Optical Communications and Automotive Wiring Harness Business Rebound Yongding's Non-net Profit Doubling in First Quarter
2022-04-28
On the evening of April 27, Yongding shares disclosed the first quarter report of 2022. The company achieved operating income of 0.924 billion yuan, an increase of 11.93 percent over the same period last year. The net profit attributable to the parent was 14.36 million yuan, and the net profit attributable to the parent after deducting non-profit was 13.929 million yuan, an increase of 110.66 percent over the same period last year. The company's performance has improved steadily.
On the evening of April 27, Yongding shares disclosed the first quarter report of 2022. The company achieved operating income of 0.924 billion yuan, an increase of 11.93 percent over the same period last year. The net profit attributable to the parent was 14.36 million yuan, and the net profit attributable to the parent after deducting non-profit was 13.929 million yuan, an increase of 110.66 percent over the same period last year. The company's performance has improved steadily.
Yongding shares said that the growth in the current period was mainly due to the gradual recovery of optical communication business and automotive wiring harness business, while the accelerated progress of overseas projects including Bangladesh power plant and national power grid upgrading project began to release profits.
From the just released Yongding shares 2021 annual report can also be seen, benefiting from the domestic epidemic prevention and control form of improvement, and domestic and foreign epidemics and other uncertainties to reduce the impact of the performance of Yongding shares to turn a profit, its optical communications business and power transmission business are showing a steady growth trend.
In particular, the automotive wiring harness business has made steady progress, new energy automotive wiring harness business has made a major breakthrough, including the addition of Weilai Automobile, Zhiji Automobile, Didi Automobile, Lantu Automobile and other new energy brand customers. A few days ago, Jinting Wire Harness, a subsidiary of Yongding Co., Ltd., also successfully won the bid for the whole vehicle wire harness business of Dongfeng Motor Group M18 project, with sales of about 1.057 billion yuan in the whole life cycle of the project.
With the current construction and development of 5G and gigabit optical networks and the overall acceleration of digital economic projects such as "counting from the east to the west", Yongding's optical communication business sector has also ushered in good opportunities, increasing non-operator and overseas market development efforts in optical fiber and cable, and building a full industrial chain layout from chips to devices to modules to system integration.
In addition, Yongding shares rely on the advantages of wire and cable and overseas power engineering layout, deep plowing "Belt and Road" along the country, overseas engineering projects gradually blossomed. Since 2008, Yongding has contracted nearly US $3 billion in general contracting projects for power transmission, transformation and power stations.
Yongding said that it will continue to promote the high-quality development of the two major industries. The optical communication industry will focus on "new infrastructure" and provide 5G/fixed broadband "double gigabit" network, DCI (data center interconnection) integrated solutions, and data collection and information service solutions. The power transmission industry focuses on "new energy" and focuses on the development of new energy-related businesses such as automotive high-voltage wire harnesses, submarine cables and superconducting power, and maintain the steady progress and sustainable development of overseas projects.
Source: Financial Network
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