Weifu Hi-Tech (000581) issued an announcement on January 14, 2022: pony private placement Shan Xingzhou, Pu Zhen Investment Chi Liang, Huanhan Investment Hu Yanyu, Yueyi assets Gu Yihua, Luoyang assets Wang Bin, founder Securities Chen Binjie, Caitong Securities Li Binjie, Xingchuang Group Pu Hongchang, Xiaoyi Investment Yin Xiaoyu, Union Fund Ma Zhenhua, Yusheng assets Zhu Chunhua, Open Source Securities Wang Binyu, Mai Hong assets Sun Yuxiang, Soochow Securities, Tang Yahui and Liu Bo, Haitong Xu Gengyan and Li Yahui, Wang Kaixuan, Wang Kaixuan, flush Shun GE Zhongtao Zhang Wen Zeng Zheng Feng Qiwen, Yude Investment Jin Tianzhen Feng Chao Li Hao, CICC China International Capital Corporation Chen Zhenhao, everyone assets Qian Yi Guo Lin, Zhong Qian Investment Zeng Siyuan Xu Guoyang investigated our company on January 13, 2022.
The main contents of this survey are as follows:Q: basic overview of the company, introduction of hydrogen energy and other new businesses
A: the basic situation of the company is briefly introduced, with emphasis on the company's hydrogen energy business and other new business.
Q: please introduce the equity incentive situation and how to further play a role in supporting the company's new strategy?
A: the company successfully implemented a restricted stock incentive plan for 601 people, including senior executives, middle managers and other core personnel, for the first time in 2020, and the overall effect is very positive. it promotes the integration of the interests of the company, shareholders and core employees. The follow-up company will continue to study the continuous equity incentive scheme and further implement and promote the realization of the company's new strategy.
Q: the financial situation of the company is relatively good. How do you plan to use the cash on your current account in the future?
A: the company's current cash position on the account is the embodiment of the company's good operating results over the years, and the company will actively give full play to this important advantage. planning and use is carried out around the sustained high level of dividends, new strategic business input and other effective industrial fund investment.
Q: a considerable part of the company's investment income comes from shareholding associates. does it affect the sustainability and growth of the company's value?
A: at present, the company's main shareholding companies are: Bosch Power Assembly Co., Ltd. (referred to as "RBCD", 34% of the company's combined shares), Zoomlion Automotive Electronics Co., Ltd. (Zoomlion Electronics, 20%), Wuxi Weifu Environmental Protection Catalyst Co., Ltd. (referred to as "Weifu Environmental Protection", the company indirectly holds 49%), and so on. They all belong to strategic customers or strategic suppliers in the upper and lower reaches of the main business industrial chain formed by the company's strategic development for many years, and at the same time, they have further become close strategic partners, with medium-and long-term sustained strategic coordination and combination value. effectively protect the company's strategic competitiveness and industrial investment returns.
Q: the company's new business layout action at the present stage is relatively positive. How to deal with the contradiction between strategic organization management and resource guarantee?
A: in recent years, in line with the development trend of the "new four modernizations" of the automobile, the company not only consolidates and promotes the existing business, but also speeds up the exploration and layout of new business. mainly related to "green hydrogen energy", "intelligent electric", hydraulic core components / systems and other key parts business areas. The company does face many challenges of effective strategic organization and management and resource guarantee, but the company is confident to give full play to the advantages of high-quality cadres and masses, successful opening and cooperation for many years, and focus on many synergy formed by the automobile industry. high-level scientific planning to promote the process of various strategies in an orderly manner, while controlling major strategic risks.
Weifu Hi-Tech's main business: research and development, production and sales of automotive core parts.
According to the third quarterly report of Weifu Hi-Tech 2021, the company's main income was 12.374 billion yuan, up 24.76% from the same period last year; the net profit was 2.13 billion yuan, down 4.5% from the same period last year; and the non-net profit was 2.146 billion yuan, up 22.76% from the same period last year. In the third quarter of 2021, the company's main income in a single quarter was 3.336 billion yuan, up 0.37% from the same period last year; and the net profit in a single quarter was 485 million yuan, down 46.39% from the same period last year. The non-net profit in a single quarter was 444 million yuan, down 22.48% from the same period last year; the debt ratio was 30.35%, the investment income was 1.605 billion yuan, the financial expenses were 20.8435 million yuan, and the gross profit margin was 16.36%.
In the last 90 days, a total of four agencies rated the stock, including two buying ratings and two overweight ratings; the average institutional target price in the past 90 days was 32.09; the net financing inflow in the past three months was 66.2068 million, and the financing balance increased; the net outflow of securities loans was 9.2011 million, and the balance of securities lending decreased. Securities Star valuation analysis tool shows that Weifu Hi-Tech (000581) good company has a rating of 3 stars, a good price rating of 4 stars, and a comprehensive valuation rating of 3.5 stars. (rating range: 1-5 stars, up to 5 stars)