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Dechang Co., Ltd. (605555): Expansion of new customers drives rapid growth in the home appliance business, increasing the contribution of automotive motors
The company released its annual report for the year 23 and the financial report for 24Q1. The company achieved revenue of 2,775 billion yuan in '23, 43.19% year-on-year, and net profit to mother of 322 million yuan, or 7.92% year-on-year. Of these, 2023Q4 was accepted
Southwest Securities released a research report on April 28 stating that Dechang shares (605555.SH) were given a holding rating. The main reasons for the rating include: 1) demand in the home appliance business is picking up, and the auto zero business is
Southwest Securities released a research report on April 28 stating that Dechang shares (605555.SH) were given a holding rating. The main reasons for the rating include: 1) demand in the home appliance business is picking up, and the auto zero business is gradually being implemented; 2) gross margin of various products improved significantly, and expenses increased due to reduced exchange earnings; 3) 2024Q1 revenue remained high, and profitability improved significantly. (Mainichi Keizai Shimbun)
Open Source Securities released a research report on April 27 stating that it gave Dechang shares (605555.SH) a purchase rating. The main reasons for the rating include: 1) the home appliance business continues to expand customers and categories, and ther
Open Source Securities released a research report on April 27 stating that it gave Dechang shares (605555.SH) a purchase rating. The main reasons for the rating include: 1) the home appliance business continues to expand customers and categories, and there are plenty of orders for automotive motors; 2) 2024Q1 costs have been clearly optimized and profitability has increased. (Mainichi Keizai Shimbun)
Dechang Co., Ltd. (605555) Company Information Update Report: 2024Q1 Results Exceed Expectations, Expand Customers, Expand Categories and Continue to Contribute Incrementally
2024Q1's performance exceeded expectations, with two-wheel drive for home appliances and automotive motors, maintaining a “buy” rating of 2,775 million yuan (+43.2%, year-on-year, same below), and net profit of 322 million yuan to mother (+
Dechang Co., Ltd. (605555): Removed inventory of small overseas household appliances and quickly released orders from new customers
The 2023 results were in line with our expectations, and the 1Q24 results exceeded our expectations. The company announced the 2023 and 1Q24 results: 2023 revenue of RMB 2,775 billion, +43.2% YoY, net profit to mother 3.
Dechang Co., Ltd. (605555): Strong export sales, impressive performance growth
Core idea: The company discloses its 2023 annual report. In 2023, it achieved revenue of 2.78 billion yuan (YoY +43.2%), net profit to mother of 320 million yuan (YoY +7.9%), gross profit margin 19.1% (Yo
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