CEM(SZ:002980)2022-11-17 14:34Company Overview - Shenzhen Huashengchang Technology Industry Co., Ltd. has been deeply engaged in the instrument and measurement testing industry since its establishment in 1991, with extensive experience in product research and development [1] - The company specializes in core measurement technologies across various sectors, including electricity, electronics, environmental monitoring, medical, construction, automotive, and IoT [1] Financial Performance - In 2021, the company achieved a revenue of CNY 740.05 million, with a net profit of CNY 148.88 million, marking a year-on-year increase of 31.91% for non-epidemic products and a 46.64% increase compared to the same period in 2019 [2] - Overall revenue grew by 58.96% compared to 2019, and net profit increased by 63.68% [2] - The average gross margin for products was 40.25%, with a net profit margin of 20.12%, indicating strong profitability [2] Product Segmentation - Electrical and Power Products: Generated CNY 339.20 million in revenue, accounting for 45.84% of total revenue, with a growth of 23.82% from 2020 [2] - Environmental Detection Products: Achieved CNY 248.41 million in revenue, representing 33.57% of total revenue; infrared thermal imaging products saw over 200% growth compared to 2019 [2] - Medical, Construction, and Automotive Products: Contributed CNY 74.26 million, making up 10.03% of total revenue, with a 38.21% increase compared to 2020 [3] Technological Innovation - The company emphasizes R&D and has obtained 264 domestic and international patents, along with 17 software copyrights as of December 31, 2021 [3] - It focuses on smart, portable, and highly integrated measurement instruments, continuously enhancing its technological capabilities [3] Future Development Strategy - Expansion into Medical Diagnostics: The company is entering the IVD (in vitro diagnostics) market, leveraging its infrared temperature measurement technology to develop molecular diagnostic platforms and COVID-19 antigen testing kits [4] - Sensor Module Development: Plans to enhance sensor module applications based on 30 years of measurement technology experience, aiming to improve product offerings and reduce cost risks [4] - Smart Wearable Devices: The company is developing smart wearables that integrate measurement technologies for personal health management, with a focus on consumer electronics [5][6] Market Opportunities - The domestic market share for measurement instruments is increasing due to the push for domestic substitution policies, with the company's domestic revenue share reaching 10.02% in 2021, a 116.26% increase from 2019 [7] - The company aims to capitalize on the growing demand for domestic products and expand its market presence [7]