Publish Time: 2022-11-24 Origin: Site
Busy workers, non-stop production line, a red and yellow concrete wet spraying machine and arch installation trucks drive out of Wuxin Tunneling's factory waiting for delivery. On the occasion of the first anniversary of the opening of the BSE, Yang Zhenkaki, the chairman of Wuxin Tunneling, accepted an exclusive interview with a reporter from China Securities Journal.
Yang Zhenkaki said that listing on the NSE gives the company opportunities in financing, talent, governance and brand. The company will continue to plough into the field of tunnel construction complete sets of intelligent equipment, in the field of excellence, for the development of China's real economy to lay a good brick belonging to the Wuxin Tunnel Equipment.
01 BSE brings new opportunities
As the first batch of enterprises listed on the NSE, Yang Zhenshi used the word "surprise" to talk about the feelings of listing on the NSE in the past year. "It should be said that listing on the NSE allows the company's development on a new level, bringing new opportunities for the company at the same time, but also on the company's management and development put forward higher requirements." Yang Zhenji said.
Construction machinery industry since 2021 began to enter the downward cycle, as a member of the construction machinery industry, five new tunnel performance is also subject to certain impact. The company achieved operating income of 426 million yuan in the first three quarters of this year, to achieve net profit attributable to shareholders of listed companies 61,969,900 yuan, revenue, net profit are compared with the same period of the previous year a slight decline.
However, Yang Zhenshi persimmon said, listed on the Bejing Stock Exchange for the company has brought a smoother financing channels, "we got good financing, in the industry downturn for the company to prepare a sufficient 'food'".
Listing on the NSE has also allowed the company to raise its brand awareness and improve its talent mechanism, said Yang Zhenshi. "Becoming a listed company expands the company's visibility, enhances the company's market position and influence, and helps the company establish its product brand image; at the same time, the company can also use stock options and other ways to achieve effective incentives for employees and management, which will help the company attract talented people and stimulate the enthusiasm of the staff to work, so as to enhance the enterprise's potential for development and backbone. "
The status of a listed company also puts higher requirements on Wuxin Tunneling. "Shareholders have higher expectations of us, which also spurs us to run our business better and return investors in a sustainable and steady manner." Yang Zhenshi said that since the listing, the company has continued to improve its governance structure and the quality of its operation, which has laid the foundation for the company's long-term development.
02 Focus on niche areas
Although the listing on the Bejing Stock Exchange puts Wuxin Tunneling on a higher platform, Yang Zhenshi said that the company will still focus on niche areas and make steady progress in the field of specialised equipment. "It is not only the big enterprises with tens of billions of yuan in revenue and leading enterprises in the industry that are successful enterprises. Doing a small thing to the utmost is also a kind of success, and what we pursue is to be 'invisible champions'."
According to reports, WuXin Tunneling belongs to the tunnel construction equipment branch of the construction machinery industry. The company focuses on drilling and blasting method of complete sets of equipment, concrete wet spraying machine and tunnel (tunnel) lining trolley is the company's fist product, in the industry leading position.
Yang Zhenshi introduction, drilling and blasting method of complete sets of equipment market size is relatively small. Concrete wet spraying machine, for example, if there are 2,000 tunnels need to be constructed each year, each tunnel needs a wet spraying machine, plus the old equipment, the annual demand for about 1,000 new units, concrete wet spraying machine annual market size of about 2 billion yuan.
With the continuous development and growth of the company, Wuxin Tunneling has expanded its business from railway, highway, water conservancy and hydropower to pumped storage, underground caverns and underground mining market. At the same time, the company will gradually implement the internationalisation strategy, actively expand the international market, and strive to become a world-class supplier of complete sets of intelligent equipment for tunnel construction and underground mining.
"We always pursue customer demand-centred and industry pain-point-solving as our focus, and continue to provide customers with original total solutions." Yang Zhenshi said.
03 Insist on innovative development
In fact, before the domestic concrete wet spraying machine is accepted by the market, China's market has been occupied by imported equipment. Looking back on the development and growth of the company and the industry, Yang Zhenshi believes that innovation is the key. "When we started to develop the concrete wet spraying machine in 2012, customers have also questioned and rejected us, and the company has also encountered many difficulties. However, through our technological innovation and service model innovation, the company's products have gradually gained market recognition and have gradually replaced the original traditional manual small machine construction."
"To today can proudly say that more than 95% of the concrete wet spraying machine we use in China are domestic brands, more than 90% of the tunnels are used on the wet spraying machine robot, no longer manual machine construction, which is a welcome achievement for the whole industry." Yang Zhenshi persimmon said.
Innovation is five new tunnel installation of the settled life of the foundation, the company has always insisted on R & D investment. "The company's revenue scale is only 100 million to 200 million yuan, we have more than 20 R & D staff. Last year, our revenue was less than 700 million yuan, the R & D staff already has more than 80, which is relatively rare in our size of the company." Yang Zhenshi said.
The company's financial data show that from 2018 to 2021 and the first three quarters of 2022, the company's research and development expenses were 11,946,800 yuan, 15,722,300 yuan, 18,372,200 yuan, 28,478,800 yuan, and 32,667,900 yuan, respectively, and the R&D investment has increased year by year.
"For enterprises, R&D investment is a must if they want to continue to develop healthily and achieve a certain position in the industry. We have always been against low price competition and vicious competition, which will jeopardise the development of the industry. We always insist that innovation drives the common development of enterprises and the industry." Yang Zhenshi said.
The R&D investment has also brought fruitful research results for Wuxin Tunneling. As of 30 June 2022, the company has 331 patents, including 65 invention patents, 246 utility model patents and 20 design patents, and has built an intellectual property protection system for its own products and technologies. Meanwhile, the company is also a national speciality, speciality and new "small giant" enterprise.
According to the notice issued by China Machinery Industry Federation on the commendation of 2022 "Machinery Industry Science and Technology Award", the project "Research and Application of Key Technology of Intelligent Equipment for Wet Spraying of Concrete in Long Tunnels" led by Wuxin Tunneling was awarded the Second Prize of Science and Technology of Machinery Industry.