This year, the rapid recovery in the automobile industry, Shanghai Automotive (600104) Laptop Battery as the industry's leading company performance is very eye-catching. Yesterday, the Shanghai Automotive vice chairman, president Chen Hong in the interview with this reporter, said that Shanghai Automotive 1-10 months more than 2.18 million sales in the year more than 2.6 million no longer suspense.
For the next year's sales expectations, Chen Hong said that in the first half of next year the situation is relatively clear, the trend of high growth and low inflation is relatively clear, next year's auto market will maintain rapid development, projected passenger growth rate of roughly 15% of , the entire car market growth of 10% or more. If we can maintain the current market share (probably this year, up 21%), Shanghai Automotive sales next year will be more optimistic about the situation.
Chen Hong believes that the current China's passenger vehicle ownership in just thousands of people over 23, according to a number of pilot countries IBM Laptop Battery in the international development path, once the car ownership in more than 20 thousand people, the automobile industry will enter a new period of development. This year three or four-tier cities grow slowly over a second-tier cities, a second-tier cities into a luxury car has been durable consumer goods, while the third and fourth-tier cities automobile consumption began to rise, this process will continue for several years . For China's auto enterprises, and now is the time every fortunate, which Shanghai Automotive's own development is a very big boost. 2014, China's auto market would reach 20 million. 3 million in annual sales volume is no longer a threshold, Shanghai Automotive has begun to consider how to achieve annual sales of 4 million.
Traditional and new energy vehicles with both hands
In recent years, the domestic automobile enterprises IBM ThinkPad A30 battery have proposed to vigorously develop new energy vehicles, Shanghai Automotive also put forward new energy automotive industry-oriented development goals. Chen Hong believes that the key to the development of new energy vehicles is to form an industrial chain competitive advantage. Shanghai Automotive to develop new energy vehicles, is the layout of the whole industry chain, the company will be forming their own management capacity of the battery, the battery industry chain, power transmission drive the development, vehicle integration and the integration of vehicle systems, including new energy vehicles electric air conditioning, ABS, electric power steering, as well as technical improvements.
However, development of new energy vehicles still have a process, the current situation, bigger problem is high cost. This not only needs IBM ThinkPad A31 battery the encouragement of national policy, but also need to follow-up municipal facilities. "No matter how speaking, car companies have seen very clearly that the power of the world's driving the trend is irreversible, the company conform to this trend, do the things to prepare for this fundamental change." Chen Hong said.
Chen Hong also stressed that, instead of conventional cars and new energy vehicles against each other, the automotive industry and related technical conversion, a process that converted from traditional cars to the new energy vehicles, roads and perhaps a long one. Development of new energy vehicles, Shanghai Automotive is mainly valued changes in the future of automotive technology trends. Conventional vehicles, technology optimization also can bring significant results, such as the use of advanced diesel engines, fuel consumption can be reduced by 20%, equivalent to the hybrid mix. Shanghai Automotive conventional vehicles and new energy vehicles in these two areas things have to do a good job.
Own brand Laying a Solid Foundation
To enable the company's own brand bigger and stronger, IBM ThinkPad 600 battery in the market place, executive vice president of Shanghai Automotive, Shanghai Automotive Chih-Hsin Chen, general manager of passenger cars introduced their own brand in the past few years against the background of the rapid development of SAIC, Shanghai Automotive pay more attention to lay a solid foundation. Shanghai Automotive in the United Kingdom, Nanjing, Shanghai and three R & D base has 1,800 R & D personnel, more than 2,000 next year. Own brands is like a white, Shanghai Auto entire marketing system, including the quality of the Department are in reinforce the foundation. Own-brand car sales last year, Taiwan 39000, based on this year, has sold more than 9 million units next year, Shanghai Automotive strive to double, self-brand vehicle sales target of 16 million units, 180,000 units strive to achieve. Laying a Solid Foundation is not only the pursuit of yield, Shanghai Automotive to put this value chain and core competitiveness to create good. In addition, overseas, Shanghai Automotive also test the water, large-scale access to overseas but also according to the strength and IBM 02K7016 battery changes in the situation.
Chen Hong believes that the high-end value chain and strengthen their own brands, while Shanghai Automotive now has a very clear brand strategy, including Roewe, and MG, the difference between the two brands, which has made MG brand is characterized by "found you are different "; the other hand, the need for stronger brand products, support, in the end of the year to the next year, SAIC Roewe have several new products. Hope that next year's Roewe Shanghai Automotive and the MG brand to bring the company more of a brand and size of the leading products.
Finally, Chen Hong said, "there is an issue its own brand, is to be able to a higher level, and to technological innovation. Now we are faced with the products and programs are more general in terms of our resources are still relatively scarce. Shanghai Auto is being consideration should be how to improve resource utilization, and how social resources, international resources, including suppliers fully mobilize the resources. "(Securities Times, Guo Feng Xiao Shan)
Shanghai Automotive first 10 months of self-models 180% sales growth in ultra -
Motor Show opening in Guangzhou, Shanghai Automotive Group President Chen Hong said, as of October of this year, SAIC-vehicle sales reached 2.188 million, an increase of 51%, becoming the first company to achieve national automotive industry policies and regulations into the two million level Automotive Group.
According to the national IBM ThinkPad G40 battery auto industry policy, as requested in the 2010 market competition through the formation of several large-scale internationally competitive automobile enterprise group, specifically on the production volume requirement is a breakthrough vehicle 2 million annual sales. Shanghai automobile production and sales continued to improve under the premise, focusing on the domestic auto market this year, the fast-growing opportunity to further close to the market and users, has made remarkable achievements. In Shanghai GM, Shanghai Volkswagen, SAIC-GM-Wuling, SAIC and other commercial enterprises continue to maintain industry-leading sales performance, while SAIC own brand in this year's results were particularly remarkable. From January to October, Roewe, and MG 2 brand vehicle sales has exceeded 70000, an increase of more than 180%, in particular the Roewe 550, listed only one year, monthly sales stabilized at around 7000 to form a "one car difficult to achieve "a hot situation.
Chen Hong believes that SAIC's own brand, compared with the joint venture brands, though there are still small, they reflect the SAIC's development potential. IBM 08K8026 battery SAIC joint venture and cooperation take full advantage of more than 20 years accumulated experience in technology and management, integration advantages of international and domestic resources, out of an adherence to the "starting point, the difference" of the road of independent brand development, and now the final results, so that SAIC " emphasis on quality, tree brand "development strategy to perfect. SAIC at the Guangzhou Motor Show unveiled MG6, and will be launched next year a series of own brand new. (China Economic Net)
Shanghai Automotive own brand growth in a joint venture brand Qi
Shanghai Automotive shares of major investment vehicle Enterprises (Shanghai GM), production, business automobile transmission, RC30 series gearbox, tractor transmission, steering and other components and vehicle suspension springs and so on. Among them, the automotive industry accounted for 100% of core revenues. China's three major auto manufacturing group, is one of the largest domestic production and sales, most technologically advanced car parts suppliers. Car sales accounted for 15% of the domestic market share. 2009-2011 consolidated earnings per share the company predicted values were 0.90,1.26 and 1.46 yuan, corresponding to dynamic price-earnings ratio of 29,20 IBM ThinkPad T21 battery and 18 times; currently a total of 27 analysts tracking, seven analysts recommend "strong buy", 20 analysts recommended "buy" rating factor of 1.74 consolidated.
Company's first three quarters of total operating income of 38.026 billion yuan, an increase of 56.31%; operating the total cost of 37.401 billion yuan, an increase of 51.05 percent; operating profit of 3.098 billion yuan, an increase of 1084.91%; net profit of 2.913 billion yuan, an increase of 695.07% . Pacific Securities expects a substantial increase in performance is mainly due to three-quarter car sales in 2008 declined rapidly decline in company performance, a lower base.
GF Securities expects 2009 sales of own brand will reach 88000, an increase of 150.84%. Meanwhile, with the company's dual-brand strategy to further in-depth, MG brand is expected to gradually raise awareness of their products are expected by 2010, the company will launch its own brand new products 2-3, in the case of expanding product line will be formed pairs of brand synergy, sales are expected to reach 1.6 million units. In Weijushichang, GF Securities believes that with the gradual escalation of market consumption in rural areas in depth, micro-car will replace the tricycle to a certain extent, as well as the needs of low-speed trucks are expected to micro-car industry in 2010 is expected to continue to grow, but the growth rate of recovery to previous years, about 10% of the average.IBM ThinkPad T20 battery In Weijushichang Company and Changan Automotive Weijushichang two companies market share close to 70%. Consumption in rural areas during the upgrade, the company with its advantage in this market channel is expected to further consolidate its leading position.
GF Securities that Shanghai GM and Shanghai Volkswagen in the market in April of this year, Cruz, in July listed a new LaCrosse, August listed Skoda sharp-ho are at the market this year, climbing stage in 2010 sales are expected to further enhance the , while the new products are in high-end products, in support of sales growth will also further optimize the product mix. GF Securities is expected in 2010, and Shanghai Volkswagen, Shanghai GM sales rose 14% and 10.5%.
With the new products one after another mid-size car market, Shanghai GM's Chevrolet products will be complete in February 2010 prior to the completion and updating of the competitiveness of products have been substantially elevated, thus significantly reduce the dependence on the means of price competition. Shanghai GM, the new product will bring rapid growth in product sales, bicycles profitability improvement and strengthening of economies of scale, thereby driving the profitability level of Shanghai GM to begin a new round of rapid growth; because the public is the brand new product launches, as well as Sri Lanka Kodak brand product lines continue to improve, dual-brand strategy will be driven by Shanghai Volkswagen has entered a new stage of development, because the proportion of new vehicle sales promotion, product strength, the strengthening of high-class cars, as well as the upgrading of scale will be the driving Shanghai Volkswagen goodbye to corporate profits and sales growth does not match the situation; gradually due to product market acceptance, new products, has introduced the company's headquarters will be its own car brand product sales in 2010 increased explosively, and at the same time a large-scale R & D expenditure stage has passed, the Department self-branded business will be profitable by 2010; of the Acer BATCL32 battery Ssangyong Motor Company has conducted a large-scale assets minus total, from a loss of Ssangyong Motor has been fully locked in 2009. All of these factors, will drive the company's earnings from 2010 to start a new round of strong growth.
The domestic auto finance market is a huge gold mine. Orient Securities is expected that by 2019 only a narrow consumer credit market size passenger car products reached 560 billion yuan can be the size; new generation of consumers, thinking fashion, acts of fashion, the living conditions of abundant, very daring consumption, ahead of consumption, will be the consumption concept the mainstream of the traditional Chinese concept of living within our means of consumption will be completely subversive. The narrow concept of passenger car market of potential changes in consumer spending for the automotive consumer credit market booming market has laid a solid foundation; the company's auto finance platform for SAIC Financial, SAIC-GM-finance companies, carrying money advantage, the network advantages, operating experience advantage, market position advantage of the company-owned vehicle will be in the automotive consumer credit market has much to offer career prospects, Acer BATCL32L battery immeasurable, and the company's overall level of profitability have a positive impact, the company earnings growth will become another powerful engine.
Huatai Securities expects 2009,2010 and 2011 can be realized earnings per share, respectively 1.02,1.30 and 1.32 yuan. With years of accumulated experience of joint ventures, the company limitless future development of independent brands, Huatai Securities that can give the company 20 times the dynamic price-earnings ratio in 2010, raised its target price to 26.00 RMB, to maintain the company's "recommended" rating.
Risk Tip: 1) passenger car purchase tax policy in 2010 is lower than the expected negative impact on the industry valuation. 2) If the continued rise in oil prices will adversely affect the car warm.
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