Qikun Technology (6731), a major manufacturer and sales of golf club shafts, announced that its annual consolidated revenue in 2022 will be 1.485 billion yuan, its after-tax net profit will be 280 million yuan, and its after-tax earnings per share will be 6.68 yuan, all hitting record highs.

(taken from Qikun official)

[Reporter Yang Yamin/Report from Taipei] Qikun Technology (6731), a major manufacturer and sales of golf shafts, announced that its consolidated revenue for 2022 will be 1.485 billion yuan, after-tax net profit will be 280 million yuan, and the after-tax profit per share will be 6.68 yuan, respectively. Compared with 2021, the growth rate is 37.50%, 336.18% and 336.60%, all hitting record high performances.

Qikun's board of directors simultaneously approved the 2022 earnings distribution plan, which will distribute cash dividends of 2 yuan and stock dividends of 3 yuan, with a distribution rate of 74.85%. Based on Qikun's closing reference price of 39.3 yuan yesterday, the cash yield rate will reach 5.09%.

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Qikun said that last year's revenue and profit hit a record high, mainly because the golf population grew significantly during the epidemic, the demand for customized and lightweight clubs increased significantly, and orders from European and American customers increased significantly. The company, as the world's No. The two major professional golf club manufacturers continue to benefit from this business opportunity.

As the demand for customer orders continues to grow, the company is leading the industry in expanding production capacity. The third production line has entered the ranks of mass production since the second quarter of last year. The total shipments in 2022 will hit a record high of 9 million pieces, of which the company's own brand "KBS "Professional-grade clubs accounted for more than 60% of the annual shipments, pushing up the annual gross profit margin to 53.43%, 10.28 percentage points higher than the gross profit margin in 2021.

Qikun said that since 2007, the company started to expand its own brand golf equipment market, and recruited KIM BRALY, a well-known designer in the American golf industry, to join the management team to design and manufacture player-level high-efficiency golf clubs. With its own brand "KBS", Marketing in major golf markets such as the United States and Japan.

Over the years, we have continued to participate in major tours in Europe and the United States, understand the needs of players at close range, and design and manufacture customized golf clubs according to the player's size and swing speed. Currently, KBS has a market share of professional-grade golf irons in the world. Reached more than 30%, second only to True Temper, an American sporting goods manufacturer.

Looking forward to 2023, Qikun holds a cautious and positive attitude, mainly because the population of golf players has increased after the epidemic, driving the demand for golf clubs. At the same time, international brand customers continue to control and reduce inventory.

The company grasps the two major advantages of product cost performance and shipment volume, and expects to continue to increase the market share of its own brand of professional golf shafts, driving the company's overall operations to gradually increase.

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