China'S Sewing Machine Electrical Leading Enterprise Beijing Science And Technology Revenue Fell 9.48%

China's sewing machine electrical leading enterprise, Beijing's Polytron Technologies Inc, issued the 2019 annual report in March 9th. During the reporting period, the company achieved operating income of 973 million yuan, a decrease of 9.48% over the same period last year, and realized a total profit of 297 million yuan, a decrease of about 30.23% over the same period last year, and a net profit of 255 million yuan attributable to shareholders of listed companies. A decrease of 31.12% over the same period last year; the company's basic earnings per share were 0.28 yuan.


For the reasons for the change in the company's performance during the reporting period,


According to the 1-10 month data of industry associations, sales of computerized embroidery machines decreased by 22.31% compared with that of the previous year, and the income of embroidery machines decreased by 59 million, down 9.75% from the same period last year. In 2019 1-10, the total number of sewing machines produced by the association's statistics totaled 5 million 114 thousand and 200 units, down 17.37% from the same period last year, and the total industrial output value reached 14 billion 548 million yuan, down 16.13% from the same period last year. Among them, the special industrial sewing equipment that first closed with the big sewing machine business decreased 8.54% compared with the same period last year. The sales volume of the special sewing machine product report period increased by 4% over the same period last year, mainly due to the low unit price and low gross profit. The growth of low economic products increased year by year, while other models decreased year by year, and revenue dropped by about 29 million compared with the same period last year.


In 2019, the profit pressure of textile industry increased significantly, and most of the links in the industrial chain continued to bear pressure. In the whole year, 35 thousand Textile Enterprises above Designated Size realized operating income of 4 trillion and 943 billion 640 million yuan, down 1.5% from the same period last year, the growth rate was less than 4.4 percentage points in 2018, and realized a total profit of 225 billion 140 million yuan, a decrease of 11.6% over the same period last year. The income of needle spinning and electronic control products of Da Hao company decreased by 6.97% compared with the same period last year.


During the reporting period, the period cost increased by about 21 million over the same period, and the increase in personnel costs was about 14 million 600 thousand due to personnel wage adjustment and social security base growth and equity incentive.


The main business of Da Hao technology is the development, production and sale of all kinds of intelligent equipment with completely independent intellectual property rights computer control system. The computer control system is an intelligent equipment industrial control computer and device. It integrates servo drive, multi axis linkage and other automation core technologies. It is the "nerve center" and "brain system" of the whole machine products of electrical control intelligent mechanical equipment. At present, the company's products are mainly matched with sewing and needle spinning machinery and equipment, and it is the core component of sewing and needle spinning machinery.


According to public information, Da Hao technology is the leading enterprise in the field of sewing and knitting equipment in the field of electrical control. It occupies a leading market competition position in the industry. The leading product embroidery electrical control system has a domestic market share of over 80% in 2019, and the domestic market share of hosiery machine control system is about 85%. The electric control system of special industrial sewing machine has a 50% share in the domestic market.


Da Hao technology develops an open cooperation with downstream sewing machines and knitting machine manufacturers. It has established a long-term and stable cooperative relationship with customers with stable, excellent product performance and timely customer satisfaction. Zhejiang Yue long, Zhuji Maya, Zhejiang Xinsheng, Zhejiang De Yuan, Zhuji Leye, Hangzhou Jingwei, Dongguan treasure wheel, Le Jia electrical and mechanical, Jack shares, ZOJE shares, Zhejiang MAQI, Zhejiang Bai Xiang, Zhejiang Wei Huan and other domestic and international sewing and knitting machinery and equipment industry's large and medium-sized enterprises are important customers of the company.


The control system of hosiery machine, flat knitting machine and glove machine is the core component of knitting machinery. Knitting machinery belongs to a branch of textile machinery and equipment. Textile machinery mainly includes chemical fiber machinery, spinning machinery, knitting machinery, weaving machinery, nonwoven machinery, dyeing and finishing machinery and accessories. Among them, knitting machinery mainly includes knitting flat knitting machine, knitting hosiery machine, warp knitting machine and circular knitting machine. The knitting flat knitting machine is mainly used to produce knitted products such as sweaters, knitted upper and so on. Knitted hosiery machines are mainly used for producing cotton socks and stockings; warp knitting machines are mainly used for warp knitted fabrics, and the final products include curtain, swimsuit and so on. The circular knitting machine is mainly used for producing weft knitted fabrics, and the final products include T-shirts, underwear and so on.


In 2019, there were nearly 60 thousand sets of control systems for the knitting machinery control system of Tai Hao, among which the market share of hosiery machine control system was about 85%. In 2020, Da Hao technology will further increase the core competitiveness of the company's new business in related fields, the capital acquisition and R & D investment of new products, realize the diversified development strategy and planning of the company, continue to expand the size of the company and strengthen the strength of the company. Under the overall policy of consolidating the foundation, practicing hard work and moving forward steadily, the grand ho technology plan achieved a total revenue of 1 billion 219 million yuan in 2020.


Guotai Junan Securities analyst Li Muhua said earlier that in the domestic sewing machinery industry pressure, sewing equipment electrical control system market shrinkage, export processing demand declined in 2019, labor costs increased, the advantage of special industrial sewing machine efficiency has been highlighted, and the increase in procurement volume of various manufacturers led to the special industrial sewing machine still increased by 4.37%. At the same time, with the promotion of new technologies such as Internet of things and production management application technology, advanced management methods and technologies have attracted the attention of the industry, and the market demand for special industrial sewing machines has been expanded.


At present, the market share of the special industrial sewing machine of Da Hao science and technology is 50%. However, with the continuous improvement of the competitiveness of the company's special industrial sewing machines, the new models of the all-in-one machines such as pattern machines, formwork machines, knot stitching machines and keyhole machines are constantly being introduced. The market share of the big technology special industrial sewing machine is expected to increase substantially.


Li Muhua judged that with the acquisition of the hosiery machine leader, Ming Tak, the proportion of the electronic control equipment of Tai Hao embroidery machine decreased from 75.61% in 2017 to 55.81% in 2018. The sales volume and production volume of the hosiery machine electronic control system increased by 106.72% and 159.85% respectively, and the proportion of the electrical control system income of knitting equipment to total revenue increased from 6.54% to 17.83%. The electrical control system of sewing equipment is mainly composed of embroidery electrical control system and special industrial sewing machine electronic control system. The electrical control system of knitting equipment is mainly composed of hosiery machine electronic control system. The balance of product structure will reduce the pressure of the sewing machine electrical control system due to insufficient domestic demand, and the future business revenue and profit will be more stable.