Actblue (300816)2022-12-04 10:44Company Overview - Anhui Aikelan Environmental Protection Co., Ltd. specializes in engine exhaust after-treatment products and air pollution control technologies [1] - The company has developed 12 core technologies, 6 of which are original innovations [2] - Recognized as a high-tech enterprise and a national intellectual property demonstration enterprise [2] Financial Performance - In 2019, the company achieved a revenue of ¥565.98 million, a year-on-year increase of 27.12% [2] - The net profit attributable to shareholders was ¥103.38 million, up 24.72% from the previous year [3] - In Q1 2020, revenue dropped to ¥118.43 million, a decline of 9.11% year-on-year, with net profit at ¥21.77 million, down 24.99% [3] Market Position and Product Development - The company’s SCR products won the Anhui Provincial Science and Technology Progress Award [2] - The company has scaled production of National VI gasoline and diesel engine products, indicating a leading technical level globally [2] - The company maintains good cooperation with research institutions like the Chinese Academy of Sciences [2] Challenges and Responses - The decline in Q1 2020 revenue and profit was primarily due to the COVID-19 pandemic, which delayed operations and affected sales orders [3] - The company is expanding production capacity through new production lines and automation equipment [3] Profitability and Cost Management - Profit margins are influenced by the supply model; providing core components leads to higher margins compared to full system supply [3][4] - The company has improved cost control capabilities, achieving unit cost savings as technology matures [5] Accounts Receivable and Payment Terms - The company typically operates on a monthly settlement model with clients, with payment terms ranging from 30 to 90 days [4]