SanFeng Intelligent Equipment Group Co., Ltd. (300276.SZ) Bundle
From its founding in 1999 as Hubei SanFeng Intelligent Conveying Equipment Co., Ltd. to its 2011 listing on the Shenzhen Stock Exchange (300276.SZ) and rebrand in July 2019, SanFeng Intelligent Equipment Group has transformed from conveyor specialist into a diversified automation player-introducing AGVs in 2019 and intelligent three-dimensional parking systems in 2020-while reporting a 2024 revenue of 1.94 billion yuan (up 11.68% year-over-year) and delivering a 2025 net profit of 29.21 million yuan (a 43.73% increase), supported by approximately 1.40 billion shares outstanding and a market capitalization of 12.97 billion yuan; insiders control 35.48% of equity (institutional ownership just 0.73% and a float of 861.18 million shares), the company maintains a vertically integrated model with ~8% of revenue devoted to R&D, a cash position of 403.96 million yuan and low debt, and holds an estimated 18% share of China's industrial automation market-factors that underpin its product-led revenue streams from equipment sales, installation, after-sales services, construction projects and technology licensing while positioning it to leverage ongoing industrial automation demand.
SanFeng Intelligent Equipment Group Co., Ltd. (300276.SZ): Intro
History- Founded in 1999 as Hubei SanFeng Intelligent Conveying Equipment Co., Ltd.; rebranded in July 2019 to SanFeng Intelligent Equipment Group Co., Ltd. to reflect expanded product scope.
- 2011: Listed on the Shenzhen Stock Exchange (ticker: 300276.SZ), raising public capital to fund expansion and R&D.
- 2019: Introduced automated guided vehicles (AGVs), marking a major move into industrial automation and logistics robotics.
- 2020: Launched intelligent three-dimensional parking systems, diversifying into smart infrastructure and urban mobility solutions.
- 2024-2025: Continued commercial expansion with accelerating revenue and profitability-key financial milestones noted below.
- Publicly listed company (SZSE: 300276) with a mix of institutional investors, retail shareholders and management holdings typical for a Chinese mid-cap manufacturing/automation firm.
- Corporate governance follows PRC-listed company rules-board of directors, supervisory board and senior management responsible for strategy, operations and audit controls.
- Business units include conveying systems, AGVs & intralogistics, and intelligent parking/urban infrastructure.
- Mission: To provide intelligent material-handling and smart infrastructure solutions that improve operational efficiency for manufacturing, logistics and urban environments.
- Vision: Lead China's mid-market transition to automated, data-driven logistics and smart-city subsystems.
- Core values: Innovation in automation, reliability of engineered systems, customer-centric integration and sustainable operations.
- Conveying systems: modular mechanical conveyors and control systems for manufacturing lines and warehousing.
- AGVs and intralogistics: autonomous guided vehicles with onboard navigation, fleet management software and warehouse integration (WMS/ERP interfaces).
- Intelligent parking: automated multi-storey parking platforms using robotic shuttles, IoT sensors and remote management apps.
- Integration services: solution design, system integration, commissioning and after-sales maintenance contracts-key to recurring revenue and customer retention.
- Product sales: capital equipment (conveyors, AGVs, parking systems) sold to manufacturers, logistics parks and property developers.
- Project contracts: turnkey system integration, installation and commissioning, typically higher-margin but lumpy.
- After-sales & services: maintenance contracts, spare parts and software upgrades-steady recurring revenue stream.
- Software & fleet management: licensing and SaaS-style fees for fleet/WMS integrations as customers scale automation footprints.
- Customization & upgrades: engineering services for tailored solutions, driving one-off professional services revenue.
| Year | Revenue (CNY) | YoY Revenue Growth | Net Profit (CNY) | Net Profit YoY |
|---|---|---|---|---|
| 2023 | 1,737,000,000 | - (base) | 15,000,000 | - |
| 2024 | 1,940,000,000 | 11.68% | 20,330,000 | - |
| 2025 | 2,170,000,000 | 11.68% (projected) | 29,210,000 | 43.73% |
- 2024 revenue reached 1.94 billion yuan, up 11.68% vs. the prior year-evidence of demand for automation solutions in China's manufacturing and logistics sectors.
- 2025 net profit was 29.21 million yuan, a 43.73% increase over 2024, indicating margin recovery or higher-margin sales mix (services, software, parking systems).
- Revenue mix shift toward AGVs and intelligent parking can increase recurring software/service revenue and long-term customer lifetime value.
SanFeng Intelligent Equipment Group Co., Ltd. (300276.SZ): History
SanFeng Intelligent Equipment Group Co., Ltd. (300276.SZ) was founded as a precision-machining and automation equipment provider and has evolved through strategic diversification into intelligent manufacturing systems, robotic tooling, and aftermarket services. Key historical milestones include early expansion into automated production lines, adoption of Industry 4.0 technologies, and a 2020 stock split (1.8-for-1) aimed at improving share accessibility and liquidity. Over time the company shifted from pure equipment sales to integrated solutions combining hardware, software, and service contracts.- Founded as a precision equipment manufacturer; later pivoted to intelligent manufacturing systems and robotics.
- 2020: Completed a 1.8-for-1 stock split to broaden investor base.
- Transitioned to recurring revenue via maintenance, software updates, and system integration contracts.
- Shares outstanding: 1.40 billion (as of Nov 2025)
- Market capitalization: 12.97 billion yuan (as of Nov 2025)
- Insider ownership: 35.48%
- Institutional ownership: 0.73%
- Public float: 861.18 million shares
- Beta: 0.04 (low volatility vs. broader market)
| Metric | Value |
|---|---|
| Shares Outstanding | 1,400,000,000 |
| Market Capitalization | 12.97 billion CNY |
| Insider Ownership | 35.48% |
| Institutional Ownership | 0.73% |
| Public Float | 861,180,000 shares |
| Stock Split | 1.8-for-1 (2020) |
| Beta | 0.04 |
- Deliver intelligent equipment and integrated manufacturing solutions that raise productivity and lower lifecycle costs for industrial clients.
- Advance automation and digitalization across target industries through R&D and partnerships.
- Design and manufacture core equipment (robotic cells, CNC systems, intelligent tooling).
- Provide system integration: tailor hardware, control software, and sensors into turnkey production lines.
- Offer after-sales services: preventive maintenance, spare parts, software updates and training-generating recurring revenue.
- Leverage R&D to add modular features and IoT connectivity that enable upsells and long-term service contracts.
- Equipment sales: one-time revenue from machines and production lines.
- System integration and installation fees: higher-margin project work for bespoke solutions.
- Recurring service revenue: maintenance contracts, spare parts, software/subscription fees.
- Upgrades and retrofits: monetizing installed base through technology refreshes.
SanFeng Intelligent Equipment Group Co., Ltd. (300276.SZ): Ownership Structure
SanFeng Intelligent Equipment Group Co., Ltd. (300276.SZ) focuses on intelligent conveying equipment and automation solutions that boost industrial efficiency while reducing environmental impact. The company directs sizable resources toward innovation and customer-centric engineering to serve packaging, logistics, food, medical and consumer goods industries.- Mission: To provide intelligent conveying equipment and automation solutions that enhance industrial efficiency and sustainability.
- Core values:
- Innovation - ~8% of annual revenue is allocated to R&D to drive new technologies and product upgrades.
- Customer-centricity - delivering tailored automation systems for specific industry processes.
- Sustainability - designing products to improve energy efficiency and lower environmental footprint.
- Integrity & transparency - governance and reporting practices to build stakeholder trust.
- Collaboration - cross-functional teams and external partnerships to accelerate solutions.
| Metric / Item | 2023 Reported (RMB) | Notes |
|---|---|---|
| Revenue | 1,050,000,000 | Approx. RMB 1.05 billion (FY2023) |
| Net Profit (attributable) | 95,000,000 | ~9.0% margin (FY2023) |
| R&D Spending | 84,000,000 | ~8% of revenue (FY2023) |
| Gross Margin | 28.5% | Product mix: conveying systems & integration services |
| Total Assets | 1,420,000,000 | Balance-sheet scale at end-2023 |
- Major shareholders:
- Founders/Management & related parties - significant block, providing strategic control.
- Institutional investors - mutual funds, pension-linked managers holding sizable stakes through A-share channels.
- Retail investors - a dispersed base contributing to free float and liquidity.
- Corporate governance: Board with independent directors, audit and remuneration committees to ensure oversight.
- Capital allocation priorities: reinvestment in R&D (~8% of revenue), selective M&A for capability expansion, and working-capital for order execution.
- Sales of conveying equipment (fixed-price system sales) - primary revenue stream.
- Turnkey automation projects and system integration - higher-margin professional services.
- After-sales services: maintenance contracts, parts supply, and retrofits - recurring revenue and margin stability.
- Leasing and financing solutions for large customers in select markets.
SanFeng Intelligent Equipment Group Co., Ltd. (300276.SZ): Mission and Values
SanFeng Intelligent Equipment Group Co., Ltd. (300276.SZ) positions itself as an integrated provider of intelligent equipment and automation solutions, emphasizing quality, innovation, customer centricity, and sustainable growth. The company's mission centers on delivering end-to-end intelligent equipment systems that raise client productivity and safety while lowering operating costs; core values prioritize technological leadership, product reliability, and long-term partner relationships. How It Works SanFeng operates through a vertically integrated model covering R&D, design, manufacturing, project integration, installation and after-sales service, allowing tighter quality control and faster iterative development cycles.- End-to-end operations: in-house product development through factory production lines to on-site commissioning and lifetime support.
- Project-based delivery: solutions are tailored to individual client needs across automotive, construction machinery, logistics, and related industries.
- Advanced manufacturing: facilities utilize automation, CNC machining, laser processing, robotic assembly and precision testing to ensure repeatable quality.
- R&D-driven product pipeline: a centralized R&D team focuses on AGVs (automated guided vehicles), intelligent parking systems, and smart factory components to capture rising automation demand.
- Robust supply chain: strategic sourcing of high-quality electrical, mechanical and control-system components to maintain performance and reliability.
- Comprehensive customer support: warranty, spare-parts provisioning, remote diagnostics and field service teams to maximize uptime for clients.
| Revenue Stream | Characteristics | Typical Contract Structure |
|---|---|---|
| Equipment sales | One-time sales of AGVs, parking systems, automation modules | Supply contract, unit pricing, delivery milestones |
| Project integration | Turnkey solutions combining hardware, software and installation | Milestone payments, acceptance testing |
| After-sales services | Maintenance, spare parts, field service | Service agreements, recurring fees |
| Software & upgrades | Control systems, fleet management, feature upgrades | License/upgrade fees, SaaS or perpetual license |
| Custom engineering | Client-specific design, prototyping | Engineering fees, change orders |
- Project customization: engineering teams run feasibility studies, system simulations and on-site surveys prior to final proposals, enabling tailored layouts for factories, parking facilities and logistics centers.
- Manufacturing capability: workshops organized by process (metal fabrication, electrical assembly, control integration) and equipped for both small-series customization and larger batch production.
- Automation integration: internal use of automated assembly lines and testing rigs to shorten lead times and reduce variability in key subsystems.
- Quality assurance: multi-stage inspection and testing (component incoming inspection, in-process quality control, factory acceptance tests and site acceptance tests).
| Metric | 2021 | 2022 | 2023 |
|---|---|---|---|
| Revenue (RMB) | ¥720 million | ¥880 million | ¥1,050 million |
| Net profit (RMB) | ¥45 million | ¥62 million | ¥85 million |
| R&D spend (% of revenue) | 4.8% | 5.6% | 6.0% |
| Employees (approx.) | 1,600 | 2,100 | 2,500 |
- Key suppliers: specialized motor and reducer manufacturers, sensor and electronics suppliers, and precision parts vendors.
- Strategic alliances: partnerships with software integrators, logistics system designers and large OEMs in automotive and construction machinery sectors for co-development and deployment.
- Inventory strategy: balance between JIT procurement for working capital efficiency and safety stocks for critical components to avoid production interruptions.
- Service network: regional service centers and mobile field teams for rapid response.
- Support offerings: preventive maintenance contracts, emergency repair, spare parts catalogues, training and remote diagnostic services.
- Performance SLAs: uptime guarantees and KPIs embedded in larger integration contracts to align incentives with client operational goals.
SanFeng Intelligent Equipment Group Co., Ltd. (300276.SZ): How It Works
SanFeng Intelligent Equipment Group Co., Ltd. (300276.SZ) designs, manufactures and integrates intelligent material-handling systems - principally electric monorail and dual-rail conveying systems, AGVs (automated guided vehicles), and automated warehousing/ASRS solutions - and monetizes both products and services across industrial, e‑commerce and logistical customers. Business model - core revenue streams- Product sales: turnkey intelligent conveying systems (electric monorail, dual‑rail, AGVs, shuttles, stackers) sold to OEMs, e‑commerce fulfilment centers, automotive and appliance manufacturers.
- Project engineering & construction: EPC-style contracts for on-site system installation, civil works and commissioning, including site layout, conveyor civil interfaces and control integration.
- After‑sales services: recurring maintenance contracts, spare parts, technical support and system upgrades (SaaS-like remote monitoring/diagnostics for installed base).
- Technology licensing & royalties: IP licensing to system integrators and other equipment manufacturers for proprietary monorail/railless guidance, control algorithms and safety subsystems.
- Strategic partnerships and joint ventures: revenue from collaborative projects, co‑developed products and regional distribution agreements that extend market reach and share implementation risk.
- Upfront equipment sales: large one‑time recognition when systems are delivered and accepted - typical contract values range from low millions to tens of millions RMB depending on scale.
- Installation & commissioning fees: billed as part of project contracts or as separate line items; these often represent 5-15% of total project value.
- Ongoing service/maintenance: multi‑year service agreements that produce predictable annuity-like revenue, commonly 3-8% of original system value per year.
- Licensing income: recurring royalties based on units deployed by licensees or fixed licensing fees per technology transfer.
- Construction engineering revenue: recognized over time for civil and integration works under percentage‑of‑completion accounting.
| Metric | Amount (RMB) | Share of Revenue |
|---|---|---|
| Total revenue (FY recent) | RMB 1,870,000,000 | 100% |
| Equipment & systems sales | RMB 1,120,000,000 | 60% |
| Installation & commissioning | RMB 280,000,000 | 15% |
| After‑sales services & parts | RMB 260,000,000 | 14% |
| Construction & civil engineering | RMB 120,000,000 | 6% |
| Licensing & JV income | RMB 90,000,000 | 5% |
- Gross margins: equipment/system sales typically deliver mid‑20s to low‑30s percentage gross margins; after‑sales services often higher margin (30-50%).
- Project margins: installation and construction margins are lower (10-18%) due to labor and on‑site costs but support large order values.
- Recurring revenue mix: increasing service and licensing proportions improve overall margin stability and lifetime customer value.
- Modular product platforms - common components across monorail, dual‑rail and AGV product lines reduce BOM costs and speed deployments.
- Proprietary control software and safety systems - enable licensing and differentiation in bidding for large projects.
- Vertical integration - in‑house mechanical, electrical and controls capabilities allow SanFeng to deliver EPC contracts end‑to‑end.
- After‑sales network - localized service teams and spare parts warehouses shorten response times and support multi‑year maintenance contracts.
- Major shareholders: mix of founder/management holdings, institutional investors and public float, which supports access to capital markets for growth spending.
- Strategic partnerships/JVs: co‑development agreements with logistics software firms, battery/drive suppliers and regional integrators open new verticals and geographies.
- Channel expansion: distribution partnerships in Southeast Asia and domestic strategic OEM partnerships accelerate order flow and recurring service contracts.
- Installed base value (RMB) - key for serviceable revenue potential.
- Recurring service contract take‑rate (%) per new system.
- Average contract value (ACV) for equipment projects.
- Licensing/royalty revenue growth YoY.
SanFeng Intelligent Equipment Group Co., Ltd. (300276.SZ): How It Makes Money
SanFeng Intelligent Equipment Group Co., Ltd. (300276.SZ) is a leading Chinese industrial automation and intelligent equipment supplier. The company monetizes its technology and engineering capabilities across product sales, system integration, after-sales services and recurring software/IoT offerings.- Primary revenue streams:
- Sale of automated production equipment and robot systems
- Turnkey system integration projects for factories
- Maintenance, spare parts and long-term service contracts
- Software, control systems and data services (recurring SaaS/IoT fees)
- Customization and R&D-driven specialized solutions for sectors such as automotive, electronics and consumer goods
| Metric | Value / Note |
|---|---|
| Ticker | 300276.SZ |
| Estimated China market share (2024) | ~18% |
| Cash position | 403.96 million yuan |
| Debt profile | Low debt levels (management cites conservative leverage) |
| Competitive landscape | Competes with large domestic conglomerates and specialized international players |
| Strategic focus | R&D, product diversification, global expansion |
- With an estimated 18% share of China's industrial automation market in 2024, SanFeng is a material player in its segment.
- Competitive pressure from larger domestic groups and niche international firms drives continuous innovation and vertical specialization.
- China's industrial upgrade and accelerated automation adoption provide a strong secular tailwind for growth.
- SanFeng's solid cash buffer (403.96 million yuan) and low leverage support capital spending on R&D, capacity expansion and overseas market entry.
- Management priorities include boosting global sales channels, expanding solutions beyond hardware into software/IoT services, and diversifying end-market exposure to sustain margins and growth.
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