providing entrusted loans to state-owned enterprises many times, this listed company's semi-annual report shows that it is "not short of money"
2024-09-20
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on september 19, haomai technology (002595.sz) issued an announcement stating that the company plans to use temporarily idle self-owned funds to provide a trust loan of no more than 200 million yuan to gaomi gaoxing water conservancy construction engineering co., ltd. (hereinafter referred to as "gaoxing water conservancy") through an entrusted bank.
the economic herald reporter noted that haomai technology has been providing entrusted loans to local state-owned enterprises for many years. at the same time, financial report data shows that haomai technology has sufficient funds and its performance is also "brilliant".
provided entrusted loans to state-owned enterprises on many occasions
the announcement shows that this entrusted loan is issued in one installment, with a maturity date of august 14, 2025, an annual interest rate of 8.30%, and interest is settled monthly. gaomi huarong industrial development co., ltd. provided a joint and several liability guarantee for the entrusted loan.
gaoxing water conservancy was established in october 2020 with a registered capital of 100 million yuan. the controlling shareholder is gaomi state-owned assets operation center. the general business scope includes water conservancy-related consulting services; soil and water loss prevention and control services; engineering management services; research and development of unconventional water source utilization technology; and sales of machinery for construction projects. the business scope license project is construction engineering. the loan will be used to supplement gaoxing water conservancy's working capital.
haomai technology said that the company is currently operating well, with a sound financial situation and sufficient operating cash flow. the use of idle self-owned funds for entrusted loans is carried out under the premise of ensuring liquidity and fund security, and will not affect the company's normal daily fund turnover needs or the normal development of the company's main business. at the same time, it is conducive to improving the efficiency of the use of the company's own funds and increasing the company's benefits.
the economic herald reporter learned that in 2023, haomai technology provided financial assistance to gaoxing water conservancy three times. on august 24, 2023, haomai technology provided gaoxing water conservancy with a trust loan of no more than rmb 50 million; on october 20, 2023, the company provided gaoxing water conservancy with a trust loan of no more than rmb 200 million; on november 3, 2023, the company provided gaoxing water conservancy with a trust loan of no more than rmb 200 million.
the economic herald reporter checked the company's announcement and learned that as early as 2015, haomai technology had provided entrusted loans to local state-owned enterprises. in november 2015, haomai technology used its temporarily idle self-owned funds to provide gaomi state-owned assets management co., ltd. with an entrusted loan of no more than rmb 300 million through a entrusted bank. the loan term was 3 years, and the loan interest rate was not less than 130% of the bank's benchmark loan interest rate during the same period, and the interest was settled monthly.
in the following years of 2018, 2020, 2021, 2022 and 2023, haomai technology disclosed announcements of providing entrusted loans to local state-owned enterprises, and the borrowers repaid the loans on time.
according to the announcement, after this provision of financial assistance, the total balance of financial assistance provided by haomai technology is 450 million yuan, accounting for approximately 5.22% of the company's latest audited net assets (2023); the total balance of financial assistance provided by the company and its holding subsidiaries to units outside the consolidated financial statements is 450 million yuan, accounting for approximately 5.22% of the company's latest audited net assets (2023).
financial report shows "no shortage of money"
having provided entrusted loans to state-owned enterprises on many occasions, haomai technology has the financial and performance support.
public information shows that haomai technology was established in march 1995 and is registered in weifang gaomi. it is a well-known domestic auto parts manufacturer. the company was formerly the machine repair workshop of gaomi no. 1 textile machinery factory. in 2001, the company officially entered the tire mold manufacturing field and was listed on the shenzhen stock exchange main board in 2011.
the semi-annual report shows that haomai technology still has sufficient funds in the first half of 2024. at the end of the reporting period, the company's cash balance was 1.931 billion yuan, accounting for 17.36% of total assets. the company had no short-term loans at the end of the period, and long-term loans were only 62.8527 million yuan. as of the end of the reporting period, the company's total assets were 11.125 billion yuan, a year-on-year increase of 12.22%; the net assets attributable to shareholders of listed companies were 9.573 billion yuan, a year-on-year increase of 11.15%, and the debt-to-asset ratio was only 13.88%.
haomai technology has sufficient funds and its performance is also "brilliant". the financial report shows that from 2013 to 2023, the company's operating income increased from 1.135 billion yuan to 7.166 billion yuan, and the net profit attributable to the parent company increased from 316 million yuan to 1.612 billion yuan. during this period, the annual growth rate of haomai technology's revenue and net profit attributable to the parent company were both positive.
in the first half of this year, haomai technology's performance also maintained growth. in the first half of 2024, the company achieved operating income of 4.138 billion yuan, a year-on-year increase of 16.97%; and achieved a net profit attributable to shareholders of listed companies of 960 million yuan, a year-on-year increase of 23.93%.
the tire mold business contributes the most to haomai technology, but due to the combined influence of factors such as changes in domestic and foreign sales, the gross profit margin of the tire mold business will decline slightly in the first half of 2024. in the first half of this year, the company's tire mold business achieved operating income of 2.216 billion yuan, a year-on-year increase of 19.52%, and a gross profit margin of 41.59%, a year-on-year decrease of 1.21 percentage points.
regarding the forecast of future growth of tire mold business, haomai technology said, "in the first half of 2024, the company's tire mold business will grow rapidly year-on-year. at present, the orders for this business are relatively full, and it is expected to grow in the second half of the year. however, this trend will not last for a long time. the duration depends on the changes in market demand."
by providing entrusted loans to state-owned enterprises, haomai technology has also achieved certain profits. the financial report shows that as of the end of the first half of 2024, the profit and loss of haomai technology's external entrusted loans was 17.7898 million yuan, and in 2021, 2022 and 2023, it was 29.4847 million yuan, 34.8344 million yuan and 35.1147 million yuan respectively, with a total profit of more than 100 million yuan.
(reporter yang jiaqi from dazhong news and economic herald)
