Guangdong Oriental Precision's first quarter profit increased by more than 500% year-on-year, and the intelligent manufacturing track ushered in another highlight moment
Recently, Guangdong Oriental Precision (stock code: 002611) released its first quarter 2024 performance forecast. The data showed that the company's net profit increased by more than 500% year-on-year, which attracted widespread attention from the market. This impressive achievement not only reflects the company's own in-depth layout in the field of intelligent manufacturing, but is also closely related to the global wave of industrial automation upgrading. This article will combine hot topics across the network for the past 10 days to structure the driving factors behind the performance outbreak of Oriental Essence Industry.
1. Quick view of core financial data
| index | Q1 2024 | Q1 2023 | Year-on-year growth |
|---|---|---|---|
| Net profit (billion yuan) | 2.5-3.0 | 0.48 | 500%-625% |
| Operating income (billion yuan) | 15.2 | 9.8 | 55% |
| Gross profit margin | 28.5% | 22.3% | +6.2pct |
2. Three driving forces for performance growth
1.Smart packaging equipment orders surge: The company's corrugated packaging production line accounted for 60% overseas orders. Benefiting from the expansion of Southeast Asia's manufacturing capacity, the delivery volume in the first quarter increased by 80% year-on-year.
2.Breakthrough in new energy business: The subsidiary Yum Power entered the field of electric ship power systems, with the first batch of orders reaching 120 million yuan, becoming a new profit growth point.
3.Cost control optimization: Through the industrial Internet platform, production energy consumption will be reduced by 12%, and raw material procurement costs will be reduced by 8%.
3. Industry hot spot correlation analysis
The three major trends hotly discussed on the Internet in the past 10 days are highly consistent with the performance of Oriental Essence Industry:
| Hot Topics | Relevance | Typical Events |
|---|---|---|
| Made in China 2025 accelerates | ★★★★★ | The Ministry of Industry and Information Technology has added 23 new intelligent manufacturing demonstration factories |
| ESG investment boom | ★★★★ | Global ESG fund size exceeds US$8 trillion |
| Southeast Asia Industrial Transfer | ★★★★★ | Vietnam's foreign investment attraction increased by 42% year-on-year in Q1 |
4. Institutional opinion and risk warning
CICC's latest research report pointed out: "Oriental Precision isHigh-end equipment + new energyDriven by dual-wheel drive, the PE valuation in 2024 is only 12 times, lower than the industry average. "But attention is needed:
1. Risk of overseas trade barriers (the United States imposes tariffs on Chinese paper packaging equipment)
2. The number of accounts receivable turnover days increased to 98 days (industry average of 65 days)
5. Future Outlook
The company plans to invest 500 million yuan to build a digital factory in Foshan, and its production capacity is expected to increase by 40% in 2025. In conjunction with the recent issuance of the State Council’s "Plan for Promoting Large-scale Equipment Updates", the intelligent manufacturing track is expected to continue to receive policy dividends. Oriental Jing Work is the leader in the sub-sectors, and its high performance growth trend may continue.
(Note: The data in this article is as of April 25, 2024, and will be combined with Oriental Precision announcements, Tonghuashun iFinD and public media reports)
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