On October 12, Xiangxin Technology once again hit the daily limit by . In the past two trading days, the company's stock price has hit the daily limit continuously. Since the beginning of this year, the company's stock price has doubled.
On October 11, Xiangxin Technology released its performance forecast, saying that it expects net profit in the first three quarters to increase by more than 1.8 times year-on-year, of which the net profit in the third quarter is expected to increase by more than 11 times year-on-year.
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Stock price has been hitting the daily limit
On October 12, Xiangxin Technology opened high and fluctuated all the way up, rising strongly in the afternoon and hit the daily limit again, finally closing at 54.57 yuan per share, with a turnover of 812 million yuan throughout the day, with a turnover rate of 15.28%, and the latest market value is 9.713 billion yuan. In the past two trading days, the stock has hit the daily limit continuously, with a cumulative increase of more than 20%.
Since the beginning of this year, Xiangxin Technology's stock price has been rising rapidly, and so far, has increased by more than 1.17 times. Especially since the second half of the year, the company's stock price has continued to rise sharply from around 25 yuan, and has risen to 77.81 yuan at one point.
public information shows that Xiangxin Technology's main business includes the research and development, production and sales of precision stamping molds and metal structural parts. The company has established a Guangdong Automobile Large Parts Mold Engineering Technology Research Center and Enterprise Technology Center. It has advanced mold development technology in automotive lightweight forming, which can provide customers in the new energy vehicle industry with lightweight overall solutions.
Net profit in the third quarter is expected to increase by more than 11 times
On October 11, Xiangxin Technology released its performance forecast. The company expects to achieve a net profit of RMB 84 million to RMB 94 million in the third quarter of 2022, a year-on-year increase of 1132.29%-1278.99%; it is expected to achieve a net profit of RMB 160 million to RMB 170 million in the first three quarters, a year-on-year increase of 188.87%-206.92%.
announcement stated that benefiting from the rapid development of the new energy industry and strong customer demand, the company's order volume increased significantly during the reporting period. The new energy power battery box, new energy vehicle precision stamping mold and metal parts, energy storage and photovoltaic inverter precision stamping mold and metal structural parts and other businesses have steadily improved, and the company's operating income has grown steadily year-on-year. In addition, the company has continuously and effectively promoted cost-reduction measures by improving internal management efficiency, which has driven the company's operating performance to achieve significant growth.
CITIC Securities research report released recently pointed out that Xiangxin Technology's net profit in the third quarter of this year is expected to increase beyond expectations. With the release of scale effect, it is expected that the company's high growth momentum of performance is expected to continue, and its profitability is also expected to increase quarter by quarter. When accepting an institution's survey, Xiangxin Technology stated that the company will improve production efficiency and lean production level through technological innovation, continuously improve the company's product competitiveness and profitability, and reduce production costs through large-scale production, and improve the company's capacity utilization and gross profit margin level.
continues to make efforts in the new energy track
On the evening of October 12, the investor relations activity record released by Xiangxin Technology showed that from October 11 to 12, Xiangxin Technology said during a survey of institutional investors such as China-Europe Fund , Zhongrong Fund and China Post Fund that the company's future development strategy is to actively embrace new energy, including new energy vehicles, power batteries, photovoltaic inverters and energy storage industries. The company will continue to increase the value of its products, provide customers with more convenient services, and become a platform-based and integrated supplier.
Xiangxin Technology also stated that as the demand in the energy storage field becomes more and more powerful, the company's current downstream customers have begun to enter the energy storage field. The company will develop products in these customers' energy storage categories, and at the same time it is also developing leading energy storage customers to provide customers with high-quality products and services.
According to the company, in the fields of energy storage and photovoltaic , the company has now supplied photovoltaic inverters, energy storage cabinets and other related products to well-known domestic and foreign companies such as Xinnengan, Enphase Energy, and Larsen.
Editor: Yu Zhe Zhang Jing
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