UHV refers to the voltage level of AC 1000 kV and above and DC plus or minus 800 kV and above.
Since the beginning of this year, with the development of industrial equipment renewal, the UHV sector has become a unique existence in the weak new energy sector.
So, at present, who of the four giants of A-share UHV has a higher gold content?
Today, let's take a look at the advantages and highlights of these four companies in the field of UHV, as well as the gold content.
China Xidian,
The company has achieved many major technological breakthroughs in the major complete sets of equipment technology for power transmission and distribution represented by UHV, which is at the world's advanced level.
The company has successively provided complete sets of power transmission and distribution equipment and services for the country's first 330kV-1100kV ultra-high voltage AC and DC transmission project, as well as national key projects such as "Three Gorges Project", "West-to-East Power Transmission" and "UHV Demonstration Project".
Among the company's main products, the highest revenue is switches and transformers, accounting for more than 73% of revenue, with a gross profit margin of 25% for switches and 8% for transformers.
Pinggao Electrical,
The performance of the company's main products has reached the international leading level, the product quality is leading in the same industry in China, and the 550 kV SF6 circuit breaker has won the only quality gold medal in the field of ultra-high voltage switchgear in mainland China.
The 1000 kV Jindongnan-Nanyang-Jingmen UHV AC test demonstration project participated by the company was awarded the "100 Classic and Boutique Projects for the 60th Anniversary of the Founding of New China".
Among the company's main products, the high-voltage and distribution network segment accounted for the highest proportion of revenue, accounting for 71% in total, of which the gross profit margin of the high-voltage sector was 22.9%, and the gross profit margin of the distribution network segment was 16.74%.
XU Ji Electric,
The company's core business products cover all aspects of the power system, with overall solution capabilities such as ultra-high voltage/ultra-high voltage direct current transmission and flexible direct current transmission, core equipment manufacturing capabilities and engineering service capabilities.
The company has successively provided important technical support and equipment support for large-scale engineering projects such as UHV smart grid construction, Yangtze River Three Gorges Project and nuclear power construction, high-speed railway construction, electric vehicle promotion and application, and smart city construction.
In terms of main products, the company's intelligent substation and distribution, new energy system integration, smart meters and intelligent medium voltage power supply equipment accounted for the highest proportion of revenue, totaling more than 88%, with the highest gross profit margin of 25% for the smart meter business, followed by the intelligent substation and distribution electrical system, with a gross profit margin of 22%.
Sieyuan Electric,
At present, the company is one of the few manufacturers in the power transmission and distribution equipment industry with the ability to develop, manufacture and solve products such as primary equipment, secondary equipment, and power electronic equipment for power systems.
The company has participated in the formulation of a number of national standards and industry standards, has a number of industry-leading core technologies, and actively carries out the research and development of independent and controllable localized equipment, and is currently in a leading position in the industry.
Among the company's main products, the relatively high revenue is switch and coil products, accounting for more than 66% of the revenue. Among them, the gross profit margin of switches reached 33%, and the gross profit margin in coils reached 29%.
Compared with China Xidian, which is also a switch-based product, the gross profit margin is significantly higher.
After reading the company's advantages and highlights, let's look at the comparison of the gold content of the company's financial report key data.
First of all, look at the company's profitability, net profit margin on sales,
Among them, the net profit margin of China XD in the first quarter was 5.41%; Pinggao Electric's net profit margin was 12.64%; Xu Ji Electric's net profit margin was 9.38%; Sieyuan Electric's net profit margin was 13.6%.
The net profit margin is arranged from large to small, Siyuan > Pinggao> Xu Ji > Xidian.
Looking at the efficiency of asset operation,
In the first quarter, the total asset turnover ratio of China XD was 0.11, that of Pinggao Electric was 0.1, that of Xu Ji Electric was 0.13, and that of Sieyuan Electric was 0.14.
The operational efficiency is from high to low, Siyuan > Xu Ji > Xidian > are high.
Finally, financial leverage,
In the first quarter, the asset-liability ratio of China XD was 43.51%; Pinggao Electric 47.3%; Xu Ji Electric 46.5%; Sieyuan Electric 40.18%.
The financial leverage is arranged from high to low, and the flat > Xu Ji> Xidian > Siyuan, but on the whole, the gap between the first three is not large, and the financial leverage of Siyuan is significantly lower.
On the whole,
Net profit margin, Siyuan > Pinggao> Xu Ji > Xidian.
Operational efficiency, Siyuan> Xu Ji> Xidian > Pinggao.
Financial leverage, Pinggao > Xu Ji> Xidian > Siyuan.
Sieyuan Electric has created the highest net profit margin and asset turnover rate with the lowest financial leverage, and the financial report has the highest gold content.
Secondly, Pinggao Electric and Xu Ji Electric are equally divided, with a slightly stronger net profit margin, and Xu Ji has the first turnover rate. Finally, Pinggao uses higher financial leverage to help the yield slightly higher.
Excluding financial leverage, the gap between the two is smaller.
Finally, China XD ranked fourth in net profit margin and third in turnover rate, both of which were not dominant. The financial report has the lowest gold content.
Which company in the UHV sector are more optimistic, welcome to leave a message below to discuss!