The first quarterly report of Han’s CNC (301200) was released.On the evening of April 20, Han’s CNC disclosed its first quarterly report for 2022. During the reporting period, the company achieved operating income of 925 million yuan, a year-on-year increase of 33.18%; net profit of 183 million yuan, a year-on-year increase of 94.01%; basic earnings per share of 0.48 yuan.
Han’s CNC said that the revenue growth was mainly due to the continuous improvement of the company’s product market recognition, the company’s continued improvement of product layout, and the expansion of sales revenue; the net profit growth was mainly due to the substantial increase in revenue during the reporting period and the realization of economies of scale, which led to the attributable to listing. Shareholders of the company’s net profit grew more than revenue.
In February this year, Han’s CNC officially landed on the GEM of Shenzhen Stock Exchange. Han’s CNC was established in 2002. In the past 20 years, Han’s CNC has always focused on the PCB special equipment industry, starting with the drilling process, the core process of PCB production, constantly breaking through key technical bottlenecks, and has successively completed the layout of key processes such as drilling, exposure, molding, and testing.
Thanks to the competitive product matrix, Han’s CNC has accumulated rich customer resources. It is reported that up to now, Han’s CNC has covered 89 of the 2019 NTI Global Top 100 PCB Companies and 95 of the CPCA 2019 China Comprehensive PCB Top 100 List.
Han’s CNC disclosed its first annual report after its listing earlier, showing that in 2021, the operating income will be 4.081 billion yuan, a year-on-year increase of 84.62%; the net profit will be 699 million yuan, a year-on-year increase of 130.21%; the non-net profit will be 677 million yuan, a year-on-year increase of 128.19%.
Zhongtai Securities pointed out that Han’s CNC’s performance growth last year was mainly due to the upgrade of 5G communication network and the development of big data. In 2021, emerging applications such as communication equipment, data centers, new energy vehicles, and consumer electronics will develop rapidly, driving the rapid growth of demand in the PCB industry. At the same time, in 2021, all products of Han’s CNC will usher in high growth across the board. The engine volume of drilling equipment and laser direct imaging equipment will reach a new high, and the new market share will continue to maintain a leading position.
Continuing the growth momentum of last year, the performance of Han’s CNC has steadily improved in the first quarter of this year.
Market participants pointed out that with the rapid development of the terminal electronic information industry chain, the demand for high value-added PCB industry continues to rise. In 2000, the proportion of mid-to-high-end products was only 22.1%, and by 2025, the relevant proportion is expected to reach 52.48%. The demand for mid-to-high-end products such as HDI boards, high-rise boards and flexible boards, which represent higher technical content, is increasing.
Zhongtai Securities pointed out that Han’s CNC product matrix is complete, and the product layout continues to expand horizontally. After years of development, the company’s current products have covered the four major processes of drilling, exposure, forming and testing. With a competitive product matrix and rich sales experience, it has accumulated rich customer resources. At present, in the application field of the company’s products, multi-layer boards still occupy a major share. On the basis of deeply cultivating the leading advantages of multi-layer boards, the company will vertically extend the application of products in HDI, FPC and IC packaging substrates, and is optimistic about the company’s continued growth potential in the future.