gameblockchain| Kabei Billion sold up to 100 million yuan in repurchase to boost confidence, focusing on its main business, investing 214 million yuan in R & D in 3 years

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Source: Changjiang Business Daily

Zhang Lu, a reporter from Changjiang Business Daily.

At a time of steady growth, Cabe billion (300863)Gameblockchain.SZ) selling large buybacks to boost confidence.

Recently, Cabe billion issued a share buyback plan, in which the company plans to use its own funds and self-raised funds to buy back the company's shares through centralized bidding for convertible corporate bonds into shares. The total amount of repurchase funds shall not be less than 70 million yuan or more than 100 million yuan.

For more than 30 years since its establishment, Cabe has been focusing on the research, development, production and sales of automotive cables. at present, it has entered the supply chain system of mainstream automobile manufacturers at home and abroad, such as Volkswagen, GM, Ford, SAIC and so on.

In recent years, the company's performance has grown rapidly, and the company's revenue has increased from 12% in the year of listing in 2020.Gameblockchain64 million yuan to 3.452 billion yuan in 2023, and net profit increased from 53 million yuan to 166 million yuan over the same period.

In addition, a reporter from the Changjiang Business Daily noted that the company continued to increase its R & D code, and the company's R & D investment reached 214 million yuan from 2021 to 2023.

Steady increase in performance up to 100 million yuan buyback

Recently, based on confidence in the company's future development prospects and a high degree of recognition of the value of the company, Cabe billion issued a share buyback plan. According to the announcement, the company intends to buy back shares at a price of no more than 70 million yuan per share (including), and the repurchased shares are intended to be converted into convertible bonds.

According to the announcement, according to the price ceiling of 60 yuan per share (inclusive), the number of repurchased shares is expected to be 1.1667 million to 1.6667 million shares, accounting for 1.31 to 1.88 per cent of the company's current total share capital. The implementation period of this buyback is within 3 months from the date of consideration and approval of the buyback plan by the company's board of directors.

At present, the assets of Cabe billion are in good condition. as of December 31, 2023, the total assets, net assets and current assets are 2.816 billion yuan, 1.21 billion yuan and 1.894 billion yuan respectively.

From the performance point of view, the performance of Cabe billion in recent years is remarkable. From 2021 to 2023, the company's revenue was 2.268 billion yuan, 2.948 billion yuan and 3.452 billion yuan respectively, an increase of 79.44%, 30.01% and 17.08% respectively over the same period last year. The net profit was 86.341 million yuan, 140 million yuan and 166 million yuan respectively, an increase of 63.2%, 62.21% and 18.49% respectively.

In 2024, the company has further enhanced its profitability by adjusting its product structure and raising the level of gross profit margin. In the first quarter, Capi achieved operating income of 778 million yuan, an increase of 5.27% over the same period last year; net profit of 44.1624 million yuan, an increase of 21.01% over the same period last year; and a gross profit margin of 13.44%, compared with 11.4% in the same period last year.

Constantly improve the layout of capacity

Since Ninghai County Connector General Factory was founded in 1986, it has a history of more than 30 years. The company was listed in August 2020, and its main business is R & D, production and sales of automobile cables.

A reporter from the Changjiang Business Daily noted that Cabe has accumulated strong customer resources and has entered the supply chain system of mainstream automobile manufacturers at home and abroad, such as Volkswagen, General Motors, Ford, SAIC and so on.

In 2023, the total length of car cables sold by the company reached 6.1317 million kilometers, an increase of 17.25 percent over the same period last year. Although the amount of data line sales was only 9.3708 million yuan, the increase was 42.85 percent.

Cabe billion closely follows the development trend of the downstream automobile industry, actively arranges new energy vehicle high-voltage cables and intelligent network-connected vehicle cables, and constantly improves the production capacity layout. It is reported that the company's Benxi Cabo 100 million "New Energy Automobile Cable production Line Construction Project" has officially entered the production stage; Hubei Cabe billion's "Hubei Cabe billion production Base Project" has basically completed the construction and entered the trial production stage.

A reporter from the Yangtze River Business Daily noted that since its inception, Cabie has attached great importance to the research and development of automobile cables. From 2021 to 2023, the R & D investment of Cabo billion was 70.2913 million yuan, 52.992 million yuan and 90.2849 million yuan respectively, totaling 214 million yuan in three years. By the end of 2023, the company has obtained 37 utility model patents and 7 invention patents.