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HUDI International Group (NASDAQ: HUDI) revenue soared in 2021, supported by many state-owned enterprises

HUDI International Group (NASDAQ: HUDI) revenue soared in 2021, supported by many state-owned enterprises

May 11
17:10 2022

On February 2, 2022, HUDI International (NASDAQ: HUDI) in Wenzhou, China, released its financial report for fiscal year 2021.

 

According to the financial report, Huadi International’s market performance in 2021 is gratifying, as of the financial statement date, Huadi International achieved a total revenue of 70.25 million US dollars and gross profit of 11.32 million US dollars, compared with the previous fiscal year, an increase of 18.79% year-on-year. and 6.15%. In addition, Huadi’s international market performance is also remarkable, with domestic and international sales increasing by 12.40% and 44.2% respectively. The achievement of such excellent results is not only the result of their significant efforts, but also represents the trust and recognition of the market for the Huadi brand.

The financial report data also shows that the reason Huadi International’s revenue growth is strong is because it has cultivated its own five major international market sectors, according to the proportion of sales in total revenue, respectively, China, the United States, India, Australia, Switzerland, and other countries, with sales accounting for 81.22%, 8.78% and 6.41%. 、0.84%、0.79%。 The international strategic layout of Huadi International has achieved initial results and has officially entered a new track of high-quality development.

The weighted average selling price of raw materials (“ASP”) continued to rise in fiscal 2021 amid the increased demand for building materials and the incomplete overall supply chain of the current market. Seizing this opportunity, Huadi’s international and domestic sales did not fall but rose, achieving a net growth of more than 12.40% compared with the previous fiscal year, and achieving international sales revenue of 17.12 million US dollars, an increase of 5.25 million US dollars year-on-year, and the growth rate exceeded 44.2 percentage points.

Today, the global epidemic is still severe, the shortage of steel materials and the increase in international panic costs, in a long time is difficult to improve, Huadi International gross profit increased by 6.15% year-on-year to 11.32 million US dollars, highlighting its strong strength to resist pressure, effectively boosting the confidence of the market. The industry also has reason to believe that Huadi’s brand influence and profit growth space will further increase, and the broad steel industry is expected to usher in a new development outlet under the leadership of Huadi

Since 2020, the impact of the new crown pneumonia epidemic has affected the global economy, but the steel industry, as the soul plate in the infrastructure, is in the upstream echelon of the infrastructure chain, and its development is more stable due to the burden of economic recovery and driven by the upward trend of the traditional infrastructure chain. With the first-mover advantage achieved in the industry, Huadi International seized the outlet of opportunity, pierced the haze in adversity, and achieved adversity reversal.

At present, Huadi International’s products include 304, 304L, 304H, 321, 321H, 316 、316L、317L、310S、347H、S31500、S31803  S32205 stainless steel seamless pipe specifications are (6MM-720MM) OD× (1.00MM- 30.00MM) WT× (4000-15000MM) LONG; and OD12MM- OD300MM stainless steel round steel, because these products are widely used in petroleum, chemical, chemical fiber, pharmaceutical machinery, smelting, aerospace, papermaking, food, shipbuilding and other industries, Huadi International has obtained a large number of high-quality orders.  It has maintained good cooperative relations with State Nuclear Power, China Aerospace, China Guodian, PetroChina, CNOOC, CRRC, China Huaneng, China Shipbuilding Industry Corporation, and other state-owned enterprises.

In November 2021, Huadi International signed a strategic cooperation framework with Zhejiang Lanney Gas Equipment Co., Ltd., and the two sides agreed to jointly develop and produce stainless steel pipes for high-pressure hydrogen storage tanks, and this contract alone not only brought value to the company 326 The net income of 10,000 US dollars also sounded the trumpet of victory in advance for the company’s next stage of strategic deployment.

As a leading leader in the industrial stainless steel, seamless steel pipe and pipe industry, Huadi International’s production capacity has always been in a leading position in the industry. Since its inception in 1992, Huadi International has invested in the construction of new perforation, cold rolling, steelmaking workshop, rolling mill, and introduced advanced production equipment such as smelting, cold rolling/cold drawing, inspection, and testing, and has obtained ISO9001 certification and full National industrial product production license.

Nowadays, Huadi International has opened a complete upstream and downstream industrial chain, and gradually developed into an industry giant spanning the three major fields of steel, material recycling and finance. Huadi International has not only built a developed sales network in more than 20 provinces in China, but also exported its products to 20 countries and regions such as the United States, Mexico, Thailand, Australia, Argentina, Taiwan, India, the Philippines, the United Arab Emirates, and Canada, becoming a well-deserved steel business empire. Backed by the three major manufacturing bases of Wenzhou, Qingtian and Shanghai, Huadi International is gradually moving from success to glory.

Decisive battle in this dynasty, the realization of the dream in the future, Huadi International will continue to maintain a strong momentum of development, with the support of strong strength, step by step to seize the opportunity, in the key historical node of the recovery of the epidemic, show the development potential of the coordinated market, with high-quality products and services, to provide a benign model for the development of the industry, while consolidating the position of the industry, step by step, writing a new miracle belonging to Huadi.

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