On the evening of June 8, Zhongying Electronics (300327) issued a suspension announcement on the planning of changes in the company's control rights.
According to the disclosure, the company received a notice from the controlling shareholder Weilang International,It is recently planning to conduct matters related to the change of the company's control. At present, the parties have not signed relevant agreements.It intends to conduct argumentation and consultation on specific transaction plans, agreements and other related matters. The specific situation shall be subject to the relevant agreements signed by the parties.
Main products can be subdivided into 1. Industrial specification MCU: mainly used for smart home appliances, variable frequency motors, and intelligent Internet of Things; 2. Battery management chip (BMIC): mainly used for 3C lithium battery and power battery management; 3. AMOLED display driver chip: mainly used for smartphones and intelligent loading; 4. Vehicle specification MCU: mainly covers electronic control, motor and battery management. In recent years, the revenue of industrial-regulated MCUs accounts for nearly 60%; BMICs account for about 30%.
It is mainly caused by the company receiving a large one-time compensation from suppliers during the previous reporting period; the company sold a total of 885 million chips, an increase of nearly 9% year-on-year; the gross profit margin was 33.60%, a decrease of 2.01% year-on-year, mainly due to the reduction in selling price caused by fierce market competition; the net operating cash flow was 183 million yuan greater than the net profit, mainly due to the decrease in inventory of 96 million yuan. The company maintains R&D investment, with R&D expenses of 300 million yuan, accounting for 22.35% of its revenue.
In the first quarter of this year, the company achieved operating income of 319 million yuan, an increase of 0.05% year-on-year; during the same period, the net profit attributable to shareholders of listed companies was 15.5586 million yuan, a decrease of 50.1% year-on-year;In this regard, the company stated that the year-on-year decrease of net profit was mainly affected by the reduction of the additional deduction amount of value-added tax by 5.69 million yuan, the increase in depreciation and expenses after the completion of the Second Headquarters Building of Hefei, and the gross profit margin was 32.09% (a decrease of 1.77% year-on-year). During the same period, the company's net inventory was 591 million yuan, a decrease of 23.35 million yuan month-on-month. The company's expected inventory will continue to decline significantly throughout the year.
Talking about the impact of the current environment on operations, Zhongying Electronics explained in its first quarter report that the US tariff policies are changing, affecting the global supply chain order, resulting in a short-term wait-and-see sentiment in global trade. Faced with downstream manufacturers in the non-US market, more agree that using US chips will cause insecurity or increase in the cost of supply chains, and then actively seek domestic alternatives. Customers who have purchased chips from US manufacturers have been inquiring about more cooperation with the company, mainly lithium battery management chips and some white household appliances MCU chip customers.
【Source: Securities Times; Editor: Xiao Ran】
