Summary of the first half of 2014 revenues of 982 million yuan, an increase of 7.56 percent year on year, net profit attributable to shareholders of listed companies 192 million yuan, an increase of 48.96 percent year on year, equivalent to earnings per share of 0.26 yuan. During the reporting period, the company's synthetic diamond production main body...
In the first half of 2014, the company realized revenue of 982 million yuan, a year-on-year increase of 7.56%. The net profit attributable to shareholders of listed companies was 192 million yuan, an increase of 48.96% year-on-year, equivalent to an income per share of 0.26 yuan. During the reporting period, Zhongnan Diamond, a subsidiary of the company's synthetic diamond production, had an operating income of 780 million and a net profit of 160 million. The company's synthetic diamond production capacity is close to 7 billion carats. It is a well-deserved synthetic diamond faucet whose product price is the vane of the overall price of the industry. When the overall diamond industry is at a low point, the gross profit margin of the company's superhard materials can still maintain a level of nearly 43%, showing the company's excellent control cost level and significant scale effect. The actual controller, the Weapons Industry Group, recently stressed the need to vigorously implement the reform of the no-restriction zone under the legal and policy framework, and its assets have integration expectations. The current asset securitization rate of the Weapons Group is about 20%, which is significantly lower than that of AVIC and Bingzhuang Group. The Weapons Group has 12 listed companies. The industrial layout is mainly civilian products, while the military products companies are relatively few. As an advanced materials company under the Arms Industry Group, the company is expected to become a platform for the integration of non-metallic advanced materials in the future.
We believe that the diamond abrasive industry is reversing and the industry trough is coming to an end. The purchase restriction of more than 30 cities has been substantially liberalized. The management has raised the infrastructure amount for the whole time four times, and the demand for downstream infrastructure and real estate is expected to rebound. From the company's point of view, on the one hand, as the global synthetic diamond leader, the company has further strengthened its strength in the industry's adjustment and integration in the past two years, and its scale is in an absolute leading position. On the other hand, the actual controllers of the People's Army Group emphasize the need to vigorously promote the legal and policy framework. Under the no-restriction reform, the assets of the company have integration expectations. With the gradual warming of the market in the second half of the year, we believe that the company is expected to achieve the high performance promises given when it is fixed, and it belongs to the military industry with performance and concept.
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