Joyson Electronics last year's performance forecast: net profit is about 480-550 million

On the evening of January 27th, Joyson Electronics released its 2020 annual performance forecast. It expects to achieve a net profit of 480 million to 550 million yuan attributable to shareholders of listed companies in 2020, a year-on-year decrease of about 48.9% to 41.5%.

Image source: Joyson Electronics

Joyson Electronics pointed out that the company’s 2020 annual performance reduction is mainly due to the impact of the new crown epidemic in the first half of the year. Its factories in Asia, Europe, North America and other places suspend production to prevent and control the epidemic, which affects the company’s normal operations. The activity had a certain impact. For example, Joyson Electronics' domestic factories had a resumption rate of 90% until April, while the resumption rate of Europe and the United States only reached 90% at the end of June.

The normal operation of the company was hindered, resulting in the failure to achieve sales revenue during the shutdown period, so that the performance of the first half of the year saw a significant decline. According to Joyson Electronic’s previous 2020 semi-annual report, the company only achieved operating income of 20.53 billion yuan in the first half of last year, a year-on-year decrease of 33.4%; a net loss of 559 million yuan, compared with a profit of 514 million yuan in the same period in 2019, a decrease of 204.88% .

In the second half of the year, with the gradual control of the domestic epidemic, Joyson Electronics' various businesses ushered in a full recovery, and the sales side has recovered significantly. Among them, in the third quarter, Joyson Electronics achieved a total revenue of approximately 13.4 billion yuan, which is close to the level of the same period in 2019, which is an increase of 61% compared with the second quarter of 2020; it achieved a net profit of approximately 260 million yuan, an increase from the same period in 2019 About 68.7 million yuan, an increase of about 860 million yuan over the second quarter of 2020.

Even in the fourth quarter, the outbreak of secondary epidemics in major countries such as Germany, Japan, and the United States, as well as changes in the global automotive supply chain, will have varying degrees of impact on local production and operations. With various effective measures such as the short-time work system, control of travel arrangements, and enhancement of sales collections, Joyson Electronics pointed out that the operation and management results in the second half of the year were obvious, which effectively boosted the annual performance.