From January 1, 2021 to December 31, 2021, Zhejiang Maidi Refrigeration Technology Co., Ltd achieved an operating revenue of 379 million yuan, with a year-on-year increase of 53.62%, and a net profit of 16.5072 million yuan, with a year-on-year increase of 93.32%, hitting a record high. This is mainly due to the large sales growth of the newly developed high-performance new product called DC compressor, which is with high gross profit margin, high gross profit and large growth of filter revenue.
Zhejiang Maidi Refrigeration Technology Co., Ltd. was established on February 9th, 2009. Currently Li Yi is the general manager. The company is mainly engaged in professionally researching, developing and manufacturing of fully enclosed and semi enclosed compressors and units, new fluorinated products, as well as refrigeration pipeline accessories, such as drying filter, gas-liquid separator and oil separator.
Compressors made a great contribution to the revenue in this period
During the reporting period, the main business income increased by 53.62% on a year-on-year basis, mainly due to the increase in the domestic and export business of compressors and the business volume of bellows by Midea in this period. During the reporting period, the cost of main business increased by 54.13% year on year, mainly due to the increase of main business income.
R & D investment increased significantly, with a year-on-year increase of 46.05%
During the reporting period, the R & D fee was 15.144 million yuan, accounting for 3.99% of the revenue, with a year-on-year increase of 46.05%, mainly due to the company's increased R & D investment in 2021 and the significant increase of R & D salary. Another reason for the increase and growing proportion of R & D fee is that the need in making R & D molds for water pumps and other products caused the increase of R & D material cost.
During the reporting period, the company actively expanded domestic and foreign markets. The actual domestic sales revenue was 201 million yuan, with an increase of 39.44%. The export revenue was 177 million yuan, increasing by 74.46%. Domestic sales mainly increased the sales of compressors and bellows by Midea in the application field of new product dehumidifiers. Affected by the pandemic overseas, export sales mainly increased in foreign trade orders, including high increase in sales of compressors, filters and the new products—water pumps.
