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Hai Pot shares (301063) disclosed its 2023 annual report on April 25. In 2023, the company achieved total revenue of 12.Blackjackcasino.58 billion yuan, down 7% from the same period last yearBlackjackcasino.04%BlackjackcasinoNet profit from home was 55.8111 million yuan, down 39.12% from the same period last year; non-net profit was 45.8272 million yuan, down 45.45% from the same period last year; net cash flow from operating activities was 43.6155 million yuan, compared with-48.5618 million yuan in the same period last year. During the reporting period, the basic earnings per share of sea pot shares was 0.59 yuan, and the weighted average return on net assets was 4.37 percent.
Based on the closing price on April 24, the sea pot shares are currently trading at a price-to-earnings ratio (TTM) of about 27.84 times, a price-to-book ratio (LF) of about 1.01 times and a price-to-sales ratio (TTM) of about 1.24 times.
The historical quantiles of the company's recent price-to-earnings ratio (TTM), price-to-book ratio (LF) and price-to-sales ratio (TTM) are as followsBlackjackcasino:
Statistics show that the compound growth rate of total revenue of Hai Pot shares in the past three years is 7.45%, ranking fifth among the 11 companies in the wind power parts industry that have disclosed data for 2023. The compound annual growth rate of net profit in the past three years is-19.10%, ranking 8x11.
From a product point of view, in the company's main business in 2023, the forging income was 1.162 billion yuan, down 8.51% from the same period last year, accounting for 92.40% of the operating income; the scrap income was 91 million yuan, up 21.14% from the same period last year, accounting for 7.21% of the operating income; and the material sales revenue was 3 million yuan, down 25.27% from the same period last year, accounting for 0.23% of the operating income.
By the end of 2023, the total number of employees of the company was 660, with per capita income of 1.9057 million yuan, per capita profit of 84600 yuan and per capita salary of 162500 yuan, which changed from-14.65%,-44.10% and 9.50% respectively over the same period last year.
In 2023, the company's gross profit margin was 13.56%, down 2.09 percentage points from the same period last year; the net profit margin was 4.44%, down 2.33 percentage points from the same period last year. According to the single-quarter indicators, the company's gross profit margin in the fourth quarter of 2023 was 13.55%, down 5.92% from the same period last year and 1.37% from the previous quarter; the net profit rate was-1.29%, down 7.50% from the same period last year and 9.03% from the previous quarter.
During the reporting period, the total sales amount of the company's top five customers was 653 million yuan, accounting for 51.89% of the total sales amount, and the total purchase amount of the company's top five suppliers was 733 million yuan, accounting for 71.42% of the total annual purchase.
According to the data, the weighted average return on equity of the company in 2023 was 4.37%, down 5.06 percentage points from the same period last year; the return on invested capital in 2023 was 4.07%, down 4.04 percentage points from the same period last year.
In 2023, the net cash flow of the company's operating activities was 43.6155 million yuan, an increase of 92.1773 million yuan over the same period last year; the net cash flow of fund-raising activities was 411 million yuan, an increase of 404 million yuan over the same period last year; and the net cash flow of investment activities was-132 million yuan, compared with-144 million yuan in the same period last year.
Further statistics show that the free cash flow of the company in 2023 is-22.6981 million yuan, compared with-116.0935 million yuan in the same period last year.
In 2023, the cash ratio of the company's operating income is 61.88%, and the net present ratio is 78.15%.
In terms of operating capacity, in 2023, the company's total asset turnover rate was 0.64 times, compared with 0.82 times in the same period last year (the industry average in 2022 was 0.50 times, and the company ranked 2x21 in the same industry); the fixed asset turnover rate was 4.25 times, compared with 6.22 times in the same period last year (the industry average in 2022 was 3.06 times, and the company ranked 21st in the same industry). The turnover rate of accounts receivable and inventory is 2.62 times and 2.80 times respectively.
In 2023, the cost of the company during the period was 95.5881 million yuan, an increase of 4.417 million yuan over the same period last year; the rate of expenses during the period was 7.6%, an increase of 0.86% over the same period last year. Among them, sales expenses increased by 7.33 percent over the same period last year, management expenses increased by 10.94 percent, R & D expenses decreased by 7.33 percent, and financial expenses increased by 85.85 percent.
In terms of major changes in assets, by the end of 2023, the company's monetary funds had increased by 165.99% over the end of the previous year, accounting for 12.20% of the company's total assets; accounts receivable increased by 4.86% over the end of the previous year, accounting for 5.32% of the company's total assets; inventory increased by 2.86% over the end of last year, accounting for 4.69% of the company's total assets Transactional financial assets decreased by 49.96% compared with the end of last year, accounting for 3.62 percentage points of the company's total assets.
In terms of major changes in liabilities, by the end of 2023, the company's short-term borrowing decreased by 3.56% compared with the end of last year, accounting for 3.34% of the company's total assets; notes payable increased by 2.87% over the end of the previous year, accounting for 2.44% of the company's total assets; non-current liabilities due within one year decreased by 14.49% compared with the end of last year, accounting for 0.59% of the company's total assets Other current liabilities decreased by 4.85% compared with the end of last year, accounting for 1.19 percentage points of the company's total assets.
From the perspective of inventory changes, by the end of 2023, the book value of the company's inventory was 394 million yuan, accounting for 25.47% of the net assets, an increase of 10.9306 million yuan over the end of the previous year. Among them, the inventory price reduction is prepared for 41.5929 million yuan, with a provision proportion of 9.56%.
For the whole of 2023, the company's R & D investment was 41.5512 million yuan, down 7.33% from the same period last year; R & D investment accounted for 3.30% of operating income, down 0.01% from the same period last year. In addition, the company's annual R & D investment capitalization rate is 0.
According to the annual report, by the end of 2023, the company had obtained 16 invention patents, such as the production method of 42CrMo spline shaft forgings for wind power and the production method of 18CrNiMo7-6 forgings for wind power equipment gears. The company's technology center is recognized as Jiangsu Enterprise Technology Center and Jiangsu Special casting and forging Engineering Technology Research Center.
In terms of solvency, the asset-liability ratio of the company at the end of 2023 was 30.32%, down 10.28 percentage points from the end of the previous year; and the interest-bearing asset-liability ratio was 10.74%, down 5.05 percentage points from the end of the previous year.
In 2023, the current ratio of the company is 2.42 and the quick ratio is 1.82.
According to the annual report, among the top 10 circulating shareholders of the company at the end of 2023, the new shareholders are Wei Wei, Shen Aihong, Node Fund-Minmetals Securities FOF32 single Asset Management Plan-Node Fund Pujiang single Asset Management Plan, Tianan Life Insurance Co., Ltd.-dividend products Replaced the Dacheng competitive advantage mixed securities investment fund at the end of the third quarter, Guangfa Baifa big data strategy growth flexible allocation of hybrid securities investment funds, UBS AG, Niusai. In terms of specific shareholding ratio, the shareholdings of Wu Shaozhuang and Beijing Sub-Group Advertising Co., Ltd. have increased, while those of Zhangjiagang Shengchi Enterprise Management Partnership (Limited Partnership) and Zhangjiagang Shengchang Business Management Partnership (Limited Partnership) have declined.
In terms of chip concentration, by the end of 2023, the total number of shareholders in the company was 8539, an increase of 6.42% from the end of the third quarter, while the value of stock market holdings per household decreased to 278700 yuan from 334800 yuan at the end of the third quarter, a decrease of 16.76%.
Indicator Notes:
Price-earnings ratio
= Total market value/net profit. When a company loses money, the P/E ratio is negative. At this time, it is meaningless to use the P/E ratio to value it, and the P/B ratio or P/P ratio is often used as a reference.
B ratio
= Total market value/net assets. The price-to-book valuation method is mostly used for companies with large fluctuations in earnings and relatively stable net assets.
market sales rate
= Total market value/operating income. The price-to-sales ratio valuation method is usually used for growth companies that lose money or make small profits.
The price-to-earnings ratio and price-to-sales ratio in the text are calculated based on the TTM method, which is based on data for the 12 months up to the latest financial report (including forecasts). The P/B ratio adopts LF method, which is calculated based on the latest financial report data.
When the P/E ratio is negative, the current quantiles are not displayed, which will cause the line chart to be interrupted.
(Article source: China Securities Journal·China Securities Network)