Daewon Pump’s net profit falls 31% in 2021: Solid operating trend unchanged

2022-06-20 0 By

Read the financial statements of listed companies, not only to see the data more to see the logic behind the data.Recently, Dayuan Pump industry (603757) released 2021 financial results, realizing revenue of 1.484 billion yuan, a year-on-year growth of 5%.Net profit was 147 million yuan, down 31% year on year.On the surface, the company does not increase profits.However, a careful reading of dayuan Pump’s core product sales growth, gross margin, accounts receivable, inventory and the company’s cash flow key data, may find that the company’s net profit decline is caused by the short-term rise in raw materials, but the company’s steady operation trend has not changed.Data from digging shell Research Institute shows that Dayuan pump industry is mainly engaged in the research and development, production, sales and provide related services of all kinds of pumps. It is a global well-known brand civil pump provider with decades of brand history, and also a high-tech enterprise and leading enterprise in the domestic shielded pump industry.The specific business includes three segments, household shielded pump business segment, civil water pump business segment, industrial shielded pump business segment.The main products include submersible pumps for Wells, land pumps, small submersible pumps, chemical shielding pumps, air conditioning and refrigeration shielding pumps, hot water circulation shielding pumps, and accessories.The annual report shows that daeyuan Pump industry in 2021 to achieve the overall growth of the products.Among them, air conditioning refrigeration shield pump sales growth rate reached 24.47%.It is worth mentioning that the revenue growth of the company is achieved under the circumstance of overcoming multiple adverse factors such as the repeated epidemic at home and abroad, the rise of international cargo transportation costs, and the periodic gap between supply and demand of domestic industrial electricity, and has reached the highest level in history since the establishment of the company.Specific major sectors, home shielded pump business sector to achieve the third generation of energy-saving pump products successfully complete verification and batch order delivery, downstream including Power, Bosch and other market share ranking the world’s top 10 manufacturers have achieved supporting supply or coverage.The sector generated revenue of about 98 million yuan last year, up 44.4% year on year;Civil water pump business segment has overcome the industry recession, the annual revenue of about 733 million yuan, year-on-year to achieve a small positive growth;The middle and high-end strategy of industrial shielded pump business sector has been firmly implemented and implemented. The annual sales revenue reached 140 million yuan, with a year-on-year increase of 46%.And the net profit decline is because of the upstream main raw material price high concussion movement causes each big product gross profit margin to decline caused by.Happily, although net profit fell last year, the company’s cash flow was not significantly affected.Net cash flow from operating activities was rmb163 million last year, up 4.51 year on year.As of December 31, 2021, the company has monetary capital of 480 million yuan and transactional financial assets of 50 million yuan without any loans.This article comes from digging shell net