nearly 30 countries including the United States, the United Kingdom, South Korea, and Malaysia.
Currently, the export of domestically produced bulletproof vests is mainly to Middle Eastern countries such as Israel, Iraq, and Kuwait, but also to nearly 30 countries including the United States, the United Kingdom, South Korea, and Malaysia.
Previously, data showed that only three countries in the world could produce bulletproof vests from raw material development to manufacturing, namely the Netherlands, the United States, and China. The bulletproof vests produced in China are priced 30% to 50% lower than similar products in other countries, quickly capturing the international market. Currently, China's bulletproof vests account for about 70% of the global market share.
Currently, the listed companies that are clearly engaged in the production of bulletproof vests are JiHua Group. After a major shooting incident in Japan, the "bulletproof vest" concept stocks in the A-share market rose, and JiHua Group rose by more than 6%.
JiHua Group is an important research and production base for Chinese military supplies, workwear, and occupational footwear. It is a core supplier of military supplies procurement for the Chinese military and armed police forces. Its subsidiary, XinXing JiHua International Trade Co., Ltd., has the qualification for exporting military supplies and also conducts international trade mainly based on the export of military supplies.
Financial report data shows that in 2021, JiHua Group's revenue in foreign markets reached 640 million yuan, a year-on-year decrease of 41.13%. The main reasons are the adverse effects of the COVID-19 pandemic on production organization and insufficient overseas military orders.
JiHua Group stated that some of its subsidiaries are engaged in the research, production, and sales of functional protective products and equipment, environmental protection filter materials, etc. Among them, protective products mainly include bulletproof vests, bulletproof helmets, bulletproof inserts, bulletproof protective gear, and other functional devices. In 20212, JiHua Group's revenue from protective equipment was 1.238 billion yuan, accounting for less than 8%.
The increase in demand for bulletproof vests in overseas markets this time may have a positive impact on its performance.