Abstract From the transformation of industrial diamond king to consumer grade artificial gemstone, the performance of Yu Diamond has achieved rapid growth. On April 5, the company released the first quarter 2017 results forecast, showing a net profit of 52.719 million yuan to 59.105 million yuan during the period...
From the transformation of industrial diamond kings to consumer-grade artificial gemstones, Yu Diamond's performance has grown rapidly. On April 5, the company released the first quarter 2017 results forecast, showing a net profit of 52.719 million yuan to 59.105 million yuan during the period, an increase of 65% to 85%. The company's 2016 annual performance report also showed that the company achieved operating income of 969 million yuan last year, an increase of 26.92%; net profit of 138 million yuan, an increase of 38.06%.
Yu Diamond said that during the reporting period, the company used large single crystal diamond as the main line to accelerate product promotion and market layout. The proportion of large single crystal diamond sales continued to increase, and profitability was further highlighted. In addition, the company used idle raised funds for cash management, and the benefits of wealth management products and interest on raised funds also had a positive impact on performance growth.
“The company began to make breakthroughs in technology in the second half of 2014 and achieved industrialization of large single crystal products in 2015. During the period, the company continued to promote capacity growth, and the performance growth was mainly due to the contribution of large single crystal products.â€
Zhang Kai, director of the Diamond Company, said that between 2015 and 2016, the company continued to expand its production, mainly to sell rough materials at the front end of large single crystal products. At the same time, the products are promoted through various marketing methods. At present, the contribution rate of large single crystal products to the overall profit of enterprises has exceeded 60%, and there is room for improvement in the future.
Before cutting into the large single crystal market, Yu Diamond as the industry leader, also accompanied by the market downturn factors, experienced a period of sustained decline in performance.
As early as the successful landing of the GEM in 2010, Yu Diamond has achieved a net profit of 75.98 million yuan, an increase of 44.8%. The following year, the company's performance reached a new high of 140 million yuan, an increase of 86.4%. However, since 2012, the gross profit margin of industrial diamond products has gradually shrunk, the competition in the superimposed market has intensified and the macroeconomic growth has slowed down. The profits of Yu Diamond have begun to decline and have expanded year by year. In 2014, the company achieved a net profit of 61.3 million yuan, a year-on-year decrease of 34.9%.
Just in 2014, the domestic diamond industry began to show the trend of transforming consumer-grade artificial gemstones. Yu Diamond also set out to find new profit growth points in the consumer goods field, and quickly achieved results. In 2015, the company successfully achieved performance growth, with a net profit of 100 million yuan for the year, a year-on-year increase of 63.4%.
On November 7, 2016, Yu Diamond announced that the company's fixed-issued 527 million shares have been listed, the issue price is 8.7 yuan / share, the actual net fundraising is 4.567 billion yuan, will be used for an annual output of 7 million carats of gems Grade diamond projects and supplementary liquidity.
"If all the above-mentioned additional projects are put into production, there will be a profit of about 800 million yuan, and the company's large single crystal products will further expand the market scale." Zhang Kai said that the current diamond is the first in the world to achieve A company that industrializes single crystal products. In the future, the company will continue to deepen its layout and carry out deep processing of large single crystals.
He said that large single crystals are synthetic diamonds that can be sold as light luxury crafts. In addition to being used in industrial production, there is also a trillion market space in the consumer goods market. In the early stage, Yu Diamond was mainly produced in the front end of large single crystal products. In the later stage, it will also produce and sell high-end and mid-end products, and will also try to promote its own brands.
Zhao Bo, secretary-general of China Superhard Materials Association, said in an interview with the Securities Times·e company reporter that artificial diamonds have extremely high added value. The gross profit margin of traditional industrial diamonds is about 30%, and the gross profit rate of diamond large single crystals that can be used as consumer goods can reach 60%. This also attracts many diamond companies to invest in research funding for product transformation and upgrading.
Everbright Securities Research believes that with the continuous exploitation of diamonds, diamond mines are becoming less and less, mining costs continue to increase, and demand is increasing. Natural diamonds cannot fully meet market demand. Under this circumstance, the synthetic diamond technology has made great progress, and the product quality is basically close to that of natural diamonds. As a leading enterprise in the super-hard material industry, Yu Diamond has outstanding comprehensive advantages and firm determination in transformation, and it is expected to become a pioneer in the field of artificial jewelry and diamonds.
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