Recently, Chongqing Qinan Electromechanical Co., Ltd. (“Qinan Co., Ltd.”) stated in its performance report that in 2021, the company’s “reengineering and upgrading” strategy has achieved initial results, the existing business segments will continue to recover, and the market for upgraded products will be stable and continue to grow. It has shown a new momentum of development, and some new projects have also begun to extend to new energy vehicle products.
Qin An also stated that the company’s independent research and development of the new energy drive system sector is progressing steadily. The company’s overall business operation, research and development and market expansion promote each other, forming a virtuous circle, forming a new high-quality sustainable development pattern.
The performance report of Qinan shares shows that for the whole year of 2021, the company’s operating income will be 1.419 billion yuan, a year-on-year increase of 55.19%; the net profit attributable to shareholders of the listed company is 103 million yuan, a year-on-year decrease of 68.44%; after deducting non-recurring gains and losses, the attribution The net profit of shareholders of the parent company was 170 million yuan, a year-on-year increase of 142.83%.
Qin An shares said that the main reason for the increase in the company’s operating income and net profit after deducting non-recurring gains and losses in 2021 is the further optimization of the company’s customer structure, the gradual emergence of market advantages, the strong market sales demand of major customers, and the rapid increase in the company’s orders. due to increased sales.
It is understood that Qinan Co., Ltd. is mainly engaged in the core components of the power system engine and the key components of the transmission system. The company has a variety of casting production processes. In terms of non-ferrous casting processes, it covers a variety of process technologies such as low-pressure casting, gravity casting, gravity tilting, and high-pressure casting. The company’s main products cover engine core components such as engine cylinder blocks, cylinder heads, crankshafts, and transmission key components, such as boxes and casings; product categories include crankshafts, cast aluminum cylinder heads, cast aluminum cylinder blocks, cast iron cylinder blocks and transmissions Box, housing, motor housing and other products.
Qin An shares said that in 2021, with the overall recovery of the automotive industry, the company’s vehicle customer sales have achieved a substantial increase, and the company’s order demand has also increased significantly, increasing the company’s sales revenue. In addition, the company actively strengthens technical and business communication and docking with potential target projects of new and old customers. In 2021, it has won orders for a number of new projects, including the extended-range engine cylinder head and cylinder block project of a new car manufacturer. .
In addition, Qinan Co., Ltd. continues to promote the strategy of “reengineering and upgrading”, and promotes the construction of new bases in an orderly manner. The construction of headquarters base and new energy base is an important part of the company’s overall development strategy of “reengineering and upgrading”. There are the expansion of project products, the upgrading of subsequent products and the implementation of the new energy vehicle drive system project of Chongqing Meifeng Qinan Automobile Drive System Co., Ltd. (“Meifeng Qinan”), a wholly-owned subsidiary of the company.
According to reports, in June 2020, the construction of Qin’an’s headquarters base and new energy vehicle drive system base officially started. In 2021, the construction of the headquarters base has been basically completed, and the construction of the new energy base will be promoted in an orderly manner. It is expected that the headquarters will be completed in the first half of 2022. Relocation of the base. The headquarters base is used to undertake the functions of the existing business and R&D center. While continuing the production and R&D of the existing business segments, it also produces basic components for the drive system of new energy vehicles.