On the evening of June 26, Double Ring Transmission announced that the company expected a profit of 350 million yuan to 370 million yuan in the first half of 2023, an increase of 39.48% to 47.45% over the same period last year. This is the best report card it has handed in over the years.

The performance forecast shows that the main reasons for the change in the company’s performance are: with the acceleration of the localization of robot reducer, the company’s robot precision reducer business has achieved rapid development, and sales have increased significantly compared with the same period last year; The company’s heavy truck automatic transmission gear business showed a good growth trend compared with the same period last year; The gear business of new energy vehicles has maintained steady growth; The company continues to promote internal cost reduction and efficiency improvement, independent innovation and other work, effectively improve manufacturing capacity, reduce unit costs, and promote the steady growth of the company’s performance.

Turn in the best report card of all time

Overall, the first quarter of 2022 and 2023 (the company’s robot precision reducer products) has maintained a good growth rate year-on-year and quarter-on-quarter, whether it is the absolute value of products, output, sales or overall operation and profitability, including capacity expansion.

In recent years, the new energy automobile industry has “entered” the fast lane. In the field of new energy, the double ring began to contact new energy vehicle gears in 2008, and has the first stage of mass production capacity in 14 years. Supporting customers such as the world’s leading electric vehicle manufacturing enterprises BYD, GAC Group, NIO, Xiaopeng, ideal, Huichuan, BorgWarner, etc.

As the largest application field of gear and the first driving force for the development of gear, the automotive industry plays a pivotal role in realizing the high-end of gear in China. Among them, the rise of China’s new energy vehicle market has given domestic car companies and gear companies more momentum and development space. According to statistics from the China Automobile Association, vehicle imports in 2022 fell by 6.5% year-on-year. In the field of new energy vehicles, the global cumulative sales of 10.824 million, the Chinese market nearly 7 million, the proportion increased to 63.65%, of which China’s new energy vehicle market penetration rate exceeded 25%. The incremental growth of the new energy automobile industry will continue to expand, providing a broader track for the high-quality development of Chinese gear enterprises and other auto parts enterprises.

Small gears turn the big world

Zhejiang Double Ring Transmission Machinery Co., Ltd. is a global professional gear manufacturing leader, taking “changing the pattern of self-sufficiency in the gear industry” as its responsibility, and is committed to providing high-speed, low-noise, safe and low-carbon products for the global mechanical transmission system. Founded in 1980, the company was publicly listed on the Shenzhen Stock Exchange in September 2010 (stock code: 002472), becoming the first listed company in the field of professional gear manufacturing in China.

Founded for more than 40 years, the company has always focused on the research and development, design, manufacturing and sales of the core components of mechanical transmission – gear and its components, and has cultivated the main business, strided ahead, and firmly concentric and diversified development strategy.

Under the administration of Double ring headquarters, Jiangsu Double Ring, Jiaxing Double Ring, Big chain, Chongqing Double Ring, Double ring Supply chain, Ring Zhiyun, Ring motion technology, Ring drive technology, Jiangsu Ring Europe, Ring Research transmission Research Institute and other more than 10 subsidiaries, products cover traditional passenger cars, new energy vehicles, rail transit, non-road machinery, industrial robots, industrial reducer, people’s life gear and other fields. Business all over the world, including ZF, Cummins, Caterpillar and SAIC, FAW and other well-known domestic and foreign enterprises suppliers, the world’s top 500 customer sales accounted for more than 60%, is the global gear parts manufacturing leader, China’s robot deceleration mechanism manufacturing leader and China’s high-end new energy vehicle gear manufacturing leader.

Conclusion and future

At present, China is in a crucial stage of transformation and upgrading and the replacement of old and new growth drivers. New technologies, new industries, new forms of business, new models, new products and new growth drivers are gaining momentum. Intelligent manufacturing and digital production have become important forces in optimizing economic structure, transforming power and improving quality in recent years, and their role in supporting economic stability, coordination and sustainability is growing.

In the “Made in China 2025” plan, robots and high-end CNC machine tools are listed as the ten key areas that the government needs to vigorously promote the breakthrough development, the “14th Five-Year Plan” robot industry development plan has also been completed, and the plan proposes the development of RV reducer and harmonic reducer advanced manufacturing technology and process, improve the life of the reducer, reliability, reduce noise. Achieve scale production. With the support of the national industrial policy and the rising demand of the downstream market in recent years, the market size of harmonic reducer in China has shown a continuous growth trend.