Source: China Textile
Recently, Yoantion Industrial Inc., Ltd., one of the leading companies in the domestic textile machinery sector, disclosed its 2022 annual report. During the reporting period, the company achieved operating revenue of 564 million RMB, a year-on-year decrease of 2.3%, and a net profit attributable to shareholders of approximately 74.24 million RMB, down 12.93%. As of the end of 2022, total assets stood at 907 million RMB, a decrease of 7.78% compared to the previous year, while net assets attributable to shareholders grew by 9.45% to 577 million RMB.
Industrial Upgrades Bring Incremental Demand, Domestic Market Share Steadily Increases
In 2022, the global economic environment fluctuated significantly, and China's textile machinery industry faced challenges under economic pressure, with revenue from major textile machinery enterprises slightly declining by 2.24%. In this context, Yoantion Industrial ensured the normal operation of its business and supply chain, timely adjusted its product strategies, actively expanded market opportunities, and maintained stable performance. The company also continued to strengthen its business foundation and enhance its market competitiveness to secure long-term stability.
On November 25, 2021, Yoantion Industrial, along with partners Huang Beiyang and Li Xiandong, established Zhejiang Yuantai Intelligent Manufacturing Co., Ltd., focused on the research, production, and sales of air and oil fume heat recovery equipment, helping the company expand its stenter machine auxiliary product market.
On August 1, 2022, the company partnered with Dixili Textile Technology (Shenzhen) Co., Ltd. to establish Tomux Liquid Ammonia Finishing Equipment (Zhejiang) Co., Ltd., positioning itself in the liquid ammonia finishing equipment sector.
On October 24, 2022, Yoantion signed an investment cooperation agreement with the Shaoxing Keqiao Economic and Technological Development Zone Management Committee to construct an intelligent factory, aiming to develop automated dyeing machines, automatic material feeding systems, and high-efficiency intelligent exhaust heat recovery systems, among other products.
On November 22, 2022, Yoantion established Basuni Intelligent Technology (Zhejiang) Co., Ltd. with partners to engage in the R&D and manufacturing of dyeing machines, enhancing its product portfolio and improving profitability.
Yoantion Industrial has cultivated a strong customer base and a good reputation over the years, leading to a steady increase in market share. In 2022, revenue from its stenter machines totaled 525 million RMB, a 6.46% year-on-year decline due to market conditions. However, revenue from stenter machine modifications increased by 436.43% to 24.66 million RMB, while sewing machine sales grew by 11.96% to 1.96 million RMB. The company also introduced new air and oil fume heat recovery equipment, generating 3.95 million RMB in revenue. With the release of new production capacity, the company's operating performance is expected to improve steadily.
Yoantion Industrial has become a supplier to well-known companies such as Shenzhou International, Yingfeng Holdings, and Yunzhongma. Its products enjoy strong brand recognition and a solid reputation in the domestic market. Yoantion's "hot air stenter machine" has been recognized as a "Zhejiang Famous Brand Product," and the company's sales have consistently increased, highlighting its brand and customer resource advantages.
In the future, as the global economy recovers, our country's economy operates steadily, residents' income and consumption capacity steadily improve, and structural optimization within the industry deepens, the overall revenue of the textile machinery industry will grow steadily. At the same time, due to the increasing quality requirements for textiles in the downstream market, the demand for mid-to-high-end textile machinery will further increase. The entire industry will enter a new development phase, characterized by a more pronounced siphoning effect from leading brands. It is believed that leading enterprises represented by Yoantion Industrial will gain more development opportunities.
Balanced Revenue Structure and Strong Innovation
Since its inception, Yoantion Industrial has focused on stenter machines as its core business while expanding into upstream and downstream textile equipment, including automatic sewing machines, high-temperature intelligent dyeing machines, and air and oil fume heat recovery systems. The company has built a diversified product portfolio, spanning stenter machines, machine modifications, sewing machines, and integrated oil fume treatment systems.
The textile machinery industry is technology-intensive, requiring high precision and reliability in both hardware and software. Yoantion's continuous innovation and ability to quickly launch new products has given it a competitive edge. In 2022, the company invested 26.19 million RMB in R&D, accounting for 4.64% of its revenue. It holds key technologies such as stenter machine control systems, automatic filtration, auto-centering technology, automatic sizing, heat recovery, and thermal field optimization.
As a national high-tech enterprise, Yoantion Industrial has developed strong R&D and design capabilities, supported by its Zhejiang Key Enterprise Research Institute and provincial-level high-tech R&D center. The company's independently developed "Y9000 Dual-Layer High-Efficiency Digital Stenter Machine" was recognized as one of the "First (Set) Products in Zhejiang Province" in 2021. Other products, such as the "Y2088 Series Hot Air Stenter Machine," have received provincial recognition and certifications for their energy-saving capabilities.
Yoantion Industrial has also received several honors, including the Zhejiang Provincial Key Enterprise Research Institute, Zhejiang Enterprise Technology Center, and the China National Stenter Machine Product Development Base, among others.
Future Outlook
Looking ahead, Yoantion Industrial will continue to be market-oriented, expanding its domestic market share while actively exploring overseas markets. The company aims to establish itself as an international player, focusing on stenter machines and related equipment, while offering after-sales service and spare parts. Yoantion also plans to strengthen its brand promotion, enhancing its visibility, brand influence, and marketing reach to become a leading company in the domestic textile machinery industry.