The contract amount was 257 million yuan, which was delivered in batches on a monthly basis and all equipment was delivered before the end of April 2018. The contract amount was 601 million yuan, and delivery was carried out on a monthly basis. All equipment was delivered before the end of June 2018. The company's photovoltaic single crystal furnace order delivery revenue confirmation cycle is about 3 to 5 months, this order is expected to fully confirm revenue in 2018.
Event 2: The company released the first quarter 2018 performance forecast. In 1Q2018, the company achieved a net profit of RMB 122 million to RMB 140 million, a year-on-year growth of 100%–130%. The main reasons for the rapid growth of the company's performance are:
1) With the rapid growth of the photovoltaic industry, the expansion of downstream manufacturers and the market share of single crystals continued to increase. The company's crystal growth equipment, particularly its monocrystalline silicon growth furnaces and intelligent processing equipment, enjoyed a better sales situation. The products reviewed and approved during the reporting period were substantially higher year-on-year. Increase; sales of semiconductor equipment, sapphire materials, have positive impact on performance.
2) From January to March in 2018, the impact of non-recurring gains and losses on net profit was between 1 million and 3 million yuan.
Pushes forward the draft of the restricted stock incentive plan to demonstrate the company’s confidence in the future development
The company recently announced the draft 208 Restricted Stock Incentive Plan. It intends to grant 1.3522 million restricted shares to 121 incentive targets, which represents 0.34% of the company's total share capital. The first grant is 2,692,200 shares, and 660,000 shares are reserved for restricted stocks. The price is 9.12 yuan / share.
The performance appraisal for the first time awarded by the incentive plan uses 2017 net profit (386 million) as the base, and the growth rate of net profit from 2018 to 2019 is not less than 50% and 70% respectively, ie the net profit is not less than 579 million respectively, 6.56 Billion. If the reserved portion is awarded in 2018, the reserved target performance assessment target is consistent with the initial grant; if the reserved portion is awarded in 2019, the 2017 net profit will be taken as the base and the net between 2019 and 2020. The profit growth rate is not less than 70% and 90%, respectively, ie the net profit is not less than 656 million and 733 million, respectively.
A total of 121 incentive objects were granted for the first time in this plan. The staff included: 5 directors and senior management staff, 4.13% of the total number of incentives; 116 middle managers, core technology (business) personnel, accounting for a total of 95.87% of the total number of incentive objects.
Following the company's first equity incentive plan in 2015, the company again launched the draft incentive plan, which helps stabilize the core technology management team and laid the foundation for the future development of the company.
Cooperation with Central Government and Wuxi Municipal Government to Participate in the Research and Development of Large Silicon Wafer of Integrated Circuit: The Company signed the "Strategic Cooperation Agreement" with Wuxi Municipal Government and Central Government in October 2017: Zhonghuangufen, Jingsheng M & E Co-operation with Wuxi Investment Platform , The construction of large silicon integrated circuit manufacturing and manufacturing projects, the total investment of about 3 billion US dollars, an investment of about 1.5 billion US dollars.Cooperation is expected to give play to the advantages of all parties to integrate all resources, the development of semiconductor materials industry for the integrated circuit industry To achieve leapfrog development contribution.
The Company is the leading manufacturer of crystalline silicon growth equipment in China. Benefiting from the recovery of the photovoltaic industry, the semiconductor industry broke out: We expect net profit of 2017 to 2019 to reach 3.86, 6.62 and 874 million yuan and EPS of 0.39, 0.67 and 0.89 yuan respectively.