In 2009, the automotive industry achieved a good development, and the auto parts industry was also in a period of rapid global expansion. In the past 10 years, the profitability of parts and components manufacturing industry is generally higher than the vehicle manufacturing industry. The average profit rate of the world's large vehicle companies is about 4.7%, while the average profit rate of the 10 ultra-large auto parts enterprises is 6.4%. The average profit rate of the top 50 auto parts enterprises in China is 6.9%.
With the further recovery of the world economy, the auto parts industry will usher in a new battle in 2010. Product technology competition, market share competition, mergers and acquisitions, etc. will all be the focus of the new year's auto parts companies. How to win the market, capital control, market expansion, and new energy technologies have undoubtedly become the three most important parts.
Capital control is the focus of business operations. With the shift of investment to regional revitalization and investment, driving the shift of the economy to a consumption-led pattern, and the gradual recapture of bank funds, in 2010, auto parts companies will need to adjust their thinking, expand their financing channels, focus on the capital market, and pay attention to the people. Capital operation. Experts pointed out that direct financing will become an important support for business expansion and product upgrading.
Due to the imperfect development of China's capital market and a single financing channel for enterprises, the traditional financing channels of auto parts companies rely mainly on bank loans, while banks that pursue the principle of sound operation do not dare to lend funds to high-tech companies with high risks. For SMEs, loans from banks are very difficult due to the small size of assets.
Attracting venture capital is undoubtedly an important way to combine innovative technologies with financial capital.
The huge space for growth in the Chinese market will greatly increase the most powerful support factor for the valuation of invested companies, which is also the biggest driving force for attracting global venture capital to enter actively.
In addition, China's auto parts industry is also facing tremendous opportunities for development. The increase in the global procurement of multinational corporations provides local component companies with the opportunity to enter the global supply chain system. At the same time, China's new rural construction will provide new growth points for commercial vehicle and agricultural vehicle accessories companies. These hidden markets will further expand the introduction of venture capital projects.
Expanding the market is a difficult path for business development. While striving to expand domestic matching and after-sales markets, it is still a difficult and promising prospect to open up the international major automobile consumption market.
There are inherent problems in the export of parts and components in China: lack of innovation awareness and capabilities, lack of core technologies, lack of marketing systems, lack of brand advantages, and lack of differentiation, mainly rely on low-cost large-scale rapid expansion, with prices as the main means of competition, It is an extensive export growth path. On the other hand, the huge export capacity formed on the basis of lack of core competitiveness, lack of marketing network and brand, although once in a considerable period of time, our exports have brought high growth. However, in the long run, especially when we, as part procurement bases, are losing their cost advantage, it is no longer possible to maintain rapid growth at this status quo.
In this regard, compared with the domestic market, the development of foreign markets is slightly more difficult. The market expansion is facing a new revolution, increasing the added value of products, and vigorously promoting the transformation of parts and components exports from machinery-based to electromechanical and electronic products; the export market of parts and components should be oriented mainly to the aftermarket and maintenance markets. Entered the transition of multinational companies' global supply chain (ODM, namely Dingpai Design Production/OEM, ie Dingpai Production); expanded the foreign matching market for auto parts and mid- to high-end markets in developing countries, and steadily entered the low- End market.
Improving the technological content of products is the key to achieving good returns for enterprises. Grasping the development trend of new energy vehicles will become the commanding point for companies to seize opportunities and win the future.
The importance of product technology is beyond doubt. In 2010, environmental protection and energy saving trends put forward higher requirements for the technology development and transformation of parts and components companies. The global trend of reducing CO2 emissions and improving fuel economy has become an important driver for the development of hybrid and electric vehicles in the future, including drive motors, engine control units, chargers, electric pumps, electric drive systems, and lithium-ion battery packs. All need large parts and components companies to invest in research. New energy vehicles and the State Five emission standards require component manufacturers to develop and produce high quality, environmentally friendly parts and components.
The improvement of product innovation, process innovation, and management innovation capabilities, especially the improvement of key component technology innovation capabilities, can help auto parts companies to have a new market position and occupy a strategic commanding height in the domestic and foreign markets to participate in competition. Well-circulating capital controls will provide stronger support for this competition.
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