On January 26, GLONGHUI (688028.SH) announced its 2023 annual results forecast. It is expected to achieve operating revenue of 50.9 million yuan to 62 million yuan in 2023, an increase of 42.40% to 49.64% over the previous year. It is estimated that net profit attributable to owners of the parent company will be 90,000,000 yuan to 108.0 million yuan in 2023, an increase of 43.26% to 71.92% over the previous year. In 2023, net profit attributable to owners of the parent company after deducting non-recurring profit and loss is expected to be 70.2 million yuan to 86.40 million yuan, an increase of 27.55% to 53.06% over the previous year.
During the reporting period, the company consolidated technological research and innovation. New products such as tools for processing titanium alloy structural parts for 3C electronic products, fairway PCBN cutters for constant velocity universal joint processing, and PCBN rotary milling blades for ball screw processing were introduced to the market one after another, achieving market breakthroughs and revenue growth. During the reporting period, the company strengthened sales and marketing efforts, achieved great results in developing new customers, further expanded its customer base coverage; continued to promote the internationalization strategy, implemented the “going global” policy, participated in competition in the global tool market, and achieved rapid growth in export revenue.