無錫市滬安電線電纜有限公司介紹 英文

1CorporatePresentationMarch20212ThispresentationmaycontainstatementsregardingthebusinessofChinaHuAnCableHoldingsLtdanditssubsidiaries(the“Group〞)thatareofaforwardlookingnatureandarethereforebasedonmanagement’sassumptionsaboutfuturedevelopments.本項內(nèi)容能夠包含有關(guān)中國滬安電纜控股及其子公司〔集團(tuán)〕未來戰(zhàn)略和未來開展管理的想象。Suchforwardlookingstatementsaretypicallyidentifiedbywordssuchas‘believe’,‘estimate’,‘intend’,‘may’,‘expect’,and‘project’andsimilarexpressionsastheyrelatetotheGroup.Forwardlookingstatementsinvolvecertainrisksanduncertaintiesastheyrelatetofutureevents.Actualresultsmayvarymateriallyfromthosetargeted,expectedorprojectedduetovariousfactors.牽涉到集團(tuán)未來的想象內(nèi)容會以“以為〞“估計〞“意圖〞“能夠〞“希望〞或“方案〞等典型表述加以區(qū)分。因其牽涉到未來的事件，該內(nèi)容將具有一定的風(fēng)險性及不確定性。思索到各種要素實踐結(jié)果能夠與目的，料想或方案的內(nèi)容大相徑庭。Potentialrisksanduncertaintiesincludesuchfactorsasgeneraleconomicconditions,foreignexchangefluctuations,interestratecharges,commoditypricefluctuationsandregulatorydevelopments.SuchfactorsthatmayaffecttheGroup’sfuturefinancialresultsaredetailedinourlistingprospectus,listedinthispresentation,orinthemanagementdiscussionandanalysissectionofthecompany’sreportedresultandfilingwiththeSGX.Thereaderand/oraudiolisteneriscautionedtonotundulyrelyontheseforward-lookingstatements.Wedonotundertakeanydutytopublishanyupdateorrevisionofanyforwardlookingstatements.潛在風(fēng)險和不確定性要素包括例如國際經(jīng)濟(jì)環(huán)境，外匯動搖，利率，物價動搖以及監(jiān)管開展。這些影響集團(tuán)未來財務(wù)業(yè)績的要素將在我們的方案書，報告，管理討論中由公司研討部門報告并提交給SGX〔新加坡證券買賣所〕。報告讀者不應(yīng)過度依賴方案內(nèi)容。本公司不能保證出版這些方案的更新或修正內(nèi)容。CautionaryNoteonForward-LookingStatements免責(zé)聲明3Content目錄InvestmentMerits投資價值BusinessOverview企業(yè)概貌FinancialOverview財務(wù)情況Prospects遠(yuǎn)景PeerComparison同行比較InvestmentMerits投資價值5InvestmentMerits投資價值ChinaHuAnprovidesinvestorswithexposuretothegrowingpowerinfrastructureandrenewableenergiessectorinChina中國滬安將公布給投資人中國電力根底設(shè)備的以及新能源部門的開展情況。China’srapideconomicgrowthandincreasinginfrastructureinvestmentbythegovernmentwillunderpinrobustdemandfortheGroup’scableandwireproducts中國經(jīng)濟(jì)的迅猛開展和中國政府對電力根底設(shè)備的大力投資將會極大的推進(jìn)對集團(tuán)電纜電線產(chǎn)品的需求。Extensivesalesanddistributionnetworkwithover4,000customersacross24provincesandcitiesinChina擁有廣泛的銷售網(wǎng)點和銷售網(wǎng)絡(luò)，超越4000家客戶橫跨中國24個省市。Penetrationintothehigh-endcablesmarketsegmentwillboosttheGroup’sprofitability進(jìn)入高端電纜市場將極大的促進(jìn)集團(tuán)利益增長LowPEcomparedtoChina-listedpeersandotherSGX-listedS-chips*跟中國同類公司以及SGX其它龍籌股相比更低的PE〔市盈率〕*CIMB-GKResearchBUSINESSOVERVIEW企業(yè)概貌7CHINAHUANCABLEisoneoftheTop10CableandWireManufacturersinChina滬安電纜是中國排名前十的電線電纜制造企業(yè)ClientelefocusedonChina’sinfrastructure,construction,transportandenergysectors,includingbellwethercompaniese.g.StateGridCorporationofChina;participationinimportantstateprojects客戶主要集中于根底設(shè)備，工程制造，運輸以及能源部門，包括了類似于中國國家電網(wǎng)公司在內(nèi)的許多行業(yè)內(nèi)龍頭企業(yè)，參與了許多國內(nèi)重要的工程Strongbrandrecognitioninmarket,backedbystrongR&D,reliableproductqualityandpossessionofwiderangeofaccreditations較強(qiáng)的市場品牌認(rèn)知度，以科研技術(shù)為支撐，依托高質(zhì)量的產(chǎn)品博得了廣泛的信任。Basedincable/wirehubofChina,Yixing(JiangsuProvince),easyaccesstolargepoolofrawmaterials依托宜興〔中國江蘇〕電線電纜中心，較易大量貯藏原資料。Introduction企業(yè)引見8IntegratedBusinessModel整合產(chǎn)業(yè)鏈Asanintegratedcable/wiremanufacturer,ChinaHuAnisabletoachieveconsistentqualitywithlowermanufacturingcostsandhigheroverallmargins作為一家綜合的電線電纜消費商，中國滬安可以以更低的本錢堅持一直如一的質(zhì)量，獲取更大的利潤ProductionandsaleofCopperRods銅資料的消費銷售ShenhuanCopper申環(huán)銅業(yè)Productionandsaleofplasticcablematerials塑料電纜原料消費銷售ShenhuanManufacturing申環(huán)塑業(yè)ProductionandsaleofAluminiumRods鋁資料的消費銷售ShenhuanAluminium申環(huán)鋁業(yè)Productionandsaleofbroadrangeofcablesandwires電線電纜的消費和銷售WuxiHuAn無錫滬安Researchanddevelopmentofproducts,materials,designandtechnology進(jìn)展產(chǎn)品，原料，等技術(shù)的研發(fā)HuAnResearchCenter滬安研討中心9OperationsModel運營方式10ProductRange產(chǎn)品范圍BASIC低端LowtoMid-VoltagePowerCables低壓到中壓電纜Powergrid,generationplants,factories,largebuildings電網(wǎng)，發(fā)電站，工廠，大樓AerialCables架空電纜Insulatedanduninsulated;longdistanceandhigh-voltagepowertransmission絕緣非絕緣;遠(yuǎn)間隔高壓傳輸PlasticInsulatedWires塑料絕緣線Low-voltagepowerdistributionandelectricaldevices低壓電氣設(shè)備ControlCables控制電纜Low-voltagecontrolsystems低壓控制系統(tǒng)RubberSheathInsulatedCables橡膠護(hù)套絕緣電纜Mining,shipping,movablemachinery礦用，船用，挪動，機(jī)械SpecialWires&Cables特殊電線電纜Customisedwithspecialcharacteristicsforhighlyspecialisedindustries按客戶要求制造專業(yè)的特殊電纜MID-RANGE中段HIGH-END高端Ultra-HighVoltageCables超高壓電纜TheGroupisdevelopingcapabilitiesinthisarea集團(tuán)正努力于該領(lǐng)域的開發(fā)11ProductionFacilities消費配備Integratedproductionfacilities完好的消費設(shè)備Companyhasbeenconsistentlyincreasingproductioncapacityyearly公司不斷地擴(kuò)展產(chǎn)能Possessestechnologyforlarge-dimensionorultra-longproducts掌握大規(guī)格和超高壓電纜產(chǎn)品技術(shù)Alsopossessestechnologyforhighlyspecificcustomisation同時掌握高技術(shù)特殊定制規(guī)格電纜技術(shù)12Output產(chǎn)量FY2006FY2007FY2008FY2009Cable電纜16,820km18,310km23,320km45,792kmWire電線39,727km32,124km55,122km52,135kmCopperRods銅--8,224t4,225tAluminiumRods鋁--7,902t5,549tPlasticMaterials塑料--4,314t9,098t13ProjectTrackRecord參與工程14CustomerBase客戶范圍Widecustomerbaseofover4,000companiesinpowerinfrastructureandotherindustries在電力設(shè)備和相關(guān)行業(yè)擁有超越4000家的客戶資源Extensivesalesnetworkacross24provincesandcitiesacrossthePRC,suchasJiangsu,Shanghai,Zhejiang,AnhuiandHubei在全國包括江蘇，浙江，安徽，湖北等24個省市擁有廣泛的銷售網(wǎng)絡(luò)BetweenFY2006toFY2021,over70%oftotalsalesweregeneratedfromrepeatcustomers2006到2021財年，70%的銷售來自于回頭客15Inadditiontotheabove,theGrouphasalsoobtainedvariousqualificationsandaccreditationswhichcertifythatitsproductsareincompliancewithrequisiteindustrystandardsforuseincertainindustries,suchaspowergeneration,powersupply,communications,ship-building,realestate,andcoalmining.Itisalsoaqualifiedsuppliertoseveralmajorcompaniesintheinfrastructuresector.此外，集團(tuán)還獲得了各類認(rèn)證和資質(zhì)，產(chǎn)品符合各行業(yè)的規(guī)范，例如發(fā)電，供電，電訊，造船，房地產(chǎn)以及煤礦。同時本公司還是一些主要根底設(shè)備部門的供應(yīng)商。BrandQuality品牌資質(zhì)16R&DCapabilities研發(fā)才干OurR&Ddepartmentisrecognisedbystateashigh-advancedtechnologyenterprise研討部門被授予國家高新技術(shù)企業(yè)ConsistentlydevelopedandintroducednewproductstothemarketAbout10newproductsperyearonaveragesince2006一向以來向市場引進(jìn)新產(chǎn)品自2006年以來每年超越10項新產(chǎn)品Newlydevelopedproductshavebeensuccessfullycommercialisedinvariousindustrialsectorsalternativepowergeneration,petrochemicals,shipbuilding,aviation,mining,etc新開發(fā)產(chǎn)品勝利的在多個行業(yè)實現(xiàn)商業(yè)化新能源發(fā)電，石油化工，造船，航空，礦用等。WonnumerousawardsforitsR&Dcapabilities11patents+additional12patentapplicationsacceptedforfurtherreview博得多項科研獎項11項專利以及12項專利懇求已受理Wellsupportedbygovernment,recognisedunderthe“StateTorch〞programmeandtie-upswithhigherlearninginstitutes政府大力支持，參與國家火炬方案與多家科研單位協(xié)作17Leadingintegratedcableandwiremanufacturerwithstrongbrandname(“ShenHuan〞)商標(biāo)品牌〔申環(huán)〕在電纜電線行業(yè)處于領(lǐng)軍位置Establishedcustomerbaseandwidesalesanddistributionnetwork建立了廣泛的客戶資源和銷售網(wǎng)絡(luò)Over4,000customersacross24provincesandcitiesinChina橫跨全國24個省市超越4000家客戶Extensiveaccreditationsandstrongtrackrecord多個認(rèn)證資質(zhì)和優(yōu)秀的業(yè)績allowstheGrouptosecuresaleswithestablishedcustomersandpenetrateintospecializedsectors保證集團(tuán)獲得客戶資源進(jìn)入特殊部門Involvementinvariousmajorprojects,eg.2021OlympicsGames參與各類主要工程，例如2021北京奧運會StrongR&Dandproductdevelopmentcapabilities強(qiáng)大的科研開發(fā)才干Introducedanaverageof10productsperyear平均每年引進(jìn)10種新產(chǎn)品Growingportfolioofpatents專利產(chǎn)品不斷增多Experiencedandcommittedmanagementteam閱歷豐富穩(wěn)定的管理團(tuán)隊SummaryofKeyStrengths總結(jié)主要優(yōu)勢FINANCIALOVERVIEW財務(wù)概略19RMBmillionRevenueCAGR年收益增長率20.3%NetProfitCAGR年凈利潤增長率42.7%GPM15.5%15.9%15.9%17.6%NPM5.8%5.7%6.7%9.7%Revenue&Profitability銷售及利潤率GrowthFactors增長要素-Higherproportionofhigher-margin高增長比率products產(chǎn)品-Rawmaterialpricecontrol原資料價錢控制Lowerfinanceexpenses低財政支出Taxincentives捐稅鼓勵20RevenueBreakdown銷售額劃分FY2021RevenuebyProduct*2021財年產(chǎn)品收益FY2021RevenuebyEndIndustries2021財年高端產(chǎn)業(yè)*PriortoFY2021,allrevenuewasderivedfromcableandwireproductsonly2021財年利潤全部來自于電纜電線**Otherindustriesincludecement,electronics,machinery,andfactoriesengagedinahostofproductionactivities其它行業(yè)包括水泥，電子，機(jī)械等制造業(yè)。21(RMBmillion)Asat31Dec09Asat31Dec08CurrentAssets流動資產(chǎn)732.99559.23Non-CurrentAssets固定資產(chǎn)161.22145.29TotalAssets總資產(chǎn)894.21704.52CurrentLiabilities流動負(fù)債469.75482.07Non-CurrentLiabilities固定負(fù)債0.901.93TotalLiabilities總負(fù)債470.65(1)484.00TotalEquity全部股本423.56220.53BalanceSheetHighlights資產(chǎn)負(fù)債表NetGearing(2)

凈獲利比率35%114%QuickRatio速動比率120%104%CurrentRatio

流動比率156%116%Totalborrowingsasat31Dec2021approxRMB317million到2021年13月31日總貸款將近人民幣317百萬〔2〕Netgearingisdefinedastotalborrowingstoequity,netofcash凈獲利比率是總借款凈資PROSPECTS遠(yuǎn)景23Electricalpowerindustryaccountsfornearly40%ofPRC’selectricalpowercablesusedinthePRC電力工業(yè)占中國電纜運用消費的40%ElectricalpowercablesarewidelyusedinvariousfieldsinthePRCandhavebeendescribedasthe“bloodvessels〞or“nervoussystem〞ofthenationaleconomy–beingthelargestsupportingindustry電力電纜被廣泛運用，被稱為中國經(jīng)濟(jì)的動脈神經(jīng)，為最大的支柱產(chǎn)業(yè)Productshavetofulfiltechnicalrequirementsandpriceperformanceratiospecificationstosatisfytherisinglivingstandards產(chǎn)品滿足了不斷提高的技術(shù)和性能要求Electricpowercablesarewidelyappliedinvariousindustries,suchasenergy,transportation,communication,automotiveandpetrochemical.電力電纜在各行業(yè)廣泛運用，如能源，運輸，通訊，自動化，石油化工。The5ProductCategoriesofElectricalPowerCableIndustry5大電纜產(chǎn)品ElectricalPowerCables–KeytoNationalEconomicGrowth電力電纜—國家開展的關(guān)鍵Source:Informationextractedfromanindustryreportentitled“ElectricalPowerCableIndustry/China〞preparedbyConvergingKnowledgeIndustryOutlook行業(yè)前景24ThePRC'selectricalpowercableindustryhasgrownatanaverageannualrateofover15%inthepast15years過去15年中國電纜行業(yè)平均每年增長15%Theindustryisexpectedtogrowatarateofover10%inthenextfewyears.Itisreportedthattheaverageannualgrowthrateinthepowercablesegmentcanbeashighas15%.未來幾年中估計增長率為10%。有報道稱最高年增長率可達(dá)15%。15%10%Source:Informationextractedfromanindustryreportentitled“ElectricalPowerCableIndustry/China〞preparedbyConvergingKnowledgeIndustryOutlook行業(yè)前景25KeyGrowthDrivers主要增長動力ContinuedgrowthofpowerinfrastructureinChina根底設(shè)備投資的繼續(xù)增長Continuedurbanisation城市化的不斷推進(jìn)Governmentmandateforpowercablestogoundergroundincities政府進(jìn)展電力電纜埋地改造BoostfromRMB4trillionstimulusplan推進(jìn)4萬億鼓勵方案Increasingfocusonrenewableenergies推進(jìn)新能源戰(zhàn)略2626ExpandProductRangeAcrossMultipleIndustries產(chǎn)品設(shè)計多個行業(yè)IncreaseProductionOutput增長的產(chǎn)能GrowthStrategy增長戰(zhàn)略PenetrateIntohigh-end

cablemarket進(jìn)入高端電纜市場2627360Km300Km1newworkshopand2productionlinesforfire-resistancespecialcablesofratedvoltageof110kVand220kV一個新的消費工廠和2條消費額定電壓為110kv和220kv的特殊耐火線消費線1newworkshopand2productionlinesforultra-highvoltagepowercablesofratedvoltageabove500kV一個新的消費工廠和2條消費額定電壓為超越500KV的超高壓電纜消費線1newproductionlineforflexiblespecialcableswithenhancedfire-resistantattribute一條加強(qiáng)型耐火可彎曲電纜消費線1productionlineforfire-resistantpowercableaccessories一條耐火電力電纜配件消費線600Km2,500Km1milsetsFuturePlans未來方案Expandproductioncapabilitiesinhigh-endcablemarketStrengthenR&Dcapabilities強(qiáng)力的研發(fā)才干Continueexpandingcapabilitiestobetteraddressneedsfromhigh-endandspecialisedsectors不斷加強(qiáng)對高端特種電纜的研發(fā)EstimatedAnnualProductionCapacityExpandbusinessthroughM&AsorJVsinYear2021inYear202128NewProductionFacilities新消費配備Ultra-HighVoltageXLPECables超高壓交聯(lián)聚乙烯電纜29Full-ScreenTestingHall全屏測試廳NewProductionFacilities新消費配備3