On January 6, 2022, Haifu Co., Ltd. (301063) issued an announcement stating: Dongbei Securities Tang Kai Han Jincheng Gu Yihong, Southwest Securities Tai Guilong Wang Ning, CMB Wealth Management Zhang Chi, Debon Securities Liu Rui, and Huafu Fund Deng Xiang investigated our company on January 6, 2022.
The main contents of this survey are:Q: What is the company's total forging production capacity in 2021?
A: In 2021, the company's total forging output exceeded 100,000 tons.
Q: What is the company's share of wind power forgings and oil and gas forgings production capacity in 2021?
A: It is estimated that wind power forgings will account for about 60% of production capacity in 2021, and oil and gas will account for about 30%. The specific data is based on the 2021 annual report disclosed by the company.
Q: What are the company's main wind power forging products in 2021?
A: The company's 2021 wind power forgings are mainly gearbox forgings and yaw propeller forgings.
Q: Why is the gross margin of gearbox forgings of the company's wind power forgings lower than yaw propeller forgings?
A: The company's products are sold using a cost plus pricing model to determine product prices based on raw material costs, processing costs, and a certain level of profit. However, due to their special process and technical requirements, the raw material cost of gearbox forgings is higher than that of yaw propeller forgings, so the calculated gross margin of gearbox forgings is lower than that of yaw propeller forgings.
Q: Does the company have a transportation radius for wind power, oil and gas products?
A: There are no shipping radius issues with all of the company's products.
Q: What are the main differences between hydraulic press and hydraulic press products?
Answer: The advantages of hydraulic presses when working are high strength, slow and uniform, and no vibration. Therefore, the internal structure of the forged steel is dense, tough, and not easy to break. The products produced have more stable performance and can meet the special process requirements of certain products.
Q: Does the company have industry barriers?
A: The customized characteristics of forging products determine that the forging industry, especially in the field of large and high-end forgings, has high industry barriers, such as qualification certification, customer barriers, equipment and capital barriers, technical and experience barriers, etc.
Q: What is the main field of the “High-end Equipment Key Component Precision Machining Project,” one of the company's fund-raising projects?
A: This project is mainly to enrich the company's product range, optimize the company's product structure, and process high-quality steel forgings and key components used in high-end equipment such as deep-sea engineering equipment and wind power engineering equipment around the needs of special parts for land and deep-sea oil and gas equipment and wind power engineering equipment.
The main business of Kaifu Co., Ltd. is mainly engaged in R&D, production and sales of special forgings for large and medium-sized equipment. The products are widely used in oil and gas extraction, wind power, mechanical equipment, ships, nuclear power and other fields, providing global equipment manufacturers with customized forging products and components with good comprehensive performance and stable quality
According to the 2021 three-quarter report of Haifuo Co., Ltd., the company's main revenue was 752 million yuan, down 0.56% year on year; net profit to mother was 657.18,600 yuan, down 16.97% year on year; after deducting non-net profit of 56.5063 million yuan, down 22.93% year on year; in the third quarter of 2021, the company's main revenue in a single quarter was 231 million yuan, down 61.27% year on year; debt ratio was 231 million yuan, down 61.27% year on year; debt ratio 41.03%, investment income of 194,200 yuan, financial expenses of 7.927,200 yuan, gross profit margin of 16.47%.
The stock had no institutional ratings in the last 90 days. The net financing inflow in the past 3 months was 2.0921 million, and the financing balance increased; the net inflow of securities lending was 0.0000, and the securities financing balance increased. According to the Securities Star valuation analysis tool, the good company rating of Sea Pot Co., Ltd. (301063) is 3 stars, the good price rating is 1 star, and the overall valuation rating is 2 stars. (Rating range: 1 to 5 stars, maximum 5 stars)