Editor's note: The "Several Opinions of the State Council on Strengthening Supervision and Preventing Risks and Promoting the High-quality Development of the Capital Market" pointed out that the supervision of cash dividends of listed companies should be strengthened. For companies that have not paid dividends for many years or have a low proportion of dividends, major shareholders are restricted from reducing their holdings and risk warnings are implemented.
According to the public information of Bread Finance, from 2021 to 2023, Guoguang Electric will achieve a cumulative net profit of about 580 million yuan, and the dividend amount will be 0 yuan.
As of the end of 2023, the amount of undistributed profits reported by the parent company of Guoguang Electric reached 719 million yuan.
Since its listing, Guoguang Electric has completed multiple rounds of equity financing, raising a total of more than 2.5 billion yuan. In comparison, the cumulative dividend amount since the company's listing is less than 500 million yuan.
Should Guoguang Electric, which is "heavy on financing and light on dividends", increase dividends?
Guoguang Electric: Undistributed profit exceeded 700 million, with zero dividends for 3 consecutive years
Guoguang Electric recently announced that the profit distribution plan for 2023 is: no cash dividends, no bonus shares, no capital reserve to increase share capital, and profits for shareholders to be carried forward to the next year.
According to the public information of Bread Finance, from 2021 to 2023, Guoguang Electric will achieve a cumulative net profit of about 580 million yuan. During the period, Guoguang Electric did not pay cash dividends, and there were zero dividends for 3 years.
As of the end of 2023, the amount of undistributed profits reported by the parent company of Guoguang Electric reached 719 million yuan.
Since its listing, equity financing has exceeded 2.5 billion
Guoguang Electric was listed on the A-share market in 2005. According to incomplete statistics, since its listing, the total amount of equity financing of Guoguang Electric has exceeded 2.5 billion yuan, including 324 million yuan in the initial offering and 3 private placement financings.
In the recently completed private placement financing, Guoguang Electric raised about 1.384 billion yuan at an issue price of 13.88 yuan per share. The funds raised will be used for new audio intelligent manufacturing upgrade projects, car audio projects, VR machines and acoustic module projects.
The performance of the first quarter of 2024 is expected to increase
Guoguang Electric's main business is mainly audio electroacoustic business and lithium battery business. The main products of the company's audio electroacoustic business include speakers, Bluetooth speakers, smart speakers, car audio, professional audio, VR/AR products, computer peripheral audio, Wi-Fi speakers, soundbar products, headphones, etc. In the lithium battery business, its main products are used in wireless headphones, smart audio, wearable devices, electronic cigarettes, drones and other products.
In 2023, Guoguang Electric will achieve revenue of 5.933 billion yuan, a year-on-year decrease of 1.01%, a net profit attributable to the parent company of 361 million yuan, a year-on-year increase of 102.28%, and a net profit attributable to the parent company of 163 million yuan, a year-on-year increase of 9.67%.
According to the performance forecast for the first quarter of 2024 recently disclosed by Guoguang Electric, the company expects to achieve a year-on-year increase of 10.15% - 20.00% in operating income in the first quarter of 2024, and a net profit attributable to the parent company of 26 million yuan to 29.8 million yuan, a year-on-year increase of 263.60% - 316.74%.
Guoguang Electric said: "During the reporting period, the company's year-on-year sales volume increased, and the proportion of high gross profit products increased, which increased the company's gross profit margin. At the same time, the company continued to implement various measures to reduce costs and increase efficiency, which improved the company's overall profitability. ”
With good performance and a large amount of undistributed profits on the books, should Guoguang Electric respond to the policy call and actively distribute dividends to repay the support of investors?
(Article Serial Number: 1780889548335747072)
Disclaimer: This article does not constitute any investment advice to anyone. Intellectual Property Rights Statement: The intellectual property rights of Bread Finance works are owned by Shanghai Miaotan Network Technology Co., Ltd.