Yangtze River Business Daily reporter Li Jing
The annual performance grew steadily, and Boya Precision (300971. SZ) to accelerate its strategic layout.
Boya Precision recently announced that it plans to integrate the superior resources of all parties through the establishment of a subsidiary through joint venture holding, and invest 12 million yuan to set up Xiangyang Boya Intelligent Drive Equipment Technology Co., Ltd. (hereinafter referred to as "Boya Intelligent Drive").
For the goal of this investment, Boya Precision said that the establishment of a subsidiary will help enrich the company's market-oriented new product research and development and industrialization system, enhance the company's overall competitiveness, and achieve the purpose of co-construction, sharing and win-win.
According to the 2023 annual report, Boya Precision achieved a total operating income of 428 million yuan last year, a year-on-year increase of 3.16%; The net profit attributable to the parent company was 66.2584 million yuan, a year-on-year increase of 7.05%. The company intends to distribute 2.5 yuan (tax included) to all shareholders for every 10 shares.
Integrate resources to accelerate business development
According to public information, Boya Precision was established in Xiangyang, Hubei Province in 1999, is a high-tech enterprise mainly engaged in the research and development, production and sales of precision equipment and key components and special equipment supporting parts for strip forming processing, forming two major product lines, thousands of models and specifications of precision manufacturing system, which are widely used in automobile, environmental protection, industry, construction and other fields at home and abroad. In April 2021, Boya Precision was listed on the Growth Enterprise Market of the Shenzhen Stock Exchange.
According to the investment announcement issued by Boya Precision, in order to meet the needs of future strategic development, strengthen competitiveness and expand the product market, the company integrates the superior resources of all parties through the establishment of subsidiaries through joint venture holdings, and invests in the establishment of Boya Zhiqi with its own funds. The registered capital of Boya Zhiqi is 20 million yuan, of which Boya Precision subscribes 12 million yuan with its own funds, accounting for 60% of its registered capital, and after the completion of this investment, Boya Zhiqi will become a holding subsidiary of Boya Precision.
Recently, Boya Zhiqi completed the registration procedures for the establishment of the company and obtained the business license issued by the Xiangyang Municipal Market Supervision and Administration Bureau.
Boya Seiko pointed out in the announcement that the investment in the establishment of a holding subsidiary will help enrich the company's market-oriented new product development and industrialization system, and the target company will focus on integrated equipment products with electric drive technology as the core to provide innovative solutions for industrial equipment upgrading. Through the establishment of a holding company, we can effectively integrate the superior resources of all parties, give full play to the potential of core technical talents, promote business development, accelerate the company's strategic layout, enhance the company's overall competitiveness, and achieve the purpose of co-construction, sharing and win-win.
The Yangtze River Business Daily reporter noticed that in March this year, Boya Seiko's world's first set of intelligent drive winding equipment was successfully tested. The product will be updated and upgraded from the traditional "three high" (high energy consumption, high pollution, high safety) equipment to the "four provinces" equipment, that is, saving money (low investment and operation and maintenance costs), worry-free (high reliability), labor-saving (simple use and maintenance), and land-saving (smaller footprint), the overall efficiency will be increased by more than 20%, and the use and maintenance costs will be reduced by more than 30%. The launch of the equipment marks a major breakthrough in the field of metallurgical strip forming equipment manufacturing, and is also the result of Boya Seiko's technological innovation and industrial synergy.
Financial data show that since its listing, Boya Seiko's revenue has maintained stable growth, with operating income of 392 million yuan, 415 million yuan, and 428 million yuan from 2021 to 2023 respectively; The net profit attributable to the parent company will recover in 2023 after falling by nearly three percent in 2022, achieving 66 million yuan, a year-on-year increase of 7.05%.
Innovation drives the growth of both businesses
As one of the earliest enterprises in mainland China to start the development of new transmission parts for special equipment, Boya Precision has been deeply involved in the industry for more than 10 years, and in 2005, the parts produced by the company changed the situation of Baosteel Group's imports from Japan's Sanhuang Company for many years, and the product life is more than 2.6 times that of Japanese products.
It is reported that in the field of strip forming and processing equipment in the steel and non-ferrous metallurgical industries, Boya Precision has mastered the manufacturing technology and system integration technology of key components, and has successfully replaced similar products from well-known manufacturers in Germany, Japan and Italy, becoming a high-end equipment manufacturer in this field; In the field of special equipment, aiming at the customer's supporting needs for high-performance parts, the technical accumulation and manufacturing experience of key components of precision equipment for strip forming and processing are applied to the research and development process of special equipment supporting parts and continuous technological innovation, and successfully developed high-performance and high-reliability special vehicle supporting parts and structural parts products, effectively guaranteed and improved equipment performance, and established a good reputation and image in this field.
According to Boya Seiko's 2023 annual report, the company's special equipment supporting parts business achieved revenue of 117 million yuan, a year-on-year increase of 19.13%, accounting for 27.43% of revenue; The business of precision equipment and key parts for strip forming and processing achieved operating income of 283 million yuan, a year-on-year increase of 8.64%, accounting for 66.12% of revenue. The company said that mainly due to the recovery of relevant market demand and the increasing demand for downstream new energy and new materials metal plate and strip, the company increased market development efforts, seized project opportunities, and achieved stable growth in related businesses.
It is worth mentioning that Boya Precision pays attention to independent research and development, and external sales are self-developed products, the company through the continuous accumulation of product design, manufacturing technology, improve product performance, benchmark the first-class level of the industry at home and abroad, meet and support the value upgrade of customers' final products, so as to maintain a high profit level. From 2021 to 2023, the company's R&D investment will be 37.5676 million yuan, 46.2756 million yuan, and 47.2417 million yuan respectively.
Looking forward to the future development, Boya Precision said that on the basis of always adhering to the product positioning of "specialized, refined and special" and aiming at the market demand of "import substitution", the company put forward the development strategy of "differentiated import substitution" and "boutique manufacturing". That is, by using the technical advantages of Boya Precision in mechanical research and precision manufacturing, aiming at the pain points and difficulties in the downstream industries of mechanical applications, and developing high-end equipment products and their supporting key components with differentiated thinking and import substitution ideas; At the same time, aiming at the demand for high-value products and services recognized by the market, benchmarking the technology and quality level of domestic and international advanced competitors, and maintaining the advanced and cutting-edge level of technology research and development and manufacturing in the fields to which the products belong.
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