Gelonghui, January 26 | Dalian Electric Porcelain (002606.SZ) announced its 2023 annual results forecast. Net profit attributable to shareholders of listed companies during the reporting period was 45.0 million yuan to 60 million yuan, down 66.80%-75.10% from the same period last year; net profit profit after deducting non-recurring profit and loss was 30.000 million yuan — 45.0 million yuan, down 73.63%-82.42% from the same period last year; basic profit per share was 0.10 yuan/share — 0.14 yuan/share.
The company's sales implementation method is based on the transfer of control as the point of revenue recognition. At the same time, domestic sales confirm sales revenue based on the acceptance certificate signed by the customer. The recipient carries out the inspection according to the line construction schedule and actual schedule. The inspection time is highly uncertain and volatile. Therefore, the company's revenue and profit will change with changes in product supply and inspection cycles, and the supply and inspection cycle will also fluctuate according to the customer's engineering requirements, construction progress, product grade, and order size.
Since the tender scale and amount of the high-grade, high-value-added UHV market in 2022 were significantly reduced compared to the same period of the previous year, the company's winning bid volume for UHV insulator products also declined markedly as a result. As a result, the company's overall number of orders that can be executed in 2023 fell sharply compared to the same period last year, so there was a significant decline in revenue in 2023.