Yesterday (November 24), Wuxi Yoshioka Precision Technology Co., Ltd. (“Yoshioka Precision”), a precision parts die casting company, was officially listed on the Beijing Stock Exchange (stock code: 836720). Yoshioka Precision will become the 11th new stock after the opening of the Beijing Stock Exchange, and the number of listed companies on the Beijing Stock Exchange will increase to 82.
It is understood that Yoshioka Precision was established in 2002, started the NEEQ listing in June 2015, and officially listed on the NEEQ on April 11, 2016. In May 2020, it was transferred from the basic layer to the innovation layer. On August 7 of the same year, it was reported to the selected layer of Jiangsu Securities Regulatory Bureau for guidance and filing. On June 15, 2021, the application for the selected layer was submitted to the national stock transfer system and was accepted.
Yoshioka Precision focuses on the R&D, production and sales of aluminum alloy and zinc alloy precision parts. The products cover electronic and electrical parts, auto parts and other parts, mainly used in cleaning appliances, power tools, communication equipment, and body structures. , On-board host system, power system and braking system, etc.
Through the technological transformation of equipment, the company increased investment in automated assembly lines, purchased automated robots for the deburring process, and further improved the automated assembly lines for machine tool processing and the transformation of die-casting processes. After the transformation, the province efficiency has been greatly improved, the manufacturing cost has been reduced, and the optimization of the product structure has greatly improved the profitability of the enterprise and increased the profit contribution.
In the first half of this year, Yoshioka Precision’s operating income was 170 million yuan, an increase of 64.47% year-on-year, and its net profit was 28.729 million yuan, an increase of 86.21% year-on-year. Among them, Yoshioka’s precision electronic and electrical parts business revenue was 94.867 million yuan, accounting for 56.12% of the main business income; the auto parts business revenue was 58.860 million yuan, accounting for 34.82% of the main business income; other parts business The proportion of revenue has been shrinking year by year, from 21.98% in 2018 to 9.05% in the first half of 2021.
Yoshioka Precision publicly issued 21.03 million shares this time and plans to raise 221 million yuan of funds, mainly for the construction of the “intelligent transformation project for the production line with an annual output of 29 million precision mechanical parts”. The implementation of the fundraising project will increase the company’s production capacity, further improve the company’s product structure, provide downstream customers with better products and better services, and enhance profitability.
“Except for the financial crisis in 2008, the rest of the year was in a profitable state, and I have never worried about orders.” In the first half of this year, Yoshioka Precision’s profit exceeded 28 million yuan, and the profit growth rate reached an astonishing 86%. Ranked in the first camp of listed companies on the Beijing Stock Exchange. What is the secret of Yoshioka Precision’s growth? Two words: focus. “We must find a suitable position in the subdivisions of the broad market, and then persevere.” In 2002, Zhou Yan, a buyer of a foreign company, took a fancy to the business opportunities of aluminum alloy die-casting products. Open up the situation and become a stable supplier for many leading enterprises in the electronic and electrical industry. Zhou Yan, who was born in a Japanese company, has the essence of lean manufacturing. As long as the company has some surplus funds, he will use it to update equipment and improve efficiency. This small and medium-sized private enterprise covering an area of only 13.6 acres was certified as Wuxi Smart Workshop in May of this year. More than 40 robots operate efficiently in its intelligent workshop for constant temperature processing of precision parts, and have achieved die-casting blanks, lathing processing, spraying, etc. The intelligent production of most processes is at the forefront of the industry. The products also cover auto parts, electronic and electrical parts and other fields, mainly used for cleaning electrical appliances, power tools, communication equipment, power systems and systems. Dynamic system, etc.
Compared with long-term investment, continuous research and development is another footnote to focus. Currently, Yoshioka Precision has 101 patents, of which 2 are invention patents. “The R&D team is an’iron-struck business’, and the scientific researchers have followed the company for at least 10 years.” Zhou Yan introduced that a stable R&D team brings smooth iterations of technical products, and new products are developed to seize the market in the first time according to changes in customer products. . It is worth mentioning that the steam heater invented by Yoshioka Precision has been widely used in cleaning small household appliances such as steam mops, and has the power to negotiate prices with leading foreign companies, which has driven the company’s steam heater sales to achieve substantial growth. Market opportunities in the field. It is reported that the technical strength accumulated over the years has attracted international giants to throw an olive branch. The motor structure products jointly developed by Yoshioka Precision and its customers have passed the testing stage and will be used in many new Tesla models next year; motor rotor products have been implemented Mass production, which will be applied to LG’s motor products; enter the supply chain system of the Ningde era, a well-known power battery system provider…
It is reported that Yoshioka Precision has continuously improved its competitiveness through years of deep cultivation in the field of precision parts and has successfully entered the supply chain system of many well-known brand manufacturers. Its main customers include Makita, Cobos, Canon, AO Smith, and Bosch. , Cummins, BorgWarner, Bridgestone, etc.
The motor 1-1-75 structural parts jointly developed by the company and its customers have passed the testing stage and will be applied to Tesla Model 3 and Model Y models. The motor rotor products developed by the company have been mass-produced and will be applied to LG’s motor products. In addition, the company entered the Ningde era supply chain system last year.
Good news came from Wuxi enterprises on the 10th day after the opening of the Beijing Stock Exchange! Yesterday morning, Yoshioka Precision, located in Xishan Economic and Technological Development Zone, rang the listing bell and became the first Wuxi company to land on the Beijing Stock Exchange. It is understood that this company, established in 2002, has been deeply involved in the subdivision of aluminum alloy small die-casting parts for a long period of time. It has made thorough technology and maintained a compound growth rate of operating income of more than 30% in the past 10 years. When asked why he chose the Beijing Stock Exchange, Zhou Yan, the company’s chairman, replied firmly, “It is to have confidence in the Beijing Stock Exchange, and it is suitable for small and medium private enterprises like us to use capital to grow themselves.”