Xiamen Jihong Technology (002803)
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吉宏股份2024年三季报点评:业绩逐步修复,期待Q4旺季表现
国泰君安· 2024-11-05 12:42
Investment Rating - The investment rating for the company is "Accumulate" [2][19]. Core Views - The company is expected to gradually recover its performance, with a focus on enhancing its core competitiveness through a proposed H-share listing. The Q4 performance is anticipated to improve due to seasonal factors [8]. - Revenue for the first three quarters was 3.9 billion yuan, down 21%, with a net profit attributable to shareholders of 135 million yuan, down 58%. The Q3 revenue was 1.44 billion yuan, down 19.2%, and net profit was 62 million yuan, down 52.5%, which was below expectations [8]. - The forecast for EPS for 2024-2026 has been revised down to 0.59, 0.80, and 1.05 yuan respectively, reflecting a growth rate of 34%, 45%, and 31% [8][13]. Financial Summary - The company reported a total revenue of 5.376 billion yuan in 2022, with a projected revenue of 5.711 billion yuan for 2024, representing a decrease of 14.7% [10]. - The net profit attributable to shareholders was 184 million yuan in 2022, with a forecast of 228 million yuan for 2024, indicating a decline of 33.8% [10]. - The company’s cash flow from operating activities was 391 million yuan in 2022, with a projected 399 million yuan for 2024 [10]. Market Position and Growth Potential - The company ranks second in the B2C export e-commerce market in China, with a market share of 2.3%. The Asian social e-commerce market is expected to grow at a CAGR of 21.5% from 2023 to 2028 [9]. - The company is enhancing its technological research and development capabilities and has established strategic partnerships, including with Huawei Cloud, to improve operational efficiency and expand its business boundaries [9]. - The company is focusing on brand building with several product lines, including electric bicycles and pet products, and is developing a SaaS service platform to support cross-border sellers [9].
吉宏股份(002803) - 2024 Q3 - 季度财报
2024-10-30 10:46
Financial Performance - Revenue for Q3 2024 was CNY 1,443,623,845.90, a decrease of 19.19% compared to the same period last year[2] - Net profit attributable to shareholders for Q3 2024 was CNY 62,310,258.58, down 52.53% year-over-year[2] - Basic earnings per share for Q3 2024 was CNY 0.17, a decrease of 51.43% year-over-year[2] - Total operating revenue for Q3 2024 was CNY 3,897,087,378.79, a decrease of 20.9% compared to CNY 4,930,619,888.50 in the same period last year[15] - Net profit for Q3 2024 was CNY 131,613,267.86, a decline of 56.9% compared to CNY 304,973,699.51 in Q3 2023[16] - Total comprehensive income for Q3 2024 was CNY 131,102,425.78, compared to CNY 308,573,585.90 in the same period last year, reflecting a decrease of 57.5%[17] Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date period was CNY 165,609,436.07, a decline of 43.11% compared to the previous year[2] - Operating cash flow for the period was ¥165,609,436.07, a decrease of 43.2% compared to ¥291,127,485.25 in the previous period[18] - Total cash inflow from operating activities was ¥3,709,510,250.12, down 19.7% from ¥4,618,762,247.34 year-over-year[18] - Cash outflow from operating activities totaled ¥3,543,900,814.05, a decrease of 18.1% compared to ¥4,327,634,762.09 in the previous period[18] - The company's cash flow from operating activities showed a decline, impacting liquidity and future investment capabilities[16] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,248,239,058.62, down 9.43% from the end of the previous year[2] - Current assets decreased from CNY 2,255,701,910.34 to CNY 1,889,795,293.86, a reduction of about 16.2%[13] - Cash and cash equivalents dropped from CNY 1,103,500,070.24 to CNY 742,938,534.74, representing a decrease of approximately 32.7%[13] - Total liabilities decreased to CNY 1,020,293,126.66 in Q3 2024 from CNY 1,273,722,435.45 in Q3 2023, reflecting a reduction of 20%[16] - The company's total equity as of Q3 2024 was CNY 2,227,945,931.96, down from CNY 2,312,853,676.94 in the previous year, indicating a decrease of 3.7%[16] Shareholder Information - The total number of common shareholders at the end of the reporting period is 41,000, with the largest shareholder, Zhuang Hao, holding 18.09% of shares, equating to 69,623,082 shares[9] - Zhuang Shu, the second-largest shareholder, owns 9.01% of shares, totaling 34,671,025 shares, with 8,600,000 shares pledged[9] - The largest shareholder, Zhuang Hao, has 17,405,770 unrestricted shares, while Zhuang Shu has 8,667,756 unrestricted shares[9] - The company reported a total of 25,360,073 shares held by Hong Kong Central Clearing Limited, representing 6.59% of the total shares[9] - The company has disclosed the status of pledged shares, with Zhuang Hao and Zhuang Shu having a total of 38,550,000 shares pledged[9] Corporate Actions and Governance - The company has initiated a share repurchase program, with multiple announcements regarding the progress of the repurchase from January to August 2024[10] - The company is in the process of issuing H shares and has submitted applications to the Hong Kong Stock Exchange, with several related announcements made from January to August 2024[10] - The company has increased the total amount of funds allocated for share repurchase, as disclosed in announcements throughout 2024[10] - The company has made significant changes to its corporate governance, including increasing board members and revising the company’s articles of association[10] Operational Efficiency - Sales expenses decreased by 27.22% year-over-year, attributed to reduced advertising expenses corresponding to lower revenue[6] - Total operating costs for Q3 2024 were CNY 3,754,598,851.44, down 17.6% from CNY 4,566,029,288.20 year-over-year[16] - Research and development expenses for Q3 2024 were CNY 95,940,868.72, slightly down from CNY 102,606,130.14 in Q3 2023[16] - The company reported a significant increase in financial costs, with interest expenses rising to CNY 9,203,073.55 from CNY 10,426,354.46 year-over-year[16] Market Strategy - The company is focusing on new product development and market expansion strategies to enhance future growth prospects[11] - The company plans to adjust its capital structure and explore potential mergers and acquisitions to strengthen its market position[11] - The company is actively expanding its market presence through the issuance of H shares and ongoing share repurchase activities[10]
吉宏股份:公司信息更新报告:2024H1跨境社交电商承压明显,包装业务相对稳健
开源证券· 2024-08-18 03:00
商贸零售/互联网电商 公 司 研 究 吉宏股份(002803.SZ) 2024 年 08 月 18 日 2024H1 跨境社交电商承压明显,包装业务相对稳健 ——公司信息更新报告 投资评级:买入(维持) 黄泽鹏(分析师) 杨柏炜(分析师) huangzepeng@kysec.cn 证书编号:S0790519110001 yangbowei@kysec.cn 证书编号:S0790524050001 | --- | --- | |-------------------------|------------| | 日期 | 2024/8/16 | | 当前股价 ( 元 ) | 10.40 | | 一年最高最低 ( 元 ) | 24.98/9.60 | | 总市值 ( 亿元 ) | 40.02 | | 流通市值 ( 亿元 ) | 29.82 | | 总股本 ( 亿股 ) | 3.85 | | 流通股本 ( 亿股 ) | 2.87 | | 近 3 个月换手率 (%) | 122.21 | 事件:2024Q2 营收同比下滑 36.1%,归母净利润同比下滑 75.2% 公司发布半年报:2024H1 实现营收 24.53 亿 ...
吉宏股份(002803) - 2024 Q2 - 季度财报
2024-08-16 10:05
厦门吉宏科技股份有限公司 2024 年半年度报告全文 厦门吉宏科技股份有限公司 2024 年半年度报告 二零二四年八月 1 厦门吉宏科技股份有限公司 2024 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 的真实、准确、完整,不存在虚假记载、误导性陈述或者重大遗漏,并承担 个别和连带的法律责任。 公司负责人庄浩、主管会计工作负责人吴明贵及会计机构负责人(会计主 管人员)林洪玉声明:保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 本半年度报告如涉及未来计划及经营目标等前瞻性陈述,不构成公司对投 资者的实质承诺,投资者及相关人士均应当对此保持足够的风险认识,并且 应当理解计划、预测与承诺之间的差异。 公司在本报告第三节"管理层讨论与分析"中"十 公司面临的风险和应 对措施"部分,描述了公司经营中可能面对的主要风险,敬请广大投资者注 意查阅。 公司计划不派发现金红利,不送红股,不以公积金转增股本。 2 厦门吉宏科技股份有限公司 2024 年半年度报告全文 目录 | --- | --- | --- | | ...
吉宏股份(002803) - 2024 Q2 - 季度业绩预告
2024-07-09 11:34
证券代码:002803 证券简称:吉宏股份 公告编号:2024-055 厦门吉宏科技股份有限公司 2024 年半年度业绩预告 本公司及全体董事保证本公告内容真实、准确和完整,没有虚假记载、误导 性陈述或者重大遗漏。 一、本期业绩预计情况 1、业绩预告期间:2024年1月1日—2024年6月30日 2、业绩预告情况:同向下降 1、受整体经济环境影响,公司包装业务下游客户销售增速放缓、包装需求 减弱,且由于原纸材料价格下降,产品销售价格相应下调,营业收入规模有所降 低; 2、由于跨境电商业务市场竞争加剧,公司采取降低客单价等方式应对并作 战略调整,对部分汇率波动较大的销售地区如日本、韩国等适度控制广告投放规 模,业务订单和营收规模下降,同时进一步加大对品牌建设与销售区域开拓方面 的投入,成本费用增加影响利润; 3、其他影响利润事项:第三期员工持股计划和2023年限制性股票激励计划 产生的股份支付摊销及投资部分参股公司产生的亏损。 四、其他相关说明 本次业绩预告是公司财务部门初步测算的结果,未经注册会计师审计,具体 财务数据请以公司披露的2024年半年度报告为准。敬请广大投资者谨慎决策,注 意投资风险。 | 项目 ...
24Q1跨境电商业务承压,打造自有品牌值得期待
长城证券· 2024-05-09 00:02
证券研究报告 | 公司动态点评 2024 年 04 月 26 日 事件:公司发布 2024 年一季报,2024 年 Q1,公司实现营收 13.24 亿元,同 比降低 3.75%,实现归母净利润 0.43 亿元,同比降低 39.22%。 风险提示:汇率波动风险,AI 等新技术落地不及预期,政策落地不及预期, 海外经济波动的风险。 执业证书编号:S1070520030002 邮箱:caihang@cgws.com 公司动态点评 | --- | --- | --- | --- | --- | --- | |----------------------------|-------|-------|-------|-------|-------| | 主要财务比率 | | | | | | | | 2022A | 2023A | 2024E | 2025E | 2026E | | 成长能力 | | | | | | | 营业收入(%) | 3.8 | 24.5 | 20.6 | 19.5 | 18.5 | | 营业利润( %) | -13.7 | 80.2 | 25.4 | 24.6 | 21.5 | | 归属母公司净利润 ...
2024年一季报点评:跨境电商业务承压,盈利水平短期受限
民生证券· 2024-04-29 03:00
吉宏股份(002803.SZ)2024 年一季报点评 跨境电商业务承压,盈利水平短期受限 2024 年 04 月 29 日 7 [盈利预测与财务指标 Table_Forcast] ➢ 业绩简述: 1Q24 实现收入 13.24 亿元/yoy-3.75%,环比-24.92%,归母 净利润 0.43 亿元/yoy-39.22%,环比+75.54%,扣非归母净利润 0.38 亿元/yoy- 41.04%,环比+52.52%。 ➢ 包装业务发展稳健,跨境电商业务承压。分业务看,1)包装业务营收同比 增长,盈利能力修复,预计维持稳健发展。公司的主要客户群体包括食品、餐饮、 饮料、日用品及快消品行业的龙头企业,2022 年公司在中国纸制快消品销售包 装市场份额为 1.1%。目前公司在全国建设 10 个大型包装印刷生产基地,旗下包 装印刷生产基地及产品已通过多个专业认证资格,拥有完整的质量检测体系。2) 跨境电商业务营收同比下滑,短期盈利不及预期。①品牌:公司凭借多年积累的 营销数据和技术优势,孵化自有品牌,目前公司已打造品牌包括 SENADA BIKES、 Veimia、Konciwa 及 PETTENA 等,产品涵盖电 ...
公司信息更新报告:一季度跨境电商业务承压,期待品牌和新市场拓展
开源证券· 2024-04-28 00:32
一季度跨境电商业务承压,期待品牌和新市场拓展 吉宏股份(002803.SZ) ——公司信息更新报告 黄泽鹏(分析师) 杨柏炜(联系人) huangzepeng@kysec.cn 证书编号:S0790519110001 yangbowei@kysec.cn 证书编号:S0790122040052 一季度包装业务营收同比增长,跨境电商业务营收同比下滑 分业务看,包装业务营收实现同比增长,但跨境电商业务营收同比下滑,预计主 要系公司发力品牌业务、拓展新市场导致短期业务增长承压;此外,我们预计广 告延续收缩战略、SaaS 业务仍未实现盈利。盈利能力方面,2024Q1 公司毛利率 为 40.6%(-5.0pct)、净利率 3.0%(-1.9pct),综合盈利能力有所下滑。费用方面, 2024Q1 销售费用率为 30.3%(-2.3pct),预计系重营销的跨境电商业务占比下滑 所致;管理费用率为 4.4%(+0.8pct)、研发费用率 2.2%(-0.2pct);此外一季度 股份支付摊销 1085 万元(同比增加 616 万元)。 风险提示:电商行业竞争加剧、目标市场政策变化、新业务拓展不及预期等。 股价走势图 商贸零售 ...
吉宏股份(002803) - 2024 Q1 - 季度财报
2024-04-26 10:25
厦门吉宏科技股份有限公司 2024 年第一季度报告 证券代码:002803 证券简称:吉宏股份 公告编号:2024-037 厦门吉宏科技股份有限公司 2024 年第一季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整,没有虚假记载、误导性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整,不存在虚假记载、误导性陈述或重 大遗漏,并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明:保证季度报告中财务信息的真实、准确、 完整。 3.第一季度报告是否经审计 □是 否 1 厦门吉宏科技股份有限公司 2024 年第一季度报告 一、主要财务数据 (一) 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | | | | (%) | | 营业收入(元) | 1,324,458,336.45 | 1,376,008,156.67 | -3.75% | | 归属于上市 ...
盈利能力持续验证,AI电商优势持续强化
长城证券· 2024-04-01 16:00
吉宏股份(002803.SZ) | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------------|-------|-------|-------|-------|--------|------------------------------------------|----------| | 财务指标 | 2022A | 2023A | 2024E | 2025E | 2026E | 买入(维持评级) | | | 营业收入(百万元) | 5,376 | 6,695 | 8,074 | 9,646 | 11,434 | 股票信息 | | | 增长率 yoy ( % ) | 3.8 | 24.5 | 20.6 | 19.5 | 18.5 | | | | 归母净利润(百万元) | 184 | 345 | 437 | 537 | 648 | 行业 | 商贸零售 | | 增长率 yoy ( % ) | -19.1 | 87.6 | 26.6 | 22.9 | 20.7 | 2024 年 3 月 ...