Tongyu Heavy Industry issued the 2020 annual performance express: Net profit of RMB 380million reached a record high



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Tongyu Heavy Industry issued the 2020 annual performance express: Net profit of RMB 380million reached a record high

       On February 25, 2021, Tongyu Heavy Industry Co., Ltd. (hereinafter referred to as the "Company") released its 2020 annual performance report: it is expected to achieve a total revenue of 5.693 billion CNY in 2020, with a year-on-year growth of 41.35%; The net profit attributable to the shareholders of the listed company reached 380 million CNY, with a year-on-year growth of 61.80%. The two core indicators hit a record high! This is also the seventh consecutive year that the company's net profit has achieved positive growth since 2014, with an average annual compound growth rate of 30.62%. The company has significant strength in the middle and long distance running of the new energy equipment manufacturing track!

       In 2020, Tongyu Heavy Industry became a member of the big family of Zhuhai Port Group and set up a new benchmark of "state-owned capital in the Greater Bay Area + national mixed reform of private company in Shandong Province". It will set foot on a new starting point of rapid development and open a new chapter of "Centennial Tongyu Vision". Relies on the support of state-owned shareholders, under the correct leadership of the board of directors and board of supervisors, the general manager team lead all of Tongyu people resist the Covid-19 outbreak caused to keep factories and workers idle tide, macroeconomic downturn brought about by the adverse factors such as the severe test, actively seize the boom of wind power industry chain high opportunity, through flexible optimization adjustment of product structure, Deepening potential energy, innovating process, paying close attention to construction period and efficient delivery ensure the rapid market response of wind power main shaft and wind power casting products. It is expected that the company will sell 142,900 tons of wind turbine main shaft in 2020, with a year-on-year growth of 55.91%, cementing the leading position in the wind industry. Sales of wind turbine castings amounted to 125,400 tons, with a year-on-year growth of 101.48%, ranking among the major suppliers of wind power castings in China.

       Recently, the State Council issued the《guiding opinions of the State Council on accelerating the establishment and improvement of a green, low-carbon and circular economic system.》, clearly proposed to "enhance the utilization ratio of renewable energy and vigorously promote the development of wind power and solar power generation. As an important utilization form of clean energy, wind power is in a critical period of transformation from alternative energy to the main energy structure, and the prosperity of the industry is expected to continue to improve in the future. Recently, Tongyu heavy industry successfully issued shares to specific objects, and the shareholding ratio of Zhuhai Port Group increased to 20.34%;The flagship index FTSE Russell, the world’s second-largest international index compiling company, has included Tongyu Heavy Industries in its flagship index FTSE Global Stock Index series, which reflects the forward-looking strategic vision of international institutions and state-owned capital for the company's sustainable development ability in the new energy equipment manufacturing industry.

       In the era of wind power on grid at market price in 2021, the company will actively invest in the iteration of new energy equipment manufacturing technology, cost reduction and efficiency improvement, continue to consolidate the leading position of wind turbine main shaft, accelerate the promotion of market share of wind turbine castings, do a good job in the production system of wind turbine fabrication parts with high standard and high level, and with greater determination and courage to explore the "offshore market" and "overseas market" of wind power products. At the same time, the company will seize the important historical opportunity of promoting the implementation of the "national new energy strategy", make full use of the multi-level capital market resources under the registration system, and make full use of the company's advantages in the comprehensive R & D and manufacturing industrial platform to continue to promote the R & D and manufacturing of green energy equipment manufacturing fields such as wind power, hydropower, nuclear waste treatment and biomass power generation, Strive to achieve sustainable and healthy development and bring better returns to all shareholders.

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