development, production, sales and related products maintenance and service.
In response to the growth of operating income in the first half of this year, Klett explained that it was "mainly due to the significant increase in revenue in the wind power industry" and "the increase in orders for energy ventilation and cooling equipment". Industry data also corroborates Kleit's claims. Since the beginning of this year, the prosperity of the wind power industry has shown an explosive rise. Wind data shows that from January to August this year, the capacity of new wind power equipment in China increased by 45.72% year-on-year.
Image source: Wind screenshot
According to the research report data released by Anxin Securities on October 10, 2021, the domestic wind turbine price has entered a rapid downward channel since the beginning of 2021: the average bidding price of wind power in the first quarter of 2020 is about 3507 yuan / kW, while the average bidding price in the first quarter of 2021 fell to 2860 yuan / kW, down 18% year-on-year; by 2021, the mainstream quotation range of wind turbines is roughly 2200 yuan / kW ~ 2400 yuan / kW. Under the background of a sharp decline in construction costs and an increase in the yield of projects in the era of parity, the domestic wind power bidding volume exceeded 30gW in the first half of the year, the highest in the past 5 years.
It is worth noting that Clett's customer concentration is high. According to the data of the 2021 semi-annual report, in the first half of this year, the company's total sales revenue to the top five customers accounted for 55.64% of the current operating income, of which the first largest customer and the second largest customer accounted for 27.51% and 15.84% respectively, accounting for a relatively high proportion.
In addition, Clayt also mentioned the risk of dependence on major customers: "The company's top two customers are well-known leading enterprises in the field of wind power equipment and rail transit, which is in line with the development strategy and industry characteristics of the company's leading enterprises in various sub-sectors. The company has established a good cooperative relationship with such major customers, but if the company's main customers have adverse changes in their own business conditions or due to the emergence of new competitors and other factors, reducing the procurement of the company's products will adversely affect the company's production and operation. ”
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