On July 15, Giant Wheel Intelligent Equipment Co., Ltd. released the first half of the year's performance forecast. It is expected that the first half of the year will be 6.188 million yuan - 12.377 million yuan, down 60%-80%.
According to the company's forecast analysis, there are three reasons:
1. Declining product sales revenue: (1) Some customers' project construction progress has been postponed, and the number of finished products that have not been delivered by the end of the period has increased, resulting in a decrease in the corresponding confirmed revenue in the current period; (2) Due to the fluctuation of orders, some products are in the current period. The gross profit margin of sales decreased.
2. The government subsidy included in the current profit and loss has decreased.
3. Some subsidiaries adjusted the product structure in view of market changes. During the adjustment period, the operating income was less, and the cost of human resources, depreciation of plant and equipment, and amortized cost of intangible assets occurred normally, resulting in lower than expected operating results.
The total revenue of Giant Wheel Intelligence in 2018 was 1.401 billion yuan, a year-on-year increase of 21.36%; the net profit attributable to shareholders of listed companies was 56.216 million yuan, down 11.75% year-on-year.
According to the data, Giant Wheel Intelligence was founded in 1992. It is the first company in the world to develop tire molds, tire vulcanizers, industrial robots and precision machine tools.