The Executive meeting of The State Council held on May 11 reviewed and adopted the "Action Plan for Digital Transformation of the Manufacturing industry". The conference pointed out that the digital transformation of the manufacturing industry is an important measure to promote new industrialization and build a modern industrial system.
The Executive meeting of The State Council held on May 11 reviewed and adopted the "Action Plan for Digital Transformation of the Manufacturing industry". The conference pointed out that the digital transformation of the manufacturing industry is an important measure to promote new industrialization and build a modern industrial system.
In recent years, listed companies in the manufacturing industry have continuously promoted digital transformation, upgraded service products, improved operating efficiency, reduced production costs, and improved profitability. The digital transformation of listed manufacturing companies is of great significance to promoting new industrialization and building a modern industrial system.
"At present, the digital transformation of listed manufacturing companies is entering a critical stage of deepening and strengthening, forming multidimensional support in terms of policy system, industrial practice, technological innovation, market expansion, etc., which has injected strong impetus into the cultivation of new quality productivity and new industrialization." Song Xiangqing, vice president of China Association of Business Economics and founder of Huade List, told Securities Daily.
The digital transformation has achieved remarkable results
Digitalization and intelligence are important directions for the high-quality development of manufacturing companies, and are also the focus of transformation and upgrading of listed manufacturing companies.
In recent years, the digital transformation of listed manufacturing companies has achieved remarkable results, driving the performance of related companies to improve. Zhu Kri, executive director of the China Information Association and founding director of the National Research Institute of New Economy, said in an interview with the Securities Daily reporter that, first of all, the digital transformation of listed manufacturing companies can significantly improve production efficiency and flexibility to meet personalized needs; Secondly, the application of digital technology can reduce production costs and improve profitability; Moreover, digital transformation helps enterprises innovate and promote product upgrading; Finally, digital transformation can enhance a company's brand image and market competitiveness.
According to Wind data statistics, as of May 13, there were 3,618 listed manufacturing companies in A-shares, with A total operating income of 27.9 trillion yuan in 2023, an increase of 3.22%. R&d expenditure totaled 1.2 trillion yuan, up 9.28 percent year on year.
"The R&D expenditure of listed manufacturing companies in 2023 increased by 9.28% year-on-year, reflecting the active investment of listed manufacturing companies in digital transformation." Zhu said that the production efficiency improvement, cost control optimization and product quality improvement brought about by digital transformation are directly reflected in the financial data and market performance of relevant companies.
For example, Jinpan Technology achieved operating income of 6.668 billion yuan last year, an increase of 40.5%, and realized net profit attributable to shareholders of listed companies of 505 million yuan, an increase of 78.15%. The company said that 2023 performance growth, on the one hand, thanks to the increase in operating income, on the other hand, thanks to the control of costs.
"The Company continued to promote digital transformation, and through continuous improvement of digital manufacturing capabilities, reduced unit manufacturing costs and administrative expenses, sales gross margin increased, administrative expenses as a percentage of sales decreased, and further improved net profit attributable to the owner of the parent company." Jinpan Technology said.
Digital transformation also helps enterprises to open overseas markets and enhance global competitiveness. For example, Zoomlion, an equipment manufacturing company, said that in 2023, the company's overseas market expansion has achieved remarkable results. The company continues to deepen the "end-to-end", "digital" and "localized" overseas business system, deeply promote the construction and layout of outlets, continue to improve the overseas business operation control system, continue to strengthen the overseas support system of the business unit, and accelerate the expansion and upgrading of overseas R & D and manufacturing bases. The company's sales network, service quality, brand awareness, user reputation and so on continue to improve worldwide.
