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Auto parts industry Walked through the road for ten years
In 2003, China's auto sales exceeded 4 million units; in the first 10 months of 2013, China's auto sales exceeded 17.8 million units, and the annual breakthrough of 20 million units is a foregone conclusion.
In the past ten years, the size of the Chinese auto market has more than quadrupled, and the auto parts industry has experienced an unusual growth period. According to statistics, from 2003 to 2012, China's auto parts and accessories sales revenue increased from 300.3 billion yuan to 2,226.73 billion yuan, a net increase of nearly 2 trillion yuan. At the same time as the scale of the market has expanded, new product development and technological innovation of component companies have continued to bear fruit. Some parts and components companies have begun to go abroad, exporting products, overseas mergers and acquisitions, investing in factories, and dancing on the international stage. Write a chapter with a strong ink color.
Market size and strength increase greatly
In the past ten years, the market size of China's auto parts has continued to expand. In 2012, the cumulative export value of auto parts reached 55.522 billion US dollars, of which the export value of auto parts, accessories and body reached 27.787 billion US dollars, an increase of 2.74%.
The market scale of some domestic auto parts companies is also expanding, and the development prospects are very broad. For example, the sales revenue of Fast has increased from 1.17 billion yuan in 2003 to 8.17 billion yuan in 2012, an increase of 7 times; the annual output value of Hangsheng has increased from 800 million yuan in 2003 to 3 billion yuan in 2012; The sales revenue of products was only 4.79 billion yuan in 2003. In 2010, it exceeded 10 billion yuan and achieved sales income of 13.05 billion yuan. The data of these changes allows us to visually see the huge changes in the scale of domestic auto parts companies in the past decade.
In addition, with the continuous expansion of the company's scale and continuous improvement in performance, many auto parts companies have been selected in the “Top 100 China Auto Parts Enterprises 2013”, such as Weichai Power Co., Ltd. and Shaanxi Fast Auto. Transmission Group Co., Ltd., Shaanxi Hande Axle Co., Ltd., Nanjing Aotejia Cold Machine Co., Ltd., etc. In addition, Weichai Power, Zhongce Rubber, Dechang Motor, Linglong Tire and CITIC Dyka have entered the “Top 100 International Auto Parts Enterprises 2013” by virtue of not losing the strength of the World Large Parts Enterprise Group. .
Increased investment in new products and new technologies
Product technical strength is the core element of enterprises participating in market competition. The strength of foreign parts companies comes from huge R&D investment and continuous technological innovation. Domestic enterprises have been lacking in this aspect. However, with the intensification of competition in the auto parts market, domestic parts companies have gradually increased their investment in research and development of new products and new technologies.
According to the data on R&D investment in the 2012 annual report of the top 30 companies listed in the auto parts listed company, the average R&D investment accounted for 2.70% of the total operating income, and the average investment amount was 244 million yuan. Compared with last year, it has increased. Among them, Weichai Power's R&D investment accounted for 4.14% of the operating income, with a total amount of 1.996 billion yuan. In 2012, Yunnein Power's R&D investment increased by 22.15% compared with the same period of last year. It also increased the investment in R&D projects such as “D25TCI Electronic Control Common Rail Project” and “Euro 5 Diesel Engine Development”. The direct result of the increase in R&D investment is that in recent years, many new technologies and new products have emerged in the auto parts industry, such as direct injection technology in cylinders, electronically controlled high pressure common rail technology, dual clutch transmission technology, etc. Turbocharging technology has also been continuously improved. In terms of new products, Yuchai released the National 5 natural gas engine series last year, and the world's first front-drive front 8-speed automatic transmission developed by Shengrui. In addition, many component companies have established national-level technology centers to strengthen research and development of new products and technologies, such as Shaanxi Fast Auto Transmission Group Co., Ltd., Liaoning Shuguang Automotive Group Co., Ltd., Zhejiang Wanan Technology Co., Ltd., Hunan Tianyan Machinery Co., Ltd., etc.
Parts companies practice "going out" strategy"
In the past ten years, the development of parts and components enterprises has been good, but there is still a big gap compared with the level of international parts. For example, the technical strength mentioned above is the main bottleneck restricting the development of domestic parts and components enterprises. Domestic parts companies & ldquo; go out rdquo; overseas mergers and acquisitions is an effective means to improve their technical strength, breaking the key technology and market situation of foreign monopoly, this trend has become more and more obvious in recent years.
In 2007, Ningbo Huaxiang acquired Lawrence Interiors Co., Ltd. of the United Kingdom. In 2011, the automotive electronics component manufacturing company of Ningbo Junsheng Investment Group Co., Ltd. acquired the German Purui Company; Nanyang Xiaofan Automotive Shock Absorber Co., Ltd. acquired WayAssauto, the largest automobile shock absorber company in Europe; in 2012, under the China Weapons Group Lingyun completed the acquisition of Germany Kaiyide. Although these overseas M&A cases are not so successful, they at least explain the positive attitude of domestic parts companies “going out” to participate in international competition.
In addition, this year, Shaanxi Fast Auto Transmission Group established Fast Auto Drive (Thailand) Co., Ltd. in Thailand, and Fuyao Glass Industry Group Co., Ltd. also announced that it will set up in Russia “Fuyao Russian Float Glass Co., Ltd.” And set up in the United States "Fuyao Glass USA Co., Ltd.”. This shows that domestic auto parts companies are looking for ways other than overseas mergers and acquisitions to enhance their own strength. Of course, overseas construction needs stronger corporate strength to support, not every auto parts company is applicable, but this new “going out” strategy shows from the side that after ten years of accumulation, domestic parts Enterprises have the strength to accumulate.