Guangdong Nedfon Air System Co., Ltd(SZ 301043) released its annual performance report on the evening of April 26, saying that the operating revenue in 2021 was about 551 million yuan, with an increase of 33.74% year-on-year. The net profit attributable to shareholders of listed companies was about 52.8 million yuan, with a year-on-year decrease of 25.08%.
From January to December 2021, the operating revenue of Nedfon consisted of indoor ventilation system, accounting for 96.39%. In the field of fresh air system, the company was in the first echelon with annual sales of more than 100 million yuan. In the field of air curtain machine, Nedfon was the mainstream brand and had a strong influence in the domestic market.
Domestic revenue grew rapidly
In terms of regional distribution, sales in East China, South China and central China accounted for a relatively large proportion. Among them, the growth rate in Central China, North China and Northeast China is significantly higher than that in other regions.
The net cash flow from operating activities during the reporting period was 27885081.42 yuan, and the net assets attributable to the shareholders of the listed company by the end of 2021 were 739848454.78 yuan.
During the reporting period, the sales expense was 73891947.73 yuan, with an increase of 82.21% over the same period of the previous year. There are 3 main reasons for the increase. First, due to the impact of COVID-19 in 2020, the business publicity was limited. Also, the company has successively increased the advertising investment of high-speed railway stations since the fourth quarter of 2020. Lastly, the salary expenses of sales personnel increased.
Introduction to Nedfon's main business
The overall competition in China's indoor ventilation system industry is fierce, and the scale differentiation between low-end and high-end is obvious. In the field of fresh air system, according to the report of All View Cloud, there are currently 600-800 enterprises in the domestic fresh air industry, but large-scale enterprises is low in number and not gathered together in one area.
As the mainstream brand, Nedfon has strong influence in the domestic market. The competitiveness of other brands of wind curtain machines in this field is rather less strong. With the gradual emergence of the "Matthew effect", degree of concentration of the industry will further increase in the future.
The company is mainly engaged in the design, R & D, production and sales of indoor ventilation system products. The products mainly cover two categories: fresh air series products and air curtain machines, with hundreds of series and thousands of models. They are suitable for civil housing, municipal infrastructure, commercial places, industrial plants and other fields of the national economy.
The sales volume of fresh air industry will reach 42.7 billion yuan in 2022
According to the statistics of Huajing Industry Research Institute, the growth of China's fresh air industry has shown in recent years. The market scale has been growing continuously from 2013 to 2020, and the fresh air system industry is in a rapid growth period in China. Under the catalysis of the epidemic in 2020, the fresh air system has gradually been sought after by consumers, with the overall market scale reaching 20 billion yuan and a compound growth rate of more than 30% in recent six years. According to All View Cloud, the sales volume of fresh air systems in China will reach 4.61 million units in 2022, with a year-on-year increase of 48.2% and sales will reach 42.7 billion yuan, with a year-on-year increase of 46.9%.
