Zhejiang Jinggong Science & Technology Co., Ltd (002006.SZ) Bundle
A Brief History of Zhejiang Jinggong Science & Technology Co., Ltd
Zhejiang Jinggong Science & Technology Co., Ltd, established in 1988, has evolved as a prominent player in China's machinery manufacturing sector, particularly focusing on the production of equipment for photovoltaic (PV) and related renewable energy industries.
In the early 2000s, the company made significant strides toward expanding its technological capacity and product offerings. By 2004, Jinggong launched its first automatic solar cell manufacturing line, which marked a pivotal moment in its technological advancement. This initiative allowed the company to establish a strong foothold in the rapidly growing solar energy sector.
Jinggong went public in 2011, listing on the Shenzhen Stock Exchange under the ticker symbol 002006. In its IPO, the company raised approximately 1.1 billion RMB (around 170 million USD), which was utilized for research and development as well as expanding production capacity.
As of the financial year 2022, Zhejiang Jinggong reported a revenue of 5.52 billion RMB (approximately 830 million USD), indicating a growth of 25.1% year-on-year. The net profit attributable to shareholders was approximately 700 million RMB (around 105 million USD), reflecting a remarkable increase from the previous year.
| Year | Revenue (RMB) | Net Profit (RMB) | Key Developments |
|---|---|---|---|
| 2011 | 1.1 billion | 160 million | Completed IPO on Shenzhen Stock Exchange. |
| 2015 | 2.5 billion | 250 million | Expanded solar cell production capacity. |
| 2019 | 4.4 billion | 620 million | Focus shifted toward advanced manufacturing technologies. |
| 2022 | 5.52 billion | 700 million | Increased market share in PV equipment. |
By 2023, Zhejiang Jinggong plans to invest approximately 500 million RMB in upgrading its production facilities to enhance efficiency and reduce operational costs. This commitment aligns with the company's strategy to maintain competitiveness in an increasingly crowded market.
Internationally, Jinggong has expanded its footprint, exporting its machinery to over 30 countries, including the United States, Germany, and Japan. The company's global sales accounted for nearly 35% of its total revenue in 2022, a clear indicator of its successful international strategy.
In recent years, Zhejiang Jinggong has also emphasized the importance of sustainability. The company has invested in research focusing on green technologies, aiming to reduce carbon footprints in its manufacturing processes. In 2021, Jinggong received recognition from the Chinese government for its efforts in promoting renewable energy solutions.
As of late 2023, the stock price of Zhejiang Jinggong is approximately 22.5 RMB, reflecting a year-to-date increase of 40%. The market capitalization stands at around 15 billion RMB (approximately 2.25 billion USD). Investors are increasingly attracted to the company's growth potential within the renewable energy sector.
Overall, Zhejiang Jinggong Science & Technology Co., Ltd continues to leverage its technological advancements and expanding market reach to solidify its position as a leader in the renewable energy machinery sector.
A Who Owns Zhejiang Jinggong Science & Technology Co., Ltd
Zhejiang Jinggong Science & Technology Co., Ltd is a publicly traded company incorporated in China, primarily known for its involvement in the manufacturing of solar energy equipment and advanced technologies. As of the most recent data available in 2023, the ownership structure of Zhejiang Jinggong Science & Technology reveals a significant concentration of shares among major stakeholders.
| Shareholder | Ownership Percentage | Number of Shares Owned | Type of Shareholder |
|---|---|---|---|
| Jinggong Group Co., Ltd. | 39.12% | 204.63 million | State-owned Enterprise |
| China Investment Corporation | 10.45% | 55.08 million | Sovereign Wealth Fund |
| Shenzhen Qianhai Zhonghang Technology Co., Ltd. | 5.67% | 30.00 million | Private Company |
| Other Institutional Investors | 20.76% | 110.62 million | Institutional Investors |
| Public Float | 24.00% | 126.68 million | Retail Investors |
As per the latest stock market disclosures, Zhejiang Jinggong has a total issued share capital of approximately 523.00 million shares. The market capitalization of the company stands around ¥10.8 billion (approximately USD 1.68 billion). The company's shares are listed on the Shenzhen Stock Exchange under the stock code 002006.
Recent financial reports indicate that Zhejiang Jinggong posted a revenue of ¥5.12 billion (around USD 799 million) for the fiscal year 2022, showing a year-on-year increase of 12.3%. The net profit attributable to shareholders for the same period was reported at ¥900 million (approximately USD 140 million), indicating a profit margin of about 17.6%.
In terms of governance, the board of directors comprises several key figures in the industry. The chairman, Mr. Wang Jian, has extensive experience in engineering and solar technology, steering the company towards significant market growth.
For further insight into their recent stock performance, as of October 2023, Zhejiang Jinggong's stock price is around ¥20.70 per share, with a price-to-earnings (P/E) ratio of 12.3. The company has also maintained a dividend yield of approximately 2.5%, appealing to income-focused investors.
Zhejiang Jinggong Science & Technology Co., Ltd Mission Statement
Zhejiang Jinggong Science & Technology Co., Ltd focuses on providing advanced manufacturing solutions, particularly in the sectors of industrial equipment and renewable energy. The company's mission statement emphasizes innovation, sustainability, and customer satisfaction. Their objective is to leverage cutting-edge technology to improve operational efficiency while minimizing environmental impact.
The company aims to achieve this through a commitment to research and development, focusing on the solar photovoltaic industry and equipment manufacturing. As of 2022, Jinggong reported revenue exceeding RMB 5 billion, driven by its strong market presence and product offerings.
Core Values
- Innovation: Continuous investment in R&D, with expenditures amounting to approximately 10% of total revenue.
- Sustainability: Commitment to eco-friendly practices, targeting a reduction in carbon emissions by 20% by 2025.
- Customer Satisfaction: Maintaining a customer satisfaction rate of over 90% as per internal surveys.
Financial Performance Overview
| Financial Metric | 2022 Amount (RMB) | 2021 Amount (RMB) | Growth Rate (%) |
|---|---|---|---|
| Revenue | 5,200,000,000 | 4,800,000,000 | 8.33% |
| Net Income | 450,000,000 | 400,000,000 | 12.5% |
| Total Assets | 6,500,000,000 | 6,200,000,000 | 4.84% |
| Shareholder Equity | 2,000,000,000 | 1,800,000,000 | 11.11% |
Recent Developments
As of 2023, Zhejiang Jinggong has expanded its production capacity by 30%, aiming to meet the increasing demand in the renewable energy sector. The company has also entered into strategic partnerships with global technology firms to enhance its product offerings.
Furthermore, Jinggong's investments in automation are projected to reduce production costs by 15% over the next three years, enhancing competitive advantage in the market.
Market Position
According to industry analyses, Zhejiang Jinggong ranks among the top five manufacturers of solar photovoltaic equipment in China, holding approximately 15% market share as of 2022. This position is attributed to its robust product line and commitment to quality, which has earned it a reputable standing within the industry.
How Zhejiang Jinggong Science & Technology Co., Ltd Works
Zhejiang Jinggong Science & Technology Co., Ltd specializes in the manufacturing of equipment for the photovoltaic (PV) industry, focusing on solar power. Operating under the stock code 601369 on the Shanghai Stock Exchange, the company plays a significant role in the renewable energy sector.
As of the most recent financial data available for the fiscal year ending December 31, 2022, Zhejiang Jinggong reported a revenue of approximately ¥5.45 billion, reflecting a year-over-year increase of 12.3%. The company’s net income for the same period stood at around ¥600 million, with a net profit margin of approximately 11%.
| Financial Metrics | 2022 | 2021 | Year-over-Year Growth |
|---|---|---|---|
| Revenue | ¥5.45 billion | ¥4.85 billion | 12.3% |
| Net Income | ¥600 million | ¥480 million | 25% |
| Net Profit Margin | 11% | 9.9% | 1.1% |
The company operates across various segments including solar cells, photovoltaic systems, and related machinery. Production facilities are mainly located in Zhejiang Province, where advanced manufacturing technologies are employed. In 2023, the company announced plans to invest ¥1 billion in expanding its manufacturing capacity to meet growing demand in the renewable energy sector.
In terms of market positioning, Zhejiang Jinggong holds a substantial market share in the domestic PV equipment market, estimated at around 15%. Its products are primarily distributed through a network of partnerships with solar energy developers both locally and internationally.
On the stock market, as of October 2023, Zhejiang Jinggong's shares traded at approximately ¥25.30, exhibiting a growth of 18% over the past 12 months. The price-to-earnings (P/E) ratio is currently at 20.5, which is competitive given the industry average of 22.3.
In terms of R&D investment, the company allocated around ¥300 million in 2022 which represents about 5.5% of its total revenue, focusing on enhancing the efficiency of solar cells and minimizing production costs.
Zhejiang Jinggong also emphasizes sustainability in its supply chain, partnering with local suppliers who adhere to stringent environmental regulations. This approach not only helps in maintaining compliance but also enhances the company’s reputation in the growing green economy.
Looking at the company’s future outlook, analysts have projected an annual growth rate of approximately 10% to 15% for the next five years driven by increasing global demand for solar energy and supportive governmental policies promoting renewable energy sources.
The company has also been expanding its international footprint, with recent sales contracts signed in markets like Europe and Southeast Asia. This strategic move shows a commitment to enhancing its global presence amid an expanding industry landscape.
How Zhejiang Jinggong Science & Technology Co., Ltd Makes Money
Zhejiang Jinggong Science & Technology Co., Ltd, primarily operates in the manufacturing and distribution of solar energy equipment, specifically photovoltaic (PV) modules and related technologies. The company has diversified revenue streams including equipment sales, technology services, and maintenance services, which significantly contribute to its overall income.
For the fiscal year 2022, Zhejiang Jinggong reported total revenue of approximately RMB 16.5 billion (around $2.45 billion), reflecting an increase of 18.2% year-over-year. The growth can be credited to the increased global demand for renewable energy solutions and the company’s enhanced production capabilities.
The following table summarizes the revenue breakdown by segment for the year 2022:
| Revenue Segment | Revenue (RMB billion) | Percentage of Total Revenue |
|---|---|---|
| PV Modules Sales | 12.0 | 72.7% |
| Equipment Sales | 3.5 | 21.2% |
| Technology Services | 0.8 | 4.8% |
| Maintenance Services | 0.2 | 1.3% |
The company has also made significant investments in research and development (R&D), allocating around RMB 800 million (approximately $120 million) in 2022, representing about 4.8% of total revenue. This investment aims to enhance the efficiency and effectiveness of solar technologies, which is crucial for maintaining competitiveness in the rapidly evolving renewable energy sector.
In terms of geographical revenue distribution, Zhejiang Jinggong has expanded its market presence beyond China. In 2022, the company generated about RMB 3 billion (around $450 million) in revenue from international markets, which constituted approximately 18.2% of total revenue. Major markets include:
- Europe: RMB 1.5 billion
- North America: RMB 1 billion
- Asia-Pacific (excluding China): RMB 0.5 billion
The company’s gross profit margin stood at 25% in 2022, reflecting operational efficiency amid fluctuating raw material costs. Furthermore, Zhejiang Jinggong achieved a net profit of approximately RMB 2 billion (around $300 million), with a net profit margin of 12.1%. This profitability demonstrates the company's ability to manage costs effectively while capitalizing on growing market opportunities.
Recent contracts and partnerships have also bolstered the company’s revenue pipeline. For instance, a strategic partnership with a leading European energy firm is expected to generate additional revenues of around RMB 500 million (approximately $75 million) over the next three years, enhancing their visibility and market penetration in Europe.
Overall, Zhejiang Jinggong Science & Technology Co., Ltd leverages its core competencies in solar technology manufacturing and R&D to capture significant market share, ensuring sustainable revenue growth in the renewable energy sector.
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