Net profit and gross profit margin have reached a record high! The performance of a number of extremely "golden" stocks is expected to continue to grow at a high rate

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The 2023 annual report has entered an intensive disclosure period. According to the statistics of Securities Times and Databao, as of now, more than 1,200 stocks have disclosed their 2023 annual reports.

The net profit and gross profit margin of 18 shares reached a record high

According to the statistics of Databao, among the A-share companies that have disclosed their annual reports and have a net profit of more than 100 million yuan, 185 shares will have a record high net profit since listing in 2023 (excluding stocks listed since 2023 and stocks on the Beijing Stock Exchange), of which 18 shares will also have a record high gross profit margin in 2023.

From the perspective of industry distribution, 18 shares are scattered in 15 Shenwan secondary industries, of which 2 shares are shortlisted in the 3 industries of small household appliances, semiconductors and medical devices, accounting for more than 30% of the total number.

In terms of the small household appliance industry, the net profit of Roborock and Feike Electric Appliances in 2023 will be 2.051 billion yuan and 1.02 billion yuan respectively, and the gross profit margin will be 55.13% and 57.1% respectively, both hitting record highs.

Among them, Roborock is a leading enterprise in the field of intelligent cleaning robots. GFK data shows that from 2012 to 2022, the compound growth rate of sales of clean appliances in mainland China reached 28%, and the market size rose from 2.9 billion yuan to 34.8 billion yuan. In 2022, the average number of vacuum cleaners per 100 households will only be 23.5, of which 5.1 will be the main category of sweeping robots and only 1.5 floor scrubbers, all of which are in their infancy. GFK predicts that by 2030, the market size of clean electrical appliances will reach 60 billion yuan and about 40 million units. Floor scrubbers and robot vacuums, as typical representatives of deep cleaning and automatic cleaning, respectively, are and will be typical categories.

In terms of the semiconductor industry, the net profit of the two shares of China Micro Corporation and Shengmei Shanghai in 2023 will be 1.786 billion yuan and 911 million yuan respectively, and the gross profit margin will be 45.83% and 51.99% respectively, both hitting record highs.

Among them, AMEC focuses on key semiconductor equipment, and its products cover integrated circuits, advanced packaging, MEMS, LED and other fields. Benefiting from the company's complete single and double etching equipment layout, continuous breakthroughs in core technologies, rapid iteration of product upgrades, and rich etching application coverage, the company's CCP and ICP etching equipment will have a significant increase in the market share of chip production lines of major domestic customers in 2023. According to SEMI statistics, global semiconductor manufacturing equipment sales are expected to reach $100 billion by the end of 2023, down 6.1% from $107.4 billion in 2022, SEMI believes that the weak demand situation will not last too long, and semiconductor equipment investment will rebound from 2024, predicting that global semiconductor equipment sales will reach $124 billion in 2025.

In terms of the medical device industry, the net profit of Huitai Medical and Pumen Technology in 2023 will be 534 million yuan and 329 million yuan respectively, and the gross profit margin will be 71.27% and 65.81% respectively, both hitting record highs.

Among them, Huitai Medical is a high-tech enterprise of electrophysiology and interventional medical devices. According to the report "Development Status and Trends of China's Medical Device Industry (2022)" released by Roland Berger, an international management consulting company, the scale of the mainland medical device market is expected to reach 958.2 billion yuan in 2022, with a compound growth rate of about 17.5% in the past 7 years, and has jumped to become the world's second largest market except for the United States.

In terms of market capitalization, Haier Smart Home ranks first in terms of total market capitalization. In 2023, the company achieved a net profit attributable to the parent company of 16.597 billion yuan, an increase of 12.8% over 2022, and a gross profit margin of 31.5%, an increase of 0.2 percentage points over the same period in 2022, both reaching a record high. According to the company's annual report, in 2023, the price of bulk raw materials in the domestic market will drop significantly compared with 2022, and at the same time, the competition in the large white power industry tends to be rational, and product prices are relatively stable. The combination of these factors has led to an improvement in the profitability of the industry.

20 high "gold content" stocks are expected to continue to grow at a high rate

The record high net profit does not mean that the company must make money, and it needs to be compared with the "net operating cash flow" in the cash flow statement, and the "net operating cash flow divided by net profit" can be used to measure the gold content of the net profit.

Data treasure statistics show that among the 185 stocks with record net profits, after excluding individual stocks in the banking and non-bank financial industries, 105 shares have a ratio of net operating cash flow to net profit in 2023 greater than 1, of which BYD has the highest ratio, and the company's net operating cash flow in 2023 will reach 169.725 billion yuan, which is 5.65 times the net profit.

Data treasure further statistics found that among the 105 stocks with relatively high net profit gold content, 20 shares have been rated by more than 10 institutions, and it is expected that the net profit growth rate in 2024 and 2025 will exceed 20%. Among them, the latest stock prices of 8 shares, including Junda Shares, Nine Company-WD, and SF Holdings, have retraced more than 40% from the highest point since 2022.

Junda's latest share price has retraced 66.96% from the highest point since 2022, ranking first. The company focuses on the R&D and production of N-type TOPCon solar cells, with internationally leading product performance and strong market competitiveness. According to InfoLink, the market share of TOPCon batteries will reach about 70% in 2024. In the next few years, N-type battery products will accelerate the process of replacing P-type batteries, and in the new round of industry competition, enterprises that master the technical capabilities of N-type batteries and take the lead in completing the upgrading of N-type battery production capacity will gain a more favorable market competitive position. According to the data, 18 institutions have rated Junda shares, and it is expected that the net profit growth rate in 2024 and 2025 will be 86.62% and 24.54% respectively.

In 2023, the company will achieve a net profit attributable to the parent company of 598 million yuan, a year-on-year increase of 32.50%, and a non-net profit of 413 million yuan, a year-on-year increase of 8.54%, mainly due to the company's continuous deep operation, increased R&D investment, electric two-wheelers, service robots and all-terrain vehicle products continue to launch new products, and the product market share and sales scale continue to increase. According to the data, 15 institutions have rated Nine Company-WD, and it is expected that the net profit growth rate in 2024 and 2025 will be 30.68% and 38.68% respectively.

Disclaimer: All information content of Databao does not constitute investment advice, the stock market is risky, and investment needs to be cautious.

Editor-in-charge: Zhou Sha

Proofreader: Li Lingfeng

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Data treasure (shujubao2015): Securities Times intelligent original new media.