Guoxuan High-Tech: An expected net profit of ￥30.50 mln to ￥39.5 mln for 2020 H1, down 91.32% to 88.76%
NBD AI Bulletin -- Guoxuan High-Tech Co., Ltd. (SZ 002074, closing price: 30.82 yuan) released its earnings guidance on July 14, expecting net profit attributable to shareholders of the listed company to be 30.5 million yuan to 39.5 million yuan in the first half of 2020, down 91.32% to 88.76% YoY.
The change in performance was that affected by the COVID-19 outbreak, battery sales are lower than expectations as the demand waned. In addition, during the reporting period, the production and operation of downstream customers resumed slowly, which resulted in a decline in the Company's production orders and shipments; At the same time, greater new production capacities released by domestic battery makers, lower than expected market demand and fierce competition sent the net profit down significantly compared with the same period of last year.
NBD AI Review: Based on forecasts of multiple securities companies, the average net profit of Guoxuan High-Tech Co., Ltd. is expected to be 242 million yuan in the first half of 2020. In comparison, the net profit for the same period of last year is 352 million yuan.
According to the 2019 annual report, Guoxuan High-Tech Co., Ltd. mainly engages in the making of batteries, and power transmission, distribution and control equipment, accounting for 87.14% and 10.08% of its revenue, respectively.
Guoxuan High-Tech Co., Ltd.'s chairman and general manager is Li Wei, male, 56 years old, Chinese national, EMBA of Cheung Kong Graduate School of Business.
(By Tan Yuhan)
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