东方精工:2024年年度报告(英文版)

Guangdong Dongfang Precision Science & Technology Co., Ltd.
Annual Report 2024
【Date of Disclosure】18 March 2025
Message to Our Shareholders
With the past year being a fruitful one, we are ready to embrace a new chapter.
2024 marked the beginning of a global economic shift and restructuring. Amid the
convergence of multiple variables, the upgrading of traditional industries driven by technological
innovation and the artificial intelligence revolution shaped the path for global development.
In this transformative era, Dongfang Precision has steadfastly implemented its “1+N”
development strategy and the path of “the principal businesses as the core + extended investment as
the support”. Through the dual engines of organic growth and external expansion, we continue to
strengthen our position in the global high-end equipment manufacturing sector while actively
advancing in technology.
At the same time, we have proactively anticipated industrial transformation trends, making
forward-looking investments in fields such as robotics, artificial intelligence, nuclear power, and
aerospace. These investments have infused cutting-edge technological innovation into Dongfang
Precision, driving us to accelerate our evolution and gradually realize the transition from intelligent
equipment manufacturing to the high-quality development of digital intelligence, as well as
achieving a comprehensive breakthrough in our “digital and intelligent” strategy.
In 2024, Dongfang Precision achieved total operating revenue of RMB4.78 billion, a net profit
of RMB500 million, and a peak market value exceeding RMB20 billion, presenting a report to all
shareholders that reflects both strategic stability and innovative breakthroughs.
Sustained Advancement of Dual Main Businesses, Strengthening the Foundation
Since its founding 29 years ago, Dongfang Precision has remained focused on the high-end
equipment manufacturing sector and continuously expanded both upstream and downstream along
the industrial chain with the empowerment of the capital markets. Through years of experience, we
have developed strategic management and deep integration capabilities in our core business sectors,
achieving efficient integration of our acquisition activities and continuously generating synergistic
effects within the industrial chain.
In the field of intelligent packaging equipment, we have built a comprehensive industrial chain
that encompasses smart corrugated packaging equipment, digital printers, and industrial Internet
industry solutions, alongside a global network for research, manufacturing, and sales. We have been
at the forefront of driving digital and intelligent transformation, continuously enhancing the
technological content and added value of our products.
In 2024, Dongfang Precision’s intelligent packaging equipment segment achieved a record
high in annual revenue. Our market share in smart corrugated packaging equipment continued to
rank first in China and second globally. The high-end brand Fosber saw its market share in North
America surpass 50%. Despite rising supply chain cost pressures and heightened global market
fluctuations, we successfully strengthened our global leadership position in intelligent packaging
machinery, becoming a trusted industry benchmark and preferred partner for international
customers.
In the field of water powersports equipment, we overcame key technological challenges in
outboard motors and officially launched and mass-produced a 300-horsepower gasoline outboard
motor that meets international advanced standards. This marks another significant achievement for
Dongfang Precision, following our successful breakthroughs in 2021 and 2023, when we disrupted
the long-standing monopoly of American and Japanese brands in the 115-horsepower and 130-
horsepower gasoline outboard motor markets.
Currently, international competition has entered deeper waters, and China is gradually
transitioning from “passive defense” to “active breakthrough”. Domestic substitution is
accelerating. In this context, companies that can break foreign technological blockades will benefit
from both industry growth and domestic substitution. As a representative of the rise of domestic
outboard motor brands, we will leverage our solid technological foundation, actively promote R&D
innovation, and systematically expand water powersports products centered around outboard
motors, injecting new vitality into the Chinese economy.
Today, Dongfang Precision thrives on the strong momentum of its two main businesses—
”intelligent packaging equipment” and “water powersports equipment”—positioning itself as an
industry leader in terms of market share, industrial chain layout, customer satisfaction, and overall
competitiveness. This is the moat that enables us to effectively respond to various unknown
challenges in an era of uncertainty. It also serves as the solid foundation for our ongoing