Guangdong Dongfang Precision Science & Technology Co., Ltd.
东方精工
002611
Shenzhen Stock Exchange
Company Profile
With “intelligent equipment manufacturing” as its primary strategic focus, Dongfang Precision concentrates on the manufacturing of high-end intelligent equipment. Its principal operations include “intelligent packaging equipment” and “water powersports equipment”. The intelligent packaging equipment division: The company leads the world in terms of its comprehensive strength in smart corrugated packaging equipment business and can provide downstream customers such as cardboard plants and box plants with “one-stop” machinery and service support that covers each production process, including corrugated cardboard production, corrugated box production, and pre-printing and post-printing production processes, and different technology roadmaps, including flexographic printing and digital printing. The value of the global corrugated packaging equipment market is estimated to be about RMB30-40 billion. In terms of operating revenue, Dongfang Precision accounts for approximately 15% of the global corrugated packaging equipment market, ranking first among domestic enterprises of the same type and second in the global market. The water powersports equipment division: The subsidiary, Parsun Power, is a leading enterprise in the domestic outboard motor industry. According to the certificate issued by the China Internal Combustion Engine Industry Association, Parsun Power’s outboard motors ranked first in the industry for three consecutive years from 2020 to 2022. Parsun Power’s main products are outboard motors of various specifications and different series. The outboard motor products are exported to hundreds of countries and regions, including Europe, Africa, Oceania, South America, North America, the Middle East, and Southeast Asia. The analysis of the Company’s core competitiveness in the Reporting Period is as follows: (I) Industry-leading technology and strong capabilities of R&D and innovation The Company is at the forefront industry-wide in China in terms of R&D and technology (II) Complete layout in the corrugated packaging machinery industry chain and the most complete and richest product portfolio in the industry Among enterprises of the same type in the domestic corrugated packaging machinery industry, Dongfang Precision has the most complete and comprehensive industry chain layout, with its business covering almost all key processes in the corrugated packaging production and processing business chain. Meanwhile, the Company has the most complete and richest corrugated packaging production line equipment in the industry, making it capable of meeting the demands for complete production line and single machine products of different market positioning, different customer types and dozens of specifications and models, second to none in China. (III) Profound Know-How experience and experienced team in the industry Dongfang Precision has an experienced team with profound Know-How experience in the industry, which has 20 years of experience in both global and domestic industry markets and has an in-depth understanding of the Company's industrial layout, development planning, R&D approach, production operation, marketing, and team management. The core management team has a broad vision, can promptly keep up with the general development trend of the smart corrugated packaging equipment manufacturing industry, and can enable the Company to achieve steady and sustainable development through forward-looking strategic planning and layout. (IV) High brand popularity and customer recognition worldwide Dongfang Precision-branded corrugated box printing and packaging production line equipment, Fosber-branded corrugated cardboard production lines, Wonder Digital-branded digital printers, Quantum-branded corrugated cardboard production lines, Tiruña-branded corrugated rollers and Parsun-branded outboard motors of the Company are enjoying considerable brand recognition and industry influence at home and abroad. (V) Global layout of business assets The Company mainly serves customers in the corrugated packaging industry worldwide, and has realized the global layout of its business assets.An internationalized marketing and service network enables the Company to seize all opportunities in the global industry market and to provide product machinery and technical services for customers in the industry in over 100 countries and regions worldwide. An internationalized product R&D, production and supply chain layout enables the Company to make prompt responses worldwide and meet customer demands and is conducive to the Company's integration of global resources, improvement of resource allocation efficiency, complement of advantages, reduction of the total cost and improvement of the allocation efficiency, so that the Company can be increasingly competitive in the world when it is operated as a group. (VI) Strong capabilities of strategic control and integration Since listing, the Company has kept expanding its presence in the upstream and downstream of the industry chain of its core business. After years of practice, the Company has developed strong strategic control and deep integration of its business divisions and accumulated rich experience and practice, through the deep perception of the industry, forecast of industry trends, and a clear understanding of its own strategic development objectives.
Full description
With “intelligent equipment manufacturing” as its primary strategic focus, Dongfang Precision concentrates on the manufacturing of high-end intelligent equipment. Its principal operations include “intelligent packaging equipment” and “water powersports equipment”. The “intelligent packaging equipment business” consists of smart corrugated packaging equipment, digital printers, and industrial Internet industry solutions. Since its IPO on the Shenzhen Stock Exchange in 2011, Dongfang Precision has grown into a global leader in smart corrugated packaging equipment, a leading domestic provider of digital printers, and a top-ranking domestic supplier of water powersports equipment.The Company is developing its industrial Internet industry solutions business to achieve an upgrading of a digital intelligent high quality development as an intelligent equipment manufacturer . With “intelligent equipment manufacturing” as its primary strategic focus, Dongfang Precision concentrates on the manufacturing of high-end intelligent equipment. Its principal operations include “intelligent packaging equipment” and “water powersports equipment” 1. The intelligent packaging equipment division The intelligent packaging equipment division consists of smart corrugated packaging equipment, digital printers, and industrial Internet industry solutions, which cover the most important links in the value chain of corrugated packaging production. 1.1 Smart corrugated packaging equipment Corrugated cardboard production lines: Major manufacturers of corrugated cardboard production lines around the world include Fosber Group, BHS (Germany), Marquip (a wholly-owned subsidiary of the American Barry-Wehmiller), and J.S. Machine. Among them, Fosber Group and its major rival from Germany, BHS, lead the others and are leaders in the global middle- and high-end corrugated cardboard production line field. Fosber Group holds approximately 30% of the global middle- and high-end corrugated cardboard production line market and more than 50% of the North American market. Corrugated & pressure rollers, key components of corrugated cardboard production lines: The subsidiary Tiruña Group has more than 40 years of experience in the corrugated and pressure roller segment and is renowned in Europe as a world-leading specialist in this segment. Corrugated box printing and packaging production line equipment: Dongfang Precision is an industry leader in China and is competitive with the global industry leader, Bobst, from Switzerland, and has the completest product lines and richest product base of the corrugated box printing and packaging production line equipment worldwide. 1.2 Digital printers Wonder Digital, a majority-owned subsidiary of Dongfang Precision, has been specializing in the development and manufacturing of digital printers for more than 10 years, and is a leader in the domestic digital printer industry. Wonder Digital provides solutions for customers in the digital printing industry, including digital printers, ink, accessories, and professional services. With a comprehensive product matrix, Wonder Digital provides paper packaging digital printers that meet the diverse needs of industry customers with different market positions and levels.Wonder Digital’s digital printers have been exported to countries and regions such as Europe, America, the Middle East, Latin America, and Southeast Asia, with over 1,600 units of equipment installed worldwide. 1.3 Industrial Internet industry solutions Dongfang Digicom, a subsidiary of Dongfang Precision, serves as the primary business entity for “industrial Internet industry solutions”. Based on the extensive industry experience of Dongfang Precision spanning over three decades in the field of corrugated packaging equipment, as well as guided by the Group’s strategies, the subsidiary Dongfang Digicom, leveraging cutting-edge technologies such as the Internet of Things (IoT), cloud computing, big data, 5G, and artificial intelligence (AI), has developed iDataPioneer, an industrial Internet platform for the packaging industry in a broad sense. The industrial Internet platform iDataPioneer delivers a comprehensive one-stop service, spanning from equipment connectivity for data collection to data integration, processing, analysis, and intelligent applications. It sets benchmarks in several metrics within the industry, empowering large packaging enterprises to adopt data-driven scientific management and decision-making, thereby facilitating their digital transformation. 2. The water powersports equipment division The subsidiary, Parsun Power, is a leading enterprise in the domestic outboard motor industry. According to the certificate issued by the China Internal Combustion Engine Industry Association, Parsun Power’s outboard motors ranked first in the industry for three consecutive years from 2020 to 2022. Parsun Power’s main products are outboard motors of various specifications and different series, with horsepower ranging from 2 to 130. The outboard motor products are exported to hundreds of countries and regions, including Europe, Africa, Oceania, South America, North America, the Middle East, and Southeast Asia. Parsun Power's outboard motor products have stable quality and reliable performance, and some of them enjoy the comprehensive performance comparable to that of internationally well-known brands and emissions reaching European and American standards. In the future, Parsun Power will focus on medium- and high-horsepower outboard motors, enrich electric outboard motor production lines, continuously optimize the product structure of outboard motors, and consolidate its leading position among domestic outboard motor manufacturers. Aside from outboard motors, Parsun Power also engages in the business of general machines. Parsun Power's general machine products mainly include gasoline engines, gasoline generator sets and gasoline water pump sets. Gasoline engines, primarily single-cylinder four-stroke units, utilize gasoline as fuel and are adaptable for use in agricultural machinery, gardening equipment, and other small machinery applications. Gasoline generator sets combine these engines with generators, functioning as standby power sources. The gasoline water pump sets feature centrifugal pumps driven by gasoline engines and are extensively utilized in agricultural irrigation, livestock watering, and similar domains.