NEWS

Yatong Precision Mechanical builds an internationally competitive system integrator and modular supplier

Release time:

Feb 17,2023

Source:

On February 17th, Yatong Precision Mechanical was listed on the main board of the Shanghai Stock Exchange.The company issued 30 million shares this time, and the funds raised were mainly invested in the Penglai production base construction project, the commercial vehicle parts production base renovation and construction project, the Penglai R&D center construction project and supplementary working capital.

According to the prospectus, Yatong Precision Mechanical is mainly engaged in the research and development, production, sales and service of auto parts and mining auxiliary transportation equipment, and has fully formed the trend of collaborative development of the three major sectors of commercial vehicle parts, passenger car parts and mining auxiliary transportation machinery.

In the field of commercial vehicles, many OEMs such as Sinotruk, China FAW, and Beiqi Foton, which are at the forefront, are their customers, of which Sinotruk's market share has been among the best for a long time.In the field of passenger cars, the company has also successively obtained the first-class supplier qualification of SAIC General Motors, which has long occupied the top three in the industry, and the first-class supplier qualification of SAIC Group.Not only that, Yatong Precision Mechanical began to enter the field of new energy vehicles in 2020, and has now started bulk supply to Ideal Motors.In the field of mining auxiliary transportation equipment, Yatong Precision Mechanical has also established cooperative relations with large coal mine customers such as National Energy Group, Jinneng Holdings, and Shaanxi Coal Group.

It is worth noting that once automobile oems and large coal mining companies establish cooperative relations with their suppliers, they are usually more stable, which also provides sufficient guarantee for the continuous and steady development of Yatong Seiko.

Deeply engaged in the industry for more than ten years, Yatong Seiko has accumulated strong strength in product research and development.Up to now, Yatong Seiko has as many as 177 independent research and development patents.Among them, the explosion-proof diesel 1-1-102 concrete mixing truck and explosion-proof diesel wet concrete jet truck independently developed by the company for underground use in coal mines have reached the international advanced technical level, which not only effectively reduces the labor intensity of underground personnel, but also improves the efficiency of underground work. It was also identified by the China Coal Machinery Industry Association as the first in China, filling the gap in domestic equipment in this field and successfully achieving a breakthrough in the localization of key equipment.

In terms of performance, the company achieved operating income of 1.007 billion yuan, 1.315 billion yuan and 1.494 billion yuan in 2019, 2020 and 2021, respectively, and the net profit attributable to the owner of the parent company was 105 million yuan, 192 million yuan and 162 million yuan, showing a steady and upward trend overall.

Yatong Precision Mechanical said that in the future, it will continue to deepen its two core business sectors of auto parts and mining auxiliary transportation equipment, focusing on the needs of core customers, and continuously improve its R&D strength and cost control capabilities, achieve leading technology and cost leadership, improve the company's market position and profitability, and build Yatong Seiko into an internationally competitive system integrator and modular supplier facing the global procurement supply chain.