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The performance bottomed out and rebounded. The net profit of Rishang Group increased by 107 in 2023 compared with the same period last year.Crashbandicootps.47% Securities Times News, long-term focus on the dual main business of automobile wheels and steel structureCrashbandicootpsRishang Group (002593) released its 2023 annual report on the evening of April 15, the company achieved operating income of 3.9508677 billion yuan, an increase of 1. 5% over the previous year.

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The performance bottomed out and rebounded. The net profit of Rishang Group in 2023 increased by 107.47% over the same period last year. Rishang Group (002593), which has long focused on the dual main industries of automobile wheels and steel structure, released its annual report on the evening of April 15. The company achieved operating income of 3.9508677 billion yuan, an increase of 16.96% over the previous year. Net profit belonging to shareholders of listed companies reached 60.0898 million yuan, an increase of 107.47% over the previous year. The operating cash flow of the company is good and it is proposed to distribute a cash dividend of 0.5 yuan for every 10 shares to all shareholders. Automobile wheel business export market strength, lightweight product profitability rebounded Rishang Group is committed to creating world-class quality car wheels, continue to increase the car wheel business. At present, the company has built 7 wheel production plants in five regions, including Nanchong, Vietnam, Zhangzhou and Tangshan Caofeidian, with simultaneous production capacity layout at home and abroad, which can fully meet the needs of domestic and export markets. In 2023, with diversified market layout and complete product chain, the company realized wheel sales revenue of 1.497845 billion yuan, an increase of 23.22% over the previous year, of which more than 80% of its business came from overseas export markets. The first phase of the company's Caofeidian new production capacity project has been put into production, the plant is located in Shougang Iron and Steel Industrial Park, close to the main suppliers of raw materials and convenient for shipping, while covering the market demand in Northeast and North China, it can also save raw materials and logistics costs for wheel business, which is conducive to further improving efficiency and reducing costs. It is worth noting that in order to comply with the development trend of "low carbon", "lightweight" and "high-end" of the automobile industry, the company has increased its R & D investment in forged aluminum alloy wheels. After years of research and development, the company's technical research and development team has accumulated rich technical reserves in the technical fields of efficient and intelligent high-speed CNC sawing system, intelligent forging forming system, spinning forming system, heat treatment system, precision machining system and so on. formed a professional technology with independent intellectual property rights. The forged aluminum wheel independently developed by the company has excellent product characteristics, such as light weight, high strength, good heat dissipation, low fuel consumption, good fatigue resistance, beautiful appearance and so on. The effect of steel structure business transformation is beginning to appear, highlighting the advantages of petrochemical steel structure. Rishang Group's steel structure business is mainly steel structure design, manufacture and installation, supplemented by supporting metal enclosure system. According to the statistics of the industry association, there are more than 1000 large-scale steel structure manufacturing and processing enterprises in the country, but there are less than 40 steel structure enterprises with an output of more than 200000 tons in 2021. In the past five years, the annual output of steel structure of Rishang Group has been stable within the top 30. After more than 20 years of development, the company has firmly established the influence of brands such as "New Changcheng" and "NCC" in the field of steel structure, and actively makes use of the transportation advantages within the region, relying on the three major production bases of Xiamen, Zhangzhou Huaan and Nanchong, focusing on the advantage subdivision areas. At present, the company has an absolute leading position in steel structure manufacturing in subdivided fields such as petroleum refining and fine chemical industry, and petrochemical steel structure accounts for nearly half of its production and sales. In 2024, the company will continue to dig deep into the advantageous areas and actively consolidate and expand the customer market in the two core areas of domestic key industrial projects and petrochemical equipment steel structure. The continuous investment in information and intelligent manufacturing will also help the company to form a long-term and stable cooperative relationship with the top 10 EPC general contracting companies in the global petrochemical field. In August 2023, the US Department of Commerce launched a scope investigation into its Vietnamese subsidiaries, which led to the construction progress of the Vietnam project. Notice of intention to withdraw the investigation: after investigation, the US Department of Commerce has decided to withdraw the scope of the investigation, and any rebuttal opinions of stakeholders must be submitted to the US Department of Commerce on March 29, 2024, US time. As of the date of disclosure of the 2023 annual report, Rishang Group was informed that the US DexstarAmericana, the applicant for this survey, had submitted comments to the US Department of Commerce, saying that it had no objection to the withdrawal of the investigation by the Department of Commerce. In the future, with the withdrawal of the scope investigation launched by the US Department of Commerce on the Vietnamese subsidiary, Rishang Group's overseas wheel orders are expected to pick up further, and the construction progress of the forging aluminum alloy wheel investment project of the Vietnamese subsidiary is expected to speed up, thus driving the company to increase its market share in the future. (Hu Min) proofreading: Li Lingfeng

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