·Main domestic automobile group parts industry strategy summary

FAW Group: From “big and complete” to “specialized and refined”
Although FAW Group has not yet been listed as a whole, the capitalization of its parts and components sector is not lagging behind. The three listed companies of FAW Fuwei, FAW Fuao and Qiming Information are the core representatives of FAW Parts. According to the statistics of the 2014 annual report, Qiming Information achieved sales income of 1.388 billion yuan, a year-on-year increase of 3.52%; net profit of 7.688 million yuan, an increase of 1%; FAW Fuao achieved operating income of 5.01 billion yuan, down 4.17% year-on-year; The net profit attributable to shareholders of listed companies was 626 million yuan, a year-on-year increase of 15.35%. As of the end of 2014, the company's total assets were 7.27 billion yuan, and the net assets attributable to shareholders of listed companies was 4.30 billion yuan. The performance of FAW Fuwei is relatively good. During the reporting period, the company achieved operating income of 11.273 billion yuan, a year-on-year increase of 19.01%, and net profit of 553 million yuan, a year-on-year increase of 50.86%. However, the increase in operating results was mainly due to the operation of the Chengdu and Foshan bases, and the company's internal cost control.
For a long-established automaker, the slogan of the parts and components does not seem to look good.
However, it is gratifying that FAW's parts and components are adapting to the needs of the market. In the development of the parts and components of FAW Group in the past few decades, it has been shifting from the big to the past.
Attached to the whole vehicle segment and the birth of FAW Group (formerly the first automobile manufacturing plant) has now experienced the following five development periods: the factory creation period (from the groundbreaking on July 15, 1953 to the first liberation card on July 15, 1956) Automobile production), growth and development period (from 1956 to the end of 1978), transformation adjustment period (from 1979 to the end of 1988), structural adjustment period (1989 to the end of 2001), and construction of "three transformations" The period of management digitization and management internationalization (since 2002).
The FAW component segment has developed along with the development of its entire vehicle segment, from a single medium-duty truck component to a medium-sized car, heavy-duty truck, light-duty vehicle, mini-car, car, passenger car, multi-variety, wide-series, all-round parts and components. Series pattern.
The FAW component segment was produced in “big and complete”.
At the time of FAW's establishment, at the same time as the construction of the automaker, FAW built a number of parts and components factories, such as engines, chassis and axles, which were directly matched with it. Chen Guangzu, a senior expert in the auto parts industry founded by FAW, said that FAW has copied the Soviet auto industry model and built a series of auxiliary workshops and branch factories such as stamping, mold, tools and power generation to form a large and complete parts production pattern. The self-made rate of its parts is as high as 80%, and it is impossible to talk about the professional production of parts.
During the period of growth and development, the number of FAW vehicles increased from one basic type to three, and the annual production capacity increased from 30,000 to 60,000 units.
During the period of changeover, FAW completed the design, trial production, testing and finalization of the second-generation CAD41 car. On January 1, 1987, FAW successfully changed production and bid farewell to the history of the "Thirty Years Consistent System" of Jiefang Automobile. Immediately afterwards, FAW seized the opportunity of the country to develop light-duty vehicles, medium- and heavy-duty vehicles and the sedan industry, and carried out preliminary work for a large number of expansion and new factories.
In each of the above periods, FAW's parts and components have been attached to the entire vehicle sector. From scratch, from small to large, there is no separation from the "big and complete" production pattern.
From the whole vehicle enterprise in the period of market restructuring, FAW carried out its third venture with the development of cars and light vehicles as the main symbol, and built two modern car production bases, FAW Car and FAW-Volkswagen, and merged, reorganized and transformed light-duty vehicles. Enterprises, forming a situation of medium-sized cars, heavy-duty vehicles, light-duty vehicles and cars, the production and sales volume of cars and light-duty vehicles accounted for nearly 50% of the total production and sales volume of FAW vehicles, and the production and sales volume of heavy-duty vehicles exceeded that of medium-sized vehicles. The transition from a factory to a group company system, from a single state-owned asset to a diversified asset structure.
With the adjustment of the structure of the whole vehicle and the expansion of production scale, the drawbacks of the FAW parts sector adhering to the whole vehicle sector are becoming more and more prominent: the restraint of the parts sector and the restraint of the whole vehicle sector are unable to participate in the market competition, violating the parts and products and the complete vehicle products. The international trend of synchronous development or advanced development cannot meet the development trend of vehicle informationization, automation and intelligentization, and cannot meet the market requirements for component technology upgrade, modular supply, quality improvement and cost reduction.
As a result, FAW gradually stripped the parts and components.
In June 1993, FAW separated the business of automotive interiors, exteriors, wheels, body electronics, body parts and filters, and established Changchun FAW Fuwei Auto Parts Co., Ltd. Fuwei is a core supplier of FAW Jiefang, FAW Car, FAW-Volkswagen, FAW Bus and FAW Toyota, FAW Jilin Automobile, FAW-GM, Tianjin FAW Xiali and other vehicle companies.
In September 1998, FAW separated six major series of services, including brake and transmission systems, steering and safety systems, electronic and electrical systems, and engine accessory systems, and established Fuao Auto Parts Co., Ltd. Its main customers are FAW-Volkswagen, FAW Jiefang, FAW Car, FAW Toyota, FAW Xiali, FAW Bus, FAW-GM, Shanghai Volkswagen, Shanghai GM, Dongfeng Shenlong, Shenyang Huachen, Chery, China National Heavy Duty Truck, North Benz and Anhui Hualing And other vehicle companies.
On October 25, 2000, FAW stripped its electronic computing office and established Qiming Information Technology Co., Ltd., a high-tech enterprise specializing in research, development, manufacturing and service of automotive enterprise management software and automotive electronics.
The move by FAW to strip the parts and components is in line with the trend of the international automotive industry. For example, on May 28, 1999, Delphi officially spun off from General Motors, becoming a completely independent company publicly listed on the New York Stock Exchange; in 2000, Visteon was spun off from Ford Motor Company.
Fuwei, Fuao and Qiming are listed companies and have established a level relationship with FAW's vehicle segment China FAW. This is a major breakthrough in the restructuring of FAW industry. Therefore, the FAW component segment has gradually entered the professional track.
FAW hopes to grow into a "big forest"
"The parts sector should not be a tree, but a piece of 'big forest'." This is Chen Guangzu's understanding of the specialization of parts production.
It is reported that FAW directly under the parts and components of the company has a Wuxi Jiefang Automobile Co., Ltd. Wuxi Diesel Engine Factory, Deutz FAW (Dalian) Diesel Engine Co., Ltd., FAW Jiefang Automobile Co., Ltd. Engine Branch, FAW Jiefang Automobile Co., Ltd. Axle Branch, FAW Bus Co., Ltd. The company, FAW Car Co., Ltd., Fuwei, Fuao, Qiming and Changchun FAW Fusheng Group Co., Ltd., etc.
FAW Jiefang Axle Branch is a wholly-owned company of FAW Jiefang, and FAW Jiefang is a wholly-owned company of FAW Group.
In Fuwei, Fuao and Qiming, FAW held 20.14%, 24.31% and 49.97% respectively. Fuwei has 15 branches and Fuao has 29 branches.
In response to the corporate development strategy, FAW further divested its parts and components. Founded in December 2012, Fushun is a diversified component company invested by FAW Group. It is mainly engaged in auto parts manufacturing and auto parts warehousing logistics. It has 15 branches and is engaged in brake modules and steering modules. Development and production of electronic and electrical modules, internal and external decorative modules, engine accessory modules, and supply of complementary products for FAW-Volkswagen, FAW Car, Tianjin FAW, FAW Jiefang, FAW Light Vehicle, Beiqi, Shenyang General and other vehicle companies, forming heavy, medium and light , the car and other multi-variety auto parts supporting the pattern. Its development strategy is to build a car component brand company with core competitiveness.
In accordance with the internal core component resource planning of FAW Group, Fuyi has established joint ventures with brand companies such as Lear and Bosch of Germany, making full use of foreign strong engineering technology, product development capabilities and expertise and resources in the field of automotive-related systems. Experience, form the ability to design and develop synchronously with vehicle companies, and form a team of management-oriented high-tech experts.
The relevant person in charge of FAW once said: "We continue to lay a solid foundation for independent innovation. We have mastered the core technologies of direct injection supercharged gasoline engines, car diesel engines, heavy commercial vehicle high horsepower engines, economical car automatic transmissions and sedan double clutch transmissions. The FAW component segment has a full range of interior development capabilities and full range of interior fatigue, durability, safety and other full range of verification capabilities, is a system supplier."
The FAW component segment entering the specialized track is expected to develop into a “big forest”.
The transformation of SAIC's parts in the Chen Hong era On March 12, 2015, Alibaba Group and SAIC announced that they will jointly invest RMB 1 billion to set up an “Internet Auto Fund” and form a joint venture to focus on technology research and development of Internet vehicles. In August 2014, SAIC's R&D system was integrated, and a forward-looking technology center with new energy, new materials and future mainstream technology was established. After the new chairman of SAIC, Chen Hong took office, the new energy, Internet and future mainstream technologies frequently The series of strategic adjustment actions indicate the new development of the future development of SAIC's parts and components sector.
The “13th Five-Year Plan” of SAIC, which is being worked out, may give us a glimpse of one or two. From the information disclosed so far, the future development strategy of SAIC Group is “new energy + Internet + X”. It can be foreseen that the development strategy of SAIC Group in emerging fields such as new technologies and new energy will inevitably lead to the simultaneous development of its auto parts business.
Expansion of traditional business segments Currently, SAIC's parts and components segment covers the development, production and sales of automotive components such as engines, transmissions, chassis, electrical and electronic, brake systems, and interior and exterior trim. Subsidiaries include SAIC Transmission, Shangchai, United Electronics, Shanghai Huizhong and Huayu Automobile. From the perspective of its subsidiaries, two listed companies. First, Huayu Automobile, a key component listed company of SAIC Group. Huayu Automobile directly invested in nearly 30 parts and components enterprises; the second is Shangchai, which is listed on the B-share market and is a commercial vehicle engine company. However, because SAIC's commercial vehicles have always been short-board, the company currently has only six subsidiaries. SAIC Transmission is a long-established wholly-owned subsidiary of SAIC. It has 17 parts and components companies. United Electronics is also a very influential automotive electronics company of SAIC. However, because it and the Bosch jointly control the subsidiary, the initiative is relatively weak. In fact, SAIC has several auto electronics companies such as Lianchuang, but its influence is very small; Shanghai Huizhong is a wholly-owned subsidiary of SAIC. Originally, Huizhong was a manufacturer of commercial vehicles and chassis systems, and was later positioned as a component company that produces chassis systems. At present, Huayu Automobile has acquired it.
It is worth noting that many new energy component companies of SAIC Group were newly established after 2000. In 2014, the SAIC Annual Report stated that the research and development capabilities of core components such as electronic control, battery and motor of new energy vehicles have been further strengthened. It is estimated that in the future, SAIC Group will have more and more supporting parts and components enterprises in the fields of new energy and internet, and the comprehensive strength of the company will increase significantly. In addition, with the development of new materials, related parts companies will also appear.
To build an independent supplier with international influence From the recent SAIC injection of Huizhong into Huayu Automobile, SAIC intends to turn Huayu Automobile into an "aircraft carrier" in the auto parts industry.
Huayu Automobile is a component company built by SAIC Group and is also a key component group currently controlled by SAIC. The development strategy of Huayu Automobile represents the overall thinking of SAIC's parts development to some extent. At present, the “13th Five-Year” development strategy of Huayu Automobile is being formulated. However, from the actions of a series of mergers and acquisitions of enterprises and the information disclosed in the 2014 annual report, it is possible to perceive the future development strategy of Huayu Automobile.
Huayu Automotive is a leading enterprise in China's auto parts industry. It has the largest scale, the best efficiency and the strongest control. Up to now, a total of 28 direct investment companies, of which more than 30% are absolutely controlled, 50% are 50:50, and 15% are shareholding companies. Its main business includes automotive interior and exterior trim, metal forming and mold, functional parts, electronic and electrical components, hot-worked parts, new energy, etc., long-term with Shanghai Volkswagen, Shanghai GM, FAW-Volkswagen, Changan Ford, Shenlong Automobile, Beijing Hyundai , Dongfeng Nissan, SAIC passenger cars, Great Wall Motor and other major domestic vehicle customers to maintain a stable strategic partnership.
Huayu Automobile has a relatively complete supply chain system for auto parts. As of the end of 2014, the company's subsidiaries have established 261 R&D, manufacturing and service bases in 20 provinces, municipalities and autonomous regions across the country, and in the United States, Germany, Thailand, Russia, Australia, the Czech Republic, India and other countries have set up 14 production and manufacturing bases to provide high-quality localized R&D and supply services for many domestic and foreign vehicle customers. It has formed a relatively complete domestic and international industrial layout and has the advantage of industrial clusters. Huayu Automobile strives to achieve a consolidated operating income of 77.5 billion yuan in 2015, and on this basis, the operating cost will be controlled within 66 billion yuan, actively responding to the possible changes in the global automotive industry ecosystem, further optimizing the lean system and focusing on the core. Business, enhance R&D capabilities, build global brands, meet customer needs, and ultimately become an independent supply auto parts group with sustainable development capabilities and international influence.
Seeking the commanding heights of new energy and new materials Shanghai's parts and components system is the most complete compared with its peers. However, there are still many weak links in the development of SAIC's parts and components segment. In the passenger vehicle powertrain sector, the commercial vehicle parts segment still lacks core key technologies and product support. In the major joint ventures of Huayu Automobile, because of the lack of technical strength, it is difficult to have the dominant position in the operation and control of enterprises.
In the future, Chen Hong proposed to maintain the traditional advantages for the development of SAIC, while vigorously developing new technologies such as the power system of new energy vehicles and the innovative application of new materials. In August 2014, Chen Hong integrated SAIC's R&D system and established a forward-looking technology center with new energy, new materials and future mainstream technologies. SAIC Group is trying to find a commanding height for a new round of automotive development in the field of new energy and new materials. The key is that it will no longer lose the initiative and control of key components in the new round of automobile revolution.
The pace of international development strategy is accelerating At present, SAIC is actively promoting its international development strategy from top to bottom, and Huayu Automobile, which is rapidly expanding its business, is also striving to become a global component supplier that provides system integration solutions. . The rapid development of Huayu Automobile is inseparable from the important way of merger and reorganization.
Taking the automotive interior parts business as an example, in order to accelerate the implementation of the internationalization strategy of the automotive interior business, last year, Huayu Automobile completed the acquisition of the original 50% equity of Yanfeng Visteon Automotive Trim Systems Co., Ltd. This year, Yanfeng Motor and the United States Johnson established a new interior joint venture, Yanfeng Holdings 70%. On March 27th, Yanfeng Automotive Interior Systems Co., Ltd., a subsidiary of Huayu Automobile Holdings Co., Ltd., also transferred a 12.5% ​​stake in Yanfeng Visteon Jinqiao Automotive Trim Systems Co., Ltd. held by SkyFaith to further integrate the interior parts business services. Huayu Automotive has an international leading position in the automotive interior business.
In addition, Huayu Automobile invested in the Shanghai Free Trade Zone to establish a wholly-owned subsidiary, Huayu Automotive Systems (Shanghai) Co., Ltd., to serve the internationalization strategy. The establishment of a company in the Free Trade Zone can make full use of the policy of the Free Trade Zone, play its role as an overseas investment and financing platform, and support the future international merger and acquisition business of Huayu Automobile. In July last year, the company acquired a 50% stake in KS AluTech, a German wholly-owned subsidiary of the German KSPG Group. The successful implementation of the project will help the company to grasp the weight of components such as automobile engine blocks and body structural parts. Technology development and application capabilities create conditions for accelerating the formation of a global supply system for the company's cast aluminum business.
The joint venture, independent two-wheel drive and Japanese joint venture of GAC Parts are the traditional features of GAC Group. In recent years, the joint venture with Italian car Fiat is a new attempt of GAC Group. In addition, the influence of self-owned brands has also risen to Guangzhou Automobile Group. Important strategy... Recently, Guangzhou Automobile Group officially launched the “3+e” development strategy, and gradually established the business strategy of “three-legged” in the group's own brands, Japanese and European and American. I believe that this vehicle development strategy is bound to lead the Guangzhou Automobile Group's parts layout and future development.
Guangzhou Automobile Group Co., Ltd Holding, jointly controlling and participating in 33 companies to produce other auto parts. It is reported that when GAC Group first established a joint venture with Toyota, Honda and Mitsubishi, it also established a parts and joint venture company with the corresponding accessory parts companies to facilitate localized supply. Most of the parts and components of GAC Group are joint ventures with Japanese component companies. GAC parts are more than joint ventures with Japanese-owned parts. Ye Shengji, deputy secretary-general of the China Association of Automobile Manufacturers, said that the Guangzhou Automobile Group is based on joint ventures and its own brands are gradually developing. These group parts companies that rely on the big trees are basically based on the development of the group's complete vehicles (including their own brands).
It is reported that GAC parts is a joint venture between Guangzhou Automobile Group (51%) and its subsidiary Junfeng Company (49%) in 2000. It mainly produces automotive air conditioners, seats, lamps, door trim panels, carpets, sound insulation parts, springs, aluminum. Solutions, aluminum rims, shock absorbers, steering gears, motors and other products have initially formed a series of multi-series, multi-variety production of interior systems, heat exchange systems, lighting systems, chassis related components. The products are mainly supplied to Guangqi Honda, Guangzhou Automobile Toyota, Dongfeng Honda (Wuhan), Dongfeng Nissan Passenger Vehicle, Hainan Mazda and other automakers, and some products are exported overseas. By the end of 2014, GAC Components had established 33 investment companies with an operating income of over 20 billion yuan. The US-China deficiency is that China’s share of the company is relatively low. The Guangfeng engine not only supplies the engine to the Toyota car in the Guangzhou Automobile Group, but also supplies the engine to Toyota. Guangzhou Automobile Group owns 30% of its equity. Shanghai Hino engine production is relatively small, and business operations are not good. It is reported that Shanghai Hino Engine is an associate company established on October 8, 2003. Hino Auto Co., Ltd., GAC Group and Shanghai Electric (Group) Co., Ltd. hold 50%, 30% and 20% of Shanghai Hino, respectively. In addition, Guangzhou Automobile Group and other joint ventures set up engine plants for their respective vehicles.
Guangzhou Automobile Components Strengthen Self-management “The development of GAC components will closely follow the “3+e” development strategy of GAC Group. We will adhere to the development strategy of “one center, two-wheel drive and five business systems” to build the core competitiveness of the company. The center, with joint venture cooperation and independent operation as the main line, gradually builds five business systems (internal and external decoration systems, chassis systems, power systems, lighting systems, electronic and electrical systems), enhances research and development capabilities, and builds the company into a top 30 Chinese machinery. The person in charge of the parts said that GAC components will be developed around the five major business systems, and will be optimized and upgraded through addition, subtraction and horizontal and vertical integration to create superior products. In addition to joint ventures with Japanese component companies, the existing joint venture partners include Johnson Controls in Europe and America, Kasma, Fiat Power, and Lear. In the future, GAC will strengthen its cooperation with other multinational parts companies and strengthen its own business.
It is reported that Guangzhou Automobile Group actively promotes the research and development of pilot technologies and key components such as new energy, new technologies and smart cars. Guangzhou Automobile Group was included in the national “863” plan “Increased in the research and development and industrialization of pure electric cars”. The project was approved by the Ministry of Science and Technology and the products were put into demonstration operation. The relevant person in charge of GAC parts said that in the field of new energy vehicles, the forward-looking vision of GAC components follows the market and policy guidance, and through the strong cooperation, provides customers with new energy auto parts. In addition, through the industrialization of independent research and development products as a breakthrough, from point to point, gradually into the field of new energy vehicles and smart cars. In the future development plan of GAC components, improving the market share of non-systems is one of the important directions for development. GAC components are considering expanding the external matching rate in the form of joint venture cooperation and equity mergers and acquisitions.
The independent vehicle sector creates an independent supply chain. “By fully integrating the advantages of the European, American and Japanese supply chain systems, and cultivating domestic supporting systems, Chuanqi has built a leading industry and world-class supply chain system.” Manager Wu Song said that after nearly eight years of market cultivation, GAC passenger cars have established a supply system of about 400 suppliers, of which 50% are Chinese-funded, 35% are European and American brands, and 15% are Japanese and Korean brands. %. At present, Bosch, Delphi, Aisin, Faurecia, TRW, Continental and other parts giants are all suppliers.
At present, GAC parts are used for supporting parts, including stamping, interior and exterior decoration, electronic appliances and chassis. The parts involved include transmissions, body weldments, seats, air conditioners, stabilizer bars, carpets, and soundproofing. Thermal insulation, sealing systems, etc. Wu Song said that in the early days of Chuanqi's development, GAC components were deployed from a strategic level, organized by its component companies and established a special company to participate in the new model project of Guangzhou Automobile. Although it is a supplier within the system, we are treated equally in the competition of the project and are not biased.
However, the future development of GAC components is not without worry. For example, the parts companies currently invested are basically joint ventures and are controlled by foreign capital. The Chinese side basically has no core parts technology and products. Guangzhou Automobile Passenger Vehicle is one of the important customers of GAC components. With the formation and scale of the three major automobile bases of Guangqi Honda, GAC Toyota and Dongfeng Nissan, the development and production of GAC's own-brand vehicles will usher in a new spring. At the same time, it faces more challenges. Obviously, GAC components have realized that in order to further expand their influence in the future, enterprises need to strengthen independent research and development and reserve core technologies. From the strategy of “one center, two-wheel drive, five business systems” formulated by the company, GAC components have begun to realize the constraints of their further development, and have consciously passed independent research and development, layout of new energy sources, and increased external supporting ratio. Measures to improve their competitive strength step by step.

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