Regarding the growth of performance in the first half of the year, Frantec said: "During the reporting period, the company expanded in various fields such as rail transit and new infrastructure related to water conservancy construction, and the company's orders in hand continued to rise. During the reporting period, the subsidiary Guodian signed a crane procurement contract with Shaanxi Dongzhuang Water Control Project Construction Co., Ltd., with an amount exceeding 654.38 billion yuan. "
High-quality assets help improve performance.
As an important tool for countercyclical adjustment, infrastructure investment has always been an important starting point for "steady growth". Frantec said that after the epidemic eased, large-scale infrastructure investment was carried out in various places, and countercyclical adjustment measures effectively stimulated the demand for construction machinery and stimulated the domestic construction machinery industry to achieve strong rebound growth. Since March 2020, the sales of excavators, as the "wind vane" of downstream infrastructure projects, have achieved rapid growth year-on-year, with a cumulative year-on-year increase of 24.2% in the first half of the year, indicating that the stable investment policy is taking effect and the amount of new projects started downstream has increased significantly.
Judging from the operating performance of Frantec, the company's operating scale and profitability have maintained sustained growth. The data shows that in 20 16, 20 17, 20 18 and 20 19 years, the company's revenue was 54 10/00000 yuan, 637 million yuan, 764 million yuan and/kloc respectively. The net profit was 56.9387 million yuan, 63.865438+0.92 million yuan, 65.9267 million yuan and 65.438+0.03 billion yuan respectively.
In terms of extension, since its listing, Frantec has actively used the capital market platform to acquire 75% equity of Voith Crane, an Austrian special crane company, and Guodian Dali, which specializes in cable cranes for water conservancy and hydropower. The financial consolidation was realized in February 20 18 and September 20 19 respectively. At present, the integration of the two subsidiaries is developing smoothly.
In 20 19, Voith Drive achieved a revenue of 285 million yuan, a net profit of 38.68 million yuan, and a profit rate of 13.6%. In the first half of 2020, the "cash cow" driven by Voith continued to appear, achieving revenue of 6.5438+0.34 million yuan and net profit of 6.5438+0.3999 million yuan.
While its main business is growing strongly, Frantec has never stopped making progress in product innovation and research and development. During the reporting period, the company's R&D expenses reached 22,544,600 yuan, a year-on-year increase of 79.40%. By the end of the reporting period, the company and its subsidiaries at all levels had a total of 248 patents, including 25 invention patents, 2 utility models12, and1design.
Fan Yimin, an analyst at Guohai Securities, said: "During the reporting period, Frantec strengthened cost control, and the sales expenses in the first half of the year fell to 27 million yuan, down17.7% year-on-year; The company's contractual liabilities (accounts receivable) reached 640 million yuan, a substantial increase of 65.9% over the previous year's 385 million yuan, indicating that its orders are abundant. "
Accelerated layout of aerial work platform
The issuance of convertible bonds will accelerate the pace of market layout of aerial work platforms. On 265,438+0, Frantec also announced the listing announcement of A-share convertible corporate bonds. The listing time of this convertible corporate bond is August 25th, 2020. The total amount of funds raised this time is RMB 330 million, which is mainly used for intelligent aerial work platform projects and supplementary working capital.
In the first half of this year, Fulun Technology continued to promote the R&D and production of intelligent aerial work platform, and achieved small batch production and delivery, which received initial good feedback from the market.
According to statistics of Frentech, the global market size of aerial work platform is about 80 billion yuan, and the number of climbing vehicles in China in 20 19 is about160,000, which is in a high-speed growth stage. Compared with more than 600,000 aerial work platforms in the United States and more than 280,000 aerial work platforms in Europe, aerial work platforms in China are far from saturated and still in the growth stage. It is predicted that the domestic aerial work platform market will still be in a rapid development stage in the future.
Based on the sustainable development trend of this industry and its advantages in manufacturing, design and industrial customer accumulation, Frantec entered this field last year and adhered to the competitive strategy of "differentiation". Frantec said: "At present, the development of a full range of scissor forklifts has been completed, and a small number of domestic and foreign sales have been formed. It is expected that the development of some arm trucks will be completed this year. "
(Editor Qiao Chuanchuan)