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Xintian Technology reported rapid growth in revenue of 468 million in the first three quarters
[China Instrument Network Instrument Enterprise] On October 27, Xintian Technology released the third quarter report of 2017. According to the announcement, the company’s operating income for the first three quarters was 468 million, an increase of 48.04% year-on-year, and net profit attributable to shareholders of listed companies was 98 million, an increase of 42.23% year-on-year. The sales gross profit rate was 49.02%, which was an increase of 5.09pct over the same period; the period expense rate was 24.67%, an increase of 1.72pct over the same period. In the third quarter, revenue was 233 million yuan, up 94.15% year-on-year, and net profit attributable to the mother was 62.01 million yuan, up 99.5 percent year-on-year.
During the reporting period, the rapid growth of Xintian Technology's performance was mainly due to the rapid advancement of the company's smart gas meter business and the smooth promotion of large and medium-sized customers such as China Resources Gas, Hong Kong and Chongqing, and Chongqing Gas; Wanter Electric has been consolidated since November 16 The scope, Shanghai Kent has been included in the consolidated range since June 17th, and the factor of the table has promoted the growth of the revenue to a certain extent.
The report shows that large and medium-sized customers are progressing smoothly in smart gas meters. Since the company was nominated for CR Gas in December of the same year, it has entered into business cooperation with more than 50 gas companies in the first half of the year. In addition to China Resources, the company has continued to make breakthroughs in the development of large and medium-sized customers such as Hong Kong and Chongqing, and Chongqing Gas. The strategy from small customers to medium and large groups has achieved good results.
The company’s smart gas meters also led the market in terms of technology. Prior to this, the company signed strategic cooperation frameworks with WISCO China Resources Gas Corporation and China Telecom to achieve strategic cooperation in NB-IoT applications. The first 3400 NB-IoT smart gas meters will be Wuhan Iron and Steel Huarun gas pilot application.
In terms of smart water meters, the NB-IoT field leads the market and downstream expands to first-tier cities. The company has been at the forefront of the market in smart meter NB-IoT products. Prior to this, it signed a strategic cooperation agreement with Zhengzhou Jingkai Water Supply Company and China Telecom Henan Branch to establish a synergy in “product, network, and applicationâ€. It will help the company develop in the field of NB-IoT and smart water. From the perspective of sales area, the company's smart meter business started from the small and medium-sized cities with strong advantages gradually to provincial capitals and first-tier cities, which is expected to bring new breakthroughs.
In addition, smart water promotion is expected to speed up. In the area of ​​smart water, the company completed the acquisition of a 75% stake in Shanghai Kent, which is an industry leader in the field of electromagnetic flow meters, which helps the company form a complete civil, industrial and commercial smart watch, pipe network measurement product structure and intelligent water technology Solutions to promote the rapid growth of smart water business. In the field of smart agriculture, the company's product system has been expanded to areas such as Hebei, Henan, Inner Mongolia, Xinjiang, Gansu, Guizhou, Yunnan, and Guangxi.
(Original title: Xintian Technology (300259) Quarterly Review: The performance has entered a fast-growing track. Smart gas and water meters have dazzling performance.)