The first three quarterly reports of Shanghai and Shenzhen cities appeared! Jinjing Technology and CITIC Special Steel have won the "Good Color Head"

On the evening of October 11, Jinjing Technology (600586.sh) and CITIC Special Steel (000708.sz) respectively disclosed the first three quarterly reports of Shanghai and Shenzhen this year, and the performance of the two companies was better, and the net profit increased by nearly 6 times and nearly 40% respectively over the same period last year.

【Net profit in the first three quarters increased by 581%】

Jinjing Technology announced that in the first three quarters, the company achieved operating income of 5.091 billion yuan, an increase of 48.82% year-on-year; net profit attributable to shareholders of listed companies of 1.248 billion yuan, an increase of 581.11% year-on-year; basic earnings per share of 0.8733 yuan / share, an increase of 581.20% year-on-year. The net cash flow generated by the company's operating activities was 1.216 billion yuan, an increase of 200.94% year-on-year.

In the third quarter, the company achieved operating income of 1.746 billion yuan, an increase of 40.55% year-on-year; net profit attributable to shareholders of listed companies was 465 million yuan, an increase of 333.51% year-on-year; basic earnings per share was 0.33 yuan per share, an increase of 333.73% year-on-year.

For the performance growth, Jinjing Technology said that it mainly benefited from the increase in product prices, the impact of the company's sales structure adjustment and the expansion of the company's scale.

According to the financial report, Jinjing Technology is mainly engaged in the development, production, processing and operation of photovoltaic glass, energy-saving glass, glass original sheet, automotive glass and deep processing products, as well as upstream soda ash and its extension products.

In the secondary market, at the close of the 11th, Jinjing Technology fell 3.10% to 10.31 yuan / share, with a total market value of 14.7 billion yuan. Since the beginning of this year, the cumulative increase in the stock price of Jinjing Technology has reached nearly 60%, especially in the third quarter.

From the perspective of shareholding, in the third quarter, the company was purchased 1.31% by Ceibal Mingrui managed by fund manager Zhou Yingbo, and Xinjin became the second largest shareholder; in addition, Zhejiang Fengli Enhanced Bond Fund became the seventh largest shareholder.

【Proposed to increase the layout of photovoltaic glass business】

In terms of photovoltaic glass products, the company's photovoltaic glass products are operated by a wholly-owned subsidiary of Malaysia Jinjing Technology and a holding subsidiary, Ningxia Jinjing Technology Co., Ltd.

Among them, the main products of Malaysia Jinjing Technology are battery front panel glass and back panel glass, which are positioned as the main accessories of thin-film solar photovoltaic modules. The first phase of the construction of a 500t/d back plate glass production line, supporting the linkage tempering deep processing, the annual output of 2.2mm tempered glass 25.2182 million square meters; the second phase of the construction of a 500t / d front plate glass production line, the annual output of 2.5mmtco front plate glass original sheet 24.82 million square meters. Five deep processing production lines supporting the tempering of the connecting line have been officially put into operation on July 1, 2021, and the relevant main lines are expected to start ignition in the fourth quarter.

Ningxia Jinjing Technology Co., Ltd. produces a variety of products supporting the solar energy industry, the main production line is 600t/d one-kiln three-line photovoltaic lightweight panel production line, which has been ignited on August 30, 2021, and the equipment heat-combined heat adjustment. The normal annual output is 28.495 million square meters (measured at 2.5mm), and the main products are positioned as the main accessories of large-size, ultra-thin crystalline silicon solar photovoltaic modules.

Jinjing Technology said that the above production lines are in the early stage of production, so the proportion of related business revenue to the company's consolidated operating income from January to September 2021 is low. The company intends to continue to increase the layout of the photovoltaic glass business by further building the ultra-white rolled photovoltaic glass production line of Ningxia Jinjing 2 1000t/d and the Malaysian Jinjing 1000t/d, as well as the iterative upgrading of the existing production line.

【CITIC Special Steel net profit increased by 40%】

According to the third quarterly report of CITIC Special Steel, the company achieved operating income of 74.216 billion yuan in the first three quarters, an increase of about 30% year-on-year, and the net profit attributable to the shareholders of listed companies was 6.062 billion yuan, an increase of 39.42% year-on-year. Basic earnings per share were RMB0.861.

In view of the improvement of performance, CITIC Special Steel said that on the one hand, during the reporting period, the company actively optimized the product structure, and at the same time actively adjusted the sales price according to the market demand positioning and raw material price fluctuations, thereby maintaining a high gross profit margin level of the product; on the other hand, the company strictly controlled the cost expenditure during the reporting period, in terms of cost, in the face of unfavorable factors such as the sharp rise in raw material prices, the company took many measures to reduce costs and increase efficiency, and effectively controlled cost growth through procurement cost reduction, process cost reduction, management cost reduction and other paths. In addition, in terms of expenses, the company strictly controls the occurrence of various expenses, and on the basis of lower expenses in the three periods in the same period of 2020, the year-on-year increase in the reporting period was 4.81%.

Although CITIC Special Steel's revenue and net profit increased, the net cash flow from operating activities during the reporting period fell by nearly 40% year-on-year. In this regard, the company said that on the one hand, due to the rise in the price of domestic iron ore, coking coal and other bulk raw materials, resulting in a sharp increase in inventory occupation funds; on the other hand, the company's operating receivables have increased, resulting in a decrease in net cash flow from operating activities compared with the same period last year.

This article originated from Capital State