Kangping Technology (300907) issued an announcement on September 10, 2021, saying: pan Bozhong, the medium Gung Foundation, conducted a survey of our company on September 9, 2021, which was received by Director, General Manager Jiang Yingdong, Director, Chief Financial Officer and Secretary of the Board of Directors Dou Qiangbin.
The main contents of this survey are as follows:1. The management of the company answers the relevant questions of the researchers:
1. Q: how to cooperate between the company and Black & Decker? How do the two sides set the price? A: the company partnered with Baxter a long time ago, initially supplying motor accessories, and then switching to motor supply. There is a pricing and price adjustment mechanism between the two sides based on raw material prices, exchange rate fluctuations and other factors.
2. Q: what is the impact of raw material price fluctuations on the company's net profit? A: it is true that the price of raw materials has fluctuated greatly since the beginning of this year, but based on the price adjustment mechanism with major customers, the company has carried out several rounds of price adjustment this year, but the impact of price adjustment on net profit is lagging behind to a certain extent. It is expected to improve in the second half of the year.
3. Q: are there any differences in the mode of cooperation and pricing mechanism between the company, Black & Decker and TTI? A: there is basically not much difference.
4. Q: is the company's product mainly OEM? Are the company's motor products mainly fixed models? A: some of the company's products are OEM, which are produced based on the customer's design, and some of the products are ODM, including motors and machines. The company's motor products include AC brush, DC brush and DC brushless, based on this classification will produce motor products of different sizes.
Q: what is the current proportion of AC and DC motors in the company? A: at present, the number of DC motors in the company accounts for about 55%, and sales account for about 30%.
6. Q: what is the reason why the company's sales growth has been relatively large since the beginning of this year, while the company's sales growth has been slow in the past few years? A: the company is limited by factors such as production capacity before IPO, and its sales growth is relatively slow. Since the beginning of this year, the company has seen a large increase in sales. On the one hand, the company is the largest motor supplier to Black & Decker and TTI, and the increase in orders from Black & Decker and TTI has led to the growth in sales; on the other hand, the company's Vietnam subsidiary has seen greater sales growth.
Q: the company is the largest supplier of motors to Batek and TTI. Will they be worried that most motors are purchased from China? A: no, our motor products are very advantageous in terms of quality and price, and we have enjoyed our cooperation for such a long time.
8. Q: how is the progress of the company's fundraising project? A: based on overseas sales and railway planning, part of the original IPO fundraising project is transferred to Vietnam and part of the plan is transferred to Huizhou.
9. Q: how much capacity is expected to be reached by the company next year? A: the company and its subsidiaries will continue to expand their production scale next year, and it is expected that the output value corresponding to the production capacity by the end of next year will reach about 2 billion yuan.
10. Q: is the company's overseas sales model mainly FOB? Does transportation cost have a great impact on the company's profits? A: it is mainly based on the FOB mode, and other models will also be used, mainly depending on the geographical location of the customer's production base. The impact of transportation costs on the company's profits is within a controllable range, with little impact.
Q: what are the company's future plans for other motor applications? A: the company will continue to dig deep into the field of electric tools and motors in the future, and will actively expand into the field of household appliances and auto parts motors.
Kangping science and technology main business: motor, power tools, mold research and development, production; sales of the company's own products; engaged in the wholesale and import and export of similar products produced by the enterprise (the above commodities do not involve state trade, involving license management, special regulations management in accordance with the relevant provisions of the state). (for projects that must be approved according to law, business activities can only be carried out with the approval of relevant departments.) General projects: manufacturing of household appliances; sales of household appliances; sales of spare parts of household appliances; research and development of household appliances; non-residential real estate leasing (except for projects that need to be approved according to law, independently carry out business activities on the basis of business license)
According to the 2021 report of Kangping Science and Technology, the company's main income was 634 million yuan, up 95.0% from the same period last year; the net profit from the home was 28.4918 million yuan, up 8.33% from the same period last year; deducting 24.8434 million yuan from non-net profit, up 1.01% from the same period last year; debt ratio 38.16%, investment income 2.0858 million yuan, financial expenses 3.838 million yuan, gross profit 10.35%.