[China Instrument Network Instrumentation Enterprise] Recently, Xintian Technology released its 2016 annual report, which announced that in 2016, the company achieved operating income of 506 million yuan, an increase of 32.97% year-on-year, and net profit attributable to shareholders of listed companies was 105 million yuan, a year-on-year increase of 32.45%. After deducting non-net profit, the net profit increased by 49.31% year-on-year, and the overall rapid growth. At the same time, the company announced the dividend distribution plan: A cash dividend of RMB 0.30 (tax included) will be distributed for every 10 shares.
16 years of high performance growth, 17 years is expected to accelerate growth
The company's performance in this period has accelerated since 2015, especially after the non-accrual growth rate reached 49.31%. This was mainly due to the further release of the company's production capacity in 2016, and significant breakthroughs in smart water, smart agricultural water-saving product markets, and smart gas meter business (already listed in China Resources, Hong Kong, Tianlun, Huayou, Chongqing, Shenyang, etc.) ). In addition, the company's newly incorporated subsidiary, Watt Electric, has a positive impact on the 2016 consolidated operating results.
At the same time, the company announced the first quarter performance forecast: change rate -10% to 10%, profit 14.9916 million yuan to 183.330 million, excluding Wante Electric Consolidated loss (industry seasonal reasons) part and two years comparable quarterly non-recurring Profits and losses, the company's actual comparable performance growth rate of 20.53% to 57.96%. At the same time, the company generally does not have a high proportion of annual sales in the first quarter, and smart agricultural orders have not yet been reflected. The subsequent full-year performance growth is expected to accelerate afterwards.
Smart Agriculture Saves Water, Smart Water, and Internet of Things Expands and Accelerates Company Growth
The company has sixteen years of operating experience in the water industry, and has reached cooperation in a number of projects in Hebei, Henan, Inner Mongolia, and Xinjiang, providing a good foundation for the company's smart agricultural water-saving cloud service platform. At the same time, the company integrates the Internet of Things, GIS geographic information and big data, cloud computing technology, and actively deploys smart water services. At present, the project is already in the promotion stage and is expected to become the company's next important point of view.
The company is expected to be the first to benefit from the development of the Internet of Things and maintain its “overweight†rating
The company is the first domestic listed company to cover four kinds of smart watch products. With the increase of the penetration rate of smart water meters, the continuous entry of gas meters into large companies, the increase in market share, the replacement of smart meters, and the resumption of reforms on the agenda, etc. The 2016 performance regains its growth and it is expected to accelerate growth in 2017. At the same time, the company actively laid out the smart meter reading system under the Internet of Things. At present, it has completed the docking of standards such as NB-IOT and Lora, and has the potential for platform-based companies in smart water, agriculture, and energy. It is expected that the company's net profit for 2017-2019 will be 1.69/2.59/361 million yuan, corresponding to 36/24/17 times P/E. The company is expected to be the first to benefit from the development of the domestic Internet of things, optimistic about the company's layout and maintain its “overweight†rating.
(Original Title: Xintian Technology 2016 Annual Report Comments: Rapid Growth, Expected to Continue to Benefit IoT Promotion)
Meniscus lens is a lens which has two spherical curved surfaces, convex on one side and concave on the other side. It is thicker at the center than at the edges. The lens provides a smaller beam diameter in order to reduce the beam waste and spherical aberration.
Positive meniscus lens is a convex-concave lens thicker at the center than at the edges. It is used to minimize spherical aberration. When used in combination with another lens, it will shorten the focal length, and increase the NA of system.
Negative meniscus lens is a convex-concave lens thinner at the center than edges. It increases the divergence of the beam without introducing any significant spherical aberration. When used in combination with another lens, it will increase the focal length and decrease the NA of the system.