webbaccarat| Hualan Group: Net profit in 2023 will drop by 63.88% year-on-year, and it is planned to pay 0.13 yuan for 10 shares

CSI Financial Information Hualan Group (301027) disclosed its 2023 annual report on April 24th. In 2023, the company achieved a total revenue of 7Webbaccarat0.1 billion yuan, down 17.08% from the same period last year; net profit from home was 19.7658 million yuan, down 63.88% from the same period last year; non-net profit was 13.8752 million yuan, down 70.34% from the same period last yearWebbaccaratThe net cash flow of Hualan Group was 30.2323 million yuan, compared with-73.8019 million yuan in the same period last year. During the reporting period, Hualan Group earned 0.13 yuan per share, with a weighted average return on net assets of 2.06%. The company's annual profit distribution plan for 2023 is to distribute 0.13 yuan (including tax) to all shareholders for every 10 shares.

Based on the closing price on April 23, Hualan Group's current price-to-earnings ratio (TTM) is about 60.32 times, price-to-book ratio (LF) is about 1.24 times, and price-to-sales ratio (TTM) is about 1.7 times.

The historical quantiles of the company's recent price-to-earnings ratio (TTM), price-to-book ratio (LF) and price-to-sales ratio (TTM) are as follows:

Statistics show that Hualan Group's total revenue has a compound growth rate of-13.74% in the past three years, ranking 29th among the 30 companies in the engineering consulting service Ⅲ industry that have disclosed data in 2023. The compound annual growth rate of net profit in the past three years is-45.40%, ranking 25gam30.

In terms of products, in the company's main business in 2023, engineering design income was 448 million yuan, down 28.53% from the same period last year, accounting for 63.98% of business income; land and space planning income was 113 million yuan, an increase of 17.08% over the same period last year, accounting for 16.18% of business income; engineering consulting income was 56 million yuan, an increase of 63.96% over the same period last year, accounting for 8.02% of business income.

In 2023, the company's gross profit margin was 37.35%, up 1.20 percentage points from the same period last year; the net profit margin was 2.72%, down 3.59 percentage points from the same period last year. According to the single-quarter indicators, the company's gross profit margin in the fourth quarter of 2023 was 40.39%, up 4.51% from the same period last year and 6.80% from the previous quarter; the net profit rate was 9.72%, up 5.65% from the same period last year and 7.82% from the previous quarter.

In terms of products, the gross profit margins of engineering design, land and space planning and engineering consulting in 2023 are 35.16%, 36.41% and 36.95%, respectively.

During the reporting period, the total sales amount of the company's top five customers was 100 million yuan, accounting for 14.22% of the total sales amount, and the total purchase amount of the company's top five suppliers was 85 million yuan, accounting for 25.21% of the total annual purchase.

According to the data, the weighted average return on equity of the company in 2023 was 2.06%, down 3.78 percentage points from the same period last year; the return on invested capital in 2023 was 1.39%, down 2.82 percentage points from the same period last year.

In 2023, the net cash flow of the company's operating activities was 30.2323 million yuan, an increase of 104 million yuan over the same period last year; the net cash flow of fund-raising activities was 95.3557 million yuan, an increase of 164 million yuan over the same period last year; and the net cash flow of investment activities was-244 million yuan, compared with-504.91 million yuan in the same period last year.

Further statistics show that the free cash flow of the company in 2023 is-268 million yuan, compared with-48 million yuan in the same period last year.

In 2023, the cash ratio of the company's operating income is 96.63%, and the net present ratio is 152.95%.

In 2023, the company's period expenses were 137 million yuan, a decrease of 42.8207 million yuan compared with the same period last year, and the period expense rate was 19.49 percent, down 1.73 percent from the same period last year. Among them, sales expenses decreased by 34.53% compared with the same period last year, management expenses decreased by 15.72%, R & D expenses decreased by 47.28%, financial expenses-3.4074 million yuan, and the same period last year-8.6531 million yuan.

In terms of major changes in assets, by the end of 2023, the company's monetary funds had decreased by 26.92% compared with the end of last year, accounting for 13.09% of the company's total assets; fixed assets increased by 199.50% over the end of the previous year, accounting for 3.68% of the company's total assets; accounts receivable increased by 14.52% over the end of last year, accounting for 2.98% of the company's total assets Contract assets decreased by 41.06% compared with the end of last year, accounting for 2.91 percentage points of the company's total assets.

In terms of major changes in liabilities, by the end of 2023, the company's other payables (including interest and dividends) decreased by 38.44% compared with the end of last year, accounting for 3.74% of the company's total assets; long-term loans increased by 410.55% over the end of the previous year, accounting for 2.63% of the company's total assets; short-term loans increased by 50.02% over the end of last year, accounting for 2.24% of the company's total assets Accounts payable increased by 54.56% over the end of last year, accounting for 1.39 percentage points of the company's total assets.

For the whole of 2023, the company's R & D investment was 22.7468 million yuan, down 47.28% from the same period last year; R & D investment accounted for 3.25% of operating income, down 1.86% from the same period last year. In addition, the company's annual R & D investment capitalization rate is 0.

In terms of solvency, the asset-liability ratio of the company at the end of 2023 was 50.08%, up 1.85 percentage points from the end of the previous year; and the interest-bearing asset-liability ratio was 11.80%, up 5.22 percentage points from the end of the previous year.

According to the annual report, among the company's top 10 circulating shareholders at the end of 2023, the new shareholder was BARCLAYS BANK PLC, replacing Penghu at the end of the third quarter. In terms of specific shareholding ratio, the shareholding of Jinyuan Shun'an high-quality selected and flexible allocation hybrid securities investment funds has increased, while that of CITIC Securities Co., Ltd. has declined.

In terms of chip concentration, by the end of 2023, the total number of shareholders of the company was 14600, an increase of 937, or 6.86%, compared with the end of the third quarter; the value of stock market holdings per household decreased to 127100 yuan from 137300 yuan at the end of the third quarter, a decrease of 7.43%.

Indicator Notes:

Price-earnings ratio

= total market capitalization / net profit. When the company loses money, the price-to-earnings ratio is negative, so it is of no practical significance to use the price-to-earnings ratio or the price-to-sales ratio as a reference.

Price to book ratio

= total market capitalization / net assets. The price-to-book ratio valuation method is mostly used for companies whose earnings fluctuate greatly and their net assets are relatively stable.

Market sales ratio

= total market capitalization / operating income. The valuation method of price-to-sales ratio is usually used for growth companies that are losing money or making small profits.

In this paper, the price-to-earnings ratio and price-to-sales ratio are calculated by TTM, that is, based on the 12-month data up to the latest financial report (including forecast). The price-to-book ratio is calculated on the basis of LF, which is based on the latest financial report.

When the price-to-earnings ratio is negative, the current quantile is not displayed, which will lead to the interruption of the line chart.

(article source: China Securities News, China Securities Network)