/ Aswen News/August 25, 2022 Guangzhou -- The 2022 semi-annual report disclosed by Xiangxin Technology on August 24 evening shows that the company achieved a revenue of 1.71 billion yuan from January to June this year, with a year-on-year growth of 69.36%; The net profit attributable to shareholders of listed companies reached 75.97 million yuan, an increase of 56.41% compared with the same period last year. Among them, the net profit attributable to shareholders of listed companies after withholding non-payment reached 65.99 million yuan, an increase of 93.50% compared with the same period last year. In addition to the substantial growth of revenue and profit, the net cash flow generated by operating activities of the company in the first half of this year also increased by 195.04% year-on-year, indicating the high quality of the company's earnings.
According to the announcement, the main reasons for the substantial growth of Xiangxin Technology's operating performance in the first half of the year are the strong customer demand brought by the rapid development of the new energy industry, and the gradual mass production of the company's new projects. The orders of new energy power battery box, new energy automobile precision stamping die and metal parts, energy storage and photovoltaic inverter precision stamping die and metal structural parts increased significantly, resulting in year-on-year growth of revenue and profit; At the same time, the company's internal management efficiency has also been significantly improved, reducing cost and increasing efficiency further enhanced the company's profitability level.
Analyzing the revenue composition of Xiangxin Technology in the first half of the year, we can also find that the outbreak of new energy-related business is the main reason for the company's performance growth in the first half of the year. According to the semi-annual report, the new energy vehicle precision stamping die and metal structural parts business of Xiangxin Technology achieved a revenue of 954 million yuan in the first half of the year, a year-on-year growth of 193.07%. The proportion of the overall revenue also increased from 32.26% in the same period of last year to 55.82% in this reporting period, which has developed into the company's largest revenue source. Energy storage equipment precision stamping die and metal structural parts business achieved revenue of 230 million yuan in the first half of the year, an increase of 238.07% year on year, revenue proportion increased from 6.74% in the same period of the previous year to 13.45% in the current reporting period.
Obviously, after a substantial growth in the first half of the year, new energy business including new energy vehicles, energy storage, etc. accounted for 69.27% of the overall revenue of Xiangxin Technology, becoming the most important performance component.
Xiangxin Technology said that in the future, the company will continue to seize the market opportunities of the rapid development of new energy industries such as new energy vehicles, power batteries, energy storage and photovoltaic, adhere to technological innovation as the drive, constantly expand the leading edge of precision stamping die technology, precision stamping die as the entry point, Combined with the advantages of mass production, automation and lean production management of metal structural parts, further optimize the company's industrial layout, enrich the company's product types, and promote further business growth.In the past July, the country's new energy vehicles continued to maintain a rapid growth momentum. In July 2022, the production and sales of new energy vehicles were 617,000 and 593,000, respectively, with year-on-year growth of 1.2 times. Looking across the entire January-July period, our country's production and sales of new energy vehicles complete 3.79 million and 3.194 million, respectively, also an increase of 1.2 times year-on-year.
< /p>Nevertheless, new energy vehicles are still one of the industries strongly supported by the state. A recent executive meeting of The State Council decided to extend the new energy vehicle purchase tax exemption policy, which expires at the end of this year, to the end of next year, with an estimated increase of 100 billion yuan. This is the third extension of the tax exemption policy for new energy vehicles, which means the national support for the new energy vehicle industry is still being maintained. As an important participant in the industry chain of new energy vehicles, Xiangxin Technology is expected to continue to benefit in the future.
