The Ministry of Grain and Engineering (301058) issued a notice on January 17, 2022, saying: CITIC Luo Yin Baijun, Kaiyu Capital Yang Songqing and Zhengxin Gu Mao Yifan investigated our company on January 12, 2022.
The main contents of this survey are as follows:Q: what are the main qualifications of the company? What is the impact on the business undertaken by the company?
Answer: our company has a full range of high-grade business qualifications in the grain and oil processing industry, such as the whole grain industry (Class A), engineering design (Class A), mechanical and electrical installation engineering (Class A), equipment supervision (Class B), engineering supervision (Class A), pressure vessels and other business qualifications. Our company can undertake grain, oil and cold chain industries (wheat, rice, oil, corn and feed processing industries, grain logistics industry, agricultural products storage industry, cold chain warehousing logistics and other industries), engineering design consulting, engineering contracting, mechanical and electrical engineering system delivery and complete sets of equipment manufacturing and other business, with strong integrated service capabilities and competitive advantages, to create a solid foundation for the company's business development. The relevant qualification certificates obtained by the company are disclosed in detail in the prospectus.
Q: what is the research and development situation of the company, and how much is the annual investment?
Answer: since the 1960s, the predecessor of Wuxi Engineering, Zhengzhou Scientific Research, Wuhan Scientific Research and Xi'an International under our company, the Ministry of Grain has successively set up scientific research institutes specializing in grain and oil processing, grain storage and logistics technology, feed technology, oil and fat technology, etc. The predecessor of China Merchants International is the domestic Trade Engineering Design and Research Institute established by the Ministry of Commerce in the 1950s, mainly engaged in food cold chain logistics engineering business. These five companies constitute the main body of our company's early business development. Our company has always been guided by the development of the industry and market demand, and constantly improve the ability of R & D and innovation. at present, our company has 4 national technical centers, 4 national laboratories and 6 national testing centers. it has the only national engineering laboratory of grain processing machinery and equipment in the industry, which takes grain engineering equipment as the research content. Since 2003, our company has won 1 first-class national scientific and technological progress prize, 9 second-class prizes, and 62 important national, provincial and ministerial-level and industry-level awards. Since 2016, our company has presided over the formulation and drafting of nearly 100 important industry standards and national standards, and has a top technical voice in the industry. Under the encouragement of the long-term scientific research system, our company has made a number of technological achievements and has a number of independent research and development of innovative technologies and patents. By the end of 2020, Cofco Engineering has obtained 296 patents, including 41 invention patents, these achievements have been actively applied to the new construction, expansion, reconstruction engineering and standardization of grain and oil machinery manufacturing technology in the grain, oil and cold chain professional engineering service industry. At present, Cofco Engineering invests more money in technology research and development every year, in addition, among its subordinate companies, Wuhan Scientific Research, Xi'an International, Zhengzhou Scientific Research, Wuxi Engineering, Zhangjiakou equipment, Nanpi Company, Wuxi equipment, Maosheng equipment and Hunan Yingchun have been identified as high-tech enterprises, and the company's R & D investment has been disclosed in detail in the prospectus.
Q: can you tell us more about the company's current equipment manufacturing business and what products do you have? What is the competitive advantage?
Answer: our company mainly has Wuxi equipment, Zhangjiakou equipment, Nanpi equipment, Maosheng equipment and other grain and oil equipment manufacturing companies. The main products of equipment manufacturing business include grinder, high square sieve, drying equipment, oil pressing equipment, grain seed and logistics equipment, grain cleaning equipment, etc., forming a rich and comprehensive product matrix. It can meet the multiple needs of large, medium and small grain, oil and food processing enterprises and grain logistics and storage enterprises. Among them, Zhangjiakou equipment, which is subordinate to Zhangjiakou equipment, has been engaged in the research and development of flour mill for more than 60 years. The mill technology is in a leading position among domestic manufacturers, and the company's products have been widely used in major flour enterprises. The brand "Bohai", the core product of Nanpi equipment, is widely recognized and has been used in a number of large oil extraction enterprises. The drying equipment of Wuxi equipment has a history of R & D and manufacturing for more than 30 years, and the products have been used in a number of grain and oil processing and storage enterprises.
Cofco Engineering main business: mainly divided into design consulting, mechanical and electrical engineering system delivery and project contracting and other professional engineering services business plate and equipment manufacturing business plate. Among them, the design consulting, mechanical and electrical engineering system delivery and project contracting business plate covers professional engineering service projects in the field of grain, oil and cold chain, while the company also undertakes some civil architecture design business and ice and snow engineering projects extended in the cold chain field. the equipment manufacturing business plate includes the manufacture of grain and oil processing equipment, such as grinder, high square screen, drying equipment, oil pressing equipment and so on.
The third quarterly report of Cofco Engineering 2021 showed that the company's main income was 1.126 billion yuan, down 2.42% from the same period last year; the net profit was 74.523 million yuan, up 90.85% from the same period last year; and the non-net profit was 68.9385 million yuan, up 112.77% from the same period last year. Among them, in the third quarter of 2021, the company's main income in a single quarter was 416 million yuan, up 40.28% from the same period last year; and the net profit in a single quarter was 22.696 million yuan, up 1138.99% from the same period last year. The non-net profit in a single quarter was 22.6456 million yuan, up 684.21% from the same period last year; the debt ratio was 44.88%, the investment income was 487700 yuan, the financial expenses were-9.2403 million yuan, and the gross profit margin was 22.92%.
In the last 90 days, a total of one agency gave a rating and one bought a rating; in the past three months, the net inflow of financing increased by 59.2128 million, while the balance of margin financing increased by 297300. According to the Securities Star valuation analysis tool, Cofco Engineering (301058) has a rating of 3.5 stars, a good price rating of 1 star, and a comprehensive valuation rating of 2 stars. (rating range: 1-5 stars, up to 5 stars)