In 2011 , the company achieved a total operating income of 1.019 billion yuan, an increase of 24.02%; operating profit of 146 million yuan, an increase of 88.51%; net profit attributable to listed company shareholders of 131 million yuan, an increase of 106.85%; achieve diluted earnings per share 0.42 yuan. The company's performance is basically in line with our expectations. During the reporting period, the company's traditional business performance was stable. The business of diamond single crystal materials achieved a revenue of 731 million yuan, an increase of 19.05% year-on-year. The gross profit margin was 32.32%, a slight increase of 0.44 percentage points year-on-year; the super-hard materials products realized operating income of 251.0178 million yuan, a year-on-year decrease of 11.13%, and the gross profit margin was 16.08. %, a decrease of 7.63 percentage points year on year. Due to the small scale of the business of super-hard materials products, it is not the focus of the company's development, and has little impact on the company's performance. Several new products developed by the company have made rapid progress. During the reporting period, super-hard composite products achieved operating income of 73.304 million yuan, an increase of 96.46% over the same period of last year. The gross profit margin was 35.94%, an increase of 11.71 percentage points year-on-year; metal powder realized operating income of 93.64 million yuan, an increase of 63.11% over the same period of last year. 31.22%, an increase of 6.02 percentage points year-on-year; super-hard tool realized operating income of 23,495,200 yuan, an increase of 70.96%, a gross profit margin of 31.51%, a year-on-year decrease of 5.47 percentage points. The gross profit margin of super-hard composite materials and metal powders is increasing rapidly. In the future, with the expansion of production scale and the improvement of the yield rate, there is still room for improvement in the gross profit margin of the above two types of products. As of the end of the reporting period, the company's inventory balance was 482 million yuan, an increase of 31.69% year-on-year. Considering the growth of the company's revenue scale, the growth of inventory is still normal; the advance payment is as high as 420 million yuan, a substantial increase of 154.55% year-on-year. Related to the construction of additional issuance projects; accounts receivable decreased, and notes receivable increased. In general, the company's main financial data is basically normal. The company's 2012, 2013, and 2014 earnings per share are expected to be 0.62 yuan, 0.84 yuan and 1.14 yuan, respectively, corresponding to the closing price of 14.90 yuan on March 27, 2012, the price-earnings ratio is 24, 18 and 13 times, respectively, to maintain recommended for the company. Rating. Risk: The market development of new products has lower-than-expected risks; the short-term stock price rebounds significantly and there is a risk of a correction. BATHTUB&Whirlpool Bathtub Bathtub,free standing tub,free standing bath,free standing bath tubs,stand alone tubs Guangzhou Aijingsi Sanitary Products Co.,Ltd , https://www.hottubdesign.com
Abstract In 2011, the company achieved a total operating income of 1.019 billion yuan, an increase of 24.02%; realized operating profit of 146 million yuan, an increase of 88.51%; realized net profit attributable to shareholders of listed companies of 131 million yuan, an increase of 106.85%;