Silver Star Energy released a major assets sale report released last night, said the company intends to sell its holding subsidiary Wuzhong Instrument Co., Ltd. 30% stake, after the completion of this sale, the company will lose the actual control of Wuzhong instrument. The transfer price of 30% of Wuzhong Instrument was RMB 97.786 million. The company said that the income from the transfer of Wuzhong Instrument will be used to supplement liquidity and provide support for the development of the wind power industry.
The company stated that the sale of automation instrumentation business has a low contribution to the company's net profit and a poor profitability. After selling 30% equity of Wuzhong Instrument Co., Ltd., it will help improve the profitability of the listed company.
After the sale of the instrument company, the company's main business will also change, and the scope of the company's consolidated statements will reduce Wuzhong Instrument Company. The company's main business will be changed to wind power, wind power equipment and photovoltaic equipment manufacturing, sales, the company will no longer control the business automation instrumentation business.
However, the company stated that although the automated instrumentation business contributes less to net profit, last year, automated meter-related business generated revenue of approximately 270 million yuan. If the company's wind power and photovoltaic industry income growth slows down, the company's operating income may decline.
The company's annual report last year showed that last year, the company’s main business, the highest gross profit margin of the power generation industry was 61%. Last year, the revenue of the power generation industry was 150 million yuan, accounting for 14.82% of the main business income, operating profit was 93.15 million yuan. The gross profit rate was as high as 61%. The largest contribution to profits was equipment manufacturing. Last year, the revenue was 1.32 billion yuan and the profit was 102 million yuan, accounting for 129% of the main business revenue.
In addition, the company is about to spin off the automation equipment industry, last year's revenue was 323 million yuan, profit was 87.74 million yuan, gross margin was 27%, accounting for 31.59% of main income. In addition, the company also involved in the foundry and real estate industries, but these two operations are relatively common, the foundry industry lost 2.34 million yuan last year, while the real estate industry last year only 18 million, accounting for only 0.66% of the main business income .
The company stated that the sale of automation instrumentation business has a low contribution to the company's net profit and a poor profitability. After selling 30% equity of Wuzhong Instrument Co., Ltd., it will help improve the profitability of the listed company.
After the sale of the instrument company, the company's main business will also change, and the scope of the company's consolidated statements will reduce Wuzhong Instrument Company. The company's main business will be changed to wind power, wind power equipment and photovoltaic equipment manufacturing, sales, the company will no longer control the business automation instrumentation business.
However, the company stated that although the automated instrumentation business contributes less to net profit, last year, automated meter-related business generated revenue of approximately 270 million yuan. If the company's wind power and photovoltaic industry income growth slows down, the company's operating income may decline.
The company's annual report last year showed that last year, the company’s main business, the highest gross profit margin of the power generation industry was 61%. Last year, the revenue of the power generation industry was 150 million yuan, accounting for 14.82% of the main business income, operating profit was 93.15 million yuan. The gross profit rate was as high as 61%. The largest contribution to profits was equipment manufacturing. Last year, the revenue was 1.32 billion yuan and the profit was 102 million yuan, accounting for 129% of the main business revenue.
In addition, the company is about to spin off the automation equipment industry, last year's revenue was 323 million yuan, profit was 87.74 million yuan, gross margin was 27%, accounting for 31.59% of main income. In addition, the company also involved in the foundry and real estate industries, but these two operations are relatively common, the foundry industry lost 2.34 million yuan last year, while the real estate industry last year only 18 million, accounting for only 0.66% of the main business income .
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