In the first half of the year, CETC's revenue increased by nearly 12%, and R&D investment was close to net profit
Securities Times reporter Li Yingquan
On August 22, China Electric Power Research Institute (688128) released its 2023 half-year report, and the company achieved operating income of 1.844 billion yuan, a year-on-year increase of 11.94%; The net profit attributable to the parent was 185 million yuan, a year-on-year increase of 10.94%; The net profit attributable to the parent after deduction was 165 million yuan, a year-on-year increase of 19.19%.
In terms of quality and technical service business, during the reporting period, the company built a total of 9 laboratories such as active medical devices, automotive electronic components, and photovoltaic inverters; Domestic Jiaxing new energy testing base, Qingdao testing base and Huadu testing base have been put into operation. By the end of the reporting period, the company has set up 9 large-scale comprehensive testing bases, 7 typical climate test stations and 20 service outlets in 7 countries and 35 cities around the world, with a total laboratory area of more than 120,000 square meters.
In the field of intelligent vehicles, CETC has been recognized by the testing project of high and low voltage wiring harness and electronic control components of ideal automobile, the electronic and electrical testing laboratory of Jiangling Motors, and the corrosion and photoaging project of FAW Hongqi and Jiangling Motors. NEW EMC PROJECTS SUCH AS FAW HONGQI, HECHUANG, TESLA, VINFAST, JOHN DEERE, AND SAIC L3 WERE ADDED. At the same time, Shanghai Weikai Company was recognized by SAIC-General Motors (SGM) GP10 third-party laboratory, and Jiaxing Company was authorized to test interior and exterior coatings of NIO's Alps brand.
During the reporting period, the company also became the carbon emission verification and evaluation agency of Guangdong carbon market and national carbon market emission control enterprises, and successfully developed a number of well-known customers at home and abroad.
In terms of complete equipment business, CETC continued to expand its overseas market share, increase its efforts to develop new markets for home appliance production lines in Central America, and continue to consolidate its business foundation in India, North Africa and Turkey. At the same time, it will further expand the new track of growth, first, continue to further promote the development and application of the frame welding automatic production line project of new energy vehicle manufacturing enterprises, the comprehensive testing and test equipment project of new energy vehicle thermal management, and successfully develop Chongqing Changan, Great Wall Motor, Jiangling Motors and other car companies, and the customer base continues to expand; The second is to sign a general contracting contract for intelligent painting plants with international leading motorcycle enterprises to further enhance the company's industry influence in the field of two-wheeler coating equipment.
In terms of environmental protection coatings and resin business, as one of the two major suppliers of CIMC in the world, the application of polyester resin independently developed by CETC in container powder coatings has been continuously promoted. Powder coating labels are about CITIC Dicastal's 2023 group procurement project, further consolidating the market share of wheel base powder; Promote the layout of new energy and energy storage tracks, independently developed battery insulating flame retardant powder coating and energy storage cabinet anti-corrosion super weathering powder coating application in the field of new energy battery and energy storage continue to strengthen, consolidating the status as a qualified supplier of CATL, BYD and other companies; The newly developed waterborne wheel paint has successfully passed BYD's test, and will soon replace the traditional solventborne coating to start mass application.
In terms of R&D, CETC's R&D investment in the first half of the year was 148 million yuan, a year-on-year increase of 17.14%, which was close to the net profit in the same period. The company continues to strengthen the construction of scientific research platform, and the National Key Laboratory of Environmental Adaptability of Industrial Products has achieved good scientific research results in the face of major national strategies such as "advanced industrial foundation", "marine power" and "equipment going global".
