Domestic and foreign mainstream analytical instrument manufacturers profit model exposure

The development of society and advancement of technology have improved the quality of people's lives. As the most basic necessities of food in people's lives, their consumption also shifts from focusing on quantity to focusing on quality and safety. With the acceleration of economic globalization and the continuous improvement of people’s living standards, China’s food processing industry has achieved unprecedented development in recent years. Various new food products have emerged in an endless stream. Food safety issues have also transcended national boundaries and become global issues. Paying attention to food safety has become an important aspect of measuring the quality of life of the people, the level of social management, and the construction of the country’s legal system.

However, in recent years, the food safety problems in our country have emerged in an endless stream, and the importance of food nutrition and safety has gradually increased. As a guardian of food safety, food safety inspection equipment manufacturers have always been behind the scenes of food safety. The intensification of food safety issues has gradually surfaced in the eyes of the public. The state, industry, and all the people are paying more and more attention to the development of detection technologies and testing instruments.

Detection technology is the core symbol of a country's scientific development of food safety, and it is an important embodiment of a national food safety supervision capability. In recent years, developed countries such as Europe and the United States have invested a large amount of funds to tackle key technologies for food safety inspection. The level of detection technology has rapidly increased, and on this basis, higher and higher requirements have been put forward for residue limit standards, limiting the entry of foreign products that exceed the threshold. Therefore, the breakthrough in the detection technology has become the key to safeguarding China's food safety and responding to trade non-tariff technical barriers.

As a core force in detection technology R&D, food safety monitoring equipment manufacturers are indispensable to increase scientific research and actively break through existing detection technologies; however, from a business perspective, he is different from a public interest organization and does not need to be profitable. As a company, profitability is the fundamental purpose. Therefore, as a food safety inspection instrument manufacturing company, testing technology and corporate profitability, are the two most important considerations. This article mainly from the perspective of profitability, combined with the profitability of some typical enterprises in the domestic and foreign industries, a simple comparative analysis of the profit model of food safety testing instrument manufacturers.

The first is the analysis of the profit model of food safety testing equipment manufacturers.

According to the position of the company's business in the industry chain, the current industry of food safety inspection instrument companies mainly has the following two profit models: One is the simple product design, production and sales with technology as the core, mainly the production standard testing equipment and its supporting equipment. enterprise. At present, most domestic companies fall into this category. The other is to provide a complete solution based on customer needs, not only to provide products, but also to provide related services related to product support, including personalized product design, configuration and perfect after-sales service.

Secondly, a comparative analysis was conducted on the profit models of typical enterprises manufacturing food safety testing instruments.

From an international perspective, the leading international food safety testing equipment manufacturers can not only provide advanced testing equipment, but also provide complete solutions including thoughtful pre-sales and after-sales services. The source of their profits is also mainly from the "products." And the "service" two major components. Take Agilent and Thermo Fisher as an example: In 2011, Agilent’s gross profit composition accounted for 14.74% of service items; Thermo Fisher’s service accounted for 13.12% of the total gross profit of the company.

In domestic companies, taking "Tianrui Instrument (300165)" as an example, the company's annual report data shows that the company's gross profit in 2011 mainly comes from energy dispersive XRF, wavelength dispersion XRF, and sales of other inspection products, including energy dispersion XRF and wavelength Dispersion XRF accounted for 92.77% of the company's total gross profit for the year. From the perspective of company operations, in 2011, the company’s operating profit accounted for 73.76% of total profits, and non-operating profits accounted for 26.24%. In recent years, the proportion of non-operating profits increased year by year.

Concentrated Technology (300203) 2011 annual report data shows that in 2011 the company's gross profit sources mainly include products and operation and maintenance services in two categories, including operation and maintenance services accounted for 7.62% of the company's total gross profit, compared with the industry's leading international companies There is still a small gap. From the perspective of company operations, in 2011, the company’s operating profit accounted for 73.48% of total profits, and non-operating profits accounted for 26.52% of total profits. From a long-term point of view, the company’s non-operating profits accounted for the proportion of total profit in the long run. About 27%.

Comparing the profits of the above-mentioned industry leaders at home and abroad, the Food Safety Monitoring Equipment Manufacturing Industry Research Group of the Industry Research Institute of Qianfeng Research Institute believes that, from a comprehensive point of view, the profitability of the service projects of the domestic domestic enterprises is relatively large and urgently needed to be developed. Should see this, make full use of this profit space, as soon as possible to adjust the corporate profit model, to the overall solution model direction transformation and upgrading.

Judging from the profitability of the company's overall operations, the profits of the leading international companies are mainly derived from the operating profits of the company's main business, while the domestic leading companies, regardless of whether the business includes "services", have a very high proportion of non-operating profits.

For the above two domestic listed companies, their non-operating profits accounted for more than a quarter of their total profits. Although the figures of total profits make the company's financial statements look very beautiful, such profits are inefficient. Such a profit structure is not only unfavorable to the long-term development of the company's business, but also unfavorable to the overall improvement of China's food safety monitoring level; Need to improve their own awareness, and strive to increase product profitability through scientific research inputs and product quality, increase product profitability, and reduce the dependence of corporate profits on tax subsidies and government subsidies.

Looking at the profitability of the company's business, the gross profit generated by the "services" of leading international companies accounted for about 14% of its total gross profit. Such a proportion is relatively reasonable, and neither ignores the development and progress of inspection technology because it places too much emphasis on services. , And will not give up the profitability of a larger service sector. However, the service items of domestic food safety inspection equipment manufacturers, including Concentration Technology, account for less than 10% of their total gross profit, which is enough to show that domestic companies are not paying enough attention to services.

In general, as a major force in improving the level of food safety monitoring, it is incumbent on food safety testing instrument manufacturers to vigorously develop R&D to improve the detection technology. It is necessary to work hard to improve the level of detection and improve the overall profitability. At the same time, the company aims to make profits. As a corporate legal person, profitability is the foundation for survival. Industry companies must actively pay attention to changes in the profit space within the industry, seize the opportunity, actively adjust their own strategies and profit models, and comprehensively enhance their competitiveness.