Misread of beiren in Jiangsu: leading integration technology, restricted by downstream

As one of the first batch of enterprises to be accepted on the science and technology innovation board, Jiangsu beiren’s road to listing is as long as eight months, which is twice the average time from audit to listing of enterprises on the science and technology innovation board. How much “technology content” can the commercial essence of system integrators embody? It has become a key issue that the northerners of Jiangsu have to explain repeatedly to the exchange and public opinion. < / P > < p > the huge scale of China’s local system integration enterprises is even worse: is there any difference between high and low in scientific and technological innovation? For the listed northerners in Jiangsu, the stock price is under pressure. Can system integrators get rid of the growth trap with the help of the capital market? < / P > < p > in the first submission of the declaration, beiren of Jiangsu Province interpreted its industrial robot industry chain downstream as: industrial robot system integration based on industry demand, responsible for the large-scale application of industrial robot, not involving the research and development and manufacturing of robot ontology. < / P > < p > this caused a public outcry, and some media commented that “robot enterprises do not produce robots” and “second dealers”, which made the company difficult to justify itself. < / P > < p > first of all, although it is in the downstream of the industry, Jiangsu beiren is mainly engaged in welding and other integration fields, which have higher requirements for technical strength and R & D capability, and the number of Enterprises above scale is also small. Secondly, its “br-wh01 flexible robot welding production line for automobile wheel housing” and “intelligent welding equipment and technology for launch vehicle tank” have been identified as domestic leading level and international advanced level by relevant organizations. From the perspective of business distribution, the total business supported by these two core technologies has indeed accounted for more and more revenue in beiren, Jiangsu Province. < / P > < p > it is worth noting that one of the major disadvantages of Jiangsu beiren as a system integrator is: in order to achieve the successful application of technology research and development in specific projects, Jiangsu beiren has carried out a large number of personalized research on production projects, and this part of investment is reflected in the project cost; only the R & D investment focusing on product common technology and forward-looking technology is reflected in the financial data 3% – 4% of revenue. < / P > < p > in terms of function, system integrators not only purchase, distribute or assemble robots locally, but also need to carry out customized transformation according to different customer needs and operation scenarios. Assuming that the ontology manufacturer constantly changes the design of ontology to meet the decentralized market demand, it is not only technically difficult to achieve, but also uneconomical in benefit. < / P > < p > therefore, system integrators act as a bridge between robot ontology and customer needs: they enter a specific industrial scene and only meet a specific demand. Most of the business of Jiangsu beiren is in the production scene of automobile parts, and focuses on the welding field of automobile parts, which is a good example of system integration. < p > < p > according to IFR forecast, the domestic ontology sales in China will be 34.205 billion yuan in 2019, while the market scale of system integration will reach 51.307 billion yuan. Even for head ontology manufacturers, the revenue generated by system business is an important part of performance. According to ABB’s financial report, in the first three quarters of 2019, the revenue of its robot and discrete automation business was $1.376 billion, while the revenue from systems was $736 million. < / P > < p > however, in order to get a share in the huge market, integrators are trapped in the project system, and technology migration is more difficult. As the business model of system integration project system aims to meet the customized needs of customers, the technology that can accumulate and migrate applications is extremely limited, which is the reason why Jiangsu beiren has included the customized R & D investment into the project cost. According to the law of technological evolution, from system integration to local R & D is the only way for manufacturing industry to develop from easy to difficult and from downstream to upstream. As for the robot industry, it is an effective way for Chinese manufacturing enterprises to catch up with their Western counterparts from insight into downstream client demand to upstream robot ontology manufacturing. < / P > < p > although the technology content of ontology R & D is higher, it has also expanded rapidly under the promotion of capital, but the fluctuation of downstream market and the backwardness of technology make Chinese ontology manufacturers at a competitive disadvantage in the competition: < / P > < p > in 2018, the automobile and 3C industries are cold, which makes the upstream industrial robot manufacturers start to “catch a cold”. According to the data of the National Bureau of statistics, in September 2018, China’s robot production slowed down from a slowdown to a total decline, with a decline rate of 16.4%. Both the four major international families and domestic manufacturers were affected. < / P > < p > compared with ontology manufacturers, integrators with small R & D investment and self blood supply in business are much better off. The author once interviewed the capital that invested over 100 million yuan in an integrator in the second half of this year, and its staff analyzed the advantages of the integrator from many angles: < / P > < p > first of all, the technology of industrial robot ontology is difficult, and the market and financing scale of domestic ontology, in his opinion, are not enough to support the polishing of products, and its small production and sales volume is also difficult to attract large integrators. Secondly, integrators are more closely connected with the industry, better understand the needs of customers, and be able to master the channels of customers. In addition, the cold financing environment also forces investment institutions to prefer integrators who can generate blood and have stable business and profits. < / P > < p > after the successful listing of science and technology innovation board, most of the funds raised will be invested in R & D, which will further improve the market competitiveness of Jiangsu beiren, so as to consolidate the virtuous circle of R & D, business and profit. In fact, the growth limit of Jiangsu beiren does not lie in its status as an integrator, but lies in the ceiling of its industry. In the four rounds of inquiries, Jiangsu beiren listed several groups of enterprises for business comparison and analysis, and the sample range changed greatly. The reasons behind it are thought-provoking: < / P > < p > according to IFR’s prediction, the market scale of China’s industrial robot system integration industry in 2019 is about 1, Among them, the system integration scale of automobile industry is about 57.5 billion yuan; considering that about 60% of industrial robots are used in welding field, the market scale of system integration in automobile welding field is about 35 billion yuan. < / P > < p > however, in the first inquiry, among the “comparable companies of welding robot system integration in automobile industry” identified by Jiangsu beiren, the main business of ABB engineering is not focused on the field of automobile parts; the business of Tianjin Fuzhen, Shanghai Guanzhi, demeke and xinyanlong are all automobile welding production lines; the main business of Kelai electromechanical and Tianyong intelligent are automobile parts Assembly line. < / P > < p > with the exception of Anchuan Shougang, other “comparable enterprises” basically do not form a competitive relationship with Jiangsu beiren in terms of business, so they are not comparable. < p > < p > in fact, what beiren of Jiangsu Province is in is the subdivision track of parts welding, which is one of the 35 billion yuan cake. In the second inquiry, Jiangsu North talent listed companies such as Ruisong technology, China design intelligence, and sylte. By comparison, these enterprises are generally small in scale. At present, there is no public data about the proportion of welding robots in the whole automobile track market, and how the data can be integrated in the automobile welding field. < / P > < p > from the perspective of business and revenue, the related technologies involved in the “automobile wheel cover flexible robot welding mountain production line” have brought about high-speed revenue growth for the company during the reporting period. On the one hand, it can prove that the technology of Jiangsu beiren has strong competitiveness in the track, but on the other hand, it is difficult to cover up the fact that the company’s revenue is highly dependent on the auto parts industry. However, compared with the auto industry, which has continued to decline in both production and sales, China’s auto parts industry has not been significantly affected. According to the Research Institute of prospective industries, the sales volume of China’s auto parts industry exceeded 4 trillion yuan in 2018, with a year-on-year growth of 7.1%. The stability and prosperity of the downstream industry is undoubtedly the gospel of the northerners of Jiangsu Province. As an indispensable part of the downstream industry chain, industrial robot system integration business has high commercial value and technical content. As the head player of auto parts welding segment, Jiangsu beiren has proved its strength with its technology application and revenue growth. However, for Jiangsu beiren, the main pressure comes from the ceiling of the track. The only way to get rid of the constraints of downstream industries is to rely on the huge demand generated by domestic industrial upgrading and continue to invest in R & D with high intensity, whether it is to tackle the key problems of robot body vertically or widen the track horizontally. Xiaomi new machine real machine exposure center dig hole screen design or high color thousand yuan machine