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Opening Up New Business Growth Space - SUPCON 2022 Q1 Results

April 25, Zhejiang SUPCON Technology Co., Ltd. (688777.SH) disclosed 2022 Q1 Report. In the report, SUPCON achieved a revenue of 981 million yuan (154.53 million USD), by a year-on-year increase of 34.56%; net profit attributable to equity holders reached 59.89 million yuan (9.43 million USD), by a year-on-year increase of 70.94%. Revenue and net profit attributable to equity holders maintained rapid  growth for 7 consecutive quarters.

SUPCON's profitability continued to increase. During the reporting period, gross profit margin reached 39.14%, with a year-on-year increase of 2.58 percentage points. During the reporting period, the sales expense ratio and financial expense ratio decreased by 2.77 percentage points and 0.12 percentage points year-on-year, respectively, to 13.22% and 0.30%.

SUPCON continued to increase investment in R&D. The total R&D expenses in 2022 Q1 were 136 million yuan (21.42 million USD) with a year-on-year increase of 38.82%, taking up 13.81% of total revenue, increased by 0.42 percentage points.

The significant growth of revenue mainly benefits from the strong demand for digitalization and intelligence in the process industries such as petrochemical, chemical, power, metallurgy, pharmaceutical, building materials, etc., and is strengthened by SUPCON's continuous commitment in digital and intelligent products and services.

Last year, SUPCON entered BASF qualified supplier list and has undertaken a number of automation and digitalization projects for BASF. This year, SUPCON Saudi subsidiary officially passed the supplier audit of Saudi Aramco, to explore potential cooperation opportunities in digital transformation together. 

SUPCON actively explores the potential to promote the intelligent development for vertical industries. For LNG and coal chemical industry, SUPCON has made project breakthroughs in intelligent manufacturing consulting and planning. At 2022 Beijing Winter Olympics, SUPCON undertook the Olympic Cauldron hydrogen supply unit DCS project, providing a solid technical guarantee for the smooth operation of the project. To support the sustainable development of the process industry, SUPCON helped develop and implement carbon management system for Risun Group Xingtai Park, empowering downstream clients to transform to low carbon green production.

In the future, with the continuous development in new business, new industries, and new global clients, SUPCON will open up much greater space to rise, achieve sustainable high-speed growth and high-quality growth, and leave a deep footprint in the development of world industrial civilization. 

*USD/CNY=6.3482 (rate by March 31, 2022, from State Administration of Foreign Exchange)

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