主营介绍

  • 产品类型:

    电力设备、数控设备、电力工程

  • 产品名称:

    电力设备 数控设备 电力工程

  • 经营范围:

    电力装备、数控机械设备、液压气动元件、环保设备的开发、生产、销售、技术咨询;货物及技术进出口;自有房屋租赁;物业管理;仓储服务(不含危险化学品);工业自动化控制技术的咨询;电子电器元件的销售;机械零部件的加工、销售;环保工程的设计、施工。(依法须经批准的项目,经相关部门批准后方可开展经营活动)。

运营业务数据

最新公告日期:2018-04-24 
业务名称 2017-12-31 2015-12-31
装备制造销量(元) 3.88亿 -
装备制造产量(元) 3.97亿 -
电力工程产量(元) 6.74亿 -
电力工程销量(元) 7.19亿 -
高压电气开关产量(元) - 2.14亿
高压电气开关销量(元) - 2.14亿

主营构成分析

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营业收入 X

单位(%) 单位(万元)
注:通常在中报、年报时披露 
业务名称 营业收入(元) 收入比例 营业成本(元) 成本比例 利润比例 毛利率
按行业 装备制造 3.41亿 84.79% 1.60亿 74.48% 96.58% 53.14%
电力工程 6114.84万 15.21% 5473.59万 25.52% 3.42% 10.49%
按产品 电力设备 2.56亿 64.33% 9477.55万 44.31% 87.53% 63.02%
数控设备 8097.43万 20.32% 6436.81万 30.10% 9.00% 20.51%
电力工程 6114.84万 15.35% 5473.59万 25.59% 3.47% 10.49%
按地区 国内 3.42亿 84.97% 1.90亿 88.68% 80.73% 44.32%
国际 6041.21万 15.03% 2427.37万 11.32% 19.27% 59.82%

董事会经营评述

  一、概述
  报告期内,公司实现营业收入40201.87万元,实现归属于上市公司股东的净利润4107.80万元,受市场环境的影响,公司的经营业绩受到一定程度的影响,其中电力设备业务基本保持稳定,电力工程业务受二季度光伏新政影响,公司加大了缩减光伏电力工程业务的力度,使得电力工程业务营业收入较去年同期减少约83%,减少净利润约4300万。数控设备业务国内市场需求较去年同期下滑,营业收入同比下降42.7%,净利润较上年同期减少约430万。此外,考虑到二季度市场资金环境变化,为确保能及时储备充足现金,公司提前安排发行了7亿元的债券,导致财务费用有所增加,减少净利润约560万。
  国际业务方面,... 查看全部▼

  一、概述
  报告期内,公司实现营业收入40201.87万元,实现归属于上市公司股东的净利润4107.80万元,受市场环境的影响,公司的经营业绩受到一定程度的影响,其中电力设备业务基本保持稳定,电力工程业务受二季度光伏新政影响,公司加大了缩减光伏电力工程业务的力度,使得电力工程业务营业收入较去年同期减少约83%,减少净利润约4300万。数控设备业务国内市场需求较去年同期下滑,营业收入同比下降42.7%,净利润较上年同期减少约430万。此外,考虑到二季度市场资金环境变化,为确保能及时储备充足现金,公司提前安排发行了7亿元的债券,导致财务费用有所增加,减少净利润约560万。
  国际业务方面,今年上半年公司持续加大海外营销投入,不断加强本地化营销和服务能力的建设,持续优化全球营销网络,深入拓展海外市场。尽管国际贸易环境存在较大不确定性,公司通过采取有针对性差异化的的区域策略,努力保持国际业务的稳健经营。
  报告期内公司完成了巴西资产购买项目的股权交割,其中首期投资款45,280,471美元现已支付。投资完成后,公司作为产业投资人,将与其它财务投资人通过在加拿大成立的合伙企业(TPG Seville Partners III, Limited Partnership)间接持有巴西主体公司(Seville Fundo de Investimento emParticipaes Multiestratégia)股权,并通过该主体公司,与持有目标公司股权的巴西资产公司(Seville Transmission Assessoria em Investimentos S.A.)对接。
  2018年6月29日实施"2017年度利润分配及资本公积金转增股本",公司以2017年12月31日总股本506,159,420股为基数,按每10股派发现金红利1.2元(含税),共分配现金股利60,739,130.40元(含税),不送红股,剩余未分配利润结转以后年度。同时进行资本公积金转增股本,以现有总股本506,159,420股为基数,以资本公积金转增股本,每10股转增5股,共计转增股本253,079,710股,转增后公司总股本为759,239,130股。
  报告期内公司完成了2018年面向合格投资者公开发行公司债券(第一期),本期债券为5年期债券,第3年末附发行人调整票面利率选择权及投资者回售选择权。本期债券发行采取网下面向合格投资者询价配售的方式,网下申购由发行人与主承销商根据簿记建档情况进行债券配售。本期债券最终发行规模为7亿元,最终票面利率为6.38%。

  二、公司面临的风险和应对措施
  1、汇率波动风险
  当前,公司国际化战略深化推进,公司国际业务收入所占比重将不断提升,由于结算货币以美元、欧元为主,存在汇率波动风险。为此公司将充分利用国家支持优势企业加快走出去的政策环境,积极采用合理的避险工具和产品,及时开展保理、福费廷、远期结售汇、汇利达、进出口押汇、海外代付等业务,通过选择合理结算币种、对人民币跨境结算试点地区业务尽量以人民币作为结算币种、利用国际信贷等多种方式降低汇率波动带来的风险。
  2、海外业务风险随着公司海外业务的不断开拓,因海外业务所在国政治经济格局变化引发的风险可能性在上升,可能会受到海外业务市
  场所在地的政治不稳、经济波动、自然灾害、合作方可能发生的商业争端等风险。公司将尽快熟悉并适应海外业务拓展地区的法律、政治体系和商业环境,关注相关法律法规和投资政策变动,在项目执行前进行充分调研,规避潜在风险。
  3、人才流失风险
  优秀的管理和人才团队是公司的核心优势之一,人才的重要性尤为突出。如果公司不能有效保持核心人员的激励机制并根据环境变化而不断完善,将会影响到核心人员积极性、创造性的发挥,甚至造成核心人员的流失。公司将更加重视对专业人才的培养,为员工制定培训计划,为人员提供锻炼机会、业务发展及职务晋升空间;从外部引进并保留与业务发展所需密切相关的技术及运营人才,重视企业文化的建设,增强员工对公司的归属感,提升员工的主人翁精神。
  4、产业政策风险
  我国发电企业上网电价受到政府的严格监管。2018年光伏"531"新政出台以来,整个光伏市场需求急速下降,国内光伏企业受到较大影响,这将对公司电力工程的发展带来一定的影响。针对上述风险,公司将把握国家产业发展政策,关注行业发展动态,不断调整产业结构,培育新的经济增长点,提升公司的经营业绩。

  三、核心竞争力分析
  (一)电力设备业务
  公司是国内分接开关市场的领军企业,具有二十多年分接开关的研发、生产经验,在行业中具有举足轻重的作用,已具备先进的工艺水平及全产业链的制造能力,其分接开关的制造技术成熟、完善,在行业内处于领先地位。
  1、公司是我国有载分接开关行业龙头供应商。领先的设备研发、生产工艺和试验检测能力,奠定了公司在我国出货量最大的分接开关供应商的市场地位,20多年来,公司以其产品良好的可靠性,在各电网公司中具备了较高声誉。
  2、拥有行业领先的技术实力。公司是目前国内唯一掌握特高压分接开关技术的企业。换流变压器是特高压直流输电系统的重要设备,随着特高压直流输电工程的进一步开展,与之配套的有载分接开关的可靠性直接决定了变压器能否安全可靠运行。公司在特高压直流换流变有载分接开关领域实现了自主开发、自主设计,扫除了特高压设备全面国产化的最后一个堡垒。
  3、全产业链的制造工艺。公司实现了从钢锭、铝锭、树脂和纤维等材料到最终产品的全产业链制造。公司分接开关产品中,超过80%的零件为非标件,均通过自有设备加工,以确保零件的加工精度。同时公司拥有自建的低压钢模精密浇铸系统,其致密性和机械强度比原工艺提高了50%。目前公司仅真空泡、电缆等少数零部件需外购。作为行业内唯一具备全产业链制造能力的供应商,公司产品质量多年来被客户广泛认可,保持着与国际同行相当的故障率水平。
  4、国内在网运行分接开关的数量最多。随着国家对电网的改革,电网公司运维业务采取市场化运作将成为趋势。凭借国内第一的在网运行分接开关数量,以及分接开关产品因技术难度大、可靠性要求高而通常由原厂提供维修服务的行业特点,公司在日益兴起的分接开关检修服务市场具有明显先发优势。
  (二)数控设备业务
  公司在数控成套加工设备领域深耕细作20余年,在产品性能、销售网络、售后服务、价格、市场认可度、品牌等方面与竞争对手相比具有明显优势。
  1、公司拥有专业的研发团队及老中青梯队建设,保证研发团队的经验与活力。明确产品开发项目负责制,以项目奖励方式推动新产品开发及老产品的升级换代,确保产品拥有较长的生命周期及稳定的产品性能。
  2、公司拥有庞大的销售网络体系,在国内分成若干营销大区,在国际分设东南亚、印度、南美、中东、欧美等销售区域,及时获取客户信息并做出反应。
  3、拥有完备的售后服务体系,公司根据国内与国际市场设立专业的售后服务团队,针对客户提出的需求及问题快速反馈与解决。
  4、公司产品与欧美、日本同类产品相比,虽然在加工精度方面存在差距,但价格优势明显,具备非常高的性价比。
  (三)电力工程业务
  经过近三年的运营,公司在电力工程业务领域逐步形成了自己的核心竞争力。
  1、无论是光伏电站承包业务还是集成变电站承包业务,均涉及电网公司以及众多的电力设备商,公司在电力领域深耕多年,积累了良好口碑,对客户需求理解较深,对项目风险点的把握较为全面,与电网公司、电力设备商之间沟通比较顺畅,这些都为项目的最终成功奠定了坚实基础。
  2、公司分接开关业务发展稳健,盈利能力强,负债率低,融资能力突出。由于电力工程业务所需资金量较大,公司能充分发挥融资成本低的优势,确保项目顺利开展并实现回款。
  3、公司电力工程业务与分接开关业务存在明显的战略协同关系。由于电力工程中需采购各种物料,如变压器、SVG、电缆等,此类物料供应商通常也是分接开关业务的客户,公司籍此与这些客户形成了更牢固的战略合作关系,有利于推动分接开关业务和电力工程业务同时健康增长。
  (四)电网运营业务
  公司通过全资下属子公司华明电网有限公司发起对Abengoa巴西公司持有的7家电力传输项目公司的收购。本次对外投资有利于充分调动各方积极性,发挥各自优势,将TPG的丰富经验和华明在电力设备领域的多年积累相结合,培育公司在电力产业领域业务点。 收起▲