On October 22, SDWT Hydraulic Technology Group, a leading manufacturer of special cylinders for dump trucks and hydraulic cylinders for mechanical equipment, successfully IPO.
1. SDWT is one of China's leading suppliers of special cylinders for dump trucks and hydraulic cylinders for mechanical equipment
Founded in 1992, SDWT is a supplier of medium and high pressure cylinders integrating R&D, production, sales and service. Its main products include three series of special cylinders for dump trucks, cylinders for mechanical equipment and oil-gas springs.
The company has been rated as "provincial high-tech enterprise", "provincial innovative enterprise", "patent construction demonstration enterprise"; products have passed the "ISO/TS16949 international quality system" certification, China coal mine safety mark certification; There is one provincial enterprise technology center, one provincial demonstration engineering technology research center for special hydraulic cylinders, and one production, education and research base of Shandong University of Science and Technology.
Two types of products, special oil cylinders for dump trucks and cylinders for mechanical equipment, are mature. The special oil cylinders for dump trucks are one of the company's core products. In 2017, 2018, 2019 and January to March 2020, the sales revenue of these products accounted for the main 50.67%, 45.01%, 44.03% and 53.06% of operating income. Cylinders for mechanical equipment are another core product of the company. From 2017 to the first quarter of 2020, sales of this type of product accounted for 44.52%, 52.36%, 53.34% and 43.47% of the main business revenue respectively.
The future core product is a new product oil-air spring
Since 2015, SDWT has carried out independent research and development of oil-gas spring products, and has conducted a large number of experimental studies on the sealing structure of the oil-gas spring, the heat treatment and surface treatment of the piston rod, and the product performance. Wantong Hydraulics has successfully developed military enterprises such as Taian Aerospace Special Vehicle Co., Ltd. and China National Heavy Duty Truck Group Jinan Special Vehicle Co., Ltd., with sufficient reserve of sales orders for oil-gas spring products. Data shows that the company's oil and gas spring product demand continues to expand, and sales revenue has grown rapidly. In 2018 and 2019, they increased by 165.52% and 204.33% respectively over the same period of the previous year.
Recently, SDWT has won the Provincial Science and Technology Progress Award for its self-developed new active control oil-air spring. Since 2017, we will focus on the development of oil-gas springs as one of the three strategic products in the future, continue to introduce technical personnel, purchase advanced processing and testing equipment, and strengthen project cooperation with universities and institutes. Now we have mastered the design of oil-gas spring products And the manufacturing process, it has successfully provided supporting services to well-known domestic enterprises such as MCC Baosteel, Xugong Automobile, and began to provide multi-bridge heavy-duty transportation vehicle oil-gas springs for special vehicle R&D and production enterprises in 2019.
SDWT's top five customers accounted for 63.54%, 59.83%, 69.25% and 76.44% of sales revenue respectively. The main customers are Hongchang Special Purpose Vehicle, CIMC Shaanxi Automobile, Henan Juntong and other special purpose vehicle production and modification enterprises, and Zhengzhou Coal Mining Machinery, Yankuang Donghua, Pingyang Coal Mining Machinery and other coal mining equipment manufacturers.