Investor.com" Ye Xin.
The responsibility for safe production is heavier than Mount Tai".
On February 18, on the first working day of resumption of work and production after the Spring Festival of the Year of the Dragon, a ** accident occurred in Hai'an City, Jiangsu, resulting in 3 deaths and 2 missing contacts.
The factory where the accident occurred was Jiangsu Asia-Pacific Light Alloy Technology Co., Ltd., hereinafter referred to as "Asia-Pacific Technology", 002540SZ), a wholly-owned subsidiary of Asia-Pacific Light Alloy (Nantong) Technology Co., Ltd., hereinafter referred to as "Yatong Technology"). The day before, in the "Commendation List" released by "Haian Release" on February 17, Yatong Technology had just been commended as one of the "Top 100 Industrial Enterprises".
Safety production is a major matter related to the safety of life and property, and the operation and management of enterprises have also attracted much attention from the market. According to the 2023 performance forecast disclosed by Asia-Pacific Technology, the company expects a net profit attributable to shareholders of listed companies in 2023 of 5500 million yuan-61.2 billion yuan, down 948%-18.65%。
Factory Occurrence**
Safety production is no trivial matter, and the factory has once again sounded the alarm bell of safety production.
At 15:43 p.m. on February 18, the Emergency Management Bureau of Hai'an City, Jiangsu Province issued a briefing stating that at 2:11 p.m. on February 18, 2024, the casting well area of the Asia-Pacific Light Alloy (Nantong) Technology Co., Ltd. in the Hai'an Economic and Technological Development Zone produced aluminum rods occurred. So far, a total of 3 people have died, 2 people are missing, and the search and rescue and aftermath work is ongoing.
Subsequently, at 20:35 p.m. on the same day, Asia-Pacific Technology issued an announcement on the safety accident of the subsidiary, expressing condolences and apologies for the harm caused by the safety production accident to employees and their families, and also disclosing the initial impact of the accident.
According to the announcement, Yatong Technology is now in a state of temporary suspension of production. The main production processes of Yatong Technology are casting, extrusion, heat treatment, deep processing, etc., after preliminary investigation, the casting production line of the first phase of the project is damaged, and the production line of extrusion, heat treatment, deep processing and the second phase of the project is not damaged.
As of the date of the announcement, the accident is still under investigation, the company has not received the accident investigation report issued by the accident investigation team and related treatment opinions, there is a certain uncertainty in the resumption of work and production of Yatong Technology, and the company can not accurately estimate the direct and indirect economic losses caused by the accident.
Atop Technology is an important wholly-owned subsidiary of Asia-Pacific Technology, mainly engaged in automotive aluminum extrusion and other products, supporting the company's "half of the country" performance. According to the data, from January to September 2023, Yatong Technology achieved an operating income of 201.4 billion yuan, accounting for 4117%, net profit 24.1 billion yuan, accounting for 60 percent of the company's consolidated net profit attributable to shareholders of listed companies71%。
According to public information, as early as 2016, Asia-Pacific Technology planned to raise no more than 1.7 billion yuan, but in fact, Asia-Pacific Technology only completed 14800 million yuan, of which 900 million yuan is used for an annual output of 650,000 tons of new energy vehicle aluminum project, 5800 million yuan for an annual output of 40,000 tons of lightweight and environmentally friendly aluminum alloy project.
Among them, the annual output of 40,000 tons of lightweight and environmentally friendly aluminum alloy project implemented by Yatong Technology has reached the scheduled usable state in 2022There is still a balance of 800 million yuan in investment funds1.9 billion yuan, accounting for 20 percent of the amount raised by the project60% to replenish liquidity. However, as of the end of June 2023, the progress of the project is 8685%, with a cumulative realized income of 309280,000 yuan.
Declining performance
Founded in 2001 and listed in 2011, Asia-Pacific Technology is an important supplier in the field of global automotive thermal management system parts materials and automotive lightweight system component materials, mainly engaged in automotive thermal management system aluminum, automotive lightweight system aluminum, including automotive parts, aerospace and other emerging fields of aluminum business.
In 2022, Asia-Pacific Technology will supply a total of about 120,000 tons of materials for global automotive thermal management systems, accounting for about 50% of the company's total sales, and about 8 high-strength aluminum alloys for automotive body, chassis, power, braking and other systems50,000 tons, accounting for about 35% of the total sales, and about 230,000 tons, accounting for about 10% of the company's total sales.
In recent years, the performance of Asia-Pacific technology has been up and down. From 2019 to 2022, Asia-Pacific Technology's operating income was 35300 million yuan, 39900 million yuan, 601.7 billion yuan, 672.9 billion yuan, year-on-year changes. 84%, and the revenue growth rate in 2022 will be lower than that in 2021; In the first half of 2023, Asia-Pacific Technology achieved an operating income of 30200 million yuan, a year-on-year change of -403%。
In terms of net profit, from 2019 to 2022, the net profit attributable to the parent company of Asia-Pacific Technology was 36.2 billion yuan, 35.7 billion yuan, 45.8 billion yuan, 67.5 billion yuan, year-on-year changes. 61%；The net profit after deducting non-profits was 26.5 billion yuan, 26.4 billion yuan, 34.9 billion yuan, 41.5 billion yuan, year-on-year changes. 06%。
However, Asia-Pacific Technology's net profit attributable to the parent company in 2023 will decline again. According to the company's performance forecast released on the evening of January 26, it is expected that the net profit attributable to the parent company in 2023 will be 5500 million yuan-61.2 billion yuan, down 948%-18.65%。The decrease is mainly due to the fact that the total amount of non-recurring profit and loss items in 2023 decreased significantly compared with the same period of the previous year, mainly due to the company's recognition of about 24.6 billion yuan (accounting for about 36.6 percent of the company's net profit attributable to shareholders of listed companies in 2022.)38%) in the non-recurring profit and loss account.
In 2023, the net profit attributable to the parent company of Asia-Pacific Technology after deducting non-recurring gains and losses will be 50.2 billion - 55.2 billion yuan, an increase of 20 over the same period last year84% -32.87%。In this regard, the company said that the main reasons for the year-on-year growth of this indicator are: first, the company's main business downstream application market continues to improve, the company's main product orders grow steadily, and the product structure continues to deepen the development, through the synchronous development with downstream automobile customers, the sales of deep-processed auto parts have increased significantly; Second, with the company's new energy auto parts intelligent workshop project, an annual output of 40,000 tons of lightweight and environmentally friendly aluminum alloy project, with an annual output of 6With the gradual release of production capacity such as 50,000 tons of new energy vehicle aluminum project, the company's overall production capacity and capacity utilization rate have steadily improved.
Now, affected by the ** incident, it is uncertain when Yatong Technology, a subsidiary of Asia-Pacific Technology, will resume work and production, which may also affect the operating performance of Asia-Pacific Technology. As of noon on February 19, the share price of Asia-Pacific Technology fell by more than 6% on the same day, with a total market value of 6.7 billion yuan and a price-to-earnings ratio (TTM) of 869 times. (Produced by Thinking Finance).