On Aug. 7, Puyuan Precision disclosed its semi-annual report, in which the company achieved operating revenue of 261 million yuan in the first half of 2022, up 23.25% year-on-year; net profit of 28,552,900 yuan, turning a loss into profit; net profit of 7,705,500 yuan, turning a loss into profit.
The company’s high-end digital oscilloscope (referring to the highest bandwidth ≥ 2GHz) sales amount increased 123.28% year-on-year, said Puyuan Precision. The company’s 5GHz bandwidth flagship digital oscilloscope DS70000 series grew 3067.00% year-on-year, showing a rapid growth trend, and the sales amount in the first half of this year has reached 245.73% of last year’s annual sales amount. The company’s 2GHz bandwidth digital oscilloscope MSO8000 / R series grew 56.24% year-on-year, maintaining high growth for three consecutive years since its release.
The company’s high-end products have achieved rapid growth worldwide, with domestic high-end product sales increasing 148.39% year-on-year and overseas high-end product sales increasing 68.74% year-on-year.
Meanwhile, the sales amount of direct sales model increased by 44.85% year-on-year. The sales amount of large customers and terminal sales model increased 194.83% year-on-year, among which the sales amount of the company’s single largest strategic direct sales customer increased 67.97% year-on-year.
Puyuan Precision indicated that the company’s domestic and international sales were affected by unfavorable factors such as repeated epidemics, chip shortage and poor logistics. Benefiting from the positive domestic substitution policy and mature direct sales strategy layout, the company’s domestic sales revenue increased by 47.48% year-on-year compared with the previous year. The company’s overseas sales were affected by unfavorable factors such as the war between Russia and Ukraine and exchange rate fluctuations, and sales revenue increased by 4.48% year-on-year compared with the previous year.
As for the factors affecting the company’s net profit, Puyuan Precision noted that the company’s overall gross profit margin reached 51.98%, an increase of 1.09% year-on-year, excluding share-based payments the company’s overall gross profit margin was 52.88%. The company’s gross profit margin for the period was affected by the factor of year-on-year increase in raw material purchase cost, and if this factor is deducted, the company’s gross profit margin would be about 56.82%.
The company’s high-end digital oscilloscope (refers to the highest bandwidth ≥ 2GHz) sales growth brought the average host price increased by 26.44% year-on-year. Among the company’s digital oscilloscope products, the sales amount of products equipped with self-research chips increased to 69.12%, up 19.18% year-on-year, further reflecting the cost advantage of self-research chips.
