Raw material prices dragged down river special motor performance – raw material prices, Jiang special motor – Electrical industry
The main business of small and medium sized motors in lifting metallurgical motors, High pressure Motors and other special motors, raw materials prices rose sharply due to the recent erosion of profits, dragged down growth for the company.
Jiang special motor (002 176) semi-annual report released on August 11, 2008, in the first half operating income 21,655.42 million, an increase of 40.02%; operating profit of 2,025.37 million, an increase of 6.56%; a total profit of 2,376.59 million an increase of 21.18%; net profit of 1,828.6 million, up 20.6%; earnings per share of 0.27 yuan. Expected from January to September 2008 net profit attributable to parent company owners less than 30% year on year growth.
Company in the first half operating income of more than 40% increase, due to capacity expansion and market development efforts to strengthen; However, due to electrical products company's main raw materials, silicon steel, enameled wire, over 40% of the total cost of steel, raw material prices led to income share in the highest gross margin of crane operations decreased 6.23 percentage points year on year, metallurgy and fan pump were reduced 8.26 and 5.61 percentage points, the company consolidated gross margin decreased 6.03 percentage points year on year, indicating a heavier reliance on cost performance of the company, to lower cost pressures larger conduction resistance, resulting in operating profit up by 6.56% only.
Although the company had net profit rose a more moderate 20.6% growth rate, but the contribution to operating income which is too large, in 2008 the company received government subsidies in the first half with 5.108 million yuan Other Operating income totaled 5.151 million yuan funds, more than 4.504 million yuan last year, an increase of 696.1%; net operating income increase of 2.908 million yuan a year earlier, while gross profit increased by only 4.154 million yuan lines also; rely on operating income to achieve sustainability of such poor performance.
Therefore further enhance the company's performance depends on the price is bound to improve, or develop high-profit products. The company announced May 28 in Shanghai Lin Feng Power Equipment Co., Ltd. (hereinafter referred to as "Lin Feng Company") signed a "vertical magnet wind Generator Cooperation Letter of Intent "; In recent years, the Company and Lin wind wind power industry, in close co-operation has developed a vertical wind magnet Generator (Product model with 300 (0.3kw), P1000 (1KW), P3000 (3KW), PK-10 (10KW), etc.), the company responsible for products generating part of the production; with the current mainstream of large wind turbine is different the company chose a small wind turbine wind power equipment such a small market, product structure, easy installation and no wind requirements for a wide range of products have been exported to EU, America, and South Korea more than 20 countries and regions, have access to the scale of production and sales phase, the company is expected to become the new profit growth point.
Information, the company's advantage in the field is lifting metallurgy motor, motor areas of metallurgy in the lifting of sales value and market share position in the forefront of years in a row 2003-2006, 2006, Metallurgy in lifting motor market share 12.69% rate of first place. Metallurgical motor in the consolidation of market position while lifting the company to actively enter the medium-sized high-voltage motor and other new market segments, and strive to consolidate and increase market share in motor lifting metallurgy, while maintaining steady growth in production and improve product quality, based on development The new high-voltage electrical products, the port marine motors, elevator motors, etc. to Other Segment is extended by multi-market expansion support this growth.
2008 first quarter, total company operating income of 8,196 yuan, up 40.94%; net profit of 4.04 million yuan, up 28.27%; Earnings per share 0.06 yuan, 1.2% return on equity.
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