About Jiangsu Xingrong High Tech Co., Ltd
Jiangsu Xingrong High Tech Co., Lt , whose general manager is Gao Jiquan, was founded on November 17th, 1998. The main business of the company is the R & D, production and sales of copper pipe processing equipment, copper pipe for mineral insulated cable, copper aluminum composite pipe and rail transit UN wheeling repair equipment.
Copper pipe processing equipment adopts direct selling mode and is sold under its own brand. The UN wheeling repair equipment of rail transit vehicles is mainly cooperated by the company and CRRC Qingdao Sifang Co., Ltd. CRRC Qingdao Sifang is responsible for market development and product design, and the company is responsible for the manufacturing of the mechanical part of the UN wheeling repair equipment.
Copper aluminum processing products adopt direct selling mode and are sold under their own brands. The pricing method of cathode copper price and agreed processing fee is adopted. Copper aluminum composite pipes are mainly provided to refrigeration appliance manufacturers. The pricing strategy of cathode copper (aluminum) price and agreed processing fee is adopted, and cash is required. There was no significant change in the company's business model during the reporting period, after the reporting period to the disclosure date of the report.
The revenue of copper pipe processing equipment and copper aluminum composite Pavilion in this period contributed greatly
In terms of project categories, the total revenue of the company's copper pipe processing equipment was 165 million yuan, with an increase of 24.86% over the same period of last year, and the gross profit margin was 10.56%, with an increase of 5.8% over the same period of last year. The revenue of aluminum pipe and copper aluminum composite pipe was 68 million yuan, with a year-on-year increase of 102.81%, and the gross profit margin was 16.75, with an increase of 3.13% compared with last year.
Remarkable achievements in overseas market expansion
The company's domestic revenue in 2021 was 150 million, with a slight year-on-year decrease of 9.28% year-on-year. The foreign revenue was 97 million yuan and the gross profit margin was 37.60%. It increased by 10.32% over the previous year. Thanks to the development of overseas business, the performance has increased significantly.
Analysis of copper aluminum market and company strategy
The copper price fluctuated in 2021, which does not rule out the risk of occupation of working capital, the risk of fluctuation of income and gross profit margin and the risk of fluctuation of reserve inventory value caused by the continuous rise of copper price in the future. the company’s countermeasuresstrictly abide by the prudent policy on raw material procurement, eliminate speculation and reduce the risk caused by raw material price fluctuation. are hat they will
With the intensifying risks in the Industry competition, using aluminum instead of copper may become a way out. The company's copper tube processing equipment is mainly used for the production of precision copper tubes for air conditioning, refrigerator and other refrigeration industries. Aluminum tubes and copper aluminum composite tubes are also mainly used in automobile, air conditioning and refrigeration industries (in which copper tubes have been partially replaced).
In recent years, affected by the insufficient demand of the international and domestic market, the copper pipe processing fee shows a downward trend, and the industry competition is at risk of further intensification. The company has long focused on the production and operation in the field of copper processing. After more than ten years of accumulation, the company has obvious advantages in copper pipe processing technology and complete sets of equipment, so it is in a more favorable position in the competition. The company will further strengthen research and development, accelerate product renewal and iteration, reduce production costs and strengthen the competitiveness of products.
