Guosheng Zhike: the proportion of high-end CNC machine tools has increased year by year, and will benefit from import substitution in the future
Nantong Guosheng Intelligent Technology Group Co., Ltd., a medium and high-end CNC machine tool manufacturer, was officially listed on the scientific innovation board of Shanghai Stock Exchange on June 30, 2020. Securities abbreviation: Guosheng Zhike, securities code: 688558. The company is a domestic advanced medium and high-end metal cutting CNC machine tool and intelligent automation production line provider, mainly providing intelligent manufacturing integration solutions for customers in precision mold, engineering machinery, automobile, industrial valves, petrochemical, new energy and other downstream terminal areas. At present, the company's business process covers technology research and development, scheme design, key parts development and optimization, system integration, installation and debugging, after-sales technical support and other links. The company has formed three major product categories, including equipment parts as support, medium and high-grade CNC machine tools as the leading, intelligent automatic production line as the extension, and has formed a vertical integrated industrial chain.
From 2017 to 2019, the company's operating revenue increased from 586 million yuan to 665 million yuan, and the net profit attributable to the parent company reached 93.0849 million yuan, 95.5352 million yuan and 84.2898 million yuan respectively, and the return on net assets of the company in the same period were 22.83%, 19.45% and 15.23% respectively; during the reporting period, the net cash flow generated by the company's operating activities increased from 41.6685 million yuan in 2017 to 10.10% in 2019, The annual compound growth rate reached 57.46%. In 2017, 2018 and 2019, the company's R & D expenses were 23.2247 million yuan, 30.5422 million yuan and 30.5493 million yuan respectively, and the proportion of R & D investment in operating revenue reached 3.96%, 4.1% and 4.6% respectively.
In 2019, the company's revenue of CNC machine tools, intelligent automation production lines and equipment parts were 413.6697 million yuan, 96023500 yuan and 1470441 million yuan respectively, accounting for 62.99%, 14.62% and 22.39% of the revenue respectively.
CNC machine tool is the most important product of the company at present. The company's CNC machine tool products are mainly metal cutting machine tools, which have achieved large-scale, intelligent, multi axis and complex processing, and belong to the high-end products in the industry.
The company has developed and sold horizontal boring and milling, pentahedral gantry, large complex gantry, five axis CNC machine tools and other high-end products. From 2017 to 2019, the company's sales revenue of CNC machine tools was 318.7498 million yuan, 446.7756 million yuan and 413.6697 million yuan respectively, which basically maintained the growth momentum. Among them, the sales revenue of high-end CNC machine tools was 103.244 million yuan, 171.7255 million yuan, 19, 3.5503 million yuan, accounting for 32.39%, 38.44% and 46.79% of the total income of CNC machine tools, respectively. The proportion of high-end CNC machine tools in the income of CNC machine tools has increased year by year, and it has been nearly 50% in 2019, and the proportion of high-end CNC machine tools in business income reaches 29.12%. High grade CNC machine tools have gradually become an important source of company income and profit growth.
The company's equipment components mainly include customized machine tool body, precision sheet welding parts, castings, etc. The company has been committed to the development of high-performance castings and high-quality precision sheet metal weldments for a long time. While meeting the needs of its own development and production of medium and high-end CNC machine tools, the company has supplied precision sheet welding parts or castings for the world's leading intelligent manufacturing equipment enterprises, such as Canada's husky, Japan's Toshiba machinery, demagisen precision machine, Germany's BMW, Sweden's Sandvik, America's caterpillar, etc.
After long-term research and development, the company has gradually achieved technical achievements in five key technology fields of intelligent manufacturing equipment, such as error control, reliability, composite complete set processing, high-performance equipment components, secondary development and optimization. The overall technical level is in the advanced position in China, and continues to provide intelligent production equipment and services for outstanding manufacturing enterprises such as jerui Co., Ltd., Hangke Technology Co., Ltd., and Yisen mould Co., Ltd Business. The company has developed into one of the few emerging intelligent equipment manufacturers that have successfully developed five axis CNC machine tools and other high-end CNC machine tools and achieved mass production. Five axis CNC machine tool is the most effective intelligent manufacturing equipment to solve the complex curved surface and many special materials processing. It is known as the "shining pearl on the crown" of the machine tool industry. As the most advanced CNC machine tool that can be mass produced and industrialized in the world, it has long been listed as strategic materials for control by developed countries. The company's five axis CNC machine tool gmf4027ac (AX) five axis linkage gantry machining center can realize one-time forming and high-precision machining of complex space curved surface of precision mold. It has the advantages of high machining accuracy, good continuous stability and high processing efficiency. It has a wide range of application prospects and significant positive influence in the fields of aerospace, military industry, high-precision medical equipment, etc.
At present, China is the largest machine tool manufacturer and seller in the world, and the market share of medium and high-end products will be further increased in the future. According to the analysis on the competitive pattern and development prospect of China's CNC machine tool industry in 2019, the localization rate of China's high-end CNC machine tools in 2018 is only 6%, and the high-end CNC machine tools mainly rely on imports. In the future, Guosheng Zhike and other domestic medium and high-end machine tool manufacturers, on the one hand, will benefit from the increase in the proportion of medium and high-end machine tools, and at the same time, it will also provide great opportunities for the import substitution of foreign products.
Translated by Robots
