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Yi Xinda Turns Losses into Profitable Smart Meters in the First Half of the Year
[China Instrument Network Instrument Enterprise] On August 15, Chengdu Xinxinda Technology Co., Ltd., a new third board listed company, issued a semi-annual report. From January to June 2017, the company achieved an operating income of 19.5464 million yuan, an increase of 15.66% year-on-year; and a net profit attributable to the shareholders of the listed company was 270,800 yuan, which achieved profitability and a loss of 1.58 million yuan in the same period of last year. As of the end of June 2017, the total assets of the company's accounts were RMB 936.249 million.
(Image from the Internet, invaded)
Yixinda is a national high-tech enterprise engaged in R&D, production, sales, and service of engineering plastic pipes, composite materials, and smart meter products. The products are mainly used in power, communications, transportation, water conservancy, real estate and other municipal and people's livelihoods. In the field of engineering construction, the scale of production and sales of smart water meters of the company ranks first in the same industry in Sichuan Province and the top ten in the domestic same industry.
In the report period, although the company's operating situation has improved significantly compared with the same period of last year, it is not ideal from the perspective of the completion of the company's semi-annual target. The main reasons are as follows: First, the sales of smart water meters have been higher than the same period of last year. A certain amount of decline is far from the target expected at the beginning of the year. Second, the company's R&D investment in the first half of the year is relatively large. Third, the company's expenses during the reporting period are relatively large.
In the first half of 2017, the company's smart water meter realized an operating income of RMB 461.22 million, a decrease of RMB 541,500 and a decrease of 10.51% over the same period of the previous year of RMB 5,153,700. There is still a big gap between the annual sales revenue of 40 million yuan and the annual smart water meter set by the company at the beginning of the year. With the gradual implementation of the step-by-step pricing system, the mandatory implementation of the “one household and one form†project, the regular rotation of existing mechanical water meters, and the need for water companies to reduce management costs, the proportion of smart water meters in the sales of water meters will become more and more The company expects that the company's smart meter sales revenue will increase significantly in the second half of 2017.
In addition, during the reporting period, the company added 3 R&D projects, of which the research and development of the smart water service platform and the smart well cover platform has completed the sample trial production phase and is expected to be available in small batch production in the second half of 2017. During the reporting period, the company’s R&D expenditures reached 2.5754 million yuan, a net increase of 1.301 million yuan, or 142.41%, from the 1.026 million yuan of the same period of the previous year.
In the first half of this year, the company’s expenses during the period amounted to RMB 8,184,800, which accounted for 41.77% of the operating income, a decrease of RMB 93,200 from RMB 8,241,600 in the same period of the previous year.
It is understood that on June 19, 2017, Sichuan Metropolitan Metrology and Testing Institute established a smart meter verification station at the company. The logo company has the ability to undertake smart meter inspections and qualifications from Chengdu Water Supply Company.
(Original Title: Easy Cinda: Turning losses into profits in the second half of the year is a bright spot for smart meter revenue)