On the evening of January 29, Sunrise Oriental released its annual results notice for 2017. According to the announcement, Sunrise Oriental expects 2017 annual net profit attributable to shareholders of listed companies of 48.82 million to 97.82 million yuan, a year-on-year increase of 244 million yuan, Less 60% to 80% net non-operating profit and loss items, the net profit is expected to decrease 90% to 120%.
Sunrise Orient said that by the solar energy industry macroeconomic environment, the company's main business of solar energy business fundamentals continued to decline.Although the reporting period consolidated statements operating income increased by about 18% over the same period last year, but excluding from April 1, 2017 Outside the data of Zhejiang Shuaikang Electric Co., Ltd., the domestic solar business in the reporting period decreased by 15% as compared with the same period of last year, while the retail water purification business decreased by about 15% as compared with the same period of last year.
In addition to the main business in the downward channel, due to the sharp rise in raw material prices and other factors, Sunrise Oriental solar business profit margins compression, gross profit margin fell nearly 6 percentage points.
Sunrise Oriental revealed that based on the future strategy, business considerations, management costs and channel costs have not been drastically adjusted, the expense ratio increased by about 5 percentage points over the same period of previous year. During the reporting period, borrowings increased, exchange rate fluctuations and financial costs were expected to increase over the same period last year 40 million.
In addition, during the reporting period, Sunrise Oriental invested 944 million shares in Suning Bank, but the bank was still in its infancy. An investment of 735 million shares in Shuaikang Electric took 75%, resulting in a decrease of about 20% in the financial wealth management revenue of the Company.
Although Sunrise Oriental 2017 earnings report is not beautiful, but there are still agencies optimistic about the future development of Sunrise Oriental space.
Liu Hong analysts SW analysts said that although the solar water heater industry is in a period of deep adjustment, but sunrise East to kitchen electricity, water purifiers, air purifiers and other multi-category business transformation and expansion, help solve the problem of a single business, And open up new growth point.Moreover, Shuaikang Electric is a high-quality assets, the Sunrise Oriental water heater channels and Shuaikang kitchen electric channel both the product attributes overlap and have different levels of complementarity, Shuaikang electrical products, brand integration and increase investment , Is expected to rekindle the vitality.
In the opinion of Guohai Securities analyst Dai Pengju, Sunrise Oriental invested 944 million to acquire a 23.6% stake in Suning Bank, which is conducive to broaden the financing channels, but also is expected to Sunrise Oriental users, suppliers, partners, platform merchants, etc. Provide inclusive financial services to comprehensively enhance the market competitiveness of the Company.