vrpoker| Performance fell by more than 70%! 6 consecutive board bull stocks Chunguang Technology latest release

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The performance fell by more than 70%! The latest release of 6-board bull stocks

As a bull stock in the short-term market, Chunguang Technology (603657) continued to show a daily limit trend on April 19, which is also the sixth consecutive limit of the stock in the near future.

By the end of the day, Chunguang Science and Technology News was at 21.Vrpoker.68 yuan, up 1.Vrpoker.97 yuan, an increase of 9.99%.

On the evening of April 19th, Chunguang Technology disclosed its 2023 annual report that during the reporting period, operating income was 1.82 billion yuan, down 5.28% from the same period last year; net profit was 24.9964 million yuan, down 74.6% from the same period last year, deducting 19.9427 million yuan from non-net profit, down 76.97% from the same period last year; basic earnings per share is 0.18 yuan. It is proposed to pay a cash dividend of 1 yuan (including tax) for every 10 shares.

Chunguang Technology is mainly engaged in the research, development, production and sales of clean electrical hoses, accessories and ODM/OEM products, among which ODM/OEM products are mainly vacuum cleaners, floor washers, floor sweeping robots, cloth cleaning machines and so on. The consumer demand of the global vacuum cleaner and other clean electrical appliances market is the main factor driving the change of the sales scale of the company's vacuum cleaner hoses, accessories and ODM/OEM products.

The reason why the net profit of Chunguang Science and Technology declined sharply in 2023 is mainly due to the intensification of competition in the downstream terminal market and the transmission of customers' demand for capital reduction in 2023 against the background of the slowdown in global economic growth, the decline in the sales price of the company's products, as well as the increase in employee salary and depreciation, and the decrease in exchange earnings compared with the same period last year.

For the next business plan, Chunguang Science and Technology said that it will step up efforts to develop the ODM/OEM market of vacuum cleaners, continue to expand the scale of business, continuously improve the manufacturing level and technical capability of vacuum cleaners by increasing investment in research and development of the whole machine business, constantly strengthen the coordinated development of vacuum cleaner and hose fittings business, improve the supply chain system of the whole machine business, and strive to improve the self-sufficiency rate of complete machine parts. Give full play to complementary advantages and enhance overall profitability and competitiveness. Actively implement the layout of overseas business and promote the project construction of clean electrical equipment production base for overseas vacuum cleaners in an orderly manner.

In the secondary market, Chunguang Technology has shown a rising limit for six consecutive trading days, and the company's stock trading price has risen by 79.26% since April 11, 2024. Chunguang Science and Technology again warned of the risks on the evening of April 19.VrpokerThe stock price of the company has risen sharply recently, and there may be a risk of a sharp decline after a large short-term increase.

Up to now, the controlling shareholders, actual controllers and actors of Chunguang Technology hold a total of 90.9781 million shares of the company, accounting for 66.1% of the total share capital of the company, the rest are external tradable shares, the circulation is small, there is a risk of irrational speculation in the market.

In addition, according to the CSRC industry classification results released by China Securities Index Co., Ltd., on April 18, 2024, Chunguang Technology's "C29 rubber and plastic products" industry had a rolling price-to-earnings ratio of 23.67 and a price-to-book ratio of 1.83. Chunguang Technology's rolling price-to-earnings ratio is 46, price-to-book ratio is 2.77. Chunguang Technology's current rolling price-to-earnings ratio and price-to-book ratio are significantly higher than the current average level of the same industry.

It is worth mentioning that after the continuous limit rise in the share price of Chunguang Technology, some shareholders of the company intend to reduce their holdings in the form of clearance. Chunguang Technology announced on the evening of April 18 that Fang Xiubao, a shareholder, plans to reduce his holdings of no more than 698000 shares (0.51 per cent of the company's total share capital) at the market price through centralized bidding within six months after the disclosure of the plan (April 25, 2024 to October 24, 2024). As of the date of disclosure of the announcement, Fang Xiubao held 698000 shares of Chunguang Technology unlimited sale of tradable shares, derived from the company's implementation of 2019 equity distribution of capital reserves to increase share capital.

According to the announcement of Chunguang Technology on the evening of April 19th, Fang Xiubao, a shareholder, plans to reduce his holdings of 698000 shares of the company by centralized bidding through the secondary market, and his plan and behavior of reducing his holdings of the company's shares may lead to a fall in the company's share price.