天邑股份(300504.SZ):2019年淨利預降14.57%-27.06%
格隆匯1月22日丨天邑股份(300504.SZ)披露2019年度業績預告,公司預計2019年1-12月歸屬於上市公司股東的淨利潤為1.11億元–1.3億元,同比下降27.06%~14.57%。業績變動原因如下:
1、2019年原材料價格回落,公司綜合毛利率逐步提高。同時公司內部分階段施行智能製造計劃、優化崗位設置等舉措大量減少人工費用,實現降本增效。2019年公司綜合毛利率為18.41%,較去年同期增加1.91個百分點。
2、通信行業需求更新換代速度快,對技術要求越來越高。公司的發展與技術研發實力、新產品開發能力緊密相關。公司依託高素質的研發團隊和靈活的新產品開發機制,把握國家固定寬帶和移動寬帶“雙千兆”戰略機會,持續進行研發投入,報告期內,已完成10GPON智能網關、WiFi6AP、5GCPE產品研發,5G微基站也研發取得了重要階段的成果。研發費投入較去年同期增加約2800餘萬元,增長超過30%。加大研發投入長遠有利於增加公司的核心競爭力。但會對公司短期的盈利構成一定影響。
3、寬帶用户繼續向高速率遷移,固定寬帶、移動寬帶雙雙開始邁入千兆時代。運營商已推出“雙千兆”服務,但推廣普及需要一定的過程和時間。公司10GPON智能網關、WiFi6AP、4G微基站等新一代產品也在陸續出貨。新產品對公司業績的拉動作用還有待其出貨規模進一步擴大。
4、公司在海外市場的寬帶網絡終端設備領域實現了零的突破,核心產品首次走向海外。海外市場的開拓前期投入高、開發週期長,儘管海外收入大幅增加,但海外業務的規模還較小,對當期業績的貢獻還不明顯。
5、報告期內,預計非經常性損益對淨利潤的影響金額約為1947萬元。
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