Text/Capital Of the Day
Current liabilities of 3.827 billion were at the top.
In the capital market there is no most demon, only more demon.
On October 20, the stock price of Jiangsu iKang Technology Co., Ltd. (hereinafter referred to as iKang Technology) showed a volatile trend. As of the close of the day, its stock price was 5.55 yuan, up, with a total market value of 248.79 yuan. This is its 5 consecutive days of rise, and it has gained 3 up and down boards.
Please note that usually the performance exposure is that the stock price "sees the light and dies", especially the stock price under the sudden performance is falling fiercely, and iKang Technology is the opposite of "immortal bird".
On the evening of October 17, iKang Technology released the third quarter report of 2021, showing that 2.027 billion yuan, down 16.70% year-on-year; net profit loss of 120 million yuan, down 1105.97% year-on-year; deduction of non-net profit loss of 244 million yuan, down 69.70% year-on-year.
Among them, in the third quarter of 2021, its single-quarter main revenue was 760 million yuan, up 9.44% year-on-year; single-quarter net profit was -53.2854 million yuan, down 254.42% year-on-year; single-quarter non-net profit - 75.3064 million yuan, down 108.93% year-on-year
There are strangers. In the middle of this year's reporting period, iKang Technology has already suffered a loss of 66.7189 million yuan, and the deduction of non-net profit is a loss of up to 169 million yuan, down 1374.47% year-on-year. Under such poor performance, the stock price of Elken Technology miraculously soared from 2.12 yuan on August 10 to 5.98 yuan on September 14. In other words, the stock price rose 1.8 times in one month.
On the news side, on October 19, iKang Technology announced that it repurchased 3.8697 million shares of the company's shares for the first time through the repurchase of special securities accounts on the same day, accounting for 0.0863% of the company's current total share capital, the highest transaction price was 5.22 yuan / share, the lowest transaction price was 5.10 yuan / share, and the total transaction amount was about 19.9936 million yuan (excluding transaction fees).
On the disk, after 5 days of rise, iKang Technology's stock price is very close to the high point created on September 14. From the daily K line, the stock price is somewhat deviated from the 5-day moving average, and there is a demand for adjustment in the short term, and it is possible to go out of the M top. The weekly K line shows that its stock price adjusted below the 10-week line and then rose from the ground, and the two long yangs swallowed up the 4 weekly yin lines that fell, and the upward trend was very obvious; the monthly K line formed a trend of two yangs plus one yin. From the perspective of restoration, iKang Technology's stock price is close to its historical high, and if it can be broken, the upside will open.
According to public information, the predecessor of iKang Technology is Jiangyin iKang Solar Equipment Co., Ltd., which was established in March 2006. In September 2009, it was renamed as Jiangsu Aikang Solar Energy Technology Co., Ltd. On September 14, 2010, it was changed to Jiangsu iKang Solar Technology Co., Ltd.
iKang Technology is the world's solar cell aluminum frame leading enterprises, for many years occupy the first place in the global market share, the company's main solar cell aluminum frame, photovoltaic installation brackets, photovoltaic modules and photovoltaic power station operation and maintenance services, the cumulative operation of photovoltaic power plants 1.55GW, with 35 million sets of frame production capacity, 1.2GW module production capacity and 450MW cell production capacity, planning to build 18GW heterojunction cells, module manufacturing capacity within five years, is expected to reach 4GW by the end of 2021, It will become the world's largest manufacturer of heterojunction batteries (hereinafter referred to as HJT).
Market participants believe that iKang Technology has been rising since August.
Thanks to the influence of dual-control power rationing and accelerated clean and low-carbon transformation policies, the development of renewable energy such as photovoltaics has accelerated significantly, while HJT, an efficient battery technology for photovoltaic power generation, is sought after. It is reported that at present, iKang Technology has nearly 6GW of HJT equipment installation hardware conditions, and has signed a total of about 4.8GW of intended equipment purchase orders, and plans to enter the installation period at the end of this year or the first quarter of next year.
In addition to the 6GW of Changxing bases in Taizhou, Jiangsu and Huzhou, Zhejiang, which is planned to be completed by the end of 2022, iKang Technology also launched the second phase of the Changxing base project in Huzhou, Zhejiang. In the future, with the realization of cost reduction paths such as silicon wafer thinning, the advantages of HJT will become more and more obvious.
Judging from the financial reports of iKang Technology in the past five years, its performance is generally unsatisfactory. In 2016, iKangke's net profit was 141 million yuan, a year-on-year increase of 20.65%; after the decline in 2017, it was basically the same as that in 2018, with a huge loss of 1.612 billion yuan in 2019, and the performance in 2020 rebounded to 22.07 million yuan. Net profit after deduction of non-net profit in 2019 and 2020 was in a state of loss for two consecutive years. In the first three quarters of 2021, the net profit of iKang Technology is also in a state of gradual decline.
In addition to the net profit loss, iKang Technology's inventory also rose sharply. Its third quarterly report shows that iKang Technology's inventory was 250 million yuan, an increase of 48% year-on-year; an increase of 64 million yuan over the 2021 mid-year reporting period.
There is also a short-term debt that is not optimistic. In the third quarter of 2021, iKang Technology's monetary funds were only 854 million yuan, but short-term borrowings were as high as 1.978 billion yuan, and non-current liabilities due within one year were 226 million yuan. Current liabilities amounted to RMB3.827 billion. Obviously, monetary funds are far from being able to cover short-term liabilities, and the capital chain is tight.
At this point, look at the stock price and then look at the performance, I have to say that sometimes there is really no reason to talk about it in the capital market. But this kind of really needs the Great Immortal to pinch his finger, otherwise who can see it accurately?
[The article is for communication only, not investment advice, please pay attention to the investment risks.] Code words are not easy, if your mobile phone still has electricity, please help like, forward. Thank you very much】