Wantong Hydraulic disclosed the first semi-annual report of Beijing Stock Exchange: net profit in the first half of the year increased by 86.12

Release time:

2023-07-20

On the evening of July 20, Wantong Hydraulic disclosed the first semi-annual report of Beijing Stock Exchange. The report shows that in the first half of 2023, the company achieved operating income of 0.345 billion yuan, an increase of 63.69 percent over the same period last year, and realized net profit attributable to shareholders of listed companies of 36.1055 billion yuan, an increase of 86.12 percent over the same period last year.

China Securities Network News (Reporter Zhang Pengfei) on the evening of July 20, Wantong Hydraulic disclosed the first semi-annual report of Beijing Stock Exchange. The report shows that in the first half of 2023, the company achieved operating income of 0.345 billion yuan, an increase of 63.69 percent over the same period last year, and realized net profit attributable to shareholders of listed companies of 36.1055 billion yuan, an increase of 86.12 percent over the same period last year.

Wantong Hydraulic is mainly engaged in the research and development, production and sales of hydraulic cylinders. Its products mainly include telescopic cylinders for dump trucks, cylinders for mechanical equipment and hydro-pneumatic suspension cylinders. It has cold drawing process technology, high-pressure combined dynamic sealing technology under wide temperature range, hydro-pneumatic suspension cylinders and electric cylinders. The overall design, production and other technologies, as well as corresponding business qualifications, are a professional supplier of medium and high-pressure cylinders in China, its products are widely used in automobiles, energy mining equipment, construction machinery, military equipment and other fields.

During the reporting period, the company continued to focus on the four main industries of "special purpose vehicles, coal mining machinery, construction machinery, and national defense equipment" in China, and implemented domestic and foreign parallel lines, and new and old products were in full bloom. During the reporting period, operating income increased by 63.69 year-on-year, and the operating income of the three major core products all achieved year-on-year growth.

Among them, in the domestic market, the company firmly grasped the market opportunities of the industry, continuously optimized the production process and resource allocation to increase production capacity, and the operating income of hydraulic cylinders and hydro-pneumatic suspension cylinders for mining equipment doubled year-on-year. In the international market, around the company's strategic layout, we continue to deepen the interaction and cooperation with foreign customers, and the business in Eastern Europe, South America and other regions has increased significantly, driving the continuous growth of overseas revenue.

In terms of innovative research and development, during the reporting period, the company carried out research on research and development projects such as electro-hydraulic integrated intelligent control system, electric steering cylinder and control system, and the research and development expenses increased by 45.22 year-on-year. In addition, the company further deploys new products and technologies such as electric cylinders, compact electric hydrostatic actuators, and mechatronics system integrated manufacturing technology, and introduces more professional and technical personnel such as fluid transmission and control, mechatronics technology, and hydraulic engineering. Many, including a number of professional doctors and masters in the industry, and set up a research and development branch in Xi'an to carry out related technical talent team building and project research and development.

In addition, the company continues to optimize its cost structure while adapting to the needs of the market and operating conditions. During the reporting period, the company's sales expense ratio decreased by 0.14 percentage points year-on-year, the management expense ratio decreased by 1.74 percentage points year-on-year, and the net profit margin increased by 1.26 percentage points year-on-year.

Article from: Zhang Pengfei China Securities Journal-China Securities Network