Far East Shares: Revenue, Net Profit and R&D Investment for 2022 All Record High

Author:系统管理员 Published: 2023-04-28 Hits:

  As reported by Securities Times, on April 17, Far East Shares (600869.SH) released its annual report for 2022. The report shows that in 2022, the revenue of Far East Shares reached RMB 21.680 billion, up by 3.87% year on year, the net profit attributable to equity RMB 552 million, up by 3.98% year on year, and the net profit excluding extraordinary profit and loss RMB 419 million, up by 32.20% year on year. All of the three data reached record high. In 2022, the expense ratio was 9.80%, down by 1.03% year on year, which marks the continuous improvement in operation efficiency, and the research investment has also increased by 25.38%, helping the Company to maintain its leading position in the industry.

  The intelligent cable network business has witnessed steady growth. In 2022, the Company maintained its leading position in the cable industry and continued to achieve breakthroughs. The revenue for 2022 reached RMB 19.692 billion, up by 8.71% year on year, and net profit RMB 866 million, up by 29.76% year on year. In 2022, the Company took the leading position in extra-high voltage wire, wind power cable, photovoltaic cable, nuclear cable, and charging pile cable segment markets in terms of the market share, winning/contracting over-10-million orders of RMB 22.731 billion for this year, up by 25.99% year on year. The Company has also continued to expand the industrial base and promoted the construction of major projects such as the Far East High-end Offshore Engineering and Cable Industrial Base, Far East Yibin Intelligent Industrial Base, Far East Communication's optical rods and optical fiber, and Far East Cable's Yixing Base for Digital Intelligence and Reform.

  The lithium energy storage business is accelerating. In 2022, in order to further match the development of overseas household energy storage business and order delivery, the Company transformed and upgraded the battery production line. Although the business of copper foil for lithium ion batteries was not fully consolidated, which had some impact on the performance, but during the reporting period, the Company has achieved breakthrough in energy storage and created a product matrix to meet the application in various scenarios, which has marked the realization of progress in comprehensive layout from the single electronic chip business to energy storage system. Overall, the Company gained household energy storage orders from overseas countries of more than RMB 1 billion in total. Currently, it is accelerating the implementation of "Integrate Cables with Storage" strategy to push forward the development of the industry and commerce and the expansion of power generation side energy storage market. In terms of copper foil for lithium ion batteries, the Company has actively progressed the construction of the project for high-precision copper foil for lithium ion batteries of the Far East Yibin Intelligent Industrial Park.

  The smart airport business remains stable. In 2022, BOA achieved operating revenue of RMB 1.434 billion and net profit of RMB 109 million. The number of bids won for this year continued to remain the first in the industry. The value for accepted bids reached RMB 2.123 billion. Also, the EPC general contracting business has achieved important breakthrough, winning a project for Shaanxi Fugu Airport of RMB 564 million. It is reported that BOA has set up a research and development center, and it is carrying out research and development of special equipment for the airport and dedicated system in accordance with the development concept for the construction of airports of "four types" by Civil Aviation Administration of China. Series of products will soon be put into the market, and new starting point for business will be opened up.

  In 2023, Far East Shares plans to achieve revenue of around RMB 28 billion and net profit of around RMB 1 billion. The Company said it will continue to carry forward the spirit of practical work, and it will uphold fundamental principles and break new ground to contribute its power to the construction of a strong manufacturing country and digital China.

Group affiliate website

Group affiliate website

Interactive Zone

Sweeping attention

苏ICP备09099908号-4 ? Copyright 2013-2015 Far East Holding Group co.,LTD. www.miitbeian.gov.cn