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Analysis on the Development of Die Casting Die Enterprises
In 2011, the company realized its main business income of 1288.361 million yuan, an increase of 44.1% over the same period last year, and realized its net profit of 88.336 million yuan belonging to shareholders of listed companies, an increase of 3.56% over the same period last year. Sales of automotive and communications products continued to maintain a high growth, with sales revenue increasing by 50.52% and 72.44% respectively compared with the same period last year. This is mainly due to the company's increasing investment in production technology reform in recent years, strengthening internal management efforts, so that production capacity, production efficiency and product quality can be improved simultaneously. At the same time, the company has increased marketing efforts and market development efforts, and sales continue to be guaranteed. In a good situation, product orders increased and revenue increased accordingly. Although income has a larger growth rate, but there is a slowdown in profit growth, the growth rate can not be synchronized with income.
Recently, the annual report of Guangdong Hongtu Science and Technology Co., Ltd. was released. The net profit attributable to shareholders of listed companies was 88.336 million yuan, an increase of 3.56% over the same period last year. This is mainly due to the following factors:
During the reporting period, the company continued to pursue the business model of "taking automobile precision die castings as the leading products and international brand automobile manufacturers as the main customers", which made the company's business maintain a steady growth, especially for the export business of international brand automobile manufacturers, which continued to develop rapidly. However, with the expansion of export sales, the cost of product packaging and delivery as well as the cost of product delivery were increased. Exchange rate losses accordingly increased substantially. The total export volume of this year was 499.48 million yuan, an increase of 65% over the previous year, accounting for 40% of the main business income. This made the impact of RMB appreciation on the company more obvious and the loss increased.
The fluctuation frequency of domestic raw material-aluminium alloy ingot price is still relatively high, especially in the third quarter, which has reached the high level in recent years. The annual average purchase price has increased by 8% compared with last year. Although the fluctuation risk of aluminium alloy ingot price can be transferred by adjusting the product price, the fluctuation of aluminium alloy ingot price and product price has a certain lag in time and is changing. There are also some differences in the range of movement; at the same time, the annual price reduction of mass-produced products is fulfilled in order to obtain orders for new products from important customers; in addition, the rising processing costs, especially the rising labor costs, are squeezed by the above three items, which bring greater cost pressure to the company, resulting in a decline in gross profit.
In order to speed up the investment progress of wholly-owned holding subsidiary company and make the project put into operation at an early date, the expenditure during the preparation period will inevitably affect the company's overall performance, mainly (1) the company reserves the corresponding managers and technical workers during the reporting period, but it takes time for the project to reach its production. During this period, it is impossible to avoid the idleness of the corresponding human resources reserve, which will make the company idle. The rise of labor costs; (2) the daily expenses of subsidiary companies during the start-up period and the cost of capital generated by raising investment capital increase; make the overall cost of the company rise, affecting profits.
Last year, thanks to the preferential tax policy of the state, the company enjoyed the preferential tax policy of "technology transformation of domestic equipment investment to offset enterprise income tax", which reduced the cost of income tax, while this year's preferential tax reduced, and the income tax fee increased significantly year on year, affecting net profit.
2011 is the beginning of the 12th Five-Year Plan, and also a year of extremely complex economic situation. The international environment is changing, and many new situations and problems have arisen in the domestic economic operation. Luo Baihui, Secretary-General of the International Model Association, pointed out that due to the serious overdraft of domestic automobile market demand in the past two years, the macroeconomic recession in 2011, high inflation and other factors, the domestic automobile market sales only slightly increased. The earthquake in Japan has greatly affected the sales of Japanese automobile companies, which is unfavorable to the company's sales in 2011. However, the Japanese earthquake has greatly affected the sales of Japanese automobile companies in the United States, which in turn has increased the sales growth of American automobile companies, which is good for the sales of die and mould enterprises. Moreover, due to the fact that the die and mould enterprises have received more updating items from some customers in the previous year, the sales in 2011 are still rising considerably. Looking forward to the future, from the domestic situation, automobile ownership is low, per capita disposable income increases, and the urbanization process continues to advance. It is expected that the growth rate of automobile sales will pick up slightly in 2012, which will be helpful to the growth of domestic customer sales of automobile mould enterprises.
The RMB exchange rate rose by 5.1% in 2011. The large appreciation of RMB exchange rate has a great impact on the export business of die and mould enterprises. In the future, the RMB will continue to appreciate, which will weaken the competitiveness of export products to a certain extent. In the future, die and mould enterprises should continue to carry out foreign exchange hedging business, actively develop new products to avoid exchange rate risks, and increase the development of domestic customers to reduce the impact of RMB appreciation on company performance.
Aluminum prices fluctuated considerably in 2011, which is also an important factor affecting the performance of die casting die enterprises. In the future, aluminium die-casting die enterprises should strengthen communication with customers, adjust product prices in time with the fluctuation of aluminium prices, and reduce losses.
In 2011, Guangdong Hongtu Science and Technology Co., Ltd. steadily promoted the implementation progress of fund-raising investment projects in line with the sustained and steady operating principle. While continuously expanding the domestic and foreign markets and expanding the sales scale of products, it strengthened the internal management of the company, continuously promoted the implementation of Lean Six Sigma project, and carried out the cost assessment of the workshop, etc. A series of measures were taken to increase R&D investment and accumulate more money. Extremely improve and improve the technological level and dig
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