Downturn in performance of auto parts enterprises overseas orders contrarian growth

Downturn in performance of auto parts enterprises overseas orders contrarian growth

Downturn in performance of auto parts enterprises overseas orders contrarian growth
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since April this year, auto sales figures year on year growth to pick up potential, but upstream of the auto parts industry is still cold bursts. According to the China Securities Journal reporter statistics, as of June 19, a total of 28 auto parts listed companies released by mid-year performance forecast, the net profit of 28 companies fell 22.42%.

domestic auto market slowdown is the main cause sluggish performance parts manufacturers. However, the supporting parts manufacturers for multinational car firms still benefit from the steady growth in overseas orders.

domestic car prices supporting downturn has issued a notice of reporting the results of these 28 companies, only six companies are expected results will be an increase of 11 companies expected that performance will decline year on year, while others hovered in the year-on-year a slight increase or slight decrease.

compared with the first quarter of this year, auto parts listed companys performance status did not significantly change. The results of only 15 companies in the first quarter of this year, 55 auto parts listed companies grew, the auto parts industry as a whole profit fell 23.63%. Performance notice has been published in 28 companies, seven in the first quarter of this year to achieve performance up.

as FAW, JAC, Dongfeng, Chery, a number of large car companies are a supplier, manufacturer of automotive braking systems, security technology (002 590) just listed on the embarrassing performance by the auto market cold wave. In the first quarter net profit fell 69.29 percent, while expected net profit in the first half of this year fell by 50-80%, the company that is subject to the automotive industry, market demand slowdown.

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own brand passenger car market share of the growing decline in the context of own brand car prices Chery, JAC tank suppliers Shunrong shares (002 555 ) also experienced a decline in performance. The companys first quarter net profit fell 78.48 percent, is expected to the overall situation will not improve in the first half of this year, net profit fell by 60-80%. The company said that the government subsidies received by the Company during the reporting period fell to 11.5 million yuan, while management costs are increasing.

This is switch to the auto parts industry, the company of the the

new friends shares (002,328), the project has not yet reached the production, performance is not optimistic. The companys first quarter results fell 94.45 percent, is expected first half net profit fell 60% to Jiucheng. The company said this year, domestic and international economic slowdown, the manufacturing industry is facing severe challenges of the market. Affected by some of the major customer orders decline, coupled with the operating scale leading to increased operating costs, new research and development projects continue to invest a combination of factors, the company is expected to decline in performance.

overseas orders trend growth expected performance year-on-year growth of six companies, despite the projected increase did not exceed 40%, showing some of the highlights in a weak market , but these companys clients are mostly multinational car firms.

Central Plains within the distribution (002 448) to benefit from growth in export markets, shortage of orders, first half net profit is expected to increase by 15-40%. The company said the reporting period, the company IPO to raise funds investment projects are all put into production, profitability is gradually released. Minsheng Securities study shows that the benefit from the international market orders transfer as well as Europe and the United States auto market recovery, the explosive growth of the company export business.copper pipe and fittings. Market in North America primarily for customer support of GM, Ford, Chrysler, Cummins, International trucks, commercial vehicle market share of 40%, 22% of passenger cars; in the European market the company has successfully entered the Mercedes-Benz, Volvo, Fiat, Peugeot – Citroen internationally renowned companys global procurement system.

Jingwei shares (002,662) is expected in the first half of this year, the companys net profit increased by 10-40%. Hai Tong Securities 2011 companies on the North-South Volkswagen, Mercedes-Benz, BMW, an ancillary revenue accounted for 75%, including three German luxury car Audi, BMW, Mercedes-Benz of an ancillary revenue, accounting for 47%, is a veritable the luxury of supporting enterprise. The past two years, luxury car sales growth far exceeding the industry average, driving the companys rapid development.

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Guangdong Hung (002 101) in the first quarter net profit fell 5.01% of the case, the expected net profit in the first half of this year, an increase of 0% to 30 %. The company said the market forecast based on product sales, operating income over the same period last year to grow steadily, while the company effective control of costs, and thus expect the results will be up by a slight increase.

Dongxing Securities research report, Our main products are auto parts and communication parts die castings in 2009, both operating income accounted for 70% and 30 %. The full company automotive die-casting parts orders, foreign orders better than domestic and foreign customers are GM, Chrysler; domestic customers for Guangzhou Honda, Dongfeng Honda.

industry insiders believe that the current automotive market slowdown mainly due to weak demand rather than supply reasons. Factors constraining the increased cost of vehicles, traffic congestion, parking difficulties, the purchase of the limit line, the explosive growth of the automotive market is difficult to reproduce. As a result, the parts industry, companies must seek a breakthrough in technology and quality,mold silicone. strive for a quality vehicle customers in order to stand out in the industry.

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U.S. sanctions against China auto parts, according to foreign reports, June 15, the U.S. trade sector, a senior official said it was considering taking action, sanctions against imports from China auto parts and critical review of the other questions on Sino-US automotive trade.

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the United States Trade Representative, Office of General Counsel Tim Ratliff on sanctions against the Chinese auto parts to the media regarding the said: “We are examining a range of bilateral issues , including in the automotive sector (the dispute). Still in research stage, and thus can inform you more details. However, we do examine these issues, and also matters relating to the investigation and the automotive industry. “

Earlier this year, U.S. steel trade unions and related organizations in the general election the eve of U.S. President Barack Obama put pressure on the requirements to curb imports from Chinas auto parts “torrent”. These organizations urged Obama to prosecute to the International Trade Organization, WTO, or initiated by the Ministry of Commerce anti-dumping / subsidy investigation for the Chinese auto parts.

since 188 members of Congress, Obama collective letter, accusing the Chinese to take a variety of subsidy policies, resulting in unfair trade advantage, and reiterates its request to impose sanctions on China auto parts . A considerable part of these members of Congress are from the central and western industrial states such as Ohio and Michigan, these states play an important role for Obamas November election this year. For the intention to impose sanctions on China auto parts, Leaf stressed that all actions will be based on careful examination of the actual situation, not to help Obama win votes.

this year by the global financial crisis, the U.S. economy, delay is difficult to effectively recovery. Trade friction between China and the United States increased significantly, long ago, the United States has also launched a “double reverse” survey of Chinese PV.


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