This article**: Times Business School Author: Qian Tao.
Wen Qiantao. Not only is it listed as a provincial-level specialized, special and new, but its subsidiaries are also listed as specialized, special and new, and even become a national-level specialized, special and new little giant enterprise.
On September 25, 2023, Huayang Intelligent released the latest prospectus (registration draft) to disclose that the company's main business is the research and development, production and sales of micro and special motors and application products. Based on strong innovation ability and technical strength, the company and its subsidiary Jiangsu Delphi have been recognized as "specialized, special and new" small and medium-sized enterprises in Jiangsu Province in 2022In July 2023, Jiangsu Delphi was selected as the fifth batch of national-level specialized, special and new "little giant" enterprises.
As a leader in the micro motor industry, Huayang Intelligent has attracted much attention from the market. On the one hand, the company's micro motor and components business has a high market position in the air conditioning segment. After years of industry accumulation and development, the company has been serving the leading enterprises in the home appliance industry for a long time, and is the main micro and special motor and component supplier of well-known home appliance groups such as Midea, Gree, Haier, Hisense, and Oaks. The company's main customers have covered most of the domestic air conditioning market. On the other hand, the precision drug delivery device business extended by motor technology has a high growth potential, and in the past three years, the company's precision drug delivery devices have achieved revenue of 2,581 respectively620,000 yuan, 4,180$980,000 and $6,315160,000 yuan, with a rapid growth rate and great potential for continuous growth.
Innovation-driven consolidates the foundation of the company's longevity
Due to the diversification of application fields, the overall market size of micro and special motors is large. As an indispensable key basic electromechanical component for industrial automation, office automation, home automation, and high-end equipment automation, micro and special motors have a wide range of downstream applications, such as household appliances, automobiles, information processing, aviation, medical, textile, industrial control, video processing and other fields. According to data from Huajing Industry Research Institute, the market size of micro and special motors in China in 2020 was 242.3 billion yuan.
In recent years, with the development of precision micro motor and transmission technology and the improvement of automation and intelligence needs, the application field of micro and special motor is gradually expanding. While maintaining steady growth in household appliances, automobiles, industrial control and other application fields, the rapid development of emerging fields such as medical devices, wearable devices, robots, drones, and smart homes will bring new growth momentum to the micro and special motor industry.
According to data from the China Electronic Components Industry Association, consumer electronics and household appliances are the main application fields of micro and special motors, accounting for 29% and 26% respectively*Aviation, agriculture, textiles, medical, packaging, etc. accounted for 20%;Automotive electronics account for 13%;Image processing, industrial control, and others accounted for a relatively small amount, accounting for 7% and 5% respectively.
Founded in 2001, Huayang Intelligent has been deeply engaged in the field of micro and special motors for many years, and the company mainly focused on air conditioning wind guide motors used to control the movement of air conditioning fan blades in the early stage of technology research and development. From 2001 to 2008, relying on market reputation, product advantages and service advantages, Huayang Intelligent cooperated with well-known home appliance groups such as Midea, Gree, Haier, Hisense, and Oaks, and gradually became an important air-conditioning wind guide motor supplier for the above enterprises.
Innovation-driven is the magic weapon for the growth of Huayang Intelligence. Through independent research and development of new technologies and new processes, we continue to improve product performance and process technology level to better meet market development trends. Huayang Intelligent continues to extend to the field of new technologies, cross-application of technology accumulation, and lays a technical foundation for building a diversified product layout and expanding business areas. In addition, based on the micro motor and transmission technology, the company relies on its own technology research and development capabilities, strategically lays out the medical and health field, applies the micro motor to the precision drug delivery device, extends the micro motor industry chain, and significantly improves the economic added value of the product.
In terms of micro motors and components, the company has independently innovated and designed stepper motors without circuit boards and lead structures, which can effectively reduce the probability of undesirable problems such as short circuit and desolderingCombined with the coil secondary needle pressing process, the reliability of the motor structure is improved, and the yield and service life of the motor are improved. In the air conditioning pump products, the company uses a multi-functional connecting rod and a diversion pump cover design to reduce the space volume of the water pump, reduce the kinetic energy consumption caused by the turbulence inside the fluid, and improve the energy efficiency of the water pump products.
In terms of precision drug delivery device, Huayang Intelligent has independently developed a double closed-loop control technology based on pulse control and photoelectric detection feedback signal technology, which realizes high-precision control of the power micro-motor and accurate tracking of abnormal conditions through software algorithms, combined with the micro-step subdivision control technology of the trapezoidal coil current of the stepper motor, so that the electronic injection pen can obtain a constant thrust, so as to achieve safe and accurate injection of the drug, and the minimum injection dose is 0005ml。After years of development, the company has formed a wealth of technological innovation achievements and mastered a series of core technologies. As of the end of the reporting period, the company has 188 authorized patents, including 15 invention patents, 142 utility model patents and 31 appearance patents, and participated in the drafting of the national standard "General Specification for Deceleration Permanent Magnet Stepper Motors" (GB T40131-2021).
Second, the growth curve is high, and the growth potential can be expected
Technological innovation brings industry-leading advantages and builds a technological moat of Huayang Intelligence.
The manufacturing of micro and special motors involves precision machinery and fine processing, which requires a large number of process equipment and high precision, and a series of precision testing instruments are also needed to ensure the quality of products, which is an industry with high technical requirements. Most of the technical processes can not be obtained by simple introduction, and need to be digested and absorbed for a long time and secondary development to master, and some key process positions also need experienced skilled workers to be competent. There are many varieties of micro and special motors, and there are many different specifications of the same variety, and the technical characteristics of different varieties and different specifications are quite different, and the requirements for product performance, service life, safety and stability are higher. Therefore, the industry needs to continue to innovate in technology and process to meet production needs and customer needs. It is difficult for new entrants to break through the threshold of technology and process in a short period of time.
Precision drug delivery device belongs to medical devices, is a multidisciplinary cross-integration of knowledge-intensive and technology-intensive business, medical device products safety, effectiveness, accuracy and reliability must be guaranteed, so medical device manufacturers must continue to improve their technical level, maintain continuous research in order to develop high-quality products to meet customer needs;At the same time, it is necessary to keep up with the pace of customer research and development, and simultaneously carry out supporting design and development of new drugs, which is difficult for new entrants in the industry to have such technical capabilities.
In the context of the continuous advancement of domestic biomedical innovation, precision drug delivery devices, as supporting products of many drugs, are expected to benefit deeply.
Taking Huayang Intelligent as an example, the company's precision drug delivery device has been recognized by well-known domestic biopharmaceutical companies such as Jinsai Pharmaceutical, Haosen Pharmaceutical, Salubris, etc., among which Jinsai Pharmaceutical is the largest genetic engineering pharmaceutical company in China and the largest recombinant human growth hormone manufacturer in Asia, with a market share of about 70% in China in the water injection dosage form (i.e., the dosage form that requires the use of injection pens);The pegylated loxenatitide independently developed by Haosen Pharmaceutical is the first long-acting GLP-1RA independently developed in China, which is expected to break the monopoly of foreign pharmaceutical companies GLP-1RA in ChinaSalubris is currently the first company in China to be successfully approved to produce teriparatide injection, and is expected to form a strong substitute for Eli Lilly's original teriparatide drug by virtue of its best advantages.
Thanks to the deep cultivation in the field of micro and special motors of household appliances and the forward-looking layout in the field of precision drug delivery devices, Huayang Intelligent has shown good growth in recent years, and from 2020 to June 2023, the company has achieved operating income of 39,57560,000 yuan, 49853570,000 yuan, 46,343890,000 yuan and 26,739970,000 yuan, the company's main business market prospect is good, the overall competitiveness is strong and in the stage of rapid growth.
In addition to long-term technology accumulation and upgrading in the field of micro and special motor related technologies, the company's diversified R&D and expansion capabilities are the key to achieving track breakthroughs and business development.
Based on its own technology accumulation, Huayang Intelligent continuously excavates the downstream application fields of the company's micro and special motors and transmission technologies, and continues to invest in R&D to extend the field in response to the actual and potential needs of the market, so as to achieve a breakthrough in the field of precision drug delivery devices. The main products such as mechanical injection pens reflect strong technical strength.
In addition to precision drug delivery devices, Huayang Intelligent has also carried out a diversified layout based on micro motors and transmission technologies in home, medical and industrial water affairs, which is expected to become another business growth point of the company in the future. At the same time, Huayang Intelligent keeps up with market demand, further improves customer stickiness with excellent R&D capabilities, and also expands the user base of the company's products, which helps to improve profitability.