Hongming, a wire connector manufacturer, had a revenue of 3.908 billion yuan last year and a net profit after tax of 184 million yuan, both hitting record highs.

(The picture is taken from the official website of Hongming)

[Reporter Fang Weijie/Taipei Report] Wire connector manufacturer Hongming (3021) last year had a revenue of 3.908 billion yuan and a net profit of 184 million yuan after tax, both hitting record highs. The operation team pointed out at the conference today that its wire connector business group The proportion of in-vehicle electronic products will be deepened, and the manufacturing base in Southeast Asia will be expanded. The system integration business group will integrate the network and information security fields.

Hongming’s revenue last year was 3.908 billion yuan, an annual increase of 15.85%, operating gross profit of 722 million yuan, an annual increase of 5.9%, operating profit of 293 million yuan, an annual increase of 24.4%, and after-tax net profit of 184 million yuan, an annual increase of 40.89%. Earnings (EPS) are 1.92 yuan, an annual increase of 41.17%, a gross profit margin of 18%, an annual decrease of 2 percentage points, a profit margin of 7%, an annual increase of 1 percentage point, and a net profit rate of 5%, an annual increase of 1 percentage point.

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The operation team pointed out that in order to share the profits and give back to shareholders for a long time, the accumulated cash dividends distributed in the past five years have exceeded 3 yuan, and the long-term cash yield rate is above 3.7%. Based on today's closing price of 21.45 yuan, the cash yield is about 3.2%.

Hung Ming said that at the current stage, the operation continues to be based on the manufacture of electronic components and wire connectors, to the provision of information system integration and consulting services, and also to diversify into multiple industries such as life technology product sales and life style shaping. The connector business last year Revenue increased by 8.3% year-on-year, and system integration performance increased by 28.6% year-on-year. Among the overall revenue, connectors accounted for 59% and system integration accounted for 41%.

Hongming mentioned that in the future, the wire connector business group will expand the market for high value-added products in Europe, America, and Japan, deepen the proportion of automotive electronics products, expand the manufacturing base in Southeast Asia, and enhance industrial competitiveness. The system integration business group aims to increase service revenue and strengthen Customer stickiness is based on long-term and stable income sources.

Looking forward to this year, Hongming’s cumulative revenue in January and February reached 487 million yuan, a year-on-year decrease of 23%. The legal person estimates that the first quarter’s performance will have a double-digit decline, and the second quarter is expected to reverse. The second half of the year is better than the first half , the annual revenue does not rule out the opportunity to be better than the same period last year, and the profit once again hit a record high.

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