1. Policy analysis
my country lists the automobile industry as one of the pillar industries for the development of the national economy, and plans to cultivate a group of parts manufacturing enterprises with international competitive advantages in my country, so that they can enter the international auto parts procurement system, and strive to make my country become the world's auto parts Supply base. The state has successively formulated a series of industrial policies such as the "Medium and Long-term Development Plan for the Automobile Industry", "The 13th Five-Year Plan for the Development of National Strategic Emerging Industries" and "Made in China 2025" to encourage the development of the automobile industry and auto parts industry.
2. Market analysis
(1) Continuous development of domestic auto parts industry
With the continuous development of the domestic auto parts industry, the total operating income of China's listed auto parts manufacturers has reached 827.863 billion yuan in 2019, with an average annual growth rate of 18% from 2015 to 2019. The contribution of auto parts to the national economy is increasing. Higher.
(2) The auto parts industry accelerates the realization of automation and intelligence
At present, the global automobile industry has entered a mature period. Vehicle manufacturers pay more attention to cost control, professional division of labor, and quality control. The global auto parts industry is also accelerating the realization of automation and intelligence. The shortage of labor force and the disappearance of demographic dividend have caused the labor cost of industrial manufacturing enterprises to rise sharply. In recent years, enterprises in the auto parts industry have accelerated the process of automation to achieve efficiency improvement and sustainable development. With the gradual development of traditional industrial automation control technology in the direction of integration, networking and intelligence, it becomes possible for component manufacturers to accurately control the processes of procurement, production, warehousing, and supply. Combined with its own product production process, the auto parts industry can jointly develop automated warehousing, logistics and production workshops with automation equipment manufacturers, establish an intelligent production system, and reduce long-term labor costs while maximizing customer quality and supply. To meet the demand for goods, and establish a replicable production model, lay the foundation for further expansion of production capacity and large-scale expansion.
On the whole, driven by the national industrial policy and the rapid growth of the automobile industry, the technical level and production management level of my country's auto parts companies will be greatly improved, and the market development space will become larger and larger.
3. Analysis of competitive landscape
From the perspective of marketization, mid-to-high-end auto parts products have high market entry barriers due to factors such as high technical requirements, high capital intensity, and strong specificity. Large-scale enterprises are limited, and the market concentration is usually relatively high. high. In the low-end product market, due to the relatively low technical level and entry barrier requirements, the market demand is large, and there are more companies participating in production and the competition is fierce.
1. Shandong Liancheng Precision Co., Ltd. is a listed company on the Shenzhen Stock Exchange. It is mainly engaged in the development, design, production and sales of precision castings. At present, it has formed a comprehensive Perfect casting service system within.
2. Sichuan Deen Precision Technology Co., Ltd. is a listed company on the Shenzhen Stock Exchange. It is mainly engaged in the research and development of belt pulleys, taper sleeves, synchronous expansion chains, reducer gears, flanges, industrial belts, polyurethane synchronization and other mechanical transmission components and supporting products. , Design, production and sales.
3. Ningbo Tuopu Group Co., Ltd. is a listed company on the Shanghai Stock Exchange. It is mainly engaged in the R&D, production and sales of rubber shock absorption products and sound insulation products in the field of automotive NVH (vibration, noise reduction and comfort control). The main customers are Shanghai GM, Geely Automobile, Changan Ford and other well-known domestic automakers.
4. Chengdu Xiling Power Technology Co., Ltd. is a listed company on the Shenzhen Stock Exchange. It is mainly engaged in the research and development, design, manufacturing and sales of engine parts. The products include crankshaft torsion damper (commonly known as pulley), connecting rod assembly, and camshaft assembly. Cheng etc.
5. Hubei Guangao Shock Absorber Manufacturing Co., Ltd. was established in 1958. Its predecessor is Zhuxi Changbin Shock Absorber Development Co., Ltd. It is mainly engaged in the production of shock absorbers, including silicone oil shock absorbers and rubber shock absorbers. , Silicone oil rubber shock absorber, stamping parts, spinning parts, and other parts.
Data source: official website of each company, enterprise search website, collated by Shangpu Huatai
4. Risk analysis
(1) Industrial policy risks
The automobile industry has an important strategic position in my country's national economy. my country's automobile industry has achieved rapid development under the support of national policies. However, in recent years, with the development of the automobile industry, resource shortages, environmental pollution, and traffic congestion have become important constraints to the long-term sustainable development of my country's economy. The Chinese government has made relevant adjustments to the automobile industry policy and introduced countermeasures, strictly restricting new vehicle investment projects in the production-side countries, vigorously developing the production of new energy vehicles, and improving the standards of traditional automobile emission systems; in the consumer-side countries Encourage the consumption of small-displacement vehicles and provide subsidies for the consumption of new energy vehicles. Some areas with high car ownership, traffic congestion and serious environmental pollution have adopted strict administrative measures. For example, restrictions on motor vehicle tail numbers, motor vehicle purchase lottery policies and other measures will curb demand for complete vehicles and curb demand for vehicle maintenance. It has a negative impact on the auto parts industry. In the future, if the social and environmental problems caused by automobile consumption intensify, it will bring greater uncertainty to the country’s industrial policies. Unfavorable changes in industrial policies will have a greater impact on automobile production and consumption, which will further affect the auto parts industry. The operation of production enterprises caused shocks.
(2) Risks caused by the "new crown epidemic"
Since January 2020, the outbreak of new coronavirus pneumonia at home and abroad (hereinafter referred to as the "new crown epidemic") has begun, and various provinces and cities in my country have successively initiated first-level responses to major public health emergencies, and adopted measures such as delaying the resumption of work and reducing personnel gathering Since March 2020, the epidemic situation in overseas countries has become severe and complex, and countries have begun to take measures such as suspension of enterprises and restrictions on international trade. In the future, if the new crown epidemic at home and abroad repeats or worsens, the production activities of the auto parts industry will also be negatively affected.
This excerpt is from the "Auto Parts Project Investment Feasibility Study Report" issued by Shangpu Huatai