[年报]东方精工(002611):2021年年度报告（英文版）
原标题:东方精工:2021年年度报告（英文版） Guangdong Dongfang Precision Science & Technology Co., Ltd. 图片包含 徽标 描述已自动生成 Annual Report 2021 March 2022 Part I Important Notes, Table of Contents and Definitions The Board of Directors (or the “Board”), the Supervisory Committee as well as the directors, supervisors and senior management of Guangdong Dongfang Precision Science & Technology Co., Ltd. (hereinafter referred to as the “Company”) hereby guarantee that the contents of this Report are true, accurate and complete and free of any misrepresentations, misleading statements or material omissions, and collectively and individually accept legal responsibility for such contents. Tang Zhuolin, the Company’s legal representative, Shao Yongfeng, the Company’s Chief Financial Officer, and Yao Bin, the Head of the Company’s Accounting Department (equivalent to Financial Manager) hereby guarantee that the financial statements carried in this Report are truthful, accurate and complete. Apart from the following director, other directors of the Company attended in person the board meeting for the approval of this Report. The name of director who did not attend in person The post of director who did not attend in person Reasons for not attending the meeting in person Consignee’s name Peng Xiaowei Independent Director Personal Work He Weifeng The future development strategies, business plans and other forward-looking statements mentioned in this Report shall be deemed as uncertain plans instead of promises to investors. Therefore, investors are reminded to exercise caution when making investment decisions. For possible risks with respect to the Company, please refer to “(III) Possible Risks and Countermeasures” in “XI Prospects” of “Part III Management Discussion and Analysis” herein. And investors are kindly advised to read through the aforesaid contents. The Company planed not to distribute cash dividends, neither give away bonus shares, nor capitalize from public reserve. This Report has been prepared in Chinese and translated into English. Should there be any discrepancies or misunderstandings between the two versions, the Chinese version shall prevail. Table of Contents Part I Important Notes, Table of Contents and Definitions ........................................................... 2 Part II Corporate Information and Key Financial Information ................................................... 6 Part III Management Discussion and Analysis ............................................................................. 11 Part IV Corporate Governance ...................................................................................................... 75 Part V Environmental and Social Responsibilities ..................................................................... 103 Part VI Significant Events ............................................................................................................. 105 Part VII Share Changes and Shareholder Information ............................................................. 119 Part VIII Preference Shares .......................................................................................................... 129 Part IX Corporate Bonds .............................................................................................................. 130 Part X Corporate Financial Statement ........................................................................................ 131 Definitions Term Definition Dongfang Precision, or the “Company” Guangdong Dongfang Precision Science & Technology Co., Ltd. and its consolidated subsidiaries, except where the context otherwise requires Dongfang Precision (China) The corrugated box packaging machinery division of Guangdong Dongfang Precision Science & Technology Co., Ltd. Fosber Group Fosber S.p.A. Fosber Asia Guangdong Fosber Intelligent Equipment Co., Ltd. Fosber America Fosber America, Inc. Fosber Tianjin Fosber Machinery (Tianjin) Co., Ltd. Tiru.a Group Tiru.a Group Industrial, S.L. Tiru.a America Tiru.a America Inc. QCorr QuantumCorrugated S.r.l. Dongfang Precision (Europe)/EDF EDF Europe S.r.l. Dongfang Precision (Netherland) Dong Fang Precision (Netherland) Cooperatief U.A. Dongfang Precision (HK) Dong Fang Precision (HK) Limited Parsun Power Suzhou Parsun Power Machine Co., Ltd. Suzhou Jinquan Suzhou High-Tech Zone Jinquan Business Management Partnership (Limited Partnership) Shunyi Investment Suzhou Shunyi Investment Co., Ltd. Yinglian Digital Foshan Yinglian Digital Printing Equipment Co., Ltd. Jaten Robot Guangdong Jaten Robot & Automation Co., Ltd. Hainan Yineng Hainan Yineng Investment Co., Ltd. Dongfang Digicom Dongfang Digicom Technology Co., Ltd. Dongfang Digicom (Guangdong) Dongfang Digicom Technology (Guangdong) Co., Ltd. Corrugated board Corrugated board is a multi-layer paper-bonding object composed of at least one sandwich layer of wavy medium (commonly known as "corrugated paper", "corrugated medium paper", "corrugated paper medium" and "corrugated base paper") and one layer of cardboard (also known as "liner board"). Corrugated box Corrugated box is a rigid paper container made of corrugated boards through die cutting, indenting, nailing or gluing. Corrugated box is one of the most widely used packaging containers in modern business and trade. Corrugated box printing and packaging machinery Corrugated box printing and packaging machinery include corrugated box printing and packaging line and stand-alone products that integrates pre-feeding, printing, grooving, die cutting, forming and packaging functions in whole or in part, which is highly functionally integrated, highly automated and highly technical, can save the capital and manpower investment, reduce workers' workload and improve the production efficiency of box manufacturers, and requires equipment manufacturers to be highly competent in design, technological innovation, assembly and finishing of parts. Corrugator lines Corrugator lines are assembly lines comprising corrugating, gluing, agglutinating, bundle breaking, dimension board cutting and output processes, which are used to produce and process corrugated boards. A corrugator line has two independent process sections as the wet section and the dry section. The wet section, composed of the base paper stand, auto splicer, preheat pre-regulator, single-face corrugator, feeding bridge, glue machine and double facer, is used to make corrugated based paper into three-layer, five-layer and seven-layer corrugated boards of different corrugated combinations. The dry section, composed of the rotary shear, slitter indenter, cut-off knife and stacker, is used to slit, indent, cut off and stack corrugated boards as ordered. Corrugator lines are key production equipment for corrugated board and box manufacturers. Pre-printing and post-printing intelligent automatic packaging machinery Pre-printing and post-printing intelligent automatic packaging machinery refers to equipment that is compatible with the corrugated box printing line or stand-alone products and can provide functions related to pre-printing and post-printing processes of corrugated box printing and packaging. It includes the pre-feeder, stripper conveyor, intelligent stacker and folder gluer. Outboard motors Outboard motors are a kind of detachable power units that are mounted on the stern plate of a boat to drive the boat to sail. General utility small gasoline motors General utility small gasoline motors are a kind of thermo-dynamic machinery of 20kW power or less with a wide range of applicability. It is characterized by small size, light weight and easy operation, and is usually used as a power engine for a variety of terminal products. By the structure of engine and principle of work, general utility small gasoline motors can be divided into two-stroke general utility small gasoline motors and four-stroke general utility small gasoline motors. CSRC China Securities Regulatory Commission SZSE, or the “Stock Exchange” Shenzhen Stock Exchange RMB yuan, RMB’0,000 Expressed in the Chinese currency of Renminbi, expressed in tens of thousands of Renminbi The “Reporting Period” or “Current Period” The period from 1 January 2021 to 31 December 2021 Part II Corporate Information and Key Financial Information I Corporate Information Stock name Dongfang Precision Stock code 002611 Stock exchange Shenzhen Stock Exchange Company name in Chinese 广东东方精工科技股份有限公司 Abbr. 东方精工 Company name in English (if any) Guangdong Dongfang Precision Science & Technology Co., Ltd Abbr. (if any) Dongfang Precision Legal representative Tang Zhuolin Registered address (Office Building, Plant A, Plant B) 2 Qiangshi Road, Shishan Town, Nanhai District, Foshan City, Guangdong Province, China Zip code 528225 Office address 25/F, Hisense Southern Building, 1777 Chuangye Road, Nanshan District, Shenzhen City, Guangdong Province, China Zip code 518000 Company website http://www.df-global.cn/ Email address [email protected] II Contact Information Board Secretary Securities Representative Name Feng Jia Zhu Hongyu Office address 25/F, Hisense Southern Building, 1777 Chuangye Road, Nanshan District, Shenzhen City, Guangdong Province, China 25/F, Hisense Southern Building, 1777 Chuangye Road, Nanshan District, Shenzhen City, Guangdong Province, China Tel. 0755-36889712 0755-36889712 Fax 0755-36889822 0755-36889822 Email address [email protected] [email protected] III Media for Information Disclosure and Place where this Report Is Lodged Newspapers designated by the Company for China Securities Journal, Shanghai Securities News, and Securities Times information disclosure Website designated by the CSRC for publication of this Report http://www.cninfo.com.cn Place where this Report is lodged Securities Department of the Company, 25/F, Hisense Southern Building, 1777 Chuangye Road, Nanshan District, Shenzhen City, Guangdong Province, China IV Change to Company Registered Information Organization code 914406002318313119 Change to the principal activities of the Company since its listing (if any) Unchanged Every change of controlling shareholder since incorporation (if any) Unchanged V Other Information The independent auditor hired by the Company: Name of independent auditor Ernst & Young Hua Ming LLP Office address 18/F, Ernst & Young Tower, 13 Pearl River East Road, Tianhe District, Guangzhou City, China (the Headquarters: Rooms 01-12, 17/F, Ernst & Young Tower, Oriental Plaza, 1 East Chang An Avenue, Dongcheng District, Beijing, China) Accountants writing signatures Feng Xingzhi and Lin Hongyan The independent sponsor hired by the Company to exercise constant supervision over the Company in the Reporting Period: □ Applicable √ Not applicable The independent financial advisor hired by the Company to exercise constant supervision over the Company in the Reporting Period: □ Applicable √ Not applicable VI Key Financial Information Indicate whether there is any retrospectively restated datum in the table below. □ Yes √ No 2021 2020 2021-over-2020 change (%) 2019 Operating revenue (RMB) 3,524,734,783.94 2,916,270,143.13 20.86% 9,973,503,602.19 Net profit attributable to the listed company’s shareholders (RMB) 467,333,661.79 389,180,624.08 20.08% 1,838,018,805.50 Net profit attributable to the listed company’s shareholders before exceptional gains and losses (RMB) 380,806,233.00 263,426,429.87 44.56% 438,715,870.86 Net cash generated from/used in operating activities (RMB) 306,659,276.02 550,996,031.75 -44.34% 281,297,787.01 Basic earnings per share (RMB/share) 0.35 0.26 34.62% 1.01 Diluted earnings per share (RMB/share) 0.35 0.26 34.62% 1.01 Weighted average return on equity (%) 11.72% 6.20% 5.52% 36.87% 31 December 2021 31 December 2020 Change of 31 December 2021 over 31 December 2020 (%) 31 December 2019 Total assets (RMB) 6,357,168,835.19 6,323,236,687.05 0.54% 6,273,516,157.31 Equity attributable to the listed company’s shareholders (RMB) 3,681,970,298.39 4,158,538,499.75 -11.46% 4,337,064,607.87 Indicate whether the lower of the net profit attributable to the listed company’s shareholders before and after exceptional gains and losses was negative for the last three accounting years, and the latest independent auditor’s report indicated that there was uncertainty about the Company’s ability to continue as a going concern. □ Yes √ No Indicate whether the lower of the net profit attributable to the listed company’s shareholders before and after exceptional gains and losses was negative. □ Yes √ No VII Accounting Data Differences under China’s Accounting Standards for Business Enterprises (CAS) and International Financial Reporting Standards (IFRS) and Foreign Accounting Standards 1. Net Profit and Equity under CAS and IFRS □ Applicable √ Not applicable No difference for the Reporting Period. 2. Net Profit and Equity under CAS and Foreign Accounting Standards □ Applicable √ Not applicable No difference for the Reporting Period. VIII Key Financial Information by Quarter Unit: RMB Q1 Q2 Q3 Q4 Operating revenue 636,432,223.23 764,126,740.95 1,071,169,589.35 1,053,006,230.41 Net profit attributable to the listed company’s shareholders 64,628,103.90 126,489,416.56 129,754,201.64 146,461,939.69 Net profit attributable to the listed company’s shareholders before exceptional gains and losses 51,969,185.59 104,053,646.97 119,708,244.58 105,075,155.86 Net cash generated from/used in operating activities 57,536,376.72 148,487,451.53 -82,307,806.29 182,943,254.06 Indicate whether any of the quarterly financial data in the table above or their summations differs materially from what have been disclosed in the Company’s quarterly or interim reports. □ Yes √ No IX Exceptional Gains and Losses √ Applicable □ Not applicable Unit: RMB Item 2021 2020 2019 Note Gain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs) -65,995.13 -52,742.69 -95,745,648.97 Government grants through profit or loss (exclusive of government grants given in the Company’s ordinary course of business at fixed quotas or amounts as per the 14,700,007.84 10,749,683.55 22,854,061.39 government’s uniform standards) Gain equal to the amount by which investment costs for the Company to acquire subsidiaries, associates and joint ventures are lower than the Company’s enjoyable fair value of identifiable net assets of investees when making investments 866,489.40 Gain or loss on fair-value changes on held-for-trading and derivative financial assets and liabilities & income from disposal of held-for-trading and derivative financial assets and liabilities and other debt investments (exclusive of the effective portion of hedges that arise in the Company’s ordinary course of business) 73,435,063.51 96,118,955.74 1,473,114,508.83 Non-operating income and expenses other than the above 4,779,490.65 33,173,454.66 9,007,522.57 Other gains and losses that meet the definition of exceptional gain/loss 0.00 1,229,987.66 Less: Income tax effects 6,017,410.70 15,906,631.40 9,881,032.32 Non-controlling interests effects (net of tax) 303,727.38 425,002.71 46,476.86 Total 86,527,428.79 125,754,194.21 1,399,302,934.64 -- Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item defined or listed in the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/Loss Items: □ Applicable √ Not applicable No such cases for the Reporting Period. Part III Management Discussion and Analysis I Industry Overview for the Reporting Period Dongfang Precision operates in the "corrugated packaging machinery" industry. With the strategic vision of "intelligent manufacturing", the Company is committed to the R&D, design and production of corrugated packaging machinery, and provides customers in the industry with production lines, equipment, software and supporting services necessary for the production and processing of corrugated packaging products. According to the Guidelines for the Industry Classification of Listed Companies of the CSRC, the Company is assigned to "Manufacturing Industry - Specialised Equipment Manufacturing Industry". According to the SWS Industry Classification Version 2021, the Company is assigned to "Machinery Equipment - Specialised Equipment - Printing and Packaging Machinery". (I) Industry overview 1. Corrugated packaging machinery is closely related to the downstream corrugated packaging industry Corrugated packages are very common and widely-used packaging products in food and beverage, clothing, shoes and hats, home appliance and furniture, pharmaceutical and daily chemicals, e-commerce and express and logistics industries. The consumption and production of corrugated packages are closely related to the "big consumption" industry. As consumer goods are in rigid demand in the national economy, higher economic and social development levels, better quality of life of people and higher public consumption level are the fundamental driving forces for greater demand for corrugated packages, as well as the fundamental driving forces for higher capacity of corrugated packages and greater demand for corrugated packaging machinery. Nowadays, carbon emission reduction and carbon neutrality are the necessary solutions for global climate problems, and green circular economy is an important way to implement it. Corrugated packages are degradable, recyclable and more environmentally friendly than plastic packages. Since 2020, when China enforced the "most strict plastic ban in history", governments at all levels have introduced specific measures to reduce the use of plastic products in the packaging industry, which is expected to further promote the growth of the domestic market's demand for corrugated packages. Compared with mature markets in Europe and the United States, the packaging industry market in China is more scattered. With the continuous improvement of concentration, continuous aggregation of market shares to medium- and large-sized enterprises and continuous improvement of the comprehensive strength of leading packaging enterprises, the demand for middle- and high-end capacity and machinery of the corrugated packaging industry market will soon grow rapidly. For economic, environmental and policy considerations, primary and secondary plants in the corrugated packaging industry prefer production lines and machinery with higher production efficiency, stability and reliability and degree of intelligence. 2. The corrugated packaging machinery industry gradually marches toward digitalization and intelligence The development of the corrugated packaging machinery industry experienced mechanization, electrification and automation stages, and is now heading intelligence and digitalization. After years of rises in labor price, land price and other production factor prices, as well as tightening environmental regulations and labor shortage and the epidemic shock over the past two years, the printing and packaging industry is facing the change of packaging and printing demand of terminal customers toward "small size of single batches + multiple batches + customization", and it has become a consensus that the production capacity is upgrading toward "intelligence, digitalization and automation". In the post-epidemic era, practitioners in the industry have perceived more deeply the importance of "intelligent plants" and "industrial interconnection". Leading medium- and large-sized enterprises have taken positive measures to accelerate digital and intelligent production. As estimated, there are over 6,000 corrugator lines in the domestic market, and more corrugated box printing and packaging machinery. In the next five to ten years, these production lines and machinery will be replaced by more intelligent ones with higher production efficiency, stability and reliability. (II) The Company’s position in the industry Medium- and high-end corrugated packaging machinery integrates servo CNC, mechanical-electrical design, machine finishing and information-based production management, and is highly technological and valuable, falling under the technology-intensive and capital-intensive industry. Since its establishment, Dongfang Precision has been targeting middle- and high-end markets. Always pursuing high product quality and excellent customer service, it has been a reliable partner for large- and medium-sized enterprises in the global corrugated packaging industry over the years. It is estimated that the global market size of the corrugated packaging machinery industry is about RMB30 billion to RMB40 billion. Most of the first-tier manufacturers are from the United States and developed countries in Europe, including BHS (Germany) and Fosber Group (a wholly-owned subsidiary of Dongfang Precision) engaging in corrugator lines and Bobst (Switzerland), Gopfert (Germany), Dongfang Precision (China) and Dongfang Precision (Europe) engaging in corrugated box printing and packaging lines. By the size of revenue, Dongfang Precision has the overall market share of its corrugated packaging machinery business is about 10% in the global industry market, ranking first among domestic enterprises of the same type and second in the global market of the same type in corrugated packaging machinery sector. II Principal Activities of the Company in the Reporting Period (I) Overview The Company's principal businesses in 2021 are as follows: [Table 1: Principal Businesses of Dongfang Precision] Principal business/product Main functions and application fields Intelligent corrugated packaging machinery . Corrugator lines. It is used for the production of corrugated boards of different specifications, and is the core and key machinery for corrugated packaging production. They are widely used in large- and medium-sized enterprises (primary and secondary plants) producing corrugated boards in the industrial chain. A corrugator line is composed of two process sections, namely wet-end equipment and dry-end equipment, independent of each other. The former makes corrugated base paper into three-layer, five-layer and seven-layer corrugated boards, and the latter longitudinally cuts, presses, transversely cuts and stacks corrugated boards as required by orders. . Corrugated box printing and packaging machinery. It is used to produce and process corrugated boards into corrugated boxes of different specifications as required by customers, and it includes such processes as corrugated paper feeding, printing, slotting, die cutting and box stitching. Corrugated box printing and packaging machinery is composed of the corrugated box printing line, the corrugated box printing machine and the supporting pre-printing and post-printing machines for the printing unit including the paper feeding unit, slotting and die cutting unit, waste discharging unit, box pasting and stitching unit and the counting and stacking unit. The printing and packaging machinery is the core of corrugated box production, and is widely used by all kinds of enterprises (primary plants, secondary plants and tertiary plants) that process and produce corrugated boxes in the corrugated packaging industry chain. Corrugated packaging industry Intelligent plant solutions The Company has built an enterprise- and industry-level intelligent plant platform for customers in the corrugated packaging industry to help the customers realise a digital and network-based equipment layer, connect business, cash, and information flows, and promote comprehensive digitalisation of the production and operation layer, as well as data-based reasonable management and decision-making, in order to promote intelligent transformation, and enhance enterprise competitiveness in all respects. Outboard power products Outboard motors are a kind of detachable power units that are mounted on the stern plate of a boat to drive the boat to sail, and can be applied to boats shorter than 24m in inland rivers, lakes and coastal waters. They are widely used in water recreation, fishing, water traffic, emergency rescue, shore landing and maritime patrol. (II) Intelligent corrugated packaging machinery business 1. Overview of the intelligent corrugated packaging machinery business The Company's core business is intelligent corrugated packaging machinery, in which it provides medium- and large-sized enterprise customers in the global corrugated packaging industry with core and key production lines and machines making up the production lines necessary for the corrugated packaging production and processing. The Company has become a one-stop production line and machinery supplier with leading comprehensive strength in the industry for corrugated packaging enterprise customers, and provides machinery products for the production and printing of corrugated boards and paper feeding/slotting/die cutting/waste discharging/pasting and stitching/counting/stacking of corrugated boxes of corrugator plants and corrugated box plants. 图示 描述已自动生成 [Figure 1 Relationship between Corrugated Packaging Production and Industrial Value Chain and the Company's Intelligent Corrugated Packaging Machinery Products] Corrugated base paper Kraft paper Corrugated boxes Intelligent high-speed corrugator lines High-precision corrugator lines Corrugated box printing and packaging lines (top printing fixed type) Corrugated box printing and packaging lines (bottom printing open-close type) Corrugator 2. Main products in intelligent corrugated packaging machinery business (1) Corrugator lines The Company's corrugator line business is mainly operated by the wholly-owned subsidiary Fosber Group (consisting of Fosber Italy, Fosber America, QCorr, Tiru.a Group, etc.) and the holding subsidiary Fosber Asia. The subsidiary Fosber Group owns S-Line, C-Line and Quantum-Line products, and its main customer groups are in Europe, North America and Latin America. The subsidiary Fosber Asia owns Pro-Line and E-Line products, and its main customer groups are in China, Southeast Asia and South Asia. The Company's middle- and high-end corrugator line products are ahead of those of domestic brands of enterprises of the same type in overall performance including velocity, width, intelligence, precision and stability, and run stably and are provided with good technical support, being greatly competitive in the global industry market. (2) Corrugated box printing and packaging lines The Company's corrugated box printing and packaging line business is mainly operated by Dongfang Precision (China) and Dongfang Precision (Europe). Dongfang Precision (China) owns integrated corrugated box printing and packaging line products including Dongfang Star I top printing fixed type FFG inline, Dongfang Star II top printing open-close type FFG inline, Super Star I bottom printing die cutter stripper vacuum stacker converting line, Super Star II bottom printing open-close type FFG inline and Super Star III bottom printing open-close type/FFG & stitcher line, covering different types and specifications as fixed type/open-close type and top printing/bottom printing. Besides, Dongfang Precision (China) also sells the main assemblies of the integrated line products up to dozens of different specifications, as well as corrugated box printing and packaging machinery products of different market positioning. Its integrated line products and single machine products are marketed in over 30 countries and regions in Europe, America, Asia, Africa, Latin America and Oceania. Dongfang Precision (Europe) owns high-end integrated corrugated box printing and packaging lines including FD quickset top printing FFG inline and HGL quickset bottom printing FFG inline and quickset bottom printing FFG/die cutter stripper line, and sells them in the European market. These lines can feed paper without crushing and be separately controlled by the servo, is fully automatic, and is capable of high-resolution printing. Besides, it also sells pre-printing and post-printing machines of different specifications that are applicable to integrated line products, including paper feeders, waste dischargers, intelligent stackers and folder gluer. C:\Users\May\AppData\Local\Temp\WeChat Files\07bd308be16b87266189549a05908b1.png C:\Users\May\AppData\Local\Temp\WeChat Files\7e03995d006de1f38e51608fa04554f.png 画着卡通图案 中度可信度描述已自动生成 C:\Users\May\AppData\Local\Temp\1647075124(1).png F:\005_MANUALI e LAVORI in PREPARAZIONE\16520_(RIGID_CONTAINERS_WELLINGTON_SOMERSET_INGHILTERRA)\06_ILLUSTRAZIONI PLC\RIGID_2a.tif C:\Users\May\AppData\Local\Temp\WeChat Files\5b5f0940c4160cb021df606289e0642.png C:\Users\May\AppData\Local\Temp\WeChat Files\70d10952a405060f228ce56331738ea.jpg 图片包含 文本 描述已自动生成 C:\Users\May\AppData\Local\Temp\1647063502(1).png [Table 2 Main Product Matrix of the Intelligent Corrugated Packaging Machinery Business of Dongfang Precision - Corrugator Lines] Product type Brand Product image Main characteristics Corrugator lines Width: 2.5m to 2.8m; Velocity: 250 to 470m/min Pro/Care, Pro/Quality, etc. Industrial Production Information System 4.0 Width: 1.8m to 2.5m; Innovation Compact body and high flexibility More suitable for the production of light corrugated boards Width: 2.2m to 2.8m; Velocity: 180 to 320m/min The world's top three professional suppliers of corrugating rolls and pressure rolls, with leading processing and tungsten carbide processing 徽标 描述已自动生成 technologies [Table 3 Main Product Matrix of the Intelligent Corrugated Packaging Machinery Business of Dongfang Precision - Corrugated Box Printing and Packaging Lines] Product type Brand Product image Main characteristics Integrated Top printing fixed type Full servo control Model change without suspension 2min quick order change Energy-saving, efficient and intelligent Top printing open-close type Servo motor control Require only 2 to 3 operators for one integrated line Dongfang Star I top printing fixed type FFG inline Dongfang Star II top printing open-close type FFG inline Product type Brand Product image Main characteristics corrugated box printing and packaging lines Efficient, stable, thorough cleaning Accurate counting and automatic stacking Suitable for special-shaped boxes, machine-packed boxes and pre-printed boxes, and can cut dies by continuous clicks once after being powered on, which solves the industry pain point Require only 2 to 3 operators for one integrated line A professional die cutter FFG line Suitable for efficient production of boxes requiring slotting or die cutting Servo motor control Require only 2 to 3 operators for one integrated line Super Star I bottom printing die cutter stripper vacuum stacker converting line Super Star II bottom printing open-close type FFG inline 徽标 描述已自动生成 http://www.revolutionind.com.au/wp-content/uploads/2016/12/EDF-Logo-300x300.gif 图片包含 打印机, 游戏机 描述已自动生成 Product type Brand Product image Main characteristics Integrated corrugated box printing and packaging lines A well-established bottom printing FFG & stitcher All-in-one control and easy operation One machine for multiple purposes supporting order changes Fewer processes and lower labor costs High-end bottom printing fixed type line Driven by spindle servo Quick order change Complete pre-printing and post-printing supporting units High-end bottom printing open-close type line Servo motor control Require only 2 to 3 operators for one integrated line Super Star III bottom printing open-close type/FFG & stitcher line 3. Business model of intelligent corrugated packaging machinery business A. R&D model Both the corrugator line business represented by the subsidiaries Fosber Group and Fosber Asia and the corrugated box printing and packaging machinery business represented by Dongfang Precision (China) and Dongfang Precision (Europe) are equipped work industry-leading independent design and R&D capabilities. The Company keeps building a high-level R&D innovation management mechanism, and has an R&D team composed of industry-leading experts, and secure the leading position of its technology in the industry with long-term and short-term product R&D plans, market-oriented R&D mechanism and refined R&D talent incentive policies. B. Procurement and production model The Company purchases steel plates, metal components and electric components from external suppliers, while producing core machining components and corrugating rolls by itself. It produces most of the machinery products according to orders, and purchases raw materials from suppliers, compiles annual, quarterly and monthly production plans and reasonably arranges production according to sales contracts and raw materials on hand only after receiving customers' orders and requiring customers to pay part of the down payment. In production and operation management, the Company promotes "lean production" to accurately control BOM costs and manufacturing costs and continuously improve operational efficiency. In general cases, orders of corrugator lines will be delivered in 4 to 6 months, and orders of corrugated box printing and packaging machinery will be delivered in 2 to 3 months. C. Marketing model In terms of the marketing method, the Company sells products through direct selling and distribution. In the domestic market, the Company sells products through direct selling. In overseas markets, the subsidiaries Fosber Group and Fosber Asia sell through direct selling and Dongfang Precision (China) and Dongfang Precision (Europe) sell through agency distribution in some overseas markets. Direct selling allows the Company to directly face customers to ensure accurate demand information, prompt information transmission and information feedback to the Company's R&D and production departments, so that customers can be timely provided with overall solutions. Due to the complexity of products, the Company has an outstanding after sales service team that is responsible for on-site installation, commissioning, training and after sales services, which can provide 7*24h prompt response and support as required by customers. In terms of the types of products being sold, the Company sells production lines, single machines, accessories, software and services. Integrated lines and single machines are sold only once, and the amount of each sale is large. Accessories, software and services are sold multiple times during the lifecycle of machines. In the industry market, the continuously increasing holding of the Company's machinery boosts ceaseless sales of the Company's accessories, software and services, and high-quality technical support and services drives the sales of production lines and machines, which is fully evidenced by the high re-purchase rate of the Company's middle- and high-end machinery products, so the two support and facilitate each other. In terms of the settlement method of sales payment, the Company enjoys a high brand awareness and superior bargain power in the industry, so it collects down payment in advance and payment by stages for the sales of corrugator lines and corrugated box printing and packaging machinery products. In general cases, 80% to 90% of the sales payment can be collected upon the delivery of products. (III) Overall solution business for intelligent plants in the corrugated packaging industry Dongfang Digicom, established in 2020, is the key carrier of the implementation of the Group's "digitalisation and intellectualisation strategy". Adhering to the purpose and mission of "making the industry more intelligent and manufacturing simpler" and with the vision of "to become a world-leading supplier of overall solutions of intelligent plants and industrial Internet services in the packaging industry", it is specialized in building an enterprise-level and industry-level industrial Internet platform for the corrugated packaging industry that integrates new information technologies including IoT, cloud computing, big data, 5G and AI. Aiming at the current situation that most domestic corrugated packaging enterprises are poorly capable of production resources integration and in labor shortage, have unreasonable workshop layout and have a large room for production efficiency improvement, the intelligent logistics business team of Dongfang Digicom provides corrugated packaging enterprises in China with tailor-made intelligent logistics solutions for intelligent plants based on years of profound experience in global and domestic industry markets and ERP, APS, WMS/WC and MES technologies and in combination with advanced international technical concepts and the distinctive characteristics of the carton packaging market in China. The Company enjoys a whole-industrial-chain layout in the corrugated packaging machinery sector, and the most complete and rich product base in the industry. With nearly 30 years of profound experience in Know-How in the corrugated packaging machinery sector, it is the firm foundation and solid support for Dongfang Digicom. With an unswerving strategic focus, the Company continues resources input and import of talents specialized in 日程表 描述已自动生成 industrial Internet, and has developed the unique and core technical R&D force of Dongfang Digicom to output solutions with completely independent intellectual property rights. Figure 2 Dongfang Digicom's Overall Solutions for Intelligent Plants in the Corrugated Packaging Industry Intelligent operation Intelligent plant Intelligent manufacturing Data middle office Tool platform Supply chain finance Online mall Business synergy Business operation Second-hand machinery market Decision-making analysis Abnormality monitoring and handling Visualized (Web/app...) Energy monitoring Operation analysis Design and manufacturing integration Network-based synergetic manufacturing Quality control Cost management Intelligent scheduling （未完）  |