On the evening of July 7, Mingyang Intelligent (601615) disclosed a preliminary increase in performance for the first half of 2022. The net profit attributable to the parent company in the first half of the year is expected to be 2.2 billion yuan to 2.53 billion yuan, an increase of 1.156 billion yuan to 1.489 billion yuan over the same period last year. , a year-on-year increase of 111.25%-142.94%; net profit after non-profit is expected to be 2.15 billion to 2.48 billion yuan, a year-on-year increase of 110.10% to 142.34%.
Regarding the reasons for the rapid growth in performance in the first half of the year, Mingyang Intelligent announced that the wind power industry as a whole will maintain a steady development trend in the first half of 2022. The company's operating income has increased due to the increase in orders on hand and the company's wind turbine delivery scale; at the same time, the company The scale and income from power plant project transfers increased compared with the same period last year.
Mingyang Smart
Mingyang Smart Energy Group Co., Ltd. (stock abbreviation: Mingyang Smart, stock code: 601615) was established in 2006 and is headquartered in Zhongshan, Guangdong, China. It was formerly known as Guangdong Mingyang Wind Power Industry Group Co., Ltd. . Committed to building a supplier of clean energy full life cycle value chain management and system solutions. It ranks 18th among the top 500 global new energy companies in 2021, and ranks first in the global offshore wind power innovation ranking. It has developed into a smart energy enterprise group with important global influence.
The wind power field is booming.
Mingyang Intelligent's rapid take-off performance also reflects the high boom in the entire wind power field to a certain extent. Forecast data from the Global Wind Energy Council GWEC shows that by 2026, China's annual newly installed wind power capacity will exceed 60GW, of which onshore wind power will exceed 50GW and offshore wind power will exceed 10GW.
On June 1 this year, Mingyang Intelligent’s MySE12MW semi-direct-drive offshore unit officially rolled off the production line, becoming the world’s largest typhoon-resistant semi-direct-drive offshore unit. On June 3, the State Power Investment Corporation Shenquan II offshore wind power project was the first wind power project in China to start construction with a single unit capacity of more than 10 MW. It successfully completed the hoisting of its first wind turbine. The project adopted Mingyang Intelligent’s new generation offshore wind power large-megawatt model. The hoisting was successfully completed. According to reports, the wind turbine successfully installed this time is also the offshore wind turbine with the highest hub center elevation in domestic mass production.
Mingyang Intelligent development prospects
1, high value, low risk
Mingyang Intelligent risk value matrix diagram
Data source Moxiang APP
From the risk value matrix provided by Moxiang APP, Mingyang Intelligent is in a high value and low risk area. Enterprises in this area have high investment value.
2, strong growth ability
Mingyang Intelligent Operating Income Trend Chart
Data source Moxiang APP
The total operating income in the first quarter of 2022 was 7.126 billion, more than 93% of the companies, ranking 1/20 in the industry; the average operating income growth rate in the past 4 years is 54.31 %, with the highest growth rate in 2020 being 114.02%, and the lowest growth rate in 2021 being 20.93%, showing a downward trend. The net profit reported in the first quarter of 2022 was 1.408 billion, more than 96% of the companies, ranking 1/20 in the industry; the average net profit growth rate in the past four years was 54.63%, the highest growth rate in 2021 was 125.69%, and the lowest growth rate in 2018 was 0.00%. Upward trend.
3, low valuation risk
Mingyang Intelligent P/E trend chart
data source Moxiang APP
2022 first quarter report P/E ratio (TTM) 14.06, lower than 88% of companies, industry ranking 1/20; the average P/E ratio (TTM) in the past 3 years is 25.33 , the highest in 2020 is 31.45, and the lowest in 2021 is 19.62, showing a downward trend.
Summary: Mingyang Intelligent has independent R&D, design and manufacturing capabilities in core components such as blades, frequency converters, pitch control systems, and electrical control systems. At the same time, by promoting vertical integration of the supply chain, we can export key component technologies to suppliers and integrate their production capabilities into deep binding or self-supporting production capabilities. The market prospects are good and investment is possible.
(Disclaimer: The above information is for reference only and does not constitute investment advice. Investors operate at their own risk)
