Core Viewpoint - Hongyuan Co., Ltd. (920018.BJ) has initiated its subscription with an issue price of 9.17 CNY per share and a price-to-earnings ratio of 12.34, focusing on the development, production, and sales of electromagnetic wires, primarily used in high-voltage and large-capacity power transmission equipment [1]. Company Overview - Hongyuan Co., Ltd. specializes in the research, production, and sales of various types of electromagnetic wires, including switch wires, paper-wrapped wires, enamelled wires, and composite wires [1]. - The company's products are mainly applied in large power transmission equipment such as high-voltage transformers, converter transformers, and reactors [1]. - Major clients include significant manufacturers in the power transmission sector, such as Tebian Electric Apparatus, China XD Electric, and Hitachi Energy [1]. Industry Insights - According to the IEA Power Market Report, global electricity demand grew by approximately 2.2% in 2023, with an expected average growth rate of 3.4% annually until 2026 [1]. - From 2012 to 2023, the cumulative capacity of high-voltage transformers (220kV and above) in China increased from 262,365 million kVA to 542,400 million kVA, reflecting a compound annual growth rate of 6.83% [1]. Financial Performance - The company reported revenues of approximately 1.311 billion CNY, 1.461 billion CNY, and 2.072 billion CNY for the years 2022, 2023, and 2024, respectively [2]. - Net profits for the same years were approximately 49.997 million CNY, 64.466 million CNY, and 101.631 million CNY [2]. - The total assets of the company as of December 31, 2024, are projected to be approximately 1.349 billion CNY, with total equity of about 543.338 million CNY [4]. - The company’s gross profit margin for 2023 was reported at 8.54%, with a net profit margin of 4.42% [4].
A股申购 | 宏远股份(920018.BJ)开启申购 产品用于大容量电力变压器等大型输变电设备
智通财经网·2025-08-10 22:27