According to public information, Wandekai has been committed to the design, research and development, production and sales of plumbing equipment, and is a leading supplier of lead-free plumbing valves and accessories in China. The company has successfully mastered the advanced lead-free copper technology, the production efficiency of lead-free copper is close to that of lead-containing copper, and the batch production of lead-free copper valves and accessories has been realized.
The number of patents with obvious technical advantages ranks in the forefront of the industry.
Since its establishment, Vandekai has attached great importance to technology research and development and mastered many core technologies such as product design, manufacturing technology, testing and inspection. Through the core technology, it has built a strong competitive advantage in terms of product quality such as sealing performance, operability and accuracy, as well as production cost and efficiency, stability and consistency of product quality.
It is reported that the company has been rated as a small and medium-sized science and technology enterprise in Zhejiang Province, established a research and development center for provincial-level high-tech enterprises, owned a testing laboratory recognized by China National Accreditation Committee for Conformity Assessment, presided over or participated in the formulation of four national standards and two industry standards, undertaken five provincial-level industrial new product development projects, undertaken 1 key technological innovation projects in Zhejiang Province, and obtained 1 Zhejiang manufacturing quality certification.
From 20 19 to 202 1, the company's R&D expenses are 1, 7 1 75,400 yuan,1,9,922,700 yuan and 25,994,000 yuan respectively, showing an overall increasing trend year by year. By the end of 20021,there were 79 registered personnel in R&D and design team, and the company had more than 300 new product samples every year on average. By the end of the reporting period, the company has obtained 65,438+028 patented technologies, including 65,438+03 invention patents, and also has a number of non-patented technologies for design and manufacturing processes. The number of patents ranks in the forefront of the industry and has strong research and development capabilities.
In addition, the company's products are mainly sold to the United States, which is the country with the highest technology access threshold in the world. The company has the main qualifications to enter the North American market, including NSF, cUPC, UL, CSA, etc. After long-term business precipitation, the company has accumulated a large number of high-quality customer resources and formed significant advantages in research and development, testing and quality control.
The market prospect is broad, and the operating capacity is growing steadily.
According to RESEARCHANDMARKETS, the global market size of plumbing fittings is estimated to be $74.4 billion in 2020 and is expected to reach $99.8 billion in 2027. In 2020, the American plumbing equipment market is expected to reach $206,543.8 billion, accounting for about 27% of the global plumbing equipment market. As the second largest economy in the world, China plumbing equipment market is expected to grow rapidly with a compound annual growth rate of 7.8% from 2020 to 2027, and it is expected to reach a market scale of 2 19 billion USD by 2027, accounting for 22% of the global plumbing equipment market.
In addition, emerging market countries will show great growth potential in the future. Population growth, economic development, higher living standards and urbanization rate make emerging markets face enormous growth opportunities. With the sustained economic development and the improvement of people's living standards in Africa, India, Latin America, Southeast Asia and other regions, people's awareness of health and environmental protection is also increasing, which will effectively promote the popularization of copper pipe equipment and further increase its market capacity.
During the reporting period, the company's sales revenue increased rapidly due to the continuous improvement of market share. During the reporting period, the operating income was 565,438,000 yuan, 559,463,400 yuan and 746,366,600 yuan respectively, up by 9.22% and 333,438,900 yuan respectively.
In this IPO, Vandekai will mainly invest in the construction project of valves and hardware with an annual output of 654.38+0 million, the expansion project of valves and hardware with an annual output of 42 million (Vietnam) and the construction project of R&D center. With all the investment projects put into production, the company will continue to expand the existing product capacity, further consolidate and expand overseas markets, lay out overseas production bases, reduce export costs and improve product market competitiveness.