[Photovoltaic observation] Hemai shares: net profit attributable to the parent company in the first quarter decreased by 61.83% year on year

[Photovoltaic observation] Hemai shares: net profit attributable to the parent company in the first quarter decreased by 61.83% year on year

14:15:51, May 23, 2024

Recently, Hemai disclosed its first quarterly report of 2024. In the first quarter of 2024, the company achieved a revenue of 331 million yuan, a year-on-year decrease of 42.91%; The net profit attributable to the parent company was 67 million yuan, down 61.83% year on year.

Hemai shares will be listed on the science and technology innovation board in 2021, and the maximum stock price of the company has retreated by more than 80% in the past two years.

Net profit attributable to parent company in the first quarter decreased by more than 60% year on year

Hemai is mainly engaged in the R&D, manufacturing and sales of photovoltaic inverter, energy storage inverter and other power conversion equipment and related products.

Hemai is one of the 50 constituent stocks of the CSI PV Industry Index.

In 2023, Hemai will achieve a revenue of 2.026 billion yuan, up 31.86% year on year; The net profit attributable to the parent company was RMB 512 million, down 3.89% year on year.

In the first quarter of 2024, Hemai realized a revenue of 331 million yuan, a year-on-year decrease of 42.91%; The net profit attributable to the parent company was 67 million yuan, down 61.83% year on year. The company said that the decline in net profit attributable to the parent company was mainly due to the slowdown in sales growth during the reporting period, but based on long-term development, increased investment in research and development, management and business.

The maximum pullback of share price in recent two years exceeded 80%

Hemai shares were listed on the Science and Technology Innovation Board in 2021, and then benefited from the growth of performance, the company's stock price fluctuated and rose, reaching the peak of the stock price in September 2022 (before reversion). Subsequently, the company's share price continued to fluctuate. As of the close of May 22, 2024, the company's share price had dropped more than 60% from its historical peak, and the maximum withdrawal during the period exceeded 80%.

According to the annual report of 2023, Hemai "plans to distribute a cash dividend of 36 yuan (tax included) for every 10 shares to all shareholders based on the total share capital on the registration date of equity distribution minus the shares in the company's special securities account for repurchase. In 2023, the Company implemented share repurchases in cash by means of centralized bidding, with 269373 shares repurchased accumulatively, and the total amount of funds paid was 152389823.73 yuan (excluding stamp tax, transaction commission and other transaction costs). To sum up, the total dividend amount of the company in 2023 is 450895080.93 yuan, accounting for 88.09% of the net profit attributable to shareholders of the listed company in the consolidated statements in 2023. "

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