On October 20, 2021, Ocean King (002724) announced that: TRP Fang Shu, DymonAsia He Shuai, PAGMark Tang, Harvest Fund Zhao Yu, Xie Zelin, Orient Securities Wang Shujuan, Jiang Zhou, Shanghai Orient Securities Asset Management Li Wei, ICBC Credit Suisse Fund Mother Ya Qian, China Merchants Fund Chang Ning, Everbright Prudential Fund Shao Lin, Wei Xiaoxue, Hengyue Fund Shi Pingchuan, Wang Yuangang, SDIC UBS Fund Sun Wenlong, Caitong Asset Management Kang Yixin, Oriental Alpha Fund Pan Lingzi, Tianhong Fund Zhang Lei, Wanjia Fund Huang Tianyi, Li Liya, Yongying Fund Wang Jiayin, BOCOM Schroder Fund Gao Zhanwei, Yuanxin Yongfeng Fund Wang Ping, Industrial Fund Xu Yuliang, Chinese Insurance Asset Management Tian Lei, Feng Jun, CITIC Prudential Fund Gaoxin, Xingyin Fund Fu Yuyu, Xinchao Capital Fan Chengjie, Zhan Aobo, Changjiang Pension Insurance Wang Jing, China Canada Fund Liu Haibin, Shanghai Mingyu Asset Management Wang Youhong, Shenzhen Wukong Investment Chen Xiangdong, Yiheng Capital Xie Shiqiang, Western Lide Fund Zhang Changping, Zhejiang Qianzhan Investment Shi Weiping, Bolin Investment Li, Zhuhai Hengqin Wanfang Asset Management Li Yiyao, CICC Liu Tengda, Zou Jing, Guosen Securities Huang Daoli, Feng Mengqi on October 18, 2021 to investigate our company, the survey by the rotating president, the company's financial leader, secretary of the board of directors Chen Yan, securities affairs representative Zhu Liyu, investment and customs head Deng Chunyan responsible for the reception.
The main contents of this survey are:
First, the first three quarters of the company's business profile Introduction In the first three quarters, the company through the adjustment of organizational structure, research and development investment in new technologies and new products and other management mechanisms landed, so that the company's organizational vitality has been released and actively match customer changes, and the business performance is as follows:
1. In terms of main indicators, the company achieved a cumulative sales revenue of 1.369 billion yuan in the first three quarters, an increase of 33.03% year-on-year The net profit attributable to the shareholders of the listed company was 219 million yuan, an increase of 49.05% year-on-year. Among them: The sales revenue of Ocean King Ontology was 1.116 billion yuan, an increase of 20.03% year-on-year The net profit attributable to the shareholders of the listed company was 197 million yuan, an increase of 42.25% year-on-year. Ming Zhihui achieved sales revenue of 253 million yuan and net profit attributable to shareholders of listed companies of 0.22 billion yuan. In the first three quarters, the order sales, revenue, payment collection, profit and per capita of Ocean King Itself increased comprehensively, hitting a record high in the third quarter, and the growth rate also hit a record high.
2. In terms of other indicators, the gross profit margin of sales was basically flat, and the sales expense ratio and management expense ratio decreased year-on-year. Looking forward to the fourth quarter, the company will continue to increase its efforts in core business, growth business and emerging business around the 2021 business plan, consolidate the research and development of technologies, products and solutions, improve the organizational operation system, and improve the management level, so as to achieve the company's performance goals and sustainable profit improvement.
2. Interactive communication
1. What is the reason for the rapid increase in the net profit margin of Ocean King In the third quarter? Please also look forward to the fourth quarter. (1) The main reason is the scale effect brought about by revenue growth, the continuous optimization of the corporate governance structure, the shortening of the decision-making chain to the response to the market has become more flexible and rapid, and the organizational vitality has been further released (2) After the accumulation of sales work in the first half of the year, sales orders have been gradually realized in the third quarter (3) The overall operation of subsidiaries and industry divisions is good, employee morale is high, and the fourth quarter will still maintain an upward momentum.
2. In the face of the rise in raw material costs, what is the reason why the company's gross profit margin remains basically stable? (1) The price of some upstream raw materials has increased, and the company has eliminated the impact of rising raw materials through supplier integration management, product design adjustment, process optimization and other improvements. (2) The company has strong R & D capabilities, rapid iteration of new products, through the new product portfolio can reduce the impact of cost fluctuations on gross profit margin to a certain extent. (3) Through the continuous empowerment of the marketing team, the company improves per capita efficiency and service quality, and strengthens the premium ability of products and services. It is expected that the company's gross profit margin will remain relatively stable throughout this year.
3. What is the impact of the national energy consumption dual control and power rationing suspension policy on the needs of customers and the acquisition of orders? The existing policies put forward new requirements for technological upgrading, structural reform and efficiency improvement for the development of the entire industrial enterprise, making the demand for energy saving, efficiency improvement, production safety and other needs of industrial and mining enterprises more urgent Under the guidance of these policies, the demand for high-energy-saving and high-reliability lighting solutions in the industrial lighting environment is developing rapidly. As the ocean king leading the development of industrial environment lighting, we will seize this opportunity, give full play to the advantages of perfect sales network, quick grasp, transformation and meet customer needs, provide customers with professional lighting solutions, and promote customer lighting systems to develop in a more reliable, more energy-saving and environmentally friendly and more intelligent direction.
Ocean King's main business: specializing in the research and development, production, sales and service of special environment lighting equipment
Ocean King's 2021 third quarterly report shows that the company's main revenue was 1.369 billion yuan, up 33.03% year-on-year; net profit attributable to the mother was 219 million yuan, up 49.05% year-on-year; deducted non-net profit of 191 million yuan, up 64.46% year-on-year; among them, in the third quarter of 2021, the company's single-quarter main revenue was 525 million yuan, up 12.37% year-on-year; single-quarter net profit attributable to the mother was 123 million yuan, up 36.88% year-on-year. In the single quarter, the non-net profit was 110 million yuan, up 33.9% year-on-year; the debt ratio was 14.78%, the investment income was 11.904 million yuan, the financial expense was -7.5516 million yuan, and the gross profit margin was 59.59%.
A total of 1 institution and 1 buy rating have been given by the stock in the last 90 days; the Securities Star valuation analysis tool shows that the Ocean King (002724) good company rating is 3.5 stars, the good price rating is 2.5 stars, and the valuation comprehensive rating is 3 stars.
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