On March 29,Tanaka Precision Machinery(Stock code: 300461) published the 2023 Annual Report.The report shows that the company will achieve a total ofrevenue260 million yuan, up 36.43% year on year;The net profit attributable to shareholders of the listed company was 9.8758 million yuan, up 115.56% year on year;Basic earnings per share is 0.07 yuan/share.
Tanaka Precision MachineryThe company is the leader of comprehensive solutions for intelligent manufacturing customization in China and a national high-tech enterprise.The company's predecessor was JapanTanaka Precision MachineryLtd., founded in 1933.The company is in the leading position in the field of precision winding, and its comprehensive technical indicators are at the international advanced level.After years of innovation and accumulation, the company can provide comprehensive solutions for intelligent manufacturing from single intelligent equipment to personalized customization development. The downstream application fields are wide, mainly including consumer electronics industry, automobile industry, industrial control industry and other fields.The company's main products can be divided into standard machines, non-standard machines, special machines, coating machines, etc.The standard machine is a standardized winding machine, which mainly realizes the basic winding function and is used to produce standardized electronic coils.
according toTanaka Precision MachineryAccording to the report data, from 2019 to 2023,Tanaka Precision MachineryThe operating revenue was 503 million yuan, 364 million yuan, 344 million yuan, 191 million yuan and 260 million yuan respectively, with year-on-year growth of - 37.37%, - 27.69%, - 5.47%, - 44.61% and 36.43% from 2019 to 2023.
From 2019 to 2023, the net profit of Tanaka Precision Machinery Co., Ltd. will be -215823400 yuan, 104810700 yuan, 31905200 yuan, -63471800 yuan and 9875800 yuan respectively, and the year-on-year growth from 2019 to 2023 will be -143.08%, 148.56%, -69.56%, -298.94% and 115.56% respectively.
In 2023, the international environment will become more complex and severe, the global economic growth will slow down, and the market demand will be relatively weak.Against this background, the company realized a turnaround in its performance from loss to profit, and its operating revenue increased significantly compared with the same period last year, mainly due to the continuous business development. The net profit attributable to the parent company turned from loss to profit, mainly due to the growth of revenue scale, and the growth of gross profit rate driven by lean management of the company.
By product: in 2023, the operating revenue of Tanaka Precision Standard Machine will be 9.4214 million yuan,revenueAccounting for 3.62%;The operating income of non-standard machines was 181.6698 million yuan,revenueAccounting for 69.89%;The operating income of special machines was 14.3957 million yuan,revenueAccounting for 5.54%;The operating revenue of coating machine is 5.1876 million yuan, accounting for 18.95% of the total revenue;Other operating income was 49.2725 million yuan, accounting for 18.95%.
During the reporting period, the overall business operation of Tanaka Seiki in different regions is shown in the figure above.In 2023, the domestic business income of Tanaka Precision Machinery will be 250.9609 million yuan, accounting for 96.54%;Overseas operating income was 8.9861 million yuan, accounting for 3.46%.
Top five customers and suppliers
The sales volume of the top five customers and the proportion of the purchase volume of the top five suppliers of Tanaka Precision Machinery in 2023 are shown in the figure below:
In 2023, the sales of the top five customers of Tanaka Precision Machinery will total 77.9256 million yuan, accounting for 29.98% of the total annual sales.Among them, the sales of the largest customer 1 was 17.7135 million yuan, accounting for 6.82% of the total annual sales.
In 2023, the procurement of the top five suppliers of Tanaka Precision Machinery will total 264.153 billion yuan, accounting for 17.81% of the annual total procurement.Among them, the purchase amount of the largest supplier 1 was 6.6494 million yuan, accounting for 4.32% of the annual total purchase amount.
R&D investment over the years
According to the report data of Tanaka Precision Machinery, from 2019 to 2023, the investment in research and development of Tanaka Precision Machinery will be 34.0641 million yuan, 14.1447 million yuan, 14.1574 million yuan, 18.7494 million yuan and 28.7685 million yuan respectively, and the year-on-year growth from 2019 to 2023 will be - 29.41%, - 58.48%, 0.09%, 32.44% and 53.44% respectively.
During the reporting period, Tanaka Precision Machinery Co., Ltd. continued to maintain a high R&D investment, with a total R&D investment of 28.7685 million yuan throughout the year, up 53.44% year on year, accounting for 11.07% of the annual operating revenue.A number of products and technologies of the company have achieved breakthroughs or iterations. For example, in the field of consumer electronics, the company has continued to invest in research and development of rich product lines. In the face of the increase in the maximum power standard of wireless charging from 50W to 80W, the company has targeted the development of square coil production winding equipment to improve the efficiency of wireless charging, and gradually entered the mass production stage of related winding machines.In the automotive field, the company develops and produces ABS solenoid valve production lines in accordance with the mainstream trend of the market, with a stable production yield of more than 99.5%.In addition, the company developed and delivered AGS motor assembly production line, and the company has made new progress in the field of air intake grille motor.At the same time, during the reporting period, the company added new research and development projects such as automatic smart car antenna assembly line, four station double shaft winding machine, the new generation of intelligent winding embedded system (G5), and automatic horizontal hollow cup coil winding machine.
Total market value
On May 19, 2015, Zhejiang Tanaka Precision Machinery Co., Ltd. was listed on the GEM of Shenzhen Stock Exchange.
From the market value of Tanaka Seiki in recent years, on December 27, 2023, the market value of Tanaka Seiki reached the highest of 4.221 billion yuan;The minimum value will be 1.646 billion yuan on April 26, 2022.As of April 3, 2024, the total market value of Tanaka Seiki is 2.694 billion yuan.
Profitability analysis
The gross profit rate of sales of Tanaka Seiki from 2019 to 2023 is shown in the figure below.During this period, the gross profit rate of the company was the highest in 2019, 41.08%, and the lowest in 2022, 20.89%.
Operation capability analysis
In the past five years, the inventory turnover rate of Tanaka fine machinery is shown in the figure below. In 2023, the inventory turnover rate of Tanaka fine machinery will be 1.02 times, a year-on-year decrease of 14.28%.
Solvency analysis
The asset liability ratio of Tanaka Seiki from 2019 to 2023 is shown in the figure below. In 2023, the asset liability ratio of Tanaka Seiki will be 27.56%.
The core competitiveness of Tanaka Precision Machinery
1. Industry brand advantages
After years of innovation and accumulation, the company can provide comprehensive solutions for intelligent manufacturing from single intelligent equipment to personalized customization development. Its downstream applications are extensive, mainly including consumer electronics industry, automobile industry, industrial control industry and other fields.With strong technical strength, advanced production technology, excellent product quality, high-quality integrated service and continuous innovation ability, the company has accumulated a high brand reputation in the field of intelligent manufacturing equipment, and has outstanding industry brand advantages.
2. Technological R&D and innovation advantages
The company has strong product innovation and R&D capabilities, and is a national high-tech enterprise. The company is in a leading position in the industry in the field of precision winding, and its comprehensive technical indicators are at the international advanced level.The company realizes efficient and high-precision winding through self-developed tension control, cable arrangement control and other technologies.At the same time, the company also has the ability of self research and self production for high-precision parts processing.With advanced CNC machine tools, precision wire cutting machines, precision grinding machines and other equipment at home and abroad, as well as an experienced and skilled technical team, the company can complete the processing of various high-precision parts and components, including shafts, jigs and molds, plates and complex shaped parts.By the end of the reporting period, the company had obtained 378 authorized patents, 10 software copyrights and 3 group standards.Among them, there are 57 invention patents, 318 utility model patents and 3 appearance patents.
3. Advantages of management team
The company actively promotes the talent development strategy of "people first", promotes advanced lean management concepts, and maintains exchange and learning with Japanese teams. The company has cultivated an efficient technical research and development team, business team, and management team, and there has been no significant change in relevant core technical personnel during the reporting period.The main management personnel of the company have rich management experience and industry experience, and can quickly grasp the industry development trend, formulate corresponding business strategies, and improve the overall business ability of the company.On the one hand, the company adopts internal training to improve the skill level of employees;On the other hand, we should make full use of various channels to attract high-end talents and constantly expand and cultivate the backbone team.
4. High quality and stable customer resources
The company adheres to the business philosophy of "achieving customers and realizing self" and has always implemented it in its business activities. Through years of operation, the company has had a long-term stable high-quality customer base and has served more than 1000 customers accumulatively.The company has been deeply involved in the industry for many years, and has established long-term and stable cooperative relations with many well-known enterprises in the fields of consumer electronics, automobile, industrial control, etc.A good customer structure is conducive to ensuring the stability of the company's overall profitability, and also lays a solid foundation for the company's future sustainable development.
5. Whole line automation solution
The company can provide customers with comprehensive solutions from single intelligent equipment to customized intelligent manufacturing, meet customers' one-stop purchase needs, and provide a series of supporting services such as installation, commissioning and after-sales after delivery, through independent research, design and innovation of R&D personnel according to downstream customers' needs such as diversification, personalization and non-standard.Therefore, the company has the ability to integrate design, R&D, manufacturing and service into the whole line automation solutions.
Summary of charging head network
During the reporting period, the management of Tanaka Precision Machinery Co., Ltd. firmly implemented the strategic plan formulated by the company, fully organized production and operation, and achieved important results: tamping three major application fields and improving the ability of comprehensive solutions;Continue to increase R&D investment and make breakthroughs or iterations in product technology;Invest in emerging industries, actively create the second growth curve, create more value for the company, promote the expansion of the industrial value chain, further improve the company's business layout, promote the company's business operation and capital operation to achieve positive complementarity, and enhance the company's comprehensive competitiveness.In the future, as the national policy support for the intelligent manufacturing industry continues to increase, the demand of the company's downstream application fields, mainly including the consumer electronics industry, the automobile industry, and the industrial control industry, will continue to grow, which will help the company's long-term development.
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