Sino-Singapore (002912): Q3 revenue has grown steadily, gross margin has risen significantly, and operating capacity has improved

Sino-Singapore (002912): Q3 revenue has grown steadily, gross margin has risen significantly, and operating capacity has improved

The company achieved operating income in the first three quarters6.

100,000 yuan, an increase of 28 西安耍耍网 in ten years.

51%; net profit attributable to mother 1.

76 ppm, an increase of 12 in ten years.

67%.

Demand for procurement and construction has steadily increased.

The company’s main business continued to maintain a good development trend, and market demand was stable, especially the sales revenue of broadband Internet data aggregation and distribution management products, which increased compared with the same period last year.

The company’s third quarter operating income2.

76 ppm, an increase of 31 in ten years.

52%, an increase of 16 from the previous month.

73%.

Net profit in the third quarter1.

100,000 yuan, an increase of 16 in ten years.

52%, an increase of 51.

41%.

The third quarter consolidated gross profit margin was 87.

0%, an increase of 3 over the same period last year.

6 units, an increase of 5 over the second quarter.

1 unit.

Expense rate during the third quarter was 35.

1%, down 6 from the same period last year.

Eight averages, down 10 from the second quarter.

0 averages, mainly because the growth rate of expenses during the period is slower than the increase in revenue.

The gross profit margin has increased significantly, and the operating capacity is improving.

Cash flow was good, and net operating cash flow increased significantly to one in the third quarter.

12 ppm, under the score, it was 0 for the same period last year.

410,000 yuan, 0 in the second quarter of this year.

1.1 billion.

Operating capacity improved, and the receivables turnover days in the first three quarters dropped to 143 days, 27 days shorter than the interim report.

The inventory turnover days were 616 days, which was 125 days more than the same period last year.

R & D expenses have maintained high growth, and various product lines continue to have high R & D investment.

The company’s meaningful product research and development, innovation, continuous expansion of research and development promotion, further play product synergy, and achieved good performance in related industries.

R & D expenses in the first three quarters1.

530,000 yuan, an increase of 30 in ten years.

28%, mainly because the company attaches importance to R & D promotion and innovation.

The broadband network product series is complete, the research and development 深圳桑拿网 based on domestic chips is strengthened, the mobile network product development is highly integrated, the work plan is more flexible, the network content security products continue to be upgraded, and the industrial Internet security products further strengthen market competitiveness.

Profit forecast: Net profit is expected to be 2 in 2019-2021.

59, 3.51, 4.

69 ppm; EPS is 2.

42, 3.

29, 4.

40 yuan.

The PE corresponding to the current closing price are 41.

79, 30.

80, 23.

02 times.

Maintain “Buy” rating.

Risk warning: systemic risk, bidding is less than expected.