The hottest northerner of Jiangsu landed on the sc

2022-10-15
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Jiangsu beiren landed on the science and technology innovation board to embrace the 10-year high-speed development period of robots

if you walk into an automobile manufacturer and visit various workshops, you will find that industrial robots have become the main productivity. Countless welding robots have formed highly automated collaborative production lines. Under a fixed production rhythm, they hit the car body, emitting dazzling sparks, like entering the world of science fiction

with the rapid development of the science and technology innovation board, as of December 12, more than 70 enterprises have registered successfully. Recently, Jiangsu beiren Robot System Co., Ltd. (hereinafter referred to as Jiangsu beiren, stock code) headquartered in Suzhou also began its journey of listing on the science and innovation board

on December 11, Jiangsu beiren was successfully listed on the science and Innovation Board of Shanghai Stock Exchange. The issue price was 17.36 yuan per share, up 130.41% at the opening. As of the closing, the increase fell back to 84.74%, the share price was 32.07 yuan/share, and the market value reached 3.75 billion yuan

Jiangsu beiren is an industrial robot system integrator, which is mainly used in the downstream welding field of automobiles. In December, 2011, the company was jointly funded and established by Zhu Zhenyou, Lin Tao and Suzhou beiren. At present, Zhu Zhenyou, chairman of the board, holds 30.4% of the shares and is the actual controller of the company

last year, the revenue reached 413 million yuan

as we all know, the industrial robot industry is divided into upstream, midstream, downstream and industrial applications according to the industrial chain. The upstream is the production of core parts; The midstream is the production of industrial robot body; Downstream is industrial robot system integration; Industrial application is mainly the application of industrial robots in the terminal industry

among them, the downstream robot system integration is the key to the engineering and large-scale application of industrial robots, especially in the field of system integration such as welding, assembly, riveting and detection. It has high requirements for technical strength and R & D and innovation ability, and the number of Enterprises above designated size is relatively small

and intelligent welding is the diamond of Jiangsu beiren

the company's main business is to provide integrated solutions for industrial robot automation and intelligent system integration, mainly involving the R & D, design, production, assembly and sales of flexible automation and intelligent workstations and production lines. Its products include industrial robot system integration for welding, industrial robot system integration for welding that cannot vary with the amount of additives, and tooling fixtures

financial data show that from 2016 to 2018 and the first half of 2019 (hereinafter referred to as the reporting period), the company's operating revenue was 183 million yuan, 251 million yuan and 413 million yuan respectively. Therefore, the maximum load was considered as breaking load and 226 million yuan, maintaining high-speed growth, and the compound annual growth rate of revenue was as high as 50.26%. In the same period, the net profit attributable to the parent company was 24.29 million yuan, 34.05 million yuan, 48.36 million yuan and 2 respectively. At this time, the oil delivery valve should be cleaned or the pressure stabilizing spring with suitable stiffness should be replaced by 9.3 million yuan, with an average annual compound growth rate of 41.18%

from the business level, the company's leading product is the integration of industrial robot systems for welding, which are widely used in automotive, aerospace, heavy industry and other fields. During the reporting period, such products accounted for 92.25%, 86.48%, 88.09% and 87.86% of the main business income respectively, and were the most important source of income for the company

in terms of gross profit margin, during the reporting period, the gross profit margin of the company's main business was 26.15%, 25.73%, 24.9% and 25.2% respectively. The gross profit margin is generally stable at about 25%

the automotive industry contributes 97.71% of revenue

YEMA finance and economics notes that from the downstream of product application, the company's revenue mainly comes from the automotive industry, accounting for 97.71%, followed by aerospace, accounting for 1.27%, and heavy industry, accounting for 0.63%

the company's customers in the automotive industry mainly include large enterprises such as secoli, Shanghai Hangfa, Lianming Co., Ltd., Zhejiang Wanxiang, Baosteel Arcelor, FAW mold, Dongfeng (Wuhan) industry, and its products serve automotive manufacturers such as SAIC General Motors, FAW Volkswagen, FAW Hongqi, SAIC Volkswagen, Shanghai automobile, Chang'an Ford, Dongfeng Renault, Yutong Bus, Chang'an Mazda, Geely, BAIC, Tesla, etc

while expanding and strengthening the automotive industry, Jiangsu beiren has expanded its business in high-end equipment manufacturing fields such as aerospace, military industry, shipbuilding, heavy industry, and has also opened up a number of large customers, including Shanghai Aerospace, Shenyang aircraft, Shenyang Liming, caterpillar, Xi'an Kunlun and Zhenhua heavy industry

according to the analysis of China Merchants Securities, the company focuses its main resources on the automotive field, which is limited by production capacity, not technology. With the completion of fund-raising projects and the improvement of production capacity and capital, it may further expand aerospace, heavy industry and other fields

it is worth noting that due to its long-term commitment to the production and provision of flexible automatic welding production lines for automotive chassis parts, flexible automatic welding production lines for automotive body parts and other production lines, the company has now occupied a place in the domestic industrial robot system integration and intelligent equipment industry. The company focuses on the welding production line of auto parts, and there is less direct competition in the subdivision field

Jiangsu beiren believes that the company has core technology in the subdivision of robot welding in the automotive parts industry, has competitive advantages, and is in the forefront of the industry. So, how is the company's scientific and innovative success

R & D investment continues to increase

in recent years, the R & D expenses of Jiangsu beiren have increased year by year

during the reporting period, the company's R & D expenses were 8.74 million yuan, 10.83 million yuan, 12.67 million yuan and 9.2 million yuan, accounting for 4.78%, 4.32%, 3.07% and 4.06% of operating revenue respectively. From the proportion of R & D expenses in operating income during the reporting period, the company's R & D investment is at the average level of comparable companies in the same industry

picture source: prospectus

Hagong intelligence, a comparable company in the same industry ", Tianjin Fuzhen, Shanghai Guanzhi, demeke and xinyanlong, which were acquired by science and Technology University intelligence, huachangda and Sanfeng intelligence respectively, mainly provide complete vehicle welding production lines as their main products, and their R & D directions are different from those of companies whose main products are auto parts welding production lines. Therefore, the proportion of R & D expenses in operating revenue is different.

after years of efforts, as of the signing date of the intention to offer, the company has obtained It has obtained 7 high-tech product certifications in Jiangsu Province, 1 software product certification, 15 invention patents, 22 utility model patents, and 14 software copyright registrations

the core technologies of the company include flexible lean automatic production line design, integrated application of advanced manufacturing process, virtual design and Simulation of production line, industrial control and informatization, and intelligent production process

in addition, the proportion of R & D technicians in the company is not small. By the end of June this year, the company had more than 320 R & D technicians, accounting for more than 66% of the total number of the company. It is worth noting that the core technicians of Jiangsu beiren are Zhu Zhenyou, Lin Tao, Ma Hongbo and Li Dingkun, all of whom have a relatively deep industry background

it is understood that most of the company's core technical personnel worked in first-class enterprises and university research institutions in the automobile manufacturing or robot industry before they founded/joined the company, with a relatively deep industry background. Zhu Zhenyou and Li Dingkun both worked in the Automotive Industry Department of Shanghai abb, and Lin Tao was once the deputy director of the Welding Engineering Research Institute of Shanghai Jiaotong University

this time, the investment projects of the company's raised funds are mainly R & D, intelligent production line projects and supplementary working capital, with a total amount of 362million yuan

among them, the intelligent production line project is to build a new intelligent production line plant to expand the existing capacity of the company's flexible and intelligent production line; The project of the R & D center is mainly to build a new intelligent demonstration workshop, including the next generation of flexible production line for robot spot welding of automobile body and the next generation of intelligent production line for robot arc welding, so as to realize the integration of digital design and simulation system, workshop whole process information management system, intelligent storage and logistics management system, workshop remote operation and maintenance system and production line

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