In 2008, it was an extraordinary year for commercial and commercial vehicle engine and component companies. After a short period of “prosperity†in the first half of the year, with the implementation of the National III Standard in July, it quickly entered the “depression†period of July-August. According to the traditional law, entering September is the “golden season of production and sales†for commercial vehicles and commercial vehicle engines and parts and components companies. However, the financial tsunami that has swept the world has involved commercial and commercial vehicle engines and parts and components companies. "The trough" was influenced by it, and the Pistons market also "fluctuated."
In 2008, the production and sales of piston engines for commercial vehicle engines were 13 million and 12.95 million respectively.
According to the 1:1 ratio between the host and maintenance, the production and sales of commercial vehicle engine pistons in 2008 were 26 million and 25.9 million respectively.
Piston business environment
In recent years, with the rapid growth of the domestic automobile market and engine industry, the piston market of China's commercial vehicle engines has also been continuously enlarged and has achieved rapid development. At the same time, the Pistons industry has generally suffered severe tests such as the main raw material prices have been maintained at high levels, cost pressures have increased, capital is tight, and market competition has become increasingly fiercer. Therefore, despite the fact that each piston company “compensated more than three or five fights†over the same period last year, due to the influence of many unfavorable factors such as the price increase of digested raw materials, “the increase in production did not increase revenueâ€, profitability and level have decreased significantly, profits have been further diluted, and operating environment Deteriorating.
Cost pressure
Since the fourth quarter of 2005, the prices of major non-ferrous metals and precious metals have risen sharply again. The prices of copper, zinc and lead all hit record highs, and aluminum and gold prices also hit new highs for more than a decade. Global non-ferrous metal consumption growth has been operating at a high level. At the same time, the prices of major domestic raw materials have remained high, and the upward adjustment of energy prices such as coal and electricity has inevitably led to an increase in the cost of piston companies. Therefore, the issue of cost has always been a major problem that plagues domestic piston companies in recent years. Hunan Jiangbin Machinery (Group) Co., Ltd. is a specialized enterprise that produces and operates high and mid-range diesel engine pistons, gears, and oil pumps. Since 2006, even though the company has further intensified cost management and continued to implement the “Cost Storm Actionâ€, the company paid a tens of millions of yuan in the price of main raw material prices each year in 2006 and 2007. The second is the risk of price cuts passed on by the entire vehicle and the OEMs. The price of automobiles has been declining. Each vehicle and each OEM has passed its price reduction risk to various auto parts companies in order to ensure their own interests. Therefore, the prices of piston products have also been declining. The annual decline rate is about 5%. The company's profit margins continue to shrink. Third, the cost of product upgrades and structural adjustments has increased. In order to meet the needs of national security, environmental protection, and energy saving, especially with the gradual implementation of National III and National IV standards throughout the country, the industry and market demand for Piston's safety, environmental protection, and energy saving are increasing, which inevitably leads to piston companies. Product upgrades and structural adjustments require corresponding technological changes. This undoubtedly fundamentally increases the investment of piston companies in the scientific and technological content of products, leading to increased costs.
Second, huge financial pressure. In recent years, from the perspective of the domestic macroeconomic environment and policies, the central government has been implementing a prudent fiscal policy and a tight monetary policy. This means that it may be more difficult for companies to apply for loans from banks. With the continuous expansion of Piston's business scale, increase in investment in technological transformation, taxation, labor costs, and various expenses, the demand for capital will also increase, and the company's production and operation will face tremendous pressure from shortage of funds.
Market pressure
First, with the gradual implementation of the National III and National IV standards throughout the country, the peak of the “upgrading of automobile engines†has come. Therefore, the current domestic production capacity of the major piston companies may not be able to meet the market demand, and supply capacity will generally be tight. The second is the increasing competition in the piston industry. From the internal perspective of the industry, domestic piston companies have the same competition of multinational auto parts giants. International multinational auto parts giants have successively established research and development centers in China, gradually completed the strategic layout of the Chinese market, and began to get used to “China. Water and land, they have won more market share with their strong technology, brand, international channels, and service advantages; afterwards, some second- and third-tier piston companies along the coast rely on their low-cost advantages to domestic mainstream pistons. If a company launches a fierce shock, it will be at risk of being swallowed up by the market at any time if it cannot accelerate its development.
The basic situation of the piston company
· Shandong Binzhou Bohai Piston Co., Ltd. is the only listed company that uses the internal combustion engine piston as its leading product. The leading product Φ30mm-Φ350mm high-performance piston, with more than 1,000 varieties and an annual production capacity of 30 million pieces, is widely used in various automobile, motorcycle, shipbuilding, engineering, military, and other power machinery fields. It is Xichai, Dashii, and Xun. Chai, Shangchai, Yuchai, Dongfeng Chaochai, and other well-known domestic and foreign host manufacturers supporting, and established a network of more than 100 social accessories marketers nationwide. The company's comprehensive market share reached 30%, of which, the market share of heavy-duty trucks supporting the host market exceeded 40%.
In 2006, the production volume of major pistons was 13.03 million. In 2007, calculated in 25% increments, the output of major pistons was 16.3 million, a year-on-year increase of approximately 7% in 2008, and the production of major pistons was approximately 17.44 million.
In the next 510 years, Shandong Binzhou Bohai Piston Co., Ltd. will retain its “leading†position in the middle and low engine piston market, especially with the advantages of its listed companies, local government support, and its own brand, marketing channels and other advantages. The car piston market will develop rapidly, but in the middle and high-grade diesel engine piston market, although it has good performance, its market share will rank third, and the total market share will reach about 25%.
·Mahler is the world's largest piston development manufacturer. Mahle has established 11 factories in Nanjing, Chongqing, Guangzhou, Tianjin, Shanghai and other places since 1999. Production of engine parts and accessories such as pistons, bearings, and fuel filters. Currently, 10 million pistons are assembled in China each year to supply GM, Ford, Dai-Ke, Volkswagen, Nissan, Toyota and many other domestic joint venture brands. In May 2006, the MAH China Regional Headquarters and Technology Center was established in the Shanghai Integrated Industrial Development Zone to further accelerate the pace of its entry into China. At present, the market share of Mahle Pistons in China ranks second, reaching over 20%. It is estimated that in 2008 China's market sales will reach 160 million euros, and in 2009, the sales volume in the Chinese market will reach 250 million euros. In the next few years, Mahler plans to continue setting up factories in China to increase production capacity. By 2010, Mahler's sales in China are expected to be more than three times that of 2005.
Therefore, in the next 510 years, with the further improvement of Mahle's layout in China, especially after further adapting to the “soil and water†of the Chinese market, it will rapidly develop its mid-to-high-end diesel engine with its unique advantages in technology, capital, and brand. The market share of the piston market will rise to the second place, with an overall market share of more than 30%.
· Hunan Jiangbin Machinery (Group) Co., Ltd. is a large-scale enterprise directly under the China Weaponry Equipment Group Corporation. It is a specialized enterprise for high-performance engine pistons, gears, oil pump assemblies, and other components in fixed-point production operations. Jiangbin is the earliest company to introduce piston design and manufacturing technology from abroad.
The company's products have been widely used in automotive, marine, construction machinery, generators and other fields. The products have established long-term and stable supporting cooperation relationships with Yuchai, Weichai, and Xichai's more than 20 well-known domestic enterprises and special engine enterprises. Products are also partially exported to the United States, Italy, Lithuania, the Middle East, Southeast Asia and other countries and regions.
In the next 510 years, Hunan Jiangbin Machinery (Group) Co., Ltd., with the support of China Southern Industrial Automobile Co., Ltd., will use its unique "focus on pressurization, focus on environmental protection," as well as its own brand, marketing channels and other advantages to lead with technology. Modern production gathers all kinds of resources to provide high-quality engine parts and products and services for customers such as automobiles, ships, construction machinery, and defense industries, and to become an auto parts supplier with international competitiveness and brand influence. There will be new breakthroughs in the gasoline engine piston market; at the same time, it will rapidly develop in the middle and high-grade diesel engine piston market, its market share will rise to the top position, and the total market share will reach more than 45%.
Piston Market Opportunities and Challenges
1. From the perspective of expanding investment and boosting domestic demand, the Party Central Committee and the State Council have issued 10 measures to expand domestic demand in order to promote stable and rapid economic growth. Initial calculations, by the end of 2010 will invest 4 trillion yuan. In order to speed up the construction progress, the central government will increase investment in the first quarter of this year by 100 billion yuan. The disaster recovery fund for the next year will arrange 20 billion yuan in advance to drive local and social investment, with a total scale of 400 billion yuan. In fact, large-scale investment has already begun. According to statistics, Beijing, Shanghai, Guangdong, Zhejiang and other 12 key provinces and cities, in about 100 days, a total of 1,482,200,000 yuan investment projects approved or started. Among them, whether it is the construction of the railway with the highest investment amount, or the subway and affordable housing construction projects, a large number of commercial vehicles will be purchased, and commercial vehicle enterprises can benefit from it.
2. From the perspective of national financial policies, the state will implement a proactive fiscal policy and a moderately loose monetary policy. The relevant person in charge of the People's Bank of China stated that the current implementation of a moderately loose monetary policy is to timely and appropriately adjust the operation of monetary policy according to changes in the situation, ensure the steady growth of money and credit and adequate liquidity of the financial system, promote stable and rapid economic growth, and support the expansion of domestic demand. To maintain currency stability and financial stability, and increase financial support for economic growth.
3. From the perspective of national fiscal and taxation policies, the 100 billion tax reduction plan has been approved, and all industrial and commercial enterprises will benefit from it, encouraging enterprises to increase investment and advance technological progress. The main content of this VAT reform plan is that, starting from January 1, 2009, all VAT general taxation will be allowed nationwide (regardless of region and industry) on the premise of maintaining the current VAT rate unchanged. The person deducts the input tax amount of the new purchase equipment, and the deducted input tax will continue to be deducted in the next period.
4. The new rural construction has provided a broad market for the commercial vehicle market. The recent closing of the Third Plenary Session of the 17th CPC Central Committee passed the decision to promote the reform and development of rural areas. Once the new land system reform is started, it will increase the retail sales of consumer goods in townships and below at county level or above to more than 1 trillion yuan. This is another great positive advantage for all consumer goods markets such as automobiles. At the same time, the transfer of land management rights will promote the birth of a new sunrise industry, modern agriculture, resulting in a wide range of industrial chain, which is exactly what the auto market dreams of opportunities.
The challenge is mainly reflected in the reduction of exports. Due to the impact of the international financial crisis, the export of commercial vehicles in China will face severe challenges. In 2009, the export volume will be greatly reduced.
Affected by the country’s expansion of investment and stimulating domestic demand policies, the adjustment period of the commercial vehicle market will be greatly shortened. After a brief adjustment in the second half of 2008 and January 2009, 2009 and March will become “inflection points†for its development. It will enter the fast development track again.
It is estimated that in 2009 the production and sales of commercial vehicle engine pistons will be 17.7912 million and 17.910 million respectively.
In addition, the production and sales of the commercial vehicle engine piston repair market in 2009 is expected to be: production and sales of 10.78272 million pistons and 10.7046 million.
Therefore, in 2009, the total production and sales volume of pistons for commercial vehicle engines will reach 8,873,292 and 28,864,600 respectively.
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