Cixing's revenue in 2023 exceeded 2 billion yuan

On April 12th, Cixing released its annual report for 2023, and the company realized an operating income of 2.032 billion yuan, a year-on-year increase of 6.90%. The net profit attributable to shareholders of listed companies was 114 million yuan, a year-on-year increase of 24.99%; The net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 66,893,900 yuan, a year-on-year increase of 59.84%. As of December 31, 2023, the company's total assets were 4.091 billion yuan, up 8.36% year-on-year; The net assets attributable to shareholders of listed companies were 2.957 billion yuan, a year-on-year increase of 7.52%.

In 2023, the company's main flat knitting machine business achieved sales of 29,141 sets, up 33.30% year-on-year, and achieved sales income of about 1.679 billion yuan, accounting for 82.6% of the total operating income, up 14.31% year-on-year. The company's overall market share was about 26%. In 2023, Ningbo Cixing Co., Ltd. made every effort to expand the product market and seize the market opportunity. After the early market cultivation and promotion, the equipment tends to be stable and the technology is becoming more and more perfect, and it made every effort to launch new products such as STG860 series, and knit to shape computerized flat knitting machine. In order to further strengthen the market expansion, the company brought competitive products to domestic and international exhibitions such as Jiaxing, Guangdong, Shanghai and Italy, and invited customers to participate intensively. Carry out survival of the fittest for regional agents and salesmen in China, create a good sales environment, and the market share and research and development ability of products are at the leading level in the industry.

As a leading enterprise in the industry, Cixing is mainly engaged in the research and development, production and sales of knitting machinery. It is a high-tech enterprise dedicated to improving the technical level of knitting machinery in China, promoting the development of knitting technology and upgrading the knitting industry. The company's main products are intelligent knitting machinery and equipment, which are mainly used for the production of sweaters and uppers. The company is the first batch of computerized flat knitting machine development enterprises in China. According to the different needs of customers for needle pitch, it has all kinds of computerized flat knitting machines with complete industries to meet customers' requirements for processing thick and thin needles. At the same time, the functions of the company's equipment can cover and meet different target markets. The company has been deeply involved in the flat knitting machine industry for decades, from the first domestic computerized flat knitting machine to replace the traditional hand-operated flat knitting machine, and then to the domestic computerized flat knitting machine to replace the imported one. With its leading technical advantages, excellent product quality and perfect service system, the company has accumulated a large number of high-quality customers in the industry and has a good brand image.

In 2023, the R&D system of Cixing is a complete set of innovation system based on the integration of domestic and international dual R&D platforms, with R&D projects as the main line, R&D strategy formulation as the starting point, technological innovation as the core, comprehensive technology application and product optimization and upgrading as the end point. The company invested 78.2317 million yuan in research and development, and there are 151 existing invention patents, 217 utility model patents, 22 design patents and 210 software copyrights. The research and development advantages with technological innovation as the core make the company's new technologies emerge continuously, and the technical status of the industry continues to improve.

Cixing will continue to take "weaving a better future" as its corporate mission and "enterprise sustainable management, building a happy home and becoming an industry model" as its corporate vision, and devote itself to the research of intelligent knitting machine industry. It will continue to increase the research reserves of new technologies, continue to develop and improve strategic new products and technologies, accelerate the digital and information transformation of operations, better serve enterprise production, prepare for industrial upgrading, and realize the steady development of enterprises and industries. Make due contributions to achieving the goal of steady growth of the national economy and opening up a new situation of building a modern textile industrial system with high quality.