Sayyas Window's semi annual net profit increased by 50.1% -93.88% in advance, and plans to launch the incentive plan for Restricted stock in 2023

Source: Securities Times

Sayyas Window Industry (301227) released its semi annual performance forecast for 2023 on the evening of July 14th. The company is expected to achieve a net profit of 36 million to 46.5 million yuan, a year-on-year increase of 50.1% to 93.88%; Realized a net profit deduction of 30 million to 40.5 million yuan, a year-on-year increase of 31.94% to 78.11%.

Regarding the reasons for the expected increase in performance in the 2023 semi annual report, Sayyas Window Industry stated that firstly, with the improvement in market demand and the gradual implementation of various measures by the company, the production and sales situation of the company in the second quarter improved compared to the first quarter month on month. According to preliminary calculations, from January to June 2023, the company's operating revenue increased by about 5% -10% compared to the same period last year, with the growth rate of dealer model revenue slightly higher than that of bulk business model revenue.

Secondly, in the first half of this year, the company's income from using some idle funds for cash management and bank deposit interest income increased significantly compared to the same period last year.

Finally, in the first half of this year, it is expected that the impact of non recurring gains and losses on the company's net profit will be approximately 6 million yuan, mainly government subsidies included in the current profit and loss.

Sayyas Window Industry is a high-tech enterprise that focuses on the research and development, design, production, and sales of customized energy-saving aluminum clad wooden windows. The company has been deeply involved in the energy-saving aluminum clad wooden window industry for many years, with a relatively complete customized production line, a complete marketing network and service system. Through the introduction of foreign equipment and independent research and development integration, the company has formed four core production modules: a wood processing center, an aluminum processing production system, a glass processing production system, and a vertical assembly production line.

In the first half of this year, facing the uncertainty of the domestic and international macroeconomic environment and major changes in the energy-saving window market, Sayyas Window Industry focused on the "energy-saving and beautiful window" brand and product positioning, striving to overcome various unfavorable factors, steadily expanding its bulk business, actively improving its distribution network, developing diversified retail sales channels, and enhancing its comprehensive competitive advantage by enriching the matrix of mid to high end products and implementing cost leadership strategies, The stable development of production and operation has been achieved.

It is particularly worth mentioning that on June 28, 2023, the groundbreaking ceremony for the Phase IV project of Sayyas Window Industry Harbin Double Base and the construction project of customized energy-saving wooden windows with an annual output of 150000 square meters in Harbin was officially launched, and the project construction entered a comprehensive acceleration stage.

The fourth phase of the Harbin Shuang Base project is expected to have a total investment of approximately 250 million yuan and a construction area of 46000 square meters. Sayyas Window Industry plans to use the existing site to build a new customized energy-saving aluminum clad wooden window production workshop and warehouse, and purchase advanced, intelligent, and highly automated production equipment to achieve the expansion of high-quality customized energy-saving aluminum clad wooden window products

After the implementation of the project, Sayyas Window Industry will increase its production capacity of 150000 square meters of high-quality customized energy-saving aluminum clad wooden windows annually, achieving large-scale expansion of its leading products. This project will help Sayyas Window Industry deepen its main business layout, further expand the effective supply of leading products, increase market share, significantly enhance the company's revenue scale and profitability, and continue to build and maintain a competitive advantage in the market.

On the evening of July 14, Sayyas Windows disclosed the 2023 Restricted stock incentive plan at the same time. The incentive plan involved 60 incentive objects for the first time, including Middle management and core business (technical) personnel who worked in the company when the company announced the incentive plan.

The number of Restricted stock to be granted to incentive objects in the incentive plan is 2.2 million shares, accounting for 2.32% of the total capital stock of the company on the date of the release of the draft incentive plan. The grant price of Restricted stock granted in the incentive plan for the first time is 14.28 yuan/share..

According to the performance indicators set in the Sayyas Window Industry Incentive Plan, the audited operating revenue target values of the company from 2023 to 2025 are 1.02 billion yuan, 1.17 billion yuan, and 1.42 billion yuan, respectively, with trigger values of 930 million yuan, 1.025 billion yuan, and 1.18 billion yuan.

Sayyas Window Industry stated that the setting of this performance indicator is a comprehensive consideration of the company's current situation, future strategic planning, and industry development. The set assessment indicators have certain challenges for future development. On the one hand, this indicator helps to improve the company's competitiveness and mobilize employees' work enthusiasm, and on the other hand, it can focus on the company's future development strategic direction and stabilize the achievement of business goals.