wewin55| Gao Xinxing: Loss of 103 million yuan in 2023

Gao Xinxing (300098) released its 2023 annual report on April 13. In 2023, the company achieved total revenue of 17.Wewin55.99 billion yuan, down 22.89% from the same period last year; net profit loss of 103 million yuan, compared with 273 million yuan in the same period last year; deducting non-net profit loss of 119 million yuan, loss of 300 million yuan in the same period last year; operating activities generatedWewin55The net cash flow was 178 million yuan, an increase of 183.65% over the same period last year. During the reporting period, Gao Xinxing's basic earnings per share was-0.06 yuan, and the weighted average return on net assets was-3.51%.

Based on the closing price on April 12, Gaoxing's current price-to-earnings ratio (TTM) is about-54.7 times, price-to-book ratio (LF) is about 1.98 times, and price-to-sales ratio (TTM) is about 3.14 times.

The historical quantiles of the company's recent price-to-earnings ratio (TTM), price-to-book ratio (LF) and price-to-sales ratio (TTM) are as follows:

Statistics show that Gaoxing's total revenue has a compound growth rate of-8.21% in the past three years, ranking 40th among the 43 companies in the vertical application industry that have disclosed data for 2023. In the past three years, net profit grew at a compound annual growth rate of 23.99%, ranking 6x43.

From a product point of view, in the company's main business in 2023, the income from Internet of things connections, terminals and applications was 1.103 billion yuan, down 20.46% from the same period last year, accounting for 61.34% of the business income; the revenue from software systems and solutions was 529 million yuan, down 28.07% from the same period last year, accounting for 29.40% of the business income; and the revenue from police terminals and police information applications was 167 million yuan, down 20.87% from the same period last year, accounting for 9.27% of the business income.

In 2023, the company's gross profit margin was 31.52%, up 5.29 percentage points from the same period last year; the net profit margin was-6.06%, up 5.94 percentage points from the same period last year. According to the single-quarter indicators, the company's gross profit margin in the fourth quarter of 2023 was 31.66%, up 6.57% from the same period last year, down 2.53% from the previous quarter; and the net profit rate was-6.43%, up 23.71% from the same period last year and down 1.85% from the previous quarter.

In terms of products, the gross profit margins of Internet of things connections and terminals, applications, software systems and solutions, police terminals and police information applications in 2023 are 37.12%, 15.04% and 46.69%, respectively.

During the reporting period, the total sales amount of the company's top five customers was 555 million yuan, accounting for 30.86% of the total sales amount, and the total purchase amount of the company's top five suppliers was 172 million yuan, accounting for 13.59% of the total annual purchase.

According to the data, the weighted average return on equity of the company in 2023 was-3.51%, an increase of 4.92 percentage points over the same period last year, and the return on invested capital in 2023 was-3.99%, an increase of 2.90 percentage points over the same period last year.

In 2023, the net cash flow of the company's operating activities was 178 million yuan, an increase of 183.65% over the same period last year; the net cash flow of fund-raising activities was 196 million yuan, an increase of 292 million yuan over the same period last year; and the net cash flow of investment activities was-342 million yuan, compared with-45.5689 million yuan in the same period last year.

Further statistics show that the free cash flow of the company in 2023 is-572 million yuan, compared with-137 million yuan in the same period last year.

In 2023, the cash ratio of the company's operating income is 143.50%, and the net present ratio is-172.85%.

In terms of operating capacity, in 2023, the company's total asset turnover rate was 0.34 times, compared with 0.42 times in the same period last year (the industry average in 2022 was 0.44 times, and the company ranked in the same industry 56 times 103); the fixed assets turnover rate was 8.79 times, compared with 10.69 times in the same period last year (the industry average in 2022 was 12.57 times, and the company ranked 45Universe 103 in the same industry). The turnover rate of accounts receivable and inventory is 1.12 times and 2.80 times respectively.

In 2023, the company's period expenses were 637 million yuan, a decrease of 141 million yuan compared with the same period last year, but the period expense rate was 35.43%, an increase of 2.06% over the same period last year. Among them, sales expenses decreased by 26.24% compared with the same period last year, management expenses decreased by 10.94%, R & D expenses decreased by 11.24%, and financial expenses changed from-26.882 million yuan to-30.9546 million yuan in the same period last year.

In terms of major changes in assets, by the end of 2023, the company's construction projects had increased by 198.70% over the end of last year, accounting for 5.16% of the company's total assets; long-term receivables decreased by 31.54% compared with the end of last year, accounting for 5.07% of the company's total assets; monetary funds decreased by 20.34% compared with the end of last year, accounting for 1.99% of the company's total assets. The financing of receivables decreased by 59.17% compared with the end of last year, accounting for 1.64 percentage points of the company's total assets.

In terms of major changes in liabilities, by the end of 2023, the company's long-term payables increased by 219.01% over the end of the previous year, accounting for 3.20% of the company's total assets; accounts payable decreased by 16.70% compared with the end of last year, accounting for 2.76% of the company's total assets; notes payable decreased by 49.17% compared with the end of last year, accounting for 1.77% of the company's total assets Contract liabilities decreased by 38.54% compared with the end of last year, accounting for 0.90 percentage points of the company's total assets.

From the perspective of inventory changes, by the end of 2023, the book value of the company's inventory was 398 million yuan, accounting for 13.92% of the net assets, a decrease of 84.7256 million yuan compared with the end of last year. Among them, the provision for the price decline of inventory is 86.5852 million yuan, with a provision proportion of 17.87%.

For the whole of 2023, the company's R & D investment was 273 million yuan, down 11.24% from the same period last year; R & D investment accounted for 15.20% of operating income, up 1.99% from the same period last year. In addition, the company's annual R & D investment capitalization rate is 0.

In terms of solvency, the asset-liability ratio of the company at the end of 2023 was 41.39%, up 0.66 percentage points from the end of the previous year; and the interest-bearing asset-liability ratio was 3.73%, down 0.12 percentage points from the end of the previous year.

In 2023, the current ratio of the company is 1.89 and the quick ratio is 1.66.

According to the annual report, among the company's top 10 circulating shareholders at the end of 2023, the new shareholder was Lou Jun, replacing Zhang Xiaoyan at the end of the third quarter. In terms of specific shareholding ratio, the shareholdings of Shenzhen Zhaoyin Telecom Equity Investment Fund Management Co., Ltd.-Shenzhen Zhaoyin Telecom New trend Equity Investment Fund Partnership (limited partnership), Fu Tianyao, Wang Jian, Hong Kong Securities Clearing Co., Ltd., and Chen Shaohua have declined.

In terms of chip concentration, by the end of 2023, the total number of shareholders in the company was 83800, an increase of 12400, or 17.38%, compared with the end of the third quarter; the value of stock market holdings per household decreased to 84200 yuan from 89900 yuan at the end of the third quarter, a decrease of 6.34%.

Indicator Notes:

Price-earnings ratio

= total market capitalization / net profit. When the company loses money, the price-to-earnings ratio is negative, so it is of no practical significance to use the price-to-earnings ratio or the price-to-sales ratio as a reference.

Price to book ratio

= total market capitalization / net assets. The price-to-book ratio valuation method is mostly used for companies whose earnings fluctuate greatly and their net assets are relatively stable.

Market sales ratio

= total market capitalization / operating income. The valuation method of price-to-sales ratio is usually used for growth companies that are losing money or making small profits.

The price-earnings ratio and price-to-sales ratio are TTM, which is calculated based on the data of the latest financial report (including forecast) for 12 months. The market-to-book ratio adopts LF mode, that is, calculated based on the latest financial report data.

When P/E ratio is negative, the current quantile is not displayed, resulting in broken line chart.

(Source: China Securities News·China Securities Network)

Tags:

Prev: slotomaniafreecoinsdailybonuses|制定仓库投资策略时的参考指南
Next: cryptonftgames|江苏宁沪高速公路(00177.HK)拟成立锡太公司 负责锡太项目投资建设和运营管理