As beautyFreevideopokerslotgamesThe listed company of the group (000333), he Kangxineng (300048) (300048)Freevideopokerslotgames.SZ) is rapidly seizing the high ground of the market with its competitive advantages of innovation-driven and vertical integration, showing a strong growth trend.
Recently, he Kangxin can release the first quarter financial results of 2024. A number of financial indicators such as operating income and return net profit have increased significantly, the company's operating performance has improved significantly, and the overall development of the company has shown a significant positive trend.
The contribution of new energy business is outstanding, and the strategic layout adjustment is focused.
According to the first-quarter financial report of Hekang Xinneng, the company's operating performance exceeded market expectations. In the first quarter of this year, the company achieved revenue of 699 million yuan, an increase of 110.71% over the same period last year, and a net profit of 11.03 million yuan, an increase of 1566.40% over the same period last year. The net profit of 8.73 million yuan was deducted, an increase of 4968.15% over the same period last year, indicating the strong development of the company's business and a substantial increase in profitability.
Combined with other important financial indicators in the first quarter financial report of Hekang Xinneng, we can find that the speed of the company's asset turnover has also improved (mainly due to the decline in inventory level), and the company's net operating cash flow is positive, which is more than 12 times higher than that in 2023.
In addition, he Kangxineng reported a monetary fund of 751 million yuan in the first quarter, an increase of 12.36% over the beginning of the period.
The positive changes in financial indicators such as the substantial increase in revenue and net profit, the acceleration of asset turnover, the substantial increase in cash flow and the increase in monetary funds all prove that the operation quality of Hekangxineng has been effectively improved.
He Kang Xinneng's performance in the first quarter of 2024 is mainly in two aspects. First, the scale of the company's photovoltaic EPC sales business has increased, becoming an important growth point of the company's revenue. In the first quarter, the household savings products developed and produced by Hekangxineng have been sold and shipped in bulk.
Second, the steady development of the company's frequency converter business in the first quarter has also supported the company's all-round development, and the launch of new products indicates a continuous increase in the probability of further growth in performance. In March this year, the company solemnly launched new low-voltage frequency conversion products-- CM690 series universal frequency converter and EL10 general dexterous frequency converter, demonstrating the company's technological innovation ability. At the same time, Nikko Electric is also unveiled with a new brand image.
Further, the core reason for the obvious improvement of Hekangxineng is the adjustment of the company's strategic layout and business focus. In the second half of last year, Hekangxineng carried out strategic layout adjustment, focusing on three main businesses: household energy storage and photovoltaic inverter self-research and self-production, photovoltaic EPC, high and low voltage frequency converter self-research and self-production.
As a result, the company can make more efficient use of resources and give play to its technological advantages and market potential in the field of new energy and industrial control. Through the vertically integrated industrial chain layout, the company has achieved comprehensive coverage from R & D to production, and further improved product quality and market competitiveness. Under this background, at present, the domestic and foreign markets of Hekang Xinneng's main business expand smoothly, the orders are sufficient, and the competitive advantage is significantly enhanced.
The new base starts to increase production capacity and opens up room for future growth in overseas markets.
For Hekang Xinneng, the current performance may only be the starting point of a sustained growth trend, looking forward to the future, its performance is expected to further improve.
According to the first quarterly report of Hekang Xinneng, the company's R & D expenses increased by 134.75% in the first quarter compared with the same period last year. This means that the company's investment in research and development has increased significantly compared with the same period last year, indicating that the company is committed to product upgrading to enhance its market competitiveness. Hekang Xinneng said that the company continues to cultivate the core competence of high-quality development, vigorously invest various resources, and carry out short -, medium-and long-term product and technology research and development.
In terms of new energy business, Hekang Xinneng's household savings and photovoltaic business is entering a stage of rapid development. In order to expand the production scale and promote sustainable development, the company has started the construction of a new manufacturing base in Anqing to enhance the production capacity of the company's main business and lay a solid foundation for the next stage of business development.
Data show that at present, the company has distributed production bases in many places throughout the country, forming a multi-point support pattern of industrial bases. In Suzhou, a base focusing on household energy storage, photovoltaic inverter and frequency converter has been set up, dedicated to technological innovation and product research and development. As the core production base of high voltage frequency converter, household energy storage and photovoltaic inverter, Beijing headquarters plays an important role in supporting the industry. At the same time, the photovoltaic EPC operation headquarters in Hefei is also operating efficiently, promoting the company's business expansion in the photovoltaic field.
It can be predicted that the increase in production capacity of Hekang Xinneng will help it to further expand overseas markets and open up market incremental space, especially for household savings business. The company has launched customer storage single-phase all-in-one machine and three-phase all-in-one machine products, and began to sell in bulk.
In addition, the higher gross margin of energy storage business in overseas markets will also further enhance the company's profitability. Because the company has also achieved rapid growth in distributed photovoltaic EPC business, the demand for renewable energy projects in overseas markets provides the company with a broad space for development.
In terms of the main business of frequency converters, with the implementation of the government's "Action Plan for promoting large-scale equipment Renewal and Consumer goods Trade-in" launched in March, the company's market segment is expected to remain high in the next few years, which will not only help the company to obtain more orders, but also help to increase its growth rate.
In the long run, the steady growth trend of the company's frequency converter business sector is becoming more and more obvious. Thus it can be seen that with the further stabilization of the main business of the frequency converter and the continuous ploughing and focus in the field of new energy, Hekang Xinneng is accelerating the release of development potential. The increase of R & D investment, the construction of new manufacturing bases and the continuous expansion of overseas markets will provide strong support for the company's steady growth in the next few years.
Based on this, some sellers reported that they maintained the "buy" rating and predicted that Hekangxineng's income and net profit would maintain steady growth in the next three years. The income from 2024 to 2026 was 3.477 billion yuan, 4.75 billion yuan and 6.519 billion yuan respectively, and the net profit of returning mother was 60 million yuan, 130 million yuan and 186 million yuan respectively.
It can be seen that the core competitiveness of Hekang Xinneng continues to strengthen, and the business model and growth logic are becoming increasingly clear, indicating that the company is about to enter a new period of growth. In the future, the rapid development of Hekang Xinneng will not only enhance its core competitiveness, but also broaden the territory of the new energy industry for Midea to meet the opportunity of the transformation of the global energy structure.
