Caijing.com Capital Market News on June 27, Xiling Power issued an announcement saying that Wei Xiaolin, the company’s chairman and general manager, and Yang Hao, the secretary of the board of directors, received a warning letter from the Sichuan Securities Regulatory Bureau on June 24.
Xiling Power landed on the Growth Enterprise Market in January 2018, mainly engaged in the research and development, design, manufacturing and sales of engine parts.
On January 27, 2022, Xiling Power released the “2021 Annual Performance Forecast”. It is expected that the net profit attributable to shareholders of listed companies in 2021 will be 31 million to 33 million yuan, and the net profit after deducting non-recurring gains and losses will be 28 million yuan. Yuan to 30 million yuan.
However, on April 13, 2022, the company’s annual report was officially released. In 2021, it will realize a net profit of 20.0405 million yuan and a non-net profit of 15.8604 million yuan.
Because the estimated net profit disclosed in the performance forecast is quite different from the net profit disclosed in the annual report, and it was not corrected in time, the GEM Management Department of the Shenzhen Stock Exchange issued a supervision letter to Xiling Power on May 20, 2022. On June 27, the Sichuan Securities Regulatory Bureau took administrative supervision measures of issuing warning letters to Xiling Power, Wei Xiaolin and Yang Hao for the same reason.
Previously, there had been staff errors in Xiling Power’s 2021 financial report, which led to errors in filling out some data, which Xiling Power blamed on “staff errors”. Later, the company announced that Yang Hao, the chief financial officer, would no longer serve as the chief financial officer.
Everbright Securities believes that Xiling Power is deeply engaged in precision manufacturing. Driven by the triple factors of new turbochargers in the automotive business, aviation parts business, and innovative casting processes, its performance is expected to accelerate growth, and its profits are expected to double within three years. In 2022 — -The corresponding EPS in 2024 will be 0.93, 1.29, and 1.82 yuan, and the corresponding PE multiples will be 18x, 13x, and 9x. However, Everbright Securities also reminded that Xiling Power’s auto parts business may be affected by the development of new energy vehicles in the future.
In the secondary market, as of June 27, Xiling Power reported 24.14 yuan per share, down 3.82% on the day, with a total market value of 4.2 billion yuan.
Wang Miaomiao / text