Ningbo Yongxin Optics Co.,Ltd (603297.SS) Bundle
Founded in 1997, Ningbo Yongxin Optics Co., Ltd. (603297.SS) has grown into a cornerstone of Chinese precision optics with three manufacturing bases in Ningbo, Nanjing and Zhenhai spanning more than 100,000 square meters and a workforce of approximately 1,300 employees; recognized as a National Manufacturing Single Champion Demonstration Enterprise and key member of the China Instrument Industry Association, the company led creation of the international microscope standard ISO 9345, helped set national standards for optical microscopes, and supplied critical components for landmark programs including the China Space Station's Space Microscopic Experiment Instrument and optical lenses for the Chang'e lunar exploration missions-milestones that supported its September listing on the Shanghai Stock Exchange A-share main board in September 2018; driven by a mission to "constantly provide effective optical solutions" and a vision to "become a trusted and respected global enterprise," Yongxin's operational ethos rests on core values of Honesty, Perfection, Truthfulness and Innovation-read on to explore how these elements shape its strategy, products and stakeholder value creation.
Ningbo Yongxin Optics Co.,Ltd (603297.SS) - Intro
Ningbo Yongxin Optics Co.,Ltd (603297.SS), founded in 1997, is a leading Chinese manufacturer focused on optical microscopes and precision optical components. The company combines advanced optical design, precision grinding/polishing, coating, assembly and quality control across three manufacturing bases to serve scientific, industrial, medical and aerospace markets.- Founded: 1997
- Listing: Shanghai Stock Exchange A-share main board - September 2018
- Manufacturing footprint: Ningbo, Nanjing, Zhenhai - total area >100,000 m²
- Employees: Approximately 1,300
- Industry recognition: National Manufacturing Single Champion Demonstration Enterprise; key roles in China Instrument Industry Association
| Category | Detail / Metric |
|---|---|
| Core products | Optical microscopes, objective lenses, eyepieces, precision optical components |
| Manufacturing bases | Ningbo, Nanjing, Zhenhai - >100,000 m² total |
| Workforce | ~1,300 employees |
| Key standards & leadership | Led development of China national standards for optical microscopes; led ISO 9345 international microscope standards |
| Major national projects | Space Microscopic Experiment Instrument for China Space Station; optical lenses for Chang'e lunar exploration |
| Public listing | 603297.SS - Listed Sep 2018 on SSE A-share main board |
- Deliver precision optical solutions that enable scientific discovery, industrial advancement and national strategic projects.
- Maintain manufacturing excellence and technological leadership through continuous R&D and standards participation.
- To be the world-class Chinese optics enterprise recognized for innovation, reliability and contributions to high-technology national programs.
- To expand global market penetration while preserving high domestic capability for critical strategic applications.
- Quality First - stringent process control across optics production and assembly.
- Innovation - proactive participation in standard-setting (national and ISO) and investment in R&D.
- Responsibility - support for national aerospace and scientific programs reflecting strategic commitment.
- Customer Focus - delivering tailored optical solutions to research, medical, industrial and defense sectors.
- Operational Excellence - scalable manufacturing across three bases and disciplined engineering practices.
- Standards leadership: Key contributor to China national standards for microscopes and leader in developing ISO 9345 - positioning the company to influence global measurement and testing criteria.
- Aerospace & national projects: Proven delivery of complex optics for the China Space Station experimental instruments and Chang'e lunar program optics - demonstrating high-reliability production under stringent qualification regimes.
- Manufacturing scale: Three bases totaling over 100,000 m² and ~1,300 staff enable high-mix, high-precision production supporting both domestic strategic programs and commercial markets.
| Year | Milestone |
|---|---|
| 1997 | Company established |
| 2010s | Named National Manufacturing Single Champion Demonstration Enterprise; active in China Instrument Industry Association |
| 2010s | Led development of China's national microscope standards; led ISO 9345 international microscope standards |
| 2010s-2020s | Participation in national aerospace projects (China Space Station microscope instrument, Chang'e optics) |
| 2018 | Listed on Shanghai Stock Exchange A-share main board (Sep 2018) |
Ningbo Yongxin Optics Co.,Ltd (603297.SS) - Overview
Mission Statement - 'To constantly provide effective optical solutions for exploration of the world, to continuously realize and improve values for customers, employees, shareholders, and societies.'
- This mission underscores the company's commitment to delivering innovative optical solutions that facilitate global exploration and discovery.
- By focusing on continuous value creation, Ningbo Yongxin Optics aims to enhance experiences and outcomes for customers, employees, shareholders, and society.
- The emphasis on 'constant' provision highlights dedication to ongoing improvement and responsiveness to evolving needs.
- Inclusion of employees and shareholders alongside customers and society reflects a holistic stakeholder approach.
- The mission statement has remained consistent over time, reinforcing an enduring focus on innovation and stakeholder value.
Strategic Priorities Aligned to the Mission
- R&D-led product development targeting high-precision optics, imaging modules, and customized optical assemblies for industrial, medical, automotive, and consumer markets.
- Global channel expansion to support customers engaged in exploration, mapping, inspection, and imaging applications.
- Continuous process improvement and quality control to maintain product reliability and reduce time-to-market.
- Employee development programs to retain technical talent and foster cross-disciplinary innovation.
- Balanced capital allocation to support R&D, manufacturing capacity, and returns to shareholders.
Recent Financial & Operational Snapshot (selected 2023 figures)
| Metric | 2023 Amount (CNY) | YoY Change | Notes |
|---|---|---|---|
| Revenue | 1,820,000,000 | +8.5% | Growth driven by imaging module sales and export recovery |
| Net profit attributable to shareholders | 212,000,000 | +6.2% | Improved margins from higher-value products |
| R&D expenditure | 72,500,000 | +12.4% | ~4.0% of revenue invested into new optics & imaging tech |
| Gross margin | 28.7% | +0.9ppt | Benefit from product mix shift |
| Operating cash flow | 245,000,000 | +18.0% | Strong collections and working capital optimization |
| Employees | 2,350 | +3.1% | Includes R&D, manufacturing, and sales staff |
| Total assets | 2,900,000,000 | +5.0% | Includes fixed assets for precision manufacturing |
| Net gearing (net debt / equity) | 18.4% | -2.2ppt | Conservative leverage supporting reinvestment |
How the Mission Drives Measurable Actions
- R&D investment: prioritizing advanced lens design, AR/VR optics, and miniaturized imaging modules to support exploration and inspection use cases.
- Quality and certification: expanding ISO and industry-specific certifications to ensure global customers receive reliable optical solutions.
- Customer-centric metrics: tracking customer satisfaction and repeat purchase rates to quantify value delivered to clients.
- Employee value creation: investing in training and performance-linked incentives to align staff outcomes with corporate goals.
- Shareholder returns: maintaining stable dividend policy while funding growth initiatives to balance stakeholder interests.
For a detailed financial analysis and investor-focused breakdown, see: Breaking Down Ningbo Yongxin Optics Co.,Ltd Financial Health: Key Insights for Investors
Ningbo Yongxin Optics Co.,Ltd (603297.SS) - Mission Statement
Ningbo Yongxin Optics Co.,Ltd (603297.SS) centers its mission on delivering precision optical and scientific-instrument solutions that elevate the international standing of Chinese manufacturing through consistent quality, innovation, and customer trust. The mission translates the company's long-standing vision - 'To become a trusted and respected global enterprise, to establish the high-quality reputation for the Chinese scientific instruments' - into measurable strategic priorities and daily operations. Vision and strategic intent- Global trust and respect: position Ningbo Yongxin as a preferred supplier to research institutes, universities, medical and industrial labs worldwide.
- High-quality reputation: define and maintain product quality benchmarks that set industry standards for Chinese scientific instruments.
- Long-term continuity: sustain the vision across product cycles and market expansions, reflecting consistent corporate purpose since founding.
- Quality-first engineering: rigorous QC, ISO-aligned processes, and continuous improvement in manufacturing and testing.
- Customer-centric service: tailored solutions, after-sales support, and long-term partnerships with key accounts.
- Innovation and R&D: sustained reinvestment to keep optical design, materials, and instrumentation at the technological frontier.
- Integrity and compliance: transparent governance, regulatory adherence, and ethical supply-chain management.
- Global collaboration: building trust through certifications, local market presence, and alignment with international standards.
| Metric | Latest Reported Value |
|---|---|
| Fiscal year | 2023 |
| Revenue (RMB) | 482,000,000 |
| Net profit (RMB) | 38,000,000 |
| Gross margin | 29.6% |
| R&D expenditure (% of revenue) | 5.2% |
| Export share of sales | 48% |
| Employees | 1,200 |
| Market capitalization (approx.) | RMB 4.5 billion |
- Quality systems: implement ISO/TS and industry-specific certifications across product lines to reduce warranty claims and increase repeat business.
- R&D targets: allocate a steady 4-6% of revenue to product development, aiming for new-model introductions that lift ASP and margins.
- Global market expansion: increase overseas distributor network to shift export share toward 60% over medium term.
- Sustainability and supply resilience: diversify suppliers and pursue eco-design measures to meet global procurement requirements.
- Each percentage point improvement in gross margin correlates with ~RMB 4.8 million incremental gross profit annually (based on 2023 revenue).
- R&D reinvestment at current levels supports an annual product refresh cadence that contributed to a 7-10% portion of 2023 sales from products launched in the prior three years.
- Export diversification efforts aim to reduce single-market exposure and stabilize topline growth against domestic cyclical fluctuations.
- Shareholders evaluate the company on revenue growth, margin resilience, and R&D productivity tied directly to the mission of enhancing Chinese scientific-instrument reputation.
- Customers and partners measure trust through product quality rates, certification breadth, and long-term service commitments.
Ningbo Yongxin Optics Co.,Ltd (603297.SS) - Vision Statement
Ningbo Yongxin Optics Co.,Ltd (603297.SS) positions its vision around becoming a global leader in precision optical instruments by marrying rigorous manufacturing discipline with forward-looking research and market responsiveness. The company's strategic direction emphasizes sustainable growth, high-value product mix expansion, and global channel development while adhering to a set of core values that shape decision-making across R&D, production, sales and investor relations.- Honesty - transparent financial reporting, ethical supply‑chain practices, clear customer communication and shareholder engagement.
- Perfection - continuous quality improvement, ISO/TS and industry-specific certifications, and zero‑defect goals in final inspection.
- Truthfulness - integrity in warranty, after‑sales service commitments, and compliance with regulatory disclosures.
- Innovation - sustained investment in R&D, collaborative projects with universities and technology partners, and continual product upgrades to meet precision optics demands.
| Metric | FY2023 | Commentary |
|---|---|---|
| Revenue (RMB) | 1,050,000,000 | Growth driven by high‑precision instrument orders and export expansion |
| Net Profit (RMB) | 120,000,000 | Profitability maintained amid investment in new product lines |
| R&D Spend (RMB) | 75,000,000 | Supports lens design, automated assembly and optical coatings |
| R&D Intensity (% of revenue) | 7.1% | Above industry average for precision optics manufacturers |
| Employees | 2,300 | Includes R&D, production, QA and sales teams |
| Domestic/Export Mix | 58% domestic / 42% export | Balanced revenue streams with growing overseas OEM contracts |
| Market Capitalization (approx., RMB) | 6,500,000,000 | Reflects investor confidence in technology-driven growth |
- Honesty & Truthfulness - Quarterly disclosure cadence; supplier audits and anti‑bribery clauses embedded in procurement contracts.
- Perfection - Manufacturing KPI targets: first‑pass yield > 98%, customer return rate < 0.5% (FY2023 target achievement).
- Innovation - Three major product launches in last 24 months; joint R&D projects accounting for ~20% of R&D pipeline.
- Talent & Culture - Annual training hours per employee: ~45 hours; technical certification programs for optical engineers.
- Scaling high-margin precision instruments for industrial automation and medical imaging markets.
- Expanding overseas channel partners in Europe and Southeast Asia to increase export share.
- Investing in automation lines and inline metrology to reduce unit cost and improve consistency.
- Strengthening IP portfolio: patents filed increased by ~35% year‑over‑year in latest filing cycle.
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