The announcement time of this financial report is: 2023-10-20 07:55:50

Tongyizhong (stock code: 688722) is a national high-tech enterprise specializing in the research, development, production and sales of ultra-high molecular weight polyethylene fibers and their composites. With more than 20 years of deep ploughing and technical accumulation in the industry, Tongyizhong has become one of the few enterprises in the industry that can realize large-scale production of UHMWPE fiber and its composites at the same time, with the layout of the whole industry chain of UHMWPE fiber industry. Its main products include ultra-high molecular weight polyethylene fiber and its composites, which can be divided into two categories: non-weft cloth and bulletproof products.

According to Tongyizhong's quarterly report of 2023, the company's net assets increased from 1.244 billion yuan at the end of last year to 1.278 billion yuan at the end of this report, with a relatively steady growth rate. At the same time, the asset-liability ratio dropped from 16.59% at the end of last year to 8% at the end of this reporting period, indicating that the company's debt level has declined and its financial position is more robust.

In terms of profitability, both gross profit margin and net profit margin in Tongyi have declined. The gross profit margin from the beginning of the year to the end of the reporting period was 39.28%, down from 40.15% in the same period last year. The net interest rate also fell from 29.31% in the same period last year to 25.74% at the beginning of the year to the end of the reporting period. This may be due to the company's increased operating costs, resulting in a decline in profitability.

However, the net profit in Tongyi remained stable. The net profit from the beginning of the year to the end of this report was 134 million yuan, the same as that of 134 million yuan in the same period last year. This shows that the company can maintain a stable profit level in the face of cost pressure.

In addition, the return on assets (ROE) in Tongyi is 10.59% of that at the end of this report, which indicates that the company's assets are used more efficiently and can bring higher returns for shareholders.

In terms of financial position, the total assets in Tongyi decreased from 1.491 billion yuan at the end of last year to 1.389 billion yuan at the end of this reporting period, and the total liabilities decreased from 247 million yuan at the end of last year to 111 million yuan at the end of this reporting period. This shows that the size of the company's assets and liabilities have shrunk.

The goodwill in Tongyi was 193 million yuan at the end of this report, the same as the 193 million yuan at the end of last year. This shows that the company did not generate new goodwill in M & An activities, nor did it carry out goodwill impairment.

Generally speaking, the overall operating condition of Tongyizhong in the third quarter of 2023 was sound, with an increase in net assets and a decline in asset-liability ratio, showing a good financial position. Although the gross profit margin and net profit margin have declined, the net profit remains stable and the return on assets (ROE) is high, indicating the company's profitability and efficient use of assets. In the future, investors should pay attention to the changes of the company's cost control ability and profitability, as well as the company's competitive position in the industry and the change of market demand.

This article only represents the judgment made by the analyst himself or the analyst on the basis of AI analysis, and can not be used as any investment index, nor does it constitute any investment advice. The original intention of this paper is to help investors analyze and judge the capital market data in the most intuitive and fast way and from the most professional perspective.