The rising cost, the price of the price of the Qinchuan IoT lost 6.1573 million yuan in the first half of the year

On the evening of August 4th, Qinchuan Federation (SH688528, a stock price of 10.70 yuan, a market value of 1.798 billion yuan) disclosed the 2022 semi -annual report.

In the first half of 2022, Qinchuan IoT achieved operating income of 154 million yuan, an increase of 0.44%year -on -year, and the net profit attributable to the mother was 6.1573 million yuan. It can be seen that in the first half of this year, Qinchuan's affiliated revenue increased slightly year -on -year, and the net profit decreased significantly.

"Daily Economic News" reporter noticed that the sales of the gross profit margin continued to decline after the Qinchuan Masterpiece was listed in July 2020. In addition, in order to expand business fields and reduce costs, Qinchuan IoT also established a subsidiary to expand to the smart sensor industry in the first half of this year.

The gross profit margin fell 11 percentage points

According to the data, the main business of Qinchuan Masterpieces is the research and development, manufacturing, sales and service of smart gas meters. The main products are the IoT intelligent gas meter and its operating system, IC card smart gas meter, membrane gas meter, industrial and commercial gas gas gas, industrial and commercial gas gas Watch, Internet of Things smart water meter.

Among them, the Internet of Things intelligent gas meter is the company's core product. In the first half of 2022, sales increased by 24.81%year -on -year, and revenue accounted for 88.07%. However, the sales revenue of another important product IC card smart gas meter decreased by 70.99%year -on -year, and the proportion of sales revenue accounted for operating income from 19.5%in the first half of 2021 to 5.66%in the first half of 2022.

In this regard, the Qinchuan Federation believes that the change in product revenue is consistent with the trend of market development and the adjustment of the company's sales strategy. With the continuous innovation of technology, the Internet of Things intelligent gas meter has become the development trend of the gas meter industry.

Regarding the problem of a large decline in net profit at home, Qinchuan Federation mentioned in the semi -annual report that the decline in gross profit margin is the main reason. In the first half of this year, the gross profit margin of Qinchuan Wuxian was 27.31%, a 10.98 percentage point compared with the same period last year. Behind the decline in gross profit margin is the decrease in product prices and rising costs.

Qinchuan Winnarian believes that market competition is becoming increasingly fierce. In order to further expand the market share, the company actively develops new customers and large customers on the basis of maintaining the stickiness of the original customer, leading to a decline in sales prices. The rise in product costs comes from the procurement price of modules and IoT cards, intelligent gas meter main control chips such as main control chips, and other raw materials. The company's fixed assets have risen, but the production capacity has not yet been fully released, which led to an increase in depreciation expenses in manufacturing costs in the first half of the year, further increasing product costs.

It is worth mentioning that in terms of extended time, Qinchuan Materials landed on the science and technology board on July 1, 2020. After listing, the gross profit margin continued to decline. Wind data shows that in the first half of 2020, 2020, the first half of 2021, 2021 and the first half of 2022, the sales gross margin of Qinchuan IoT was 43.63%, 39.18%, 38.29%, 35.89%, 27.31%.

Expand to the intelligent sensor industry

In order to improve the company's profitability, the Qinchuan IoT has continuously increased investment in R & D and enhances the core competitiveness of the product. In the first half of this year, the company invested R & D costs of 22.818 million yuan, an increase of 26.54%year -on -year. The number of R & D personnel continued to increase from 157 at the end of 2021 to 185 at the end of June 2022.

On the other hand, Qinchuan Masterpiece extends to the upper reaches of the industrial chain to reduce costs and expand the business field.

In June this year, Qinchuan IoT invested in the establishment of a wholly -owned subsidiary Meishan Qinchuan Intelligent Sensor Co., Ltd., responsible for the construction of new business intelligent sensors and core component projects and smart gas surface cavity projects. Listed companies said that the intelligent gas surface cavity is one of the components of the company's intelligent gas meter. It is similar to the company's existing main business industry chain, which can reduce production costs and help the company's development of overseas markets and enhance competitiveness.

The intelligent sensor and core component projects include automobile smart sensors, smart home smart sensors, smart cities' IoT smart sensor terminals, and industrial IoT smart sensor terminals. The first -mover advantage on the intelligent gas meter, as well as the unique advantages of technical reserves and intelligent manufacturing industrialization technology in the construction of information systems, further optimize the company's business layout and expand marketing fields.

The reporter noticed that the total investment of the two projects of Qinchuan Wuxian was about 1 billion yuan, and the project construction cycle was longer. The total construction cycle of intelligent sensors and core component projects is 6 years, and the construction cycle of the smart gas surface cavity project is 18 months.

In response to the relevant issues related to the semi -annual report, on the afternoon of August 5, the reporter of the Daily Economic News called the Qinchuan IoT public phone and sent the interview outline to the electronic mailbox according to the staff's requirements. Since then, the reporter once again called Qinchuan IoT to publicly call, and the staff said that related issues could communicate at the subsequent performance briefing.

Daily Economic News

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