On the evening of October 29, China's special alloy high-precision forgings, magnesium alloy ring forgings manufacturer,
WXPK Precision Technology Group, a leading ring forging enterprise, released its Q3 financial report. The report shows that the operating income in the first three quarters was 1.230 billion yuan, a year-on-year increase of 12.79%.
Ring forging core enterprise business oriented to multiple fields
As one of the few companies in China that can provide supporting special alloy precision ring forging products for high-end equipment such as aero engines, aerospace launch vehicles and missiles, satellites, gas turbines, etc., WXPK has a forging process, heat treatment process, performance testing, etc. Complete forging manufacturing process, with the ability to undertake various types of businesses such as cross-industry, multiple specifications, large, medium and small batches. It has successively undertaken scientific and technological and industrialization projects such as the Industrial Strong Foundation Project of the Ministry of Industry and Information Technology, the supporting scientific research of military products of the Bureau of Science and Industry, and the special project of large aircraft materials.
Up to now, WXPK products have entered the supply chain system of leading domestic companies in various fields such as China Aviation Development Group, Aerospace Science and Technology Group, Aerospace Science and Industry Group, Aviation Industry Group, Shanghai Electric, China Shipbuilding Industry Corporation, and China Shipbuilding Corporation. , And has passed the supply chain system certification of international high-end equipment manufacturers such as British Rolls-Royce, Japan's Mitsubishi Electric, Germany's Siemens and other international high-end equipment manufacturers, and has formed a solid business relationship with many large-scale high-quality customers at home and abroad.
The company's main business has continued to increase in volume in recent years, with a compound annual growth rate of operating income and net profit of +37.56%/+76.87%.
Demand for military and civil aviation is accelerating, and the upstream market is expected to expand rapidly
In 2019, the net operating cash flow of the military industry segment has increased by about 90%, which is an important indicator of the industry's boom in the expansion period. In terms of military aviation, the current world situation has put forward more urgent requirements for national defense, and leapfrogging weapons represented by aircraft are expected to achieve increased deployment. The company has mastered a number of core technologies such as integral precision rolling technology for special-shaped cross-section rings and super large-diameter ring rolling technology, and the company’s products cover multiple types of aero engines in service and in the research stage; in addition, the company has now entered The supply chain system of China Aviation Development Group, Aviation Industry Group and its subsidiaries has certain first-mover advantages.
For civil aviation, according to the Boeing Company's "2019-2038 Civil Aviation Market Outlook" report, the number of new domestic civil aviation aircraft deliveries in 2019-2038 is 8,090, and the estimated delivery value is US$1.3 trillion, equivalent to approximately 9 trillion yuan. , The market value of hyperscale should not be underestimated. In such an industry environment, the upstream aviation supporting industry represented by the company is expected to achieve rapid growth. In addition, the company has passed the British Rolls-Royce global supply chain system certification, and the company's products may further penetrate the international civil aviation field and be applied to more foreign models.
The company's missile forging products are mainly used in missile engine casings, missile shells, annular connectors and loading rings, and are expected to achieve rapid volume increase with the high boom cycle of the missile industry chain.
It is conceivable that with the accelerated development of China’s military industry, WXPK will apply supporting special alloy precision ring forgings to aviation, aerospace, shipbuilding, electric power, petrochemical and other types of machinery and other industries. The prospects are huge and the future It is worth looking forward to.