On April 28th, Jingyun released its first quarter report for 2015, which listed the company's financial situation for the first quarter of 2015. Thanks to the increase in revenue from the company's photovoltaic power generation business and catalyst sales, during the reporting period, Jingyun achieved a revenue of 257 million yuan, a year-on-year increase of 85.5%, and a net profit attributable to shareholders of the listed company of 35.27 million yuan, a year-on-year increase of 77.22%, of which the net profit after deducting non recurring expenses was 34 million yuan, a year-on-year increase of 136.41%.
Taking advantage of the policy, the photovoltaic business of Jingyun has exploded
Jingyun Tong is currently the only photovoltaic power station operator of its kind to regularly and publicly settle its power generation on a quarterly basis, and the power station's power generation has always maintained a high level. On March 10th of this year, Jingyun released its 2014 annual report, with a revenue of 694 million yuan and a net profit of 115 million yuan during the reporting period. Among them, the power business achieved a revenue of 197 million, accounting for 28.32% of the total revenue, a profit of 138 million, accounting for 54.90% of the total profit, and a gross profit of 70.09%.
Securities institutions analyze that 2015 will be a year of explosive performance for Beijing Yuntong, and the photovoltaic power plant business will be one of the main forces driving the performance boom in 2015, with its business development catching up with the "spring breeze" of national policies. In 2015, the country placed greater emphasis on the development of the photovoltaic industry, and various photovoltaic related policies were continuously introduced. On March 18th, the National Energy Administration officially announced the "Notice on Issuing the Implementation Plan for Photovoltaic Power Generation Construction in 2015", specifying the construction scale of 17800 megawatts of new photovoltaic power stations nationwide in 2015. Compared to last year's 10600 MW of newly added grid connected photovoltaic power generation capacity nationwide, this installed capacity has significantly increased, indicating the country's determination to support the development of photovoltaics.
At present, the cumulative installed capacity of grid connected photovoltaic power stations invested by Jingyun Investment has reached 210 megawatts, including 160 megawatts of ground power stations and 50 megawatts of distributed power stations, with a total sales of 230 million kilowatt hours of electricity. Beijing Yuntong will increase its development and construction efforts for photovoltaic power stations this year, with an expected increase of about 700 megawatts, including 300 megawatts for distributed power stations and 400 megawatts for ground power stations. Ground power stations are mainly concentrated in areas with sufficient lighting conditions such as Ningxia and Inner Mongolia, while distributed power stations are located in the high electricity price subsidy area of Jiaxing, Zhejiang. This year, Jingyun's photovoltaic power plant business is expected to significantly increase in volume, bringing new growth points to its performance.
Environmental whirlwind hits, Jingyun non-toxic catalyst leads the way
In 2013, Jingyun Transport implemented the transformation of photovoltaic power station operation and environmental protection business. While increasing the construction of photovoltaic power stations, it also entered the environmental protection field on a large scale and acquired Shandong Tiancan Company. Shandong Tiancan is currently the only company in the market that can achieve large-scale production of non-toxic and environmentally friendly denitrification catalysts. In July 2014, its production capacity has expanded to 50000 cubic meters per year, becoming the largest production and manufacturing base for new non-toxic denitrification catalysts in China.
Since the third quarter of 2014, the Ministry of Environmental Protection and provinces such as Shandong, Hebei, and Hubei have successively issued multiple regulatory policies related to the denitrification catalyst industry, encouraging the use of non-toxic and environmentally friendly denitrification catalysts, creating favorable policy conditions for the promotion of Beijing Yuntong's non-toxic denitrification products. At present, vanadium titanium based flue gas denitrification catalysts are the main ones on the market. In comparison, new non-toxic and environmentally friendly denitrification catalysts have the advantages of non toxicity, high conversion rate, and low post-treatment costs, making them more advantageous. Under the sweeping trend of environmental protection in the industry, Shandong Tiancan's environmentally friendly off the shelf catalyst is expected to overturn traditional vanadium titanium products and become another "new force" for the future performance growth of Jingyun Transport.
In the 2014 annual report, it was shown that the company's catalyst sales contracts had reached 6000 cubic meters for the whole year of 2014, and the sales target for 2015 was 30000 cubic meters. It is expected that the product gross profit margin will be close to 30%. In the first quarter report of 2015, sold out catalysts once again contributed to the company's revenue, taking a step towards the annual sales target. The market potential for non-toxic catalysts in 2015 may exceed expectations.
Responsible Editor: Zhang Di
