Stock price soars, performance is guilty, snowman stock speculation stalls

With the hype of hydrogen energy concept, the share price of Snowman (002639) has performed well in recent years, walking out of the proud market of four boards in five days. However, it does not have the support of snowman’s stock price. According to the performance forecast of the first quarter of 2021 disclosed by the company, the loss in advance during the reporting period is 26.5-29.5 million yuan. Affected by the news, snowman shares opened sharply lower on April 13, and finally closed down the limit on that day.

Trading market shows that on April 13, snowman shares opened at a low price of 7.03%, and the limit was closed soon after the opening. However, in the early trading stage, a large amount of money was paid and the company successfully opened the limit to maintain a low shock situation. In the afternoon, snowman shares finally closed the limit again. As of the close of the day, snowman shares closed at 8.19 yuan / share, down 10%, with a total market value of 5.521 billion yuan.

On the news side, snowman shares disclosed the performance forecast for the first quarter of 2021 on the evening of April 12, and the company expects to achieve a net profit of – 29.5 million to – 26.5 million yuan during the reporting period. As for the reasons for the performance changes, snowman said that during the reporting period, affected by the rising prices of raw materials such as copper, aluminum and iron, the production cost of products increased, resulting in the decrease of gross profit margin; affected by the continuous impact of overseas epidemic, the delivery cycle extended, resulting in the sales revenue of export business not reaching the expectation, affecting the profit in the first quarter; the sales expenses increased, affecting the profit in the first quarter.

It should be pointed out that, recently, under the hype of hydrogen tuyere, the share price of snowman shares soared one after another, gaining four trading limits in the five trading days of April 6-12. According to Oriental Wealth data, from April 6 to 12, snowman shares rose as high as 52.17%, while the market fell by 4.44% in the same period.

Information shows that Snowman shares landed in the A-share market in December 2011. In the field of new energy, snowman is mainly involved in hydrogen energy technology. Its hydrogen energy product chain can be divided into four business segments, namely liquid hydrogen equipment, fuel cell integrated system, fuel cell core components (air supply system and hydrogen circulation system), hydrogenation station equipment, etc.

In response to the hydrogen speculation, snowman also said that the company’s current hydrogen related revenue accounts for a small proportion, less than 1% of the revenue, which will not affect the company’s current performance.

It is worth mentioning that snowman is currently planning a non-public offering of shares. The raised funds are intended to be used for the commercialization projects of the company’s hydrogen energy industry, so as to meet the development needs of the company’s hydrogen energy industry layout and enhance the company’s sustainable development. The specific scale and object of this non-public offering of shares have not been determined yet.

However, snowman said that the company’s fixed increase project is mainly the system integration of hydrogen fuel cells, and does not involve the production and investment of hydrogen, hydrogen storage, hydrogen liquefaction and hydrogen fuel cells. The hydrogen used in the process of raising investment projects is also purchased from outside.

In response to relevant issues, Beijing Business Daily reporter called the Secretary Office of snowman shares for an interview. The staff of the other side said that “the company’s sales revenue and profits will show up in the later reporting period”.

Beijing Business News (reporter Dong Liangma)

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