August 15 evening, Hongfa half-yearly report, said the company realized operating income of 5.869 billion yuan in the first half of the year, an increase of 18.63%; net profit after non-recurring gains and losses of 588 million yuan, an increase of 28.51%.
Hongfa is one of the earliest companies in China to produce relays, and has now become the world's largest relay manufacturer. The company is mainly engaged in the production, research and development, and sales of relays and electrical products, the company's main products cover relays, low-voltage electrical appliances, high and low-voltage complete sets of equipment and other categories, applied to household appliances, smart homes, automotive industry, smart grid, industrial control, new energy and other fields.
Benefit from the wind, light, storage and other new energy, charging piles, 5G and other hot industries, high-speed growth in the first half of Hongfa power relay business than the same period of the previous year to achieve steady growth; Signal relay business in the traditional security field with strong product capabilities and leading market position, maintain a good growth momentum, while in the medical field into the domestic medical equipment head enterprises, domestic substitution We have successfully landed on the ground, and successfully introduced new solutions in the field of new energy.
In addition, in the global new energy vehicle production and sales of high-speed growth in the background, Hongfa shares of high-voltage DC series products continued the previous high growth. During the reporting period, the company's high-voltage DC product series continued to win the favor of the world's major benchmark car manufacturers by virtue of its outstanding quality performance and cost-effective advantages, and has basically achieved comprehensive cooperation with the world's mainstream car manufacturers.
Data shows that Hongfa's high-voltage DC relay products have already penetrated into domestic and international mainstream automobile enterprises such as Tesla, Volkswagen MEB, Mercedes-Benz, BYD, etc., and also established cooperation with Azure, Ideal, Xiaopeng, Zero, Great Wall and other automobile enterprises. in 2021, Hongfa's high-voltage DC relay revenues increased by 147% year-on-year, and its market share in the world increased significantly by 10 percentage points to 36%, and its market share in the domestic new energy vehicles increased significantly to 36%. to 36%, and its market share in the domestic new energy vehicle market is more than 50%.
It is worth mentioning that as early as 2017, Hongfa began to cooperate with Tesla, and is currently the only core supplier of DC relays for Tesla ModelY.
Dong Wu Securities believes that, as a core component of new energy vehicles, the scale of the high-voltage DC relay industry will reach 16.2 billion yuan in 2025, and the compound growth rate of 2021-2025 will reach 44%; in the industry's high beta;+ share of the sustained improvement of the add-on, Hongfa's high-voltage DC relay revenue in 2025 is expected to reach 8.1 billion yuan, which will continue to pull the company's revenue Rapid growth, and then create a Hongfa shares.
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