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Data disassembly of 35 domestic instrument manufacturers:which is more important in domestic and foreign markets?

For most scientific instrument enterprises, localization is the cornerstone of their survival and development. Rooted in the home market, enterprises are expected to pursue the maximization of profits, market share and brand influence, so that all strategic planning and outward expansion can be supported.

However, at the same time, the overseas market is also a”must compete place” for enterprises. In previous years, Pittcon, JASIS, analytica and other overseas instrument exhibitions can attract enterprises to flock to, which shows the determination of domestic manufacturers to expand overseas.

Although the COVID-19 has frustrated domestic manufacturers in the past two years, they are facing various risks and uncertainties. But in the post epidemic era, will domestic instrument manufacturers give up the overseas market? Which is more important, domestic or overseas?

With the disclosure of the 2021 financial report, the instrument information network combed the domestic and foreign revenue performance of 35 domestic listed instrument enterprises and shared it with the majority of readers.

Domestic revenue accounts for the highest proportion:Lihe technology, Wanyi technology, Hexin instrument

The 35 domestic listed instrument enterprises in the list made in this paper are mainly engaged in analytical instruments, life science instruments, environmental monitoring instruments, optical instruments, physical property testing instruments, etc., with a total revenue of more than 81.1 billion yuan in 2021.

Ranking list of domestic revenue proportion of domestic instrument manufacturers in 2021

Among the 35 domestic instrument manufacturers, 32 enterprises account for more than 50%of the domestic revenue, and more than half of the enterprises account for more than 90%. The importance of the local market for domestic instrument manufacturers is self-evident.

Among them, the domestic revenue of six enterprises, including Titan technology, Jiangsu test, science and technology, Lihe technology, Blue Shield optoelectronics, Wanyi technology and Hexin instrument, accounted for 100%. For domestic instrument manufacturers, the market at home can be said to be happy.”Eating steamed stuffed buns” must first eat well, so as to maximize the profits of the local market, which is undoubtedly the most delicious steamed stuffed buns.

The fastest growth in domestic Revenue:Yirui biology, Haier biology, Titan Technology

Judging from the revenue growth rate of the domestic market in 2021, it is”a few happy and a few sad”. The domestic revenue of Yirui biology, Haier biology, Titan technology and Tailin biology increased significantly, and the overall revenue also performed well. At the same time, the domestic growth rate of several enterprises, such as Bohui innovation, spotlight technology, pioneer environmental protection and Nanhua instruments, fell significantly, dragging down the overall performance.

Ranking list of domestic revenue growth of domestic instrument manufacturers in 2021

Yirui biology is mainly engaged in colloidal gold immunochromatographic test paper, enzyme-linked immunosorbent assay (ELISA) kit, fluorescent PCR kit, nucleic acid extraction kit and rapid detection of in vitro diagnosis (POCT) products. The domestic revenue growth in 2021 reached 229.7%, mainly due to the doubling of the size of the infectious disease detection Market, POCT has rapidly become the mainstream choice for novel coronavirus detection.

Bohui innovation had a net profit loss of 320million yuan in 2021, and the continuous”decline” led to the resignation of the chairman and a large-scale change of management. Affected by the intensified policy and market competition, the domestic revenue of several instrument enterprises listed in the environmental sector also fell significantly.

According to the enterprise,”there are still great variables in the trend of the global epidemic. The domestic economic development is facing the triple pressure of shrinking demand, supply shock and weakening expectations. At the same time, affected by a variety of adverse factors such as high raw material prices, insufficient overseas orders and transportation capacity, high logistics costs and relevant industrial policies, the profit of this year has been greatly frustrated.”

  但多数企业都表达了对国内市场的良好预期:“随着国内新冠肺炎疫情防控转为常态化,国家正在进一步加大公共卫生体系建设的力度,深化推进健康中国战略。我国体外诊断行业正迎来罕见的政策密集
‘推进期’。生物药产业快速发展,景气度持续向好。在化学分析仪器领域、环境监测设备市场、显微镜行业、电子化学品市场都迎来了广阔的国产替代契机。”

Overseas revenue accounts for the highest proportion:Yongxin optics, BGI gene, Nippon instruments

The 35 domestic listed instrument enterprises in the list made in this paper have a total revenue of more than 19.7 billion yuan in the overseas market in 2021. Among them, the overseas performance of listed instrument enterprises in the optical instruments and life sciences sectors is eye-catching.

Ranking list of overseas revenue proportion of domestic instrument manufacturers in 2021

In contrast, the overseas market has played a more strategic complementary role, with 32 enterprises accounting for less than 50%of the foreign income. Yongxin optics, BGI and Nippon instruments have sprung up, and their internationalization pace is more successful than their peers.

Yongxin optics’ overseas sales accounted for 58.34%in 2021, mainly direct sales, and its customers are mainly well-known multinational enterprises in the optical and electronic industry. BGI generated an overseas revenue of 3.882 billion yuan in 2021. It not only exported products to the sea, but also exported services in overseas markets, further opening up the recognition and utilization rate of the brand in overseas markets. Lippon instruments has set up subsidiaries in major international sales regions, introducing local professional talents, and its business covers more than 170 countries and regions overseas.

The fastest growth of overseas revenue:Phoenix Optics, Antu biology, Fuguang shares

The overseas performance of Phoenix Optics, Antu biology, Fuguang shares, Yongxin optics and other enterprises increased rapidly. In contrast, BGI and Nippon instruments, although they account for a high proportion overseas, have slowed down their growth rate; Yirui biology focuses on conquering the domestic market, while Nanhua instruments is facing a decline in both domestic and foreign revenue.

Ranking list of overseas revenue growth of domestic instrument manufacturers in 2021

After the epidemic, the global industrial chain is being reshaped, and it is more difficult for listed instrument enterprises to go to sea. However, in the face of the internal domestic market, foreign attention is also rising.

In terms of opportunities, the United States is currently the largest stock market, and emerging markets such as Africa and the Middle East deserve attention. According to customs data, in the first half of 2020, China’s exports of medical device products to countries along the”the Belt and Road” amounted to $3.841 billion, an increase of 33.31%year-on-year, which shows the great potential of emerging markets.

However, challenges always coexist with opportunities. Overseas operations may face restrictions from foreign governments in terms of trade policies and product certification, and are also vulnerable to the economic development of importing countries. Major international political events, changes in exchange rate policies and inflation rates in various countries may have an impact on the rapid development of the company’s business.

Therefore, enterprises need to pay close attention to the development of the COVID-19 and the changes in the overseas economic environment, evaluate its impact on the company’s financial situation, operating results and other aspects, and reduce the impact of overseas business fluctuations by actively improving domestic sales and accelerating the mass production and shipment of new businesses.