On March 21, Bichamp Cutting Technology(Hunan) Co.Ltd(002843) held the 2021 annual general meeting of shareholders. At the meeting, chairman Fang Hong introduced the company’s strategic plan for the new year: focusing on the development axis of advanced manufacturing, while continuously improving the market share of the main sawing industry with the goal of “double 50”, further give play to the company’s comprehensive application ability in advanced manufacturing technology, and cultivate the consumer electronics business into a new performance growth point of the company.
first main business high-quality growth
Sawing business is the “traditional” main business of Bichamp Cutting Technology(Hunan) Co.Ltd(002843) and the company is now the leading enterprise in this segment in China. In 2022, Bichamp Cutting Technology(Hunan) Co.Ltd(002843) will further improve the ability to replace imports, expand exports and maintain high-quality development.
Bichamp Cutting Technology(Hunan) Co.Ltd(002843) revealed that the company is the third batch of manufacturing individual champion cultivation enterprises recognized by the Ministry of industry and information technology of the people’s Republic of China. At present, it has basically met the recognition conditions of individual champions, and plans to apply for individual champion demonstration enterprises in 2022.
Bichamp Cutting Technology(Hunan) Co.Ltd(002843) relevant person in charge introduced that at present, the company takes “the Chinese market share of bimetallic band saw blade is 50%, and overseas sales account for 50% of the company’s sawing business sales” as the medium-term goal, and makes efforts in technology research and development, process upgrading, overseas market development, industrial chain expansion and other aspects, committed to becoming a world leading manufacturer and service provider of sawing products.
The company said that in 2021, the company’s overseas business made breakthrough progress in many aspects, with an annual export revenue of 114 million yuan, a year-on-year increase of 90.36%, which is an important increment of the company’s performance in 2021. This year, the company will continue to further promote the internationalization strategy, take advantage of the mature channel resources of AKG invested by enabling in the European and American markets, and further expand the brand reputation and market share of the company’s sawing products in the world.
consumer electronics sector steadily advancing
As early as 2020, Bichamp Cutting Technology(Hunan) Co.Ltd(002843) revealed the strategic intention to enter the field of consumer electronics, which made substantial progress in 2021.
According to reports, in the consumer electronics sector, the company has set up Dongguan branch in 2021 and completed the construction of Dongguan R & D base. Team building and market development are progressing steadily.
At the same time, the company has formed in-depth strategic cooperation with Yada by indirectly participating in Yada (Luoding) and Yada (Shenzhen). Public information shows that Yada is a well-known manufacturer of consumer electronic components and is one of the largest power suppliers, with strong independent R & D capability and brand advantages.
Bichamp Cutting Technology(Hunan) Co.Ltd(002843) relevant person in charge said that the development ability of the company’s consumer electronics business has been effectively strengthened through resource sharing with Yada in business, R & D, technology and channels. The company’s consumer electronics business scope is intended to cover consumer electronic chargers, various high-frequency switching power supplies, photovoltaic power supplies, magnetic electronic components, electronic circuit boards and their accessories.
As an important strategic direction, Bichamp Cutting Technology(Hunan) Co.Ltd(002843) will actively build the consumer electronics business segment into a new performance growth engine. Xie Yingbo, Secretary of the board of directors of the company, said at the shareholders’ meeting that this year, it will give play to the platform role of the capital market and precipitate the relevant layout of the consumer electronics business. It is revealed that in the first two months of this year, the cumulative revenue of YadA electronics exceeded 200 million yuan.
Insiders said that Bichamp Cutting Technology(Hunan) Co.Ltd(002843) achieved a sales revenue of 530 million yuan in 2021. Once the consumer electronics business is incorporated into the system of Listed Companies in the future, it is expected to significantly improve the company’s revenue level.
At the meeting, Bichamp Cutting Technology(Hunan) Co.Ltd(002843) defined the shareholder return plan for the next three years, and distributed dividends in the form of cash, shares or a combination of the two. At the same time, the profit distribution plan for 2021 was also approved: it is proposed to distribute a cash dividend of 1.5 yuan for every 10 shares, with a total amount of 31.497 million yuan. It is worth noting that since its listing in 2017, Bichamp Cutting Technology(Hunan) Co.Ltd(002843) has paid dividends every year, with a cumulative cash dividend of 265 million yuan, far exceeding the net amount of raised funds.
