The automotive industry has made another success, with 5 billion yuan in cash on hand, and plans to merge with Japanese companies. (Excerpted from Dharma Conference briefing)
[Reporter Zhang Huiwen/Taipei Report]Nengsu (5392) held an online lecture today (21st). Due to the continued growth of the automotive business, Nengsu’s third quarter revenue and gross profit margin all set new single-quarter highs. Nengsu also said, The cash on hand is as high as 5 billion yuan. Currently, 2-3 mergers and acquisitions have been planned, and we look forward to them bearing fruit next year.
Nengsu’s single-quarter revenue in the third quarter was 2.55 billion yuan, gross profit was 450 million yuan, and gross profit margin was 18%; cumulative revenue in the first three quarters was 6.877 billion yuan, after-tax net profit was 70 million yuan, and after-tax earnings per share (EPS) was 0.42 yuan. Nori pointed out that the group has focused on the automotive business in recent years. In the group’s manufacturing system, the revenue of the automotive business group exceeds 50%. With the Japanese Toyota Motor (TOYOTA) making record profits this year, the automotive supply chain is facing a shortage of materials. Alleviation has indirectly driven the operation of the subsidiary IKKA-KY (TT 2250) to take off. The low shipments in the past few quarters have gradually gotten rid of the downturn and returned to the track of operational growth.
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Nengli is also optimistic that the automotive business will once again play an important role in the operation next year. As of the end of August, the cash on account is as high as 5 billion yuan. With its subsidiary Nengli Asia Capital Company, it is extending its industrial development tentacles and looking for suitable acquisition targets or operating partners. It is currently in the process of Contact with 2-3 potential M&A targets in Japan’s automotive industry; coupled with the fact that the Nagoya factory is about to start production next year, it can effectively inject next year’s operating profits.
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