On the evening of April 25, Jinbei Electrician disclosed its first quarter performance.
The company achieved operating income of 3.522 billion yuan in the first quarter, a year-on-year increase of 19.01%; net profit attributable to shareholders of listed companies was 134 million yuan, a year-on-year increase of 16.58%.
Jinbei Electrician said that under the influence of soaring commodity prices and the downward cycle of the real estate industry, the cable industry is facing accelerated reshuffle and competition is relatively fierce.
The company adjusted its marketing strategy in a timely manner and continued to expand channels and develop customers. During the reporting period, the sales volume of cables was approximately 600,000 kilometers, a year-on-year increase of approximately 4%. The operating income increased by 12.52% year-on-year. It achieved steady growth and the basic cable business was improved. Continue to be solid.
According to the relevant person in charge of Jinbei Electrician, the company\’s flat magnet wire sales volume increased by more than 20% year-on-year in the first quarter, and operating income increased by 32.07% year-on-year, continuing the strong growth momentum.
It is understood that in the first quarter, the company is supplying to multiple UHV projects such as Jinshang-Hubei, Hami-Chongqing, Ningxia-Hunan, etc., and has full orders on hand.
At the same time, in order to further improve product delivery capabilities, the Wuxi Magnet Wire Business Unit launched a transposition wire production capacity expansion project in the first quarter. It is expected to be put into production in the second quarter, and will increase the production capacity of 10,000 tons of transposition wires.
In addition, sales of flat electromagnetic wires for new energy vehicle drive motors have increased significantly, with a year-on-year increase of approximately 2 times.
