Р.&T Half-Yearly Report: Net Profit Increased By 40.8%. Revenue Of Smart Toilets And Covers Increased By 21.65%

Р.&T Half-Yearly Report: Net Profit Increased By 40.8%. Revenue Of Smart Toilets And Covers Increased By 21.65%

In the evening of August 24, Xiamen Р.&Т. Sanitary Technology Co., Ltd. released its semi-annual report for 2022. The report shows that R&T achieved revenue of RMB901 million in the first half of 2022, зголемување на 12.11% година во година. Net profit attributable to shareholders of the listed company was 83,424,400 Јуан, зголемување на 40.8% година во година. Меѓу нив, intelligent toilet and cover products achieved revenue of RMB 411 милион, зголемување на 21.65% година во година.

Smart toilet and cover products achieved revenue of 411 милион

Година во година раст на 21.65%

Во првата половина на 2022, Р.&T’s smart toilets and covers business continued to grow strongly. The revenue achieved was RMB 411 милион, зголемување на 21.65% година во година. The business accounted for 45.64% of the company’s total operating revenue.

Покрај тоа, the financial report shows that R&T specializes in the research and development, production and sales of intelligent sanitary products subsidiary – Xiamen a little intelligent technology Co. Во 2022, the operating income in the first half of the year reached 275 Милион јуани, and the operating profit reached 14.48 Милион јуани.

Во последните години, Р.&T has continued to increase its investment in intelligent sanitary ware. As early as 2020, Р.&T terminated the “Yangming Road bathroom accessories production base renovation and expansion project” and implemented the “annual production capacity of 1.2 million sets of intelligent bathroom products production base construction project” by the company’s wholly-owned subsidiary, Xiamen One Point Intelligent Technology Co. As of the end of the period, the cumulative investment of the project has reached 83.67 Милион јуани, and the progress of the project is 16.97%. It is expected that R&T’s revenue in the intelligent sanitary ware segment will continue to increase after the project is completed and put into operation.

Unit: Јуан

In addition to intelligent sanitary ware, Р.&T’s main products also include water tanks and accessories products, as well as the same layer drainage system products. Во првата половина на 2022, the water tanks and accessories business achieved revenue of $368 милион. This represented a 0.07% year-over-year decrease and accounted for 40.9% of the company’s total revenue. The revenue achieved by the business related to homogeneous drainage system products was $79,943,500, зголемување на 19.55% година во година.

Р.&T conducts both domestic and offshore businesses. Во првата половина на 2022, the revenues of the two businesses were NT$596 million and NT$305 million, сметководство за 66.17% и 33.83%, соодветно. Both of them increased by more than 10%.

Net profit increased by 40.8% година во година

Gross profit margin of the main business increased compared with the previous year

In terms of earnings, in the first half of 2022 Р.&T achieved an increase in profit and revenue, with net profit attributable to shareholders of the listed company reaching 83,424,400 Јуан, зголемување на 40.8% година во година. The net profit attributable to shareholders of the listed company after non-recurring gains and losses was RMB 75,930,200, зголемување на 52.26% година во година, which was a significant increase.

In terms of gross margin, in the first half of 2022, it achieved an increase in the gross margin of its main business, достигнување 25.29%, горе 2.08% from the same period of the previous year. Меѓу нив, the gross profit margin of water tank and accessories business increased by 2.7% compared with the previous year. The smart toilet and cover business had the largest increase, достигнување 4.58%.

Unit: Јуан

Во првата половина на 2022, a number of R&T’s expenses changed significantly. Меѓу нив, finance costs amounted to -25.27 милион, намалување на 812.8% compared to the previous year, mainly due to the impact of exchange rate changes. Income tax expense reached RMB 13,292,100, зголемување на 124.66% година во година. This was mainly due to the increase in profit. Its R&D expenses amounted to RMB35,581,400, зголемување на 55.75% година во година, due to the increased investment in R&D of home products. It is worth mentioning that in May this year, Р.&T added 1 new foreign investment in an enterprise named Xiamen Shui Ai Intelligent Home Co. The investment is 20 Милион јуани, and its main business is the manufacture, Истражување и развој, and sales of household products, санитарна опрема, итн.

Unit: Јуан

Покрај тоа, Р.&T revealed that the company is well known in the industry in the water-saving flushing components segment, including ROCA, INAX, Колер, Американски стандард, Стрела, Bolina and other well-known domestic and foreign manufacturers of medium and high-end sanitary ware brands have established good and stable cooperative relationships with the company.

Р.&T’s performance in the first half of 2022 was bright. In terms of revenue, although the 12.1% increase is not too big, it is particularly rare in the context of the rebound of the epidemic and the downward spiral of the property market. За разлика, many domestic counterparts saw a decline in revenue in the first half of the year. Some companies even decreased by more than 10%. At the earnings level, Р.&T’s first-half net profit has recovered and exceeded the level of the same period in 2019 before the epidemic, and the increase has continued to expand. This reflects good corporate profitability.

На август 25, a securities company gave R&T a “купи” rating, for the following reasons: Прво, the intelligent toilet performance is beautiful. On-hand orders are sufficient. Второ, Q2’s profitability improved significantly, and good control of expenses. Очигледно, this is also the capital market’s objective evaluation of R&T’s performance in the first half of the year.