Hyderabad Investment：Meeton Technology (688420) 2023 Third quarter report brief analysis： increasing income without increasing, accounts receivable rising

According to the public data of the Securities Star, Meeton Technology (688420) recently released the 2023 third quarterly.According to the financial report, Meeton's income increase in technology during the reporting period does not increase, and accounts receivable have increased.As of the end of this report, the company's total operating income was 341 million yuan, an increase of 8.98%year -on -year, and the net profit attributable to the mother was 33.2464 million yuan, a decrease of 59.85%year -on -year.According to the data in a single quarter, the total operating income of the third quarter was 93.8671 million yuan, a year -on -year decrease of 29.42%.

The various data indicators announced by this financial report are average.Among them, the gross profit margin was 45.52%, a year -on -year decrease of 16.85%, a net interest rate of 9.73%, a year -on -year decrease of 63.15%.The net assets of the shareholding were 16.37 yuan, an increase of 153.55%year-on-year, and the operating cash flow per share was -1.5 yuan, a year-on-year decrease of 291.48%, and the income per share was 0.38 yuan, a year-on-year decrease of 69.6%.See the table below for specific financial indicators:

The Star Price Investment Circle Financial Report Analysis Tools Display:

Judging from the company's financial statements in the past year, profits in the latest annual financial report decreased by 60%year -on -year.In terms of profitability, the main business has a high status in the industrial chain, has premium rights, and has a large investment in marketing competition.

Further analyzes the company's historical and financial statements in the past ten years. The latest profit forecast shows that the profit growth will slow down.

Financial report medical examination tool display:

It is recommended to pay attention to the company's cash flow status (the average operating cash flow in the past 3 years/the liabilities of the liabilities is only 14.38%)

It is recommended to pay attention to the company's account receivable status (accounts receivable/profit have reached 288.11%)

Analyst tools show that securities researchers generally expect that the performance of 2023 is 153 million yuan, and the average income per share is 1.74 yuan.

See the top ten funds of heavy warehouse Meeton Technology below:

The fund holding the most Meeton technology is the two -year opening mix of Huitianfuke's innovation board. The current scale is 1.515 billion yuan.Falling 18.94%.The fund manager of the fund is Ma Xiang Xia Zhengan.

Recently, some well -known institutions have paid attention to the following issues:

Q: The company's business situation in the field of non -coal miningHyderabad Investment?

Answer: In non -coal mining, the company has developed rapidly with the experience accumulated in the coal market.目前，公司智能干选设备可实现有效分选的非煤矿种已达16种，分别为有色金属类铅锌矿、铜矿、钼矿、铝土矿、钨矿、锑矿、锡矿、镍Mine, etc.; Black metal iron ore, manganese ore, 钒 ore, etc.; Non -metallic phosphorus ore, fluorite ore, potassium long stone, kaoling rock, oil shale, etc.The company's intelligent dry selection equipment is highly recognized by customers in some mineral species such as aluminum ore, phosphorus ore, fluorite ore, and mines.In the case, customers will still give priority to the company's products.In addition to the intelligent equipment business, the intelligent business has also made great progress in the field of non -coal mining. The intelligent transformation of the entire factory and the intelligent transportation of minerals are operating.Greatly improve the production efficiency of customers, realize the intelligent control of the entire factory, and reduce the cost of reducing costs for customers.

Q2 Company's overseas market expansion?The company mainly develops overseas markets by participating in international market exhibitions, visits by key customers and partners, and developing intermediary agency channels.In the first half of 2023, the company successfully obtained an order of intelligent equipment business in overseas markets (Mongolia), achieving breakthroughs in overseas business.In the second half of the year, the company will continue to consolidate the domestic basic market, strengthen the construction of overseas market teams and product publicity, further develop the international market, and focus on the development of coal, mining and intelligence in Indonesia, Australia, Russia, Mongolia, South Africa, Central Asia and other areasThe market in the field, enhance the company's international brand awareness, enlarge and strengthen market share, and strive to achieve a scale breakthrough.Q3 What is the technical barrier of the company's intelligent equipment (intelligent stem machine)?At the beginning of its establishment, the company clarified the research direction of the sorting method in the field of coal cricket sorting. In 2016, the first TDS intelligent sanitation machine was successfully developed and has been operating at the industrial site.It has the advantage of the first development; the company continues to develop and upgrade the TDS intelligent stem machine, strong research and development capabilities, and leading various technical indicators industries; the company continues to expand application scenarios, from coal to non -coal mining, and has deep technical reserves with vertical expansion., Industry application experience and accumulation of customer resources, as well as more comprehensive project implementation management capabilities; the company that the company successfully developed at the end of 2020 can be combined with the TDS intelligent photoelectric stem selection machine, which can fully solve the full -time coal full -time coal.The demand for the sorting method is not required for the whole process, the medium is not consumed, and the clay is not produced. The whole process is intelligently operating. As of the end of June 2023, the TDS+TGS Dream Factory business has been successfully operated in Lintong, Anhui.Projects in several regions such as Xinjiang, Guizhou, Inner Mongolia, Shaanxi and other regions are under trial operation or implementation.With a strong level of technology research and development, good project implementation capabilities, and comprehensive follow -up tracking services, the company continues its significant comprehensive competitive advantage in the industry.Q4 What are the reasons for the low osmosis rate of coal selection of dry methodSurat Stock?(1) The sorting of coal crickets can be divided into two types: wet and dry, of which the mainstream technical route of wet method is the sorting.Before the emergence of coal selection of dry method, wet method selection is the most commonly used method. HoweverIt has also become an important method of coal selection for a long time, and with the successive introduction of the national coal efficient cleaning and utilization policies, the overall situation of the dry method coal selection technology has become optimistic in the future.(2) The service life of the sorting equipment of coal machinery and equipment is generally about 10-15 years. The downstream customers are replaced by the renewal of the existing wet distribution equipment. Due to the limitation of the service life of the original equipment, the replacement process is gradually replaced.Q5 Compared with the wet method, what is the advantage of the drying method?With the continuous improvement of my country's energy conservation and efficiency and efficiency and intelligence requirements for coal mines, the disadvantages of wet selection of coal selection are becoming increasingly prominent.From the perspective of geographical distribution, regions with abundant domestic coal resources are mainly located in areas of dry and lack of water resources in the central and western regionsPune Investment. Therefore, the application of wet coal selection in these areas will be severely restricted by water resources.The utilization rate has a large gap with many developed countries.For part of the muddy coal, the wet method selection will lead to additional clay production, resulting in a decrease in the yield of coal and causing additional loss.Therefore, vigorously promoting the technology selection technology is a major trend in the selection of the coal industry. At the same time, under the condition of ensuring the accuracy of the sorting of coal, the technology of dry election can also alleviate the impact on the environment.Q6 Company is in hand order? As of June 30, 2023, the total amount of the company's hand in hand was 697.2107 million yuan, of which the intelligent equipment business period was 44,32,34,200 yuan at the end of the period.10,000 yuan, other types of businesses are 9,428,700 yuan in hand.The company has sufficient orders in hand. Among them, in the intelligent equipment business, African coal mining orders have increased significantly. At the end of 2022, mining equipment categories were 620.496 million yuan in hand. At the end of June 2023Operating orders increased large. At the end of 2022, operating categories were 38.15 million yuan, and 73.51 million yuan at the end of June 2023, with a growth rate of 92.27%.Q7 Is there any incentives for senior managers?In order to further improve the company's long -term incentive mechanism, attract and retain excellent talents, and fully mobilize the enthusiasm of directors, senior management personnel and core teams of the company, and effectively combine shareholders' interests, company interests and personal interests of core teams to enable the partiesPay together the long -term development of the company to ensure the realization of the company's development strategy and business goals. Under the premise of fully protecting the interests of shareholders, in accordance with the principle of matching income and contribution, the company has formulated a 2023 -year -old stock incentive plan.The company's second interim shareholders' meeting was reviewed and approved in 2023.For the first time in the incentive plan, a total of 6 people including senior management personnel and core technical personnel were awarded for the first time.Q8 Is there any compulsory policy requirements for coal safety production and equipment updates?In March 2023, the National Energy Administration issued the "Several Opinions on Accelerating the Intelligent Development of Energy Digitalization", emphasizing that digital intelligence technologies have driven coal safety and efficient production, and the energy digital intelligent standard system must be improved.The provinces of coal resources existing in the local and industry levels, such as Inner Mongolia, Shaanxi, Shanxi, Xinjiang and other provinces, have actively responded to the top -level design and planning of the country's intelligent construction of coal mine, conforming to the general trend of intelligent construction of coal selection plants, and introduced the provinceIntelligent construction planning and guidance opinions, such as in May 2023, the "Notice on Printing and Distributing the Implementation Plan for Comprehensively Promoting the Intelligentization of Coal Mine and the Implementation Plan for the Construction of Coal Industry Internet Construction" issued by the General Office of the People's Government of Shanxi Province to promote the coal industry and digital technologyIntegrated integration and development to achieve changes in coal production methods.

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