Chongqing Electromechanical (02722) announced its annual results for the year ended December 31, 2023. The group achieved sales during the period...
According to the Zhitong Finance App, Chongqing Electromechanical (02722) announced the results for the year ended December 31, 2023. The group obtained total operating revenue of 8.059 billion yuan (RMB, same below) during the period, an increase of 11.84%; net profit to mother of 304 million yuan, a decrease of 2.15% year on year; basic income per share of 0.08 yuan; and proposed to pay a final dividend of 0.02 yuan per share.
The announcement said that in 2023, the Group's clean energy equipment sector will actively seize market opportunities and achieve good overall growth. The wind power blade business has gone through the industry adjustment period, completed production line layout adjustments, continuously enhanced R&D capabilities, and continued to expand to large-scale and lightweight products, strengthened strategic cooperation with leading enterprises in the same industry, entered the rapid development circuit, and achieved leapfrog growth; the industrial pump business adheres to the leading line of innovative technology and closely follows the pace of the market to develop new products. Many products already have competitive advantages in the international market. A hydrogenation project in Fujian successfully localizes pumps to achieve import substitution and continue to achieve high-quality growth; the gas compressor business continues to cultivate the rock leaf and gas sector and increase the development of large high-pressure natural gas compressors and Market application achieved steady growth; the wire and cable business overcame the impact of the decline in the real estate market, continuously adjusted business models, products, and market structures; the engineering cable and copper profile market achieved breakthroughs and business remained stable; the industrial fan business overcame the decline in traditional steel and cement industries, continued to develop incremental markets such as chillers and MVR, and orders doubled, driving the overall business to remain stable; the hydroelectric power generation equipment business grasped international market recovery opportunities, and the business recovered at a low level. The overall revenue of the sector reached about 6.557 billion yuan, an increase of about 16% over the previous year.