Inventronics, Ming Microelectronics 2020 Performance Forecast Released

- Jan 26, 2021-

Inventronics, Ming Microelectronics 2020 performance forecast released 


Inventronics' 2020 net profit increases by 40%-60% 


Inventronics expects to achieve net profit attributable to shareholders of listed companies in 2020 from 148,614,200 yuan to 169,844,800 yuan, an increase of 40%-60% over the same period of last year of 106.153 million yuan. 


According to the announcement, Inventronics has actively adjusted its business strategy when its production and operation activities are affected by the epidemic, strengthened domestic and foreign market expansion, new business and key customer development, and released the accumulation of past business projects. 


Among them, the operating income of the LED drive power business under the pressure of the epidemic has increased compared with the same period last year. The company's new energy vehicle charging facilities related business market has expanded smoothly, and its operating income has increased significantly over the same period last year.


In addition, thanks to the development of new products and emerging application markets, the proportion of sales revenue of the company's products with higher gross profit margins has increased, and the utilization rate of production capacity has continued to increase at the same time. 


Inventronics stated that the company has continued to optimize its internal management system, strictly control various costs, and improve the cost-effectiveness ratio of expenses, which has achieved more significant results. 


During the reporting period, the company successfully put into production two overseas factories in Asia-Pacific India and North America and Mexico, which realized capacity backup for the subsequent further global development layout and business development, and further improved customer confidence and stickiness. 


In addition, the company makes reasonable investments and obtains certain investment income. It is estimated that the impact of non-recurring gains and losses on the company's net profit is approximately RMB 25.47 million, mainly due to government subsidies and investment income received. 


Ming Microelectronics' 2020 net profit is expected to increase by 31.71% 


Ming Microelectronics expects to achieve operating income of RMB 515,764,300 in 2020, an increase of 11.42% over the same period of the previous year, and net profit attributable to owners of the parent company of RMB 106,322,700, an increase of 31.71% over the same period of the previous year. 


According to the announcement, Ming Microelectronics' operating profit in 2020 increased by 31.30% year-on-year, total profit increased by 31.38% year-on-year, and net profit attributable to owners of the parent company increased by 31.71% year-on-year, deducting non-recurring gains and losses attributable to owners of the parent company Net profit increased by 34.61% year-on-year, and basic earnings per share increased by 31.72% year-on-year. 


The increase or decrease of the above-mentioned related items reached more than 30%, mainly due to the gradual recovery of the integrated circuit industry in the second half of the year and strong market demand. The overall gross profit margin has increased, which has driven the company’s steady growth in its annual operating income and operating profit. 


In addition, the company's total assets in 2020 increased by 167.34% year-on-year, owner's equity attributable to the parent company increased by 222.94% year-on-year, share capital increased by 33.33% year-on-year, and net assets per share attributable to owners of the parent company increased by 142.26% year-on-year. Due to the increase in funds raised during the initial public offering of shares during the reporting period. 


Ming Microelectronics stated that compared with the expected performance in 2020 in the Prospectus of Initial Public Offering and Listing on the Science and Technology Innovation Board, the difference in the above data is mainly due to the strong downstream market demand in the fourth quarter and the production capacity brought by self-proclaimed Guarantee and cost scale effect appeared.

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