The company said that there were three main reasons for the substantial increase in performance during the reporting period: first, it continued to maintain and expand its market share in traditional advantaged industries such as petrochemical and chemical industries, and steadily improved its operating performance; Second, the market expansion in metallurgy, food and medicine, new energy and other industries has achieved remarkable results, and revenue and profit have achieved considerable growth; Third, the management reform continues to advance, the reform effect continues to appear, and the expense rate has improved significantly.

In 2022, the domestic process industry downstream customers have strong demand, increasing attention to quality, cost reduction, efficiency, safety, and low-carbon, digital and intelligent transformation and upgrading are accelerating, the company’s various businesses have achieved rapid growth, and the market share of core products has steadily increased.

The company maintains and enhances strategic focus, proposes the “1·3·5 customer value innovation model”, further promotes the implementation of the new one-stop industrial service model of 5S offline stores +S2B online platform, and further increases R&D investment. Launched a new generation of whole process intelligent operation management and control system (i-OMC) and process industrial Process simulation and design platform (APEX), technology innovation capability and speed continue to improve, products and solutions to further strengthen the competitive advantage.

DS200SDCCG5AHD

The company is in good financial condition for 2022. At the end of the reporting period, the total assets of the Company were 13.135 billion yuan, an increase of 26.95% year-on-year; Owner’s equity attributable to the parent company was RMB5.256 billion, up 16.14% year-on-year; Net asset value per share attributable to owners of the parent company was $10.52, an increase of 15.48% over the same period last year. The company will disclose its 2022 Annual report on April 27.

Guosheng Securities said that the company’s revenue growth slightly exceeded expectations, net profit growth in line with expectations. The revenue end and the profit end increased at the same time, confirming the strong demand of downstream customers in the process industry. Maintain “buy” rating.

Cinda Securities said that the company’s performance exceeded expectations and the competitiveness of its products and solutions continued to improve. In the era of industry 4.0, intelligent manufacturing industry is expected to accelerate the development, the company as a domestic industrial control & intelligent manufacturing leading enterprises, actively promote the “one and two wings” layout, the future “one vertical and one horizontal” development space. Maintain “buy” rating.

China Merchants Securities believes that the company’s performance continues to deliver, the income and withholding profit performance exceeds expectations, and the net profit to the mother excluding the impact of share payments is outstanding, fully benefiting from the high industry prosperity and its own strong competitiveness and execution.

In the medium and long term, the localization of the underlying control system of the process industry is the trend of The Times, and the intelligent manufacturing and digital transformation of enterprises are still in their infancy, the penetration rate is still low, and the overseas market space is broad. At the same time, the company’s own operating efficiency is still improving, and the central control technology has broad room for growth, and the long-term development of the company is optimistic. Maintain the “highly recommended” rating.