Baoxin Software disclosed its annual report on April 5, 2023, and the company achieved a total revenue of 13.15 billion yuan in 2022, an increase of 11.8%. Net profit returned to the mother was 2.186 billion yuan, up 20.2% year on year; Earnings per share were $1.12.
From the perspective of business structure, “software development” is the main source of business income. Specifically, “software development” revenue was 9.59 billion yuan, accounting for 73% of revenue, and gross margin was 28.7%.
It is reported that Shanghai Baoxin Software Co., Ltd. is a listed software enterprise controlled by China Baowu and controlled by Baosteel Co., LTD. Headquartered in Shanghai Pilot Free Trade Zone, it is a well-known application solution and service provider for industrial software industry in China.

PLC is the brain of industrial control system, and there are many kinds of products, and their specifications and performance are different. Although PLC can be used across industries to a certain extent, there are still certain industry barriers. Small PLC is mainly used in the OEM market, the technical difficulty is not high, the competition is fierce. The large PLC is mainly for power, metallurgy and other project-type markets, high technical barriers, difficulty, high requirements for platform stability; Not only that, medium and large PLC need to have a certain networking and configuration capabilities with peripheral equipment, and it will also involve data security issues when cooperating with downstream manufacturers. Medium and large PLC manufacturers in the technical barriers, customer barriers, financial barriers, product exclusivity barriers under the joint action, built a wide moat.
On July 26, 2021, Baoxin Software released a large PLC (programmable logic controller) product, the core component of its self-developed industrial control system. The PLC is mainly for the process needs of high-end metallurgical equipment, which is another major innovation achievement of Baoxin Software in the steel industry. This time, Baoxin Software large-scale PLC products adhere to the open system architecture design concept, providing a set of powerful hardware and software control platform, is a major breakthrough in the realization of independent replacement of domestic industrial control system.

Data show that the metallurgical industry industrial control system market of nearly 200 billion, is absolutely monopolized by foreign manufacturers, Baoxin PLC, SCADA as a starting point, to create industrial control growth curve. In addition to the design and manufacture of localization, the important parts and software of Baoxin PLC have also achieved localization, and its performance indicators have been comparable to high-end products of European and American manufacturers, for the high-speed control needs of continuous rolling mill, the system supports up to 6 processing units in parallel computing, single instruction execution time is less than 1 nanosecond, and the fastest scanning cycle is as low as 200 microseconds. At the same time, with the broad support for the mainstream industrial fieldbus and industrial real-time Ethernet protocol, as well as the deep integration of the next generation standard interface OPC-UA, Baoxin PLC also has better compatibility and scalability than foreign manufacturers.