The interim results of the Yellow River whirlwind in 2008 declined, mainly due to factors such as the increase in loan interest rates of financial institutions. In fact, the company's main product, synthetic diamond, has been effectively controlled and its gross profit margin has increased. With the launch of new projects, the company will further consolidate its position as the world's leading diamond company.
The Yellow River whirlwind (600172:6.5, +0.12, ↑1.88%) released on July 26, 2008 semi-annual report shows that the company's main business income in the first half of the year was 316,692,400 yuan, down 12.75% year-on-year; operating profit was 38,133,300 yuan, down year-on-year 16.20%; total profit of 35.44 million yuan, down 7.82%; net profit of 24,825,100 yuan, down 1.10%; basic earnings per share of 0.10 yuan, net assets per share of 3.84 yuan, return on net assets of 2.55%.
The company only completed 82.85% of the business plan revenue, mainly due to the state's macro-control of the real estate market and the decline in export sales due to the appreciation of the renminbi, which was down 12.465% year-on-year; the reason for the decline in corporate profits was mainly due to the higher interest rates of financial institutions and the recovery of the state. Land use tax for foreign-invested enterprises and the company's employee compensation.
The company's main products, artificial diamond, achieved operating income of RMB 274,120,800, gross profit margin of 24.04%, an increase of 1.20 percentage points year-on-year. The implementation of new diamond technology development and related process reengineering projects has progressed in stages and reduced costs, which is to achieve product gross profit margin. The main reason for the improvement.
In May 2008, the company announced the implementation of a 22,000-ton press synthesis coarse-grain diamond single crystal and large-diameter polycrystalline composite sheet industrialization project. The total investment of the project is 780 million yuan. It will build 700 sets of 22,000 tons of coarse-grained diamond single crystal and large-diameter polycrystalline composite sheet production line, with an annual output of 5.9 million carats of coarse-grained diamond single crystal and 5.4 million large-diameter polycrystalline composite sheets. China has become the world's largest diamond producer. At present, China's synthetic diamond production has reached 4.5 billion carats, accounting for 65% of global diamond production. The company is the world's largest manufacturer of synthetic diamonds with an annual production capacity of 1.5 billion carats. After the completion of the new project, the scale will be expanded to 2.4 billion carats, with an absolute leading position.
The above-mentioned 700 new 22,000-ton Ñ„650mm large-bore diamond presses have achieved a leap in the large-scale development of the six-face press. The diameter of the synthetic cavity can be increased to Ñ„46mm, and the unit diamond production can be increased from 100 carats to 200-250 carats. The energy consumption is reduced by 30-40%, the amount of cemented carbide is also reduced from 0.5/10,000 carats to 0.05/10,000 carats, and the employment is also greatly reduced. The products of the new project include composite sheets and coarse-grained diamonds. The composite sheets are positioned in the middle and high-end products. In the future, the import substitution space in the fields of oil fields, coal fields and machine tools will be huge, and the gross profit margin will be significantly improved. The grade and output rate of coarse-grained diamonds are also higher than current products, and the price and gross profit margin are both higher. In general, the new project will expand the company's business scale by 3-4 times, so the overall gross profit level of the new project can be increased by about one time. The new project was completed in three phases: 300 in 2008, 300 in 2009, and 100 in 10 years. After the project is completed and put into production, it can realize an annual production capacity of 9.7 million carats of coarse-grained diamond single crystals and 5.4 million pieces of large-diameter polycrystalline composite sheets. It can realize annual sales income of 1.96 billion yuan and complete profit before tax of 400 million yuan.
The high oil price has led to an increase in the demand for global petroleum drill bits. The demand for diamonds for CNC machine tools, civil engineering and electronics, and the demand for diamonds for the processing of stone and chemical fiber products have continued to flourish. Since the second half of 2007, the supply and demand situation of the industry has continued to improve, and the inventory of major enterprises has continued. Continued decline, is now close to zero inventory, product prices have stabilized for 8 consecutive months after years of decline, it is expected that industrial diamond demand growth and global currency liquidity excess factors will lead to a significant increase in diamond prices in the next year or two.
In addition, the company is in an absolute leading position in research, production technology and scale, and is the maker of the main standards of the industry. The company's previously acquired Beijing Xinnaida Diamond Co., Ltd. has strong diamond research and development capabilities, which will benefit the company's overall technical level after the acquisition. And because the competitors are weak, most of them only have 1 to 2 million units of production capacity. The company has the strength to integrate the industry and lead the industry.
Huanghe Cyclone achieved operating income of RMB 161,396,400 in January-March 2008, a year-on-year decrease of 3.46%, net profit of RMB 12,938,800, a decrease of 3.52% year-on-year, earnings per share of RMB 0.05, net assets per share of RMB 3.79, and ROE of 1.27%. .
The Yellow River whirlwind (600172:6.5, +0.12, ↑1.88%) released on July 26, 2008 semi-annual report shows that the company's main business income in the first half of the year was 316,692,400 yuan, down 12.75% year-on-year; operating profit was 38,133,300 yuan, down year-on-year 16.20%; total profit of 35.44 million yuan, down 7.82%; net profit of 24,825,100 yuan, down 1.10%; basic earnings per share of 0.10 yuan, net assets per share of 3.84 yuan, return on net assets of 2.55%.
The company only completed 82.85% of the business plan revenue, mainly due to the state's macro-control of the real estate market and the decline in export sales due to the appreciation of the renminbi, which was down 12.465% year-on-year; the reason for the decline in corporate profits was mainly due to the higher interest rates of financial institutions and the recovery of the state. Land use tax for foreign-invested enterprises and the company's employee compensation.
The company's main products, artificial diamond, achieved operating income of RMB 274,120,800, gross profit margin of 24.04%, an increase of 1.20 percentage points year-on-year. The implementation of new diamond technology development and related process reengineering projects has progressed in stages and reduced costs, which is to achieve product gross profit margin. The main reason for the improvement.
In May 2008, the company announced the implementation of a 22,000-ton press synthesis coarse-grain diamond single crystal and large-diameter polycrystalline composite sheet industrialization project. The total investment of the project is 780 million yuan. It will build 700 sets of 22,000 tons of coarse-grained diamond single crystal and large-diameter polycrystalline composite sheet production line, with an annual output of 5.9 million carats of coarse-grained diamond single crystal and 5.4 million large-diameter polycrystalline composite sheets. China has become the world's largest diamond producer. At present, China's synthetic diamond production has reached 4.5 billion carats, accounting for 65% of global diamond production. The company is the world's largest manufacturer of synthetic diamonds with an annual production capacity of 1.5 billion carats. After the completion of the new project, the scale will be expanded to 2.4 billion carats, with an absolute leading position.
The above-mentioned 700 new 22,000-ton Ñ„650mm large-bore diamond presses have achieved a leap in the large-scale development of the six-face press. The diameter of the synthetic cavity can be increased to Ñ„46mm, and the unit diamond production can be increased from 100 carats to 200-250 carats. The energy consumption is reduced by 30-40%, the amount of cemented carbide is also reduced from 0.5/10,000 carats to 0.05/10,000 carats, and the employment is also greatly reduced. The products of the new project include composite sheets and coarse-grained diamonds. The composite sheets are positioned in the middle and high-end products. In the future, the import substitution space in the fields of oil fields, coal fields and machine tools will be huge, and the gross profit margin will be significantly improved. The grade and output rate of coarse-grained diamonds are also higher than current products, and the price and gross profit margin are both higher. In general, the new project will expand the company's business scale by 3-4 times, so the overall gross profit level of the new project can be increased by about one time. The new project was completed in three phases: 300 in 2008, 300 in 2009, and 100 in 10 years. After the project is completed and put into production, it can realize an annual production capacity of 9.7 million carats of coarse-grained diamond single crystals and 5.4 million pieces of large-diameter polycrystalline composite sheets. It can realize annual sales income of 1.96 billion yuan and complete profit before tax of 400 million yuan.
The high oil price has led to an increase in the demand for global petroleum drill bits. The demand for diamonds for CNC machine tools, civil engineering and electronics, and the demand for diamonds for the processing of stone and chemical fiber products have continued to flourish. Since the second half of 2007, the supply and demand situation of the industry has continued to improve, and the inventory of major enterprises has continued. Continued decline, is now close to zero inventory, product prices have stabilized for 8 consecutive months after years of decline, it is expected that industrial diamond demand growth and global currency liquidity excess factors will lead to a significant increase in diamond prices in the next year or two.
In addition, the company is in an absolute leading position in research, production technology and scale, and is the maker of the main standards of the industry. The company's previously acquired Beijing Xinnaida Diamond Co., Ltd. has strong diamond research and development capabilities, which will benefit the company's overall technical level after the acquisition. And because the competitors are weak, most of them only have 1 to 2 million units of production capacity. The company has the strength to integrate the industry and lead the industry.
Huanghe Cyclone achieved operating income of RMB 161,396,400 in January-March 2008, a year-on-year decrease of 3.46%, net profit of RMB 12,938,800, a decrease of 3.52% year-on-year, earnings per share of RMB 0.05, net assets per share of RMB 3.79, and ROE of 1.27%. .
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