On April 22, Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) (stock code ” Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) “) disclosed the annual report of 2021: the operating revenue of the current period was 392494200 yuan, a year-on-year increase of 7.78%; The net profit attributable to the parent company was 857733 million yuan, a year-on-year increase of 2.36%. The reporter of economic information daily found that in 2021 Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) not only the performance grew steadily, but also its R & D investment and brand influence were further improved. One belt, one road initiative will be followed by Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) to keep up with its leading customers’ needs and enhance its competitiveness.
Steady growth in business performance and further enhancement of brand influence
According to public information, Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) is mainly engaged in the R & D, production and sales of precision equipment for sheet and strip forming and processing, key parts and supporting parts of special equipment. At present, Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) has formed two product lines and precision manufacturing systems of thousands of models and specifications. Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) mastered the manufacturing technology of key parts and system integration technology in the field of sheet and strip forming processing equipment in iron and steel and non-ferrous metallurgy industries, and became a high-end equipment manufacturer in this field; In the field of special equipment, Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) aims at the supporting needs of customers for high-performance parts and components, and successfully develops high-performance and high reliability supporting parts and structural components of special vehicles, which can meet the needs of customers.
The annual report shows that Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) achieved an operating revenue of 392494200 yuan in 2021, with a year-on-year increase of 7.78%; The net profit attributable to the parent company was 857733 million yuan, a year-on-year increase of 2.36%. As for the reasons for the steady growth of business performance, Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) said that it was mainly due to the overall improvement of the national economy, the rise of global commodity prices and other factors. The benefits of the iron and steel industry reached a record high. In addition, the company was listed on the gem of Shenzhen Stock Exchange in 2021, and the influence of the company’s brand was further enhanced, which played a good role in promoting the business development of the company’s precision equipment for sheet and strip forming and key parts and components.
From the perspective of product structure, the income generated by Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) sheet and strip forming and processing precision equipment in 2021 was 1332922 million yuan, accounting for 33.96% of the current operating income and 40.88% of the gross profit margin; The revenue generated from supporting parts of special equipment is 1443807 million yuan, accounting for 36.79% of the current operating revenue and the gross profit margin is 53.20%; The revenue generated by key parts is 1116347 million yuan, accounting for 28.44% of the current operating revenue and 51.62% of the gross profit margin.
The reporter of economic information daily found that at present, Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) the precision equipment and key parts of sheet and strip forming and processing are mainly positioned in high-end equipment and parts in iron and steel and non-ferrous metallurgy industries, and some equipment and production line unit products have become the industry’s first and benchmark. Moreover, Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) has cooperated with the direct subordinates or joint ventures of major global iron and steel groups, such as Baowu iron and Steel Group, Hegang group, Shagang Group, Angang Group, etc., and has also established good cooperative relations with many subordinate companies of Italy Danieli group, a world comprehensive metallurgical equipment manufacturing giant, and Metallurgical Corporation Of China Ltd(601618) group, a Chinese Metallurgical Construction operator. In many large-scale metallurgical projects they have undertaken, Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) as a supporting supplier of precision equipment for sheet and strip forming and processing.
In addition, Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) special equipment supporting parts are mainly the key parts and structural parts of special vehicles. The products are widely used in various types of special vehicles with excellent quality and high reliability. It is noteworthy that the Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) supporting special equipment has been tested in many actual combat drills and major national activities, and its product performance has been widely recognized by the users of special equipment.
adhere to independent innovation and R & D and master a number of key technologies
As a high-tech enterprise, continuous R & D investment is the driving force for the growth of the enterprise. The Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) core competitiveness is concentrated in the product attribute of “specialty, precision and expertise”. In 2021, Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) invested 375676 million yuan in R & D expenses, an increase of 8.50% year-on-year. Prior to this, Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) invested 256326 million yuan and 346253 million yuan in R & D expenses in 2019 and 2020 respectively, and the R & D expenses have continued to grow in recent three years.
At present, Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) through solid technology accumulation and continuous technology research and development, has mastered a number of key technologies in this field, aimed at similar high-end products imported from abroad, concentrated on technology research and development, and further surpassed similar imported products in terms of cost advantage and all-round service Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) relying on the above technology R & D path selection, product field selection and personalized service system, the company has high bargaining power and continues to maintain a considerable profit margin.
It is worth mentioning that Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) has the advantages of specialization and self production. At present, the company has subordinate factories of Seiko machines engaged in sector and belt forming and precision equipment manufacturing, subordinate factories of vibrotor transmission engaged in roll system parts and bearings manufacturing, subordinate factories engaged in coupling manufacturing and subordinate factories of Jingzhou Dingrui engaged in metal structure manufacturing, as well as professional processing workshops such as heat treatment and welding, Carry out the R & D and manufacturing of precision equipment for sheet and strip forming and key parts and supporting parts of special equipment respectively. All professional factories are equipped with technical teams and production personnel, and widely apply the company’s continuous R & D and innovative equipment and parts production technology and production technology to realize the refinement and specialization of the product chain.
In addition, self production is also an important direction of Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) technological innovation. At present, Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) the non standardized key parts formed by the modular innovation of equipment products have basically been self-produced and have independent intellectual property rights. At the same time, the company has gradually carried out technical research on the parts with high added value and high technical content in equipment products to further improve the self-produced level of equipment; The company also pays attention to independent development in the production and manufacturing process, has carried out a variety of innovations in the process system of main products, and has formed a number of core technologies; The company also has a self-developed equipment comprehensive test and verification platform, which can test run and continuously optimize and improve the working performance of equipment and production line products, so as to ensure the applicability and reliability of the company’s products when delivered to customers.
Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) said that the company will continue to tap market opportunities in the field of machinery manufacturing, use its own technology accumulation and manufacturing system to carry out technical research and product research and development in more subdivided fields, so as to quickly form competitiveness and occupy the subdivided market, and build Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) into a high-end machinery manufacturer of “special, fine and specialized”.
strengthen cooperation between one leading customer and actively one response to “one belt, one road” initiative
One belt, one road initiative, will be closely followed by Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) , as for future development strategies. In fact, at the beginning of the establishment of Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) company, it carried out technical research aimed at the precision equipment and key parts of sheet and strip forming processing in iron and steel and non-ferrous metallurgy industry, and successfully developed the precision equipment and key parts of sheet and strip forming processing with independent intellectual property rights, becoming an excellent representative of the localization of imported equipment in iron and steel and non-ferrous metallurgy industry.
Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) pay attention to the industry demonstration effect of key projects and benchmark projects of leading customers in the industry or subdivided fields, and form a long-term and strategic partnership with these customers. On the one hand, leading customers need to maintain the competitive advantage of products in the same industry, and Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) products will continue to play a role in improving customers’ production quality; On the other hand, the new technology and new equipment of leading customers in the industry or subdivided fields are generally at the forefront of the industry. Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) and leading customers can realize technical cooperation, create key demonstration projects, and drive the promotion and popularization of new technologies and new equipment in the industry.
In terms of customer expansion, Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) forms strategic cooperative relations with more industry leading customers. For example, Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) on the basis of continuing in-depth cooperation with Baowu group and Shougang Group, has gradually formed an in-depth cooperation relationship with Angang Group. Angang Group’s cold rolling line 1, line 4 and its subordinate acid rolling line of Panzhihua Iron and steel have successively adopted Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) equipment and parts products. Angang Group has become a key customer of Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) strip forming precision equipment and key parts, The market share of Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) in leading customers and high-end products has been further improved.
The “one belt, one road” initiative has transformed the advantages of China’s steel industry’s capacity, technology, experience and mode into the advantages of cooperation with the countries along the line. This has also created favorable conditions for the Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) ‘s “going out” of the precision equipment and key parts and components of the strip forming process. Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) will one belt, one road, one belt, one road, and the other enterprises will be promoted to cooperate with the Metallurgical Corporation Of China Ltd(601618) group. The technology and products will be promoted to the “all along the way” along the national and regional markets, so as to enhance the international fame and influence of Xiangyang Boya Precision Industrial Equipments Co.Ltd(300971) brand.
