Deep Insight | Forward-Looking Strategy | Forging Ahead
Solid Growth and Strength of Wayzim Highlighted in 2023 Semi-Annual Financial Statement
Another Record High
Recently, Wayzim Technology Co., Ltd. (hereinafter referred to as Wayzim, SHSE: 688211) disclosed its 2023 Semi-annual Financial Statement.
Wayzim has a deep insight into the industry development trend and a forward-looking product strategy, continuously making breakthroughs in core technologies. In the first half of 2023, its business performance reached a new high. According to the statement, Wayzim achieved a total operating revenue of CNY 784 million (USD 108.5 million[1] ) in the first half of 2023, a year-on-year increase of 14.09%, and an operating profit of CNY 69.3184 million (USD 9.59 million), a year-on-year increase of 77.76%.
Extraordinary Strength
Innovative R& D Enabling Powerful Development and Remarkable Achievements
As a leading comprehensive solution provider in the field of intelligent logistics sorting systems in China, Wayzim is one of the few companies globally that have integrated capabilities in the research, design, and production of intelligent logistics equipment systems and their key components. According to a report by China Insights Consultancy (CIC), Wayzim, based on its operating revenue, ranked first in 2022 among the top providers of intelligent logistics equipment solutions for express delivery in China[2].
Adhering to the spirit of "Technology Innovation. Quality Craftsmanship", Wayzim is committed to strengthening the construction of high-quality and high-level talent teams for long-term development. It has obtained critical technologies of key components through independent research and development, persistently enhancing product performance and expanding product portfolio. Wayzim's products cover stand-alone intelligent logistics equipment and key components. The stand-alone equipment ranges from cross belt sorters, narrow belt sorters, 2D bulk flow singulators, dynamic DWS systems, and automated infeed equipment, while key components encompass industrial sensors (mainly intelligent vision devices) and power devices such as servos, drives, and motorized rollers.
Meanwhile, Wayzim's customers cover major Chinese express delivery, logistics, and e-commerce companies such as ZTO Express, SF Express, J&T Express, China Post, JD.com, STO Express, Yunda Express, and Deppon. As of the end of June 2023, the total contract amount of its open orders reached CNY 2.679 billion (USD 370.75 million).
Machine Vision System Strategy
Breakthroughs in the Intelligent Logistics Industry
Currently, as developing industrial intelligence is a consensus and key strategy in the manufacturing industries worldwide, intelligent logistics and intelligent manufacturing have become the focus of accelerating high-quality development in China. This trend indicates that the logistics equipment industry is transitioning from the automation era to the intelligent era with the rapid development of innovative technologies such as industrial Internet, AI, big data, and cloud computing. A report by CIC stated that the market size of China's intelligent logistics equipment is CNY 82.99 billion (USD 11.49 billion) in 2022, and is expected to reach CNY 192.02 billion (USD 26.57 billion) in 2027, with a compound annual growth rate of 18.3% over the next five years[3].
The business philosophy of Wayzim, which focuses on R&D and market demand, perfectly aligns with the industry trend. Relying on its research and manufacturing capabilities, Wayzim integrates various functional modules including storage, transportation, sorting, and sensors, and combines hardware equipment systems with software systems such as Warehouse Control System (WCS) and Warehouse Management System (WMS). So far, it has made breakthrough progress in key technologies with perfect development prospects in intelligent logistics and manufacturing.
As machine vision becomes increasingly integrated into the automation of intelligent logistics, deep learning algorithms have replaced traditional algorithms in many application scenarios. Wayzim has developed a series of algorithms for the application of machine vision in the intelligent logistics industry. Based on these algorithms, it independently developed systems including an adaptive focusing high-speed barcode scanning system based on an 8K line-scan image sensor, a 3D volume measurement system based on diffractive optical elements, and an automated 3D bulk flow recognition system based on deep learning. These systems use image vision detection technology to perform real-time defect detection for the lithium-ion battery separators operating at a high speed. The systems can also display images of defects and specific information on the type, size, and location of the defects, with support for defect classification.
Robust Talent System
High-Intensity R&D Investment for High-Quality Development
Driven by technology, Wayzim has continuously increased its R&D investment based on rapid business expansion since its establishment. According to its financial statement, the proportion of R&D investment to its revenue was 12.08%, and the R&D expenses increased by 44.89% compared with the same period of the previous year. Attracting a large number of excellent R&D talents, Wayzim provides customers with higher efficiency and lower cost through R&D innovation, thus gaining a strong impetus for its sustained high-quality development. Until the end of June 2023, Wayzim has 1655 employees, including 196 employees with a master's degree or above, accounting for 11.84% of total employees, and 572 R&D personnel, accounting for 34.56% of total employees. Furthermore, the total number of intellectual property rights has exceeded 149.
Green Development
Deepening ESG Management for Sustainable Development
In response to the theme of green development and China's Carbon Peak and Neutrality goal, to fulfill its social responsibility, Wayzim has carried out work related to environmental, social, and corporate governance (ESG), strictly controlling the major pollutants generated in the production process, including wastewater, exhaust gas, noise, and solid waste.
Meanwhile, with the concept of sustainability, to continuously promote the transformation of global corporate sustainable development, Wayzim has officially joined the United Nations Global Compact. Under the framework and guidance of the organization, Wayzim will continue to improve its sustainable development capabilities in multiple levels and aspects in the future, including product technology development, production capacity expansion, brand business development, and human resources integration. It will steadfastly fulfill its social responsibilities and actively explore an ecologically-oriented high-quality development path guided by green development.
Corporate Vision
World-Leading Intelligent Logistics Equipment and Intelligent Manufacturing Company
Going forward, Wayzim will further explore the vast market demand in the express delivery, e-commerce, civil aviation, food, medicine, home furnishings, and manufacturing industries. Moreover, it will focus on frontier technologies such as conveying and sorting, intelligent warehousing, intelligent perception, and motion control, increase the investment in technologies, R&D, and talents, and strive to become a world-leading intelligent logistics equipment and intelligent manufacturing company.
*Data source
[1] Figures stated in USD are based on USD 1 to CNY 7.2258
[2] [3] China Insights Consultancy: Innovation Breakthroughs, Leading the Future – Intelligent Logistics Equipment Market Enters a New Era
https://mp.weixin.qq.com/s/6wvB_HyOyH0vkU-Cu1Xtdg
