Zhejiang Jindao Technology Co., Ltd. (hereinafter referred to as Jindao Technology) has been focusing on the industrial vehicle transmission device industry, mainly engaged in the research and development, production and sales of various types of forklifts and other industrial vehicle transmissions. Jindao Technology provides customers with the overall technical solutions of industrial vehicle transmission system, with advanced technology, excellent product quality and excellent after-sales service, has won the trust of forklift enterprise customers at home and abroad, and Hangcha Group, LiuGong, Jianghuai UnionPay, Mitsubishi Heavy Industries, Doosan forklifts, TaiLifu and other famous forklift vehicle enterprises to establish and maintain a long-term and stable cooperative relationship, is one of the few companies in the mainland to break into the supply chain of internationally renowned forklift factories. Golden Equator technology has achieved a high market share in the domestic market. Recently, the company successfully landed on the GEM.
Source: Photo Network
The forklift industry in mainland China is developing rapidly
As a company with great influence in its own field, the development of the industry is closely related to Golden Equator Technology.
Forklift refers to a variety of wheeled handling vehicles that carry out loading and unloading, stacking, short-distance transportation and heavy load handling operations for complete pallet goods. Forklift trucks are material handling machinery, which are widely used in stations, ports, airports, factories and warehouses.
In the mainland, in the 1950s, Shenyang Electrical Machinery Factory surveyed and developed the first electric three-fulcrum counterbalance forklift, and Wuyi Machinery Factory (the predecessor of Dalian Forklift Co., Ltd.) surveyed and developed the first 5-ton internal combustion forklift, which opened the development history of the forklift industry in the mainland. From the late 1970s to the mid-1980s, the whole industry organized two joint designs, laying the foundation for the development of the industry. Since the beginning of this century, domestic forklift enterprises have created their own brands through technological innovation, and a number of forklift truck companies ranked among the world's top have emerged. In the past decade, the forklift industry in mainland China has achieved rapid development, and forklift sales have fluctuated and increased. According to the statistics of the Industrial Vehicle Branch of the China Construction Machinery Industry Association, in 2010, the sales volume of forklift trucks in mainland China was 232,400 units; by 2020, the sales volume of forklift trucks in mainland China has reached 800,200 units, with a compound growth rate of 13.16% in the past ten years. In 2020, China's forklift sales accounted for a further increase in global forklift sales to 50.56%.
From the perspective of the industry environment, with the improvement of people's living standards, the status of e-commerce in resident consumption has been continuously improved, and the rapid development of e-commerce has promoted the rapid increase in logistics demand. At the same time, the mainland government actively promotes the development of the logistics industry, in March 2019, the National Development and Reform Commission, the Central Cyberspace Administration, the Ministry of Industry and Information Technology and other 24 departments jointly issued the "Opinions on Promoting the High-quality Development of Logistics to Promote the Formation of a Strong Domestic Market", in September 2020, the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Finance and other 14 departments jointly issued the "Implementation Plan for Promoting the Deep Integration and Innovative Development of the Logistics Industry Manufacturing Industry", aiming to promote logistics cost reduction and efficiency, and promote the transformation and upgrading of the manufacturing industry. Under the background of the continuous and rapid development of the logistics industry, forklifts, as an important material handling equipment, are facing good development opportunities.
Strong accumulation, binding heavy customers
As far as Golden Equator Technology is concerned, the company has already had a high market position in the industry with its own advantages.
Since its inception has been positioned in the field of forklift gearbox research and development, manufacturing and sales, after years of research and innovation, the company has mastered a number of core technologies in the mechanical forklift transmission, hydraulic forklift transmission and electric forklift transmission, and formed a multi-level mainstream product coverage.
The company has long been focused on the field of industrial vehicle transmission manufacturing, in the forklift vehicle manufacturers in the process of new product development, the company closely cooperates with the vehicle manufacturers, can be based on product performance and assembly requirements for synchronous development, and constantly in accordance with its latest requirements for continuous optimization and improvement, and actively solve the problems of customers in the development of new products. Through vigorous R&D investment, the company has further improved the performance of the transmission in a variety of forklift systems.
The company has been identified as a high-tech enterprise by the Department of Science and Technology of Zhejiang Province, the Department of Finance of Zhejiang Province, the State Taxation Bureau of Zhejiang Province and the Local Taxation Bureau of Zhejiang Province, and has been rated as a high-tech small and medium-sized enterprise in Zhejiang Province, a research and development center of zhejiang provincial high-tech enterprises, a high-quality manufacturing enterprise in Zhejiang Province, and a "hidden champion" cultivation enterprise in Zhejiang Province. As of the end of the reporting period, the company has authorized 101 patents and has been identified as "Shaoxing Patent Demonstration Enterprise". The company's "YQX series forklift hydraulic transmission", "JDS series forklift mechanical transmission", "HDCS series battery forklift transmission" and many other products have obtained high-tech product certification.
The company's core products are various types of forklift gearboxes, the company's products have strong bearing capacity, high transmission efficiency, low vibration noise, smooth operation, compact structure and other technical characteristics. The company adheres to independent research and development and continuous innovation, has a strong R & D advantages, as of the end of June 2021, the company has 24 invention patents and 60 utility model patents.
After years of hard work, the company has accumulated rich manufacturing experience. On the one hand, in the process of production practice, the company continuously optimizes the production process, according to the characteristics of the company's products with multiple varieties and small batches, through the independent design, development and continuous improvement of various types of tooling fixtures, the production line layout optimization, the realization of local automation, reducing the manual error rate, and comprehensively improving the flexible manufacturing capacity. On the other hand, the company has established a high-standard production workshop in accordance with the requirements of internationally renowned forklift OEMs for qualified suppliers. Through the introduction of international advanced processing equipment such as the German automatic CNC machining center, the overall accuracy, intrinsic quality, and carburizing effective hardening layer depth of core components such as gears have been effectively improved, so that the surface hardness, wear resistance and impact resistance have reached the leading level in the industry. In addition, the company has further improved the stability and reliability of the product by investing in advanced testing and testing equipment to monitor and effectively manage each process in the production process.
The company is one of the first private enterprises in mainland China to enter the field of forklift gearbox, and has a stable customer base and has become a strategic partner of interdependence. The largest customer of the company's forklift gearbox is Hangcha Group, which has a strong competitive advantage in product performance, sales channels and cutting-edge technology research and development layout, and has long been in a leading position in the industry. In addition, the company also has long-term and deep cooperative relations with mitsubishi Heavy Industries, Doosan forklift trucks, JAC UnionPay, LiuGong and other well-known OEMs. In recent years, the sales of the company's products have increased year by year, and the market share has continued to increase, which fully reflects the recognition of the company's products by customers (the market share is shown in the figure below).
Fundraising projects enhance core competitiveness
This listing will further enhance the core competitiveness of Golden Equator Technology. The company's IPO investment projects include: new energy logistics transmission machinery and hydraulic transmission transmission construction project, technology research and development center project.
Among them, the new energy logistics transmission machinery and hydraulic transmission transmission construction project plans to build an annual output of 80,000 sets of new energy electric forklift drive units, 20,000 sets of wet drive axle, 60,000 sets of automatic hydraulic transmission production base at No. 689 Bujin Road, Keqiao District, Shaoxing City, Zhejiang Province, the base includes production plants, office buildings, etc., the project is planned to build a construction period of 2 years. After the implementation of the project, it can significantly increase the company's production capacity, while greatly improving the intelligent level of the company's production line, consolidating the company's main business system, and improving the market share and sustainable competitiveness of the company's products.
The technology research and development center project plans to integrate the existing R&D, trial production, product testing and other departments, increase the software and hardware investment in research and development, trial production, testing and other aspects, in order to further enhance the company's product development, trial production, testing and testing level, consolidate and expand the competitive advantage of the company's products, shorten the gap with the international advanced level, and better meet the market demand.
The company takes "the world's leading transmission expert" as its corporate vision, in the future, the company will take this listing as an opportunity, take the forklift gearbox as the core, take technological innovation and process improvement as the means, focus on the domestic, enter the international, and become an internationally renowned and domestic leading forklift gearbox manufacturer.