Sales gross profit margin was 25.62%, down 4.96% year on year; During rate was 12%

Year-on-year increase of 8%; Sales net interest rate of 13.16%, fell 12.4% year on year, mainly due to higher gross profit margin of hydrogenated poly cold industrial electric heater sluggish demand for pure sine wave inverter and rapidly falling at the same time, research and development, the increase in the costs of financial net interest rates fell sharply; Month-on-month basis, gross margin and net profit margin increased by 3.87 and 6.5% respectively, net profit growth of 46%, in line with the seasonal characteristics and positive month-on-month.

1 quarter because MinYongDian heater product demand increased 42% year-on-year, lead to the business revenue year-on-year growth; But high gross profit margin of industrial electric heaters are influenced by polysilicon market sales revenue decline, resulting in a decline in net profit.

Hydropower heater as new civil products, die-casting products such as electric heaters, industrial electric heater in the field of oil, gas and chemical industry development, the gross profit margin will gradually recover, performance will have a bigger reverse it.

2. MinYongDian heater product pull litre civilian business growth.

New MinYongDian heater  power converter products, and constantly recognised by customers; Water is heated and the new business areas, growth is significant. 

Haier, himin, etc have been on the quantity.

Company of haier water heater supply can account for 40-50% of the total; Midea water heater demand is big, ranking the second; Nanjing AO Smith, the high grade product of electric heater, using the products of the company.

Conservative estimates, heating water to sales revenue this year to 80 million yuan.

Before in addition to this, mainly foreign companies such as Emerson, hangzhou and do die casting such as electric heaters, coffee machine, steam iron, etc all can use, at present, the company actively open up the business, is expected throughout the year can do 3000-40 million, the total reached 110 million yuan, the company performance boost.

3. The traditional electric heater air conditioning demand picks up.

MinYongDian heater company growth, step by step 1 quarter growth of 42%, mainly because of the following reasons: 1) electric heater air conditioning sales increase quickly: last year, the impact on the company because of my poor sales of beauty, beautiful back this year, the growth of more than 50%, gree more than 30%; Haier water heater increase more than 70%, this also brings big support for the stable performance.