According to the public data collation of Securities Star, Jinpan Technology (688676) recently released the first quarter report of 2024. According to the financial report, the net profit of Jinpan Technology's revenue increased year-on-year during the reporting period, and the accounts receivable increased. As of the end of the reporting period, the company's total operating income was 1.305 billion yuan, an increase of 0.6% year-on-year, and the net profit attributable to the parent company was 94.6396 million yuan, an increase of 8.57% year-on-year. According to the single-quarter data, the total operating income in the first quarter was 1.305 billion yuan, an increase of 0.6% year-on-year, and the net profit attributable to the parent company in the first quarter was 94.6396 million yuan, an increase of 8.57% year-on-year.
The performance of the data indicators announced in this financial report is still good. Among them, the gross profit margin was 25.39%, an increase of 11.9% year-on-year, the net profit margin was 7.16%, an increase of 6.51% year-on-year, sales expenses, management expenses and financial expenses totaled 155 million yuan, the three fees accounted for 11.91% of revenue, an increase of 21.28% year-on-year, net assets per share were 7.6 yuan, an increase of 15.59% year-on-year, operating cash flow per share was -0.77 yuan, a year-on-year decrease of 74.4%, and earnings per share were 0.22 yuan, an increase of 10.0% year-on-year. The specific financial indicators are shown in the following table:
The financial report analysis tool of Securities Star Price Investment Circle shows:
In terms of asset quality, the company's accounts receivable volume is large. It is recommended to check two information of the accounting project in the annual report or semi-annual report, one is the provision, for the amount that cannot be recovered with a high probability, the company will generally make bad debt provisions, and you can check the amount of the provision and the estimated scale of the provision. The other is the aging of accounts receivable, that is, how long the account has been owed, generally most of them are less than one year, if the accounts receivable for more than one year accounts for a relatively high proportion need to be paid attention to. Inventory is higher than profit, be careful of inventory accrual impact on profit. The company's inventory turnover days are slow, and it is observed whether it is due to the industry. The accounting treatment of inventory is an accounting item that will have a great impact on the company's current profit, and there is usually inventory in the company's annual report according to different types of determination methods, and it is necessary to search for inventory in the annual report to view specific data.
In terms of debt status, the company has debt repayment pressure, pay attention to whether the scale of short-term borrowings is reasonable, and pay attention to the scale of long-term borrowings that are about to mature. Pay attention to the composition of the company's accounts payable during the reporting period. The company's long-term liabilities are larger than the cash flow, and it is necessary to observe whether the long-term liabilities and cash flow match.
In terms of revenue analysis, the company's latest annual statement has positive cash flow, and the operating cash flow is relatively small compared to profit, so it is recommended to confirm the company's profit composition and cash receipt and payment quality.
In terms of operating expenses, the company's capital expenditure is relatively large compared with operating costs, and it is recommended to focus on whether the capital expenditure items are reasonable and the liquidity of capital profits. The company's capital expenditure in the past three years is not low, risks and opportunities coexist, and it is necessary to study the feasibility and progress of the investment project. The financial costs used in the operation of the company are average. There are many costs spent on R&D in the company's operation.
Judging from the company's financial statements in the past year, in terms of profitability, the main business has an average position in the industrial chain, an average profit margin, and a large investment in marketing competition.
Further analysis of the company's historical financial statements over the past decade shows that profitability is average in the long run. The business volume and profit have grown rapidly in the past five years. Its latest earnings forecast suggests a slowdown in profit growth.
The financial report check-up tool shows:
- It is recommended to pay attention to the company's cash flow situation (monetary funds/total assets are only 6.47%, monetary funds/current liabilities are only 28.85%, and the average operating cash flow/current liabilities in the past three years are only 6.28%)
- It is recommended to pay attention to the company's debt situation (the interest-bearing asset-liability ratio has reached 23.19%, and the total interest-bearing debt/average operating cash flow in the past three years has reached 16.47%)
- It is recommended to pay attention to the company's accounts receivable status (accounts receivable/profit has reached 607.36%)
According to analyst tools, securities researchers generally expect 2024 results of 785 million yuan and average earnings per share of 1.84 yuan.
The top 10 funds with heavy positions in Jinpan Technology are shown in the table below:
The fund that holds the most Jinpan Technology is Manulife Transformation Opportunity Stock A, with a current scale of 3.423 billion yuan and the latest net value of 2.082 (April 23), an increase of 0.29% from the previous trading day and a decrease of 19.86% in the past year. The current fund manager of the fund is Wang Peng.
Recently, a well-known organization has paid attention to the following issues of the company:
Q: How is the company's data assets listed, and what are the future plans?
A: On April 11, 2024, the company's data assets were officially listed on the Fujian Big Data Exchange, marking that Kinpan Technology has officially entered the stage of transforming data elements into data assets. Since 2013, Kinpan Technology has successfully built several digital factories and unique green and low-carbon intelligent manufacturing industrial clusters in China, realized the digitization and low-carbon of new productivity, actively promoted intelligence, firmly promoted the industrialization of the "three modernizations", accumulated data resources, activated data elements, and transformed data into assets with economic value.
With the surging tide of the global industrial revolution, Kinpan Technology, as a pioneer in the industry, is about to take a new step after successfully completing the construction of the digital factory - starting the training of artificial intelligence large models to explore the upgrade of the digital factory to intelligence. Through the construction of the digital factory, Kinpan Technology has realized the transparency, automation and informatization of the production process, and greatly improved the production efficiency and product quality. In order to further tap the production potential, the company plans to use artificial intelligence models to deeply analyze production data, optimize processes, predict and solve problems, build an artificial intelligence model of Kinpan Technology, and promote a new leap in management and production efficiency. In this process, the full use of data resources is particularly important, and the company will continue to improve the data collection and processing system to ensure that the data is accurate and complete. Through in-depth analysis of data, the company can gain more accurate insight into market demand, predict market trends, and provide strong support for scientific decision-making. We will continue to explore and practice to improve production efficiency and enhance market competitiveness with data-driven efforts.
The above content is compiled by Securities Star based on public information, generated by an algorithm (Network Information Calculation No. 310104345710301240019), and has nothing to do with the position of this site, if there is a problem with the data, please contact us. This article is a compilation of data and does not constitute any investment advice for you, investment is risky, please make a cautious decision.