Listed auto parts companies may "add another one." The China Securities Regulatory Commission recently announced that the issuing and reviewing committee will review the initial application of Wenzhou Ruiming Industrial Co., Ltd. on November 9.
Auto parts company Wenzhou Ruiming products are the core components of automobile engines such as cylinder heads, intake manifolds and cylinder head covers, and are mainly used by automakers or OEMs. Wenzhou Ruiming intends to issue 26.33 million shares this time. The total share capital after issuance is 1.05 million shares, and the proportion of publicly issued shares in the total share capital after issuance is 25%. The company's raised funds are intended to be used for 1.5 million new auto engine cylinder head fixed assets investment projects annually.
Looking at the Wenzhou Ruiming prospectus of auto parts companies, the company achieved net profit of 31.24 million, 71.22 million, 63.35 million, and 14.96 million in January-June, 2010, 2009, and 2008; the realized earnings per share was 0.68 yuan and 0.37 yuan. , -0.28 yuan, -0.83 yuan. If the A shares are comparable to the Guangdong Hung Tu (002101, share bar) (13.46, -0.52, -3.72%) (002101. SZ), Wanxiang Qianchao (000559, share it) (7.48, -0.14, -1.84%) ( Based on the valuation of the listed auto parts companies, etc., it is estimated that the issued price-earnings ratio of Wenzhou Ruiming is approximately 30 times, and that of its earnings per share at the end of 2010 is equivalent to the issuance price of approximately 11.1 yuan.
Wenzhou Ruiming, an automotive parts company, said in the prospectus that during the reporting period, the company's operating performance was good, and both operating income and net profit maintained a relatively high growth rate. However, looking at the prospectus, it is a matter of time.
The prospectus shows that the main product of Wenzhou Ruiming, an auto parts company, is a passenger car engine, and it has established a relatively stable leading position in the engine parts market for passenger cars with a displacement of 1.6 liters and below. However, it is not optimistic that under the background of the growth in the sales volume of passenger cars in China from 2008 to 2010, the market share of cylinder heads and intake manifolds of Wenzhou Ruiming's main products has declined steadily. According to pre-disclosure materials, sales of passenger vehicles in China rose from 6.73 million units to 13.89 million units in 2008, of which the production of 1.6-liter and lower displacement passenger vehicles increased from 4.19 million units to 9.46 million units, and sales volume basically doubled. The market share of passenger cars produced by Wenzhou Ruiming in the overall market share of passenger cars decreased from 8.29% in 2008 to 5.15% in 2010, and the market share in the passenger cars with 1.6L and below displacement also dropped from 12.18%. 7.57%. The company's product intake manifold fell from 10.37% of market share in 2008 to 8.29% in 2010.
The market share of cylinder heads and intake manifolds of the company’s main products continued to decline. Obviously, Wenzhou Ruiming’s industry competitiveness has not been effectively maintained. This Wenzhou Ruiming said that because the company is constrained by the financial bottleneck, it is still unable to meet the needs of customers in an effort to increase investment in machinery and equipment and optimize the production process. If the issuance is successful, the company will actively implement the raised capital investment project and vigorously expand the production capacity of the cylinder head of the company's superior product passenger car engine to solve the company's current production bottleneck.
In addition, the main raw material for auto parts company Wenzhou Ruiming products is aluminum ingots, which account for about 50% of the total production cost. The purchase price of aluminum ingots is a sensitive factor for the change in gross profit. According to the prospectus, Ruiming Wenzhou's consolidated gross profit margin in 2010 was 4.31% lower than that in 2009, and the comprehensive gross profit rate in January-June 2011 was 1.42 percentage points lower than that in 2010. The price of aluminum ingots rose by about 25% in 2010, and the increase in unit cost reduced the gross profit rate of cylinder heads by 8.22 percentage points. From January to June 2011, the prices of aluminum ingots continued to rise, and the company’s main gross profit margins declined slightly. The prospectus shows that from January to June this year, the price of aluminum ingots purchased by Wenzhou Ruiming was 15,000 yuan/ton. Check the current market price of aluminum ingots, has exceeded 16,000 yuan / ton. According to industry sources, the gross profit margin of the auto parts industry is generally not high, and the rise in raw material prices will exert pressure on the company.
In recent years, with the rapid development of the automotive industry, auto parts companies have successively landed on the capital market.
In the case of auto parts companies getting listed, the regulators tend to be stricter. Since the beginning of this year, IPOs of auto companies such as Baolong Auto, Luen Ming Machinery and Shengrui Drive have been rejected, reflecting the potential risks of cyclical fluctuations in the industry and dependence on large customers.
In addition, the auto industry is closely related to the macroeconomic fluctuations. With the gradual withdrawal of automobile consumption incentive policies, the growth rate of auto production and sales will slow down, which will have a significant impact on the development of auto parts companies, and the risk of inflection points in the industry will increase.
The three quarterly reports of listed auto parts companies also confirm the hidden troubles in the inflection point of the industry performance. According to incomplete statistics, nearly 50 percent of the listed auto parts companies have experienced a decline in net profit. In this regard, industry sources said that, whether from the perspective of car sales, or the observation of the net profit of listed companies, the current vitality of the automotive industry began to weaken, performance inflection point looming.
Auto parts company Wenzhou Ruiming products are the core components of automobile engines such as cylinder heads, intake manifolds and cylinder head covers, and are mainly used by automakers or OEMs. Wenzhou Ruiming intends to issue 26.33 million shares this time. The total share capital after issuance is 1.05 million shares, and the proportion of publicly issued shares in the total share capital after issuance is 25%. The company's raised funds are intended to be used for 1.5 million new auto engine cylinder head fixed assets investment projects annually.
Looking at the Wenzhou Ruiming prospectus of auto parts companies, the company achieved net profit of 31.24 million, 71.22 million, 63.35 million, and 14.96 million in January-June, 2010, 2009, and 2008; the realized earnings per share was 0.68 yuan and 0.37 yuan. , -0.28 yuan, -0.83 yuan. If the A shares are comparable to the Guangdong Hung Tu (002101, share bar) (13.46, -0.52, -3.72%) (002101. SZ), Wanxiang Qianchao (000559, share it) (7.48, -0.14, -1.84%) ( Based on the valuation of the listed auto parts companies, etc., it is estimated that the issued price-earnings ratio of Wenzhou Ruiming is approximately 30 times, and that of its earnings per share at the end of 2010 is equivalent to the issuance price of approximately 11.1 yuan.
Wenzhou Ruiming, an automotive parts company, said in the prospectus that during the reporting period, the company's operating performance was good, and both operating income and net profit maintained a relatively high growth rate. However, looking at the prospectus, it is a matter of time.
The prospectus shows that the main product of Wenzhou Ruiming, an auto parts company, is a passenger car engine, and it has established a relatively stable leading position in the engine parts market for passenger cars with a displacement of 1.6 liters and below. However, it is not optimistic that under the background of the growth in the sales volume of passenger cars in China from 2008 to 2010, the market share of cylinder heads and intake manifolds of Wenzhou Ruiming's main products has declined steadily. According to pre-disclosure materials, sales of passenger vehicles in China rose from 6.73 million units to 13.89 million units in 2008, of which the production of 1.6-liter and lower displacement passenger vehicles increased from 4.19 million units to 9.46 million units, and sales volume basically doubled. The market share of passenger cars produced by Wenzhou Ruiming in the overall market share of passenger cars decreased from 8.29% in 2008 to 5.15% in 2010, and the market share in the passenger cars with 1.6L and below displacement also dropped from 12.18%. 7.57%. The company's product intake manifold fell from 10.37% of market share in 2008 to 8.29% in 2010.
The market share of cylinder heads and intake manifolds of the company’s main products continued to decline. Obviously, Wenzhou Ruiming’s industry competitiveness has not been effectively maintained. This Wenzhou Ruiming said that because the company is constrained by the financial bottleneck, it is still unable to meet the needs of customers in an effort to increase investment in machinery and equipment and optimize the production process. If the issuance is successful, the company will actively implement the raised capital investment project and vigorously expand the production capacity of the cylinder head of the company's superior product passenger car engine to solve the company's current production bottleneck.
In addition, the main raw material for auto parts company Wenzhou Ruiming products is aluminum ingots, which account for about 50% of the total production cost. The purchase price of aluminum ingots is a sensitive factor for the change in gross profit. According to the prospectus, Ruiming Wenzhou's consolidated gross profit margin in 2010 was 4.31% lower than that in 2009, and the comprehensive gross profit rate in January-June 2011 was 1.42 percentage points lower than that in 2010. The price of aluminum ingots rose by about 25% in 2010, and the increase in unit cost reduced the gross profit rate of cylinder heads by 8.22 percentage points. From January to June 2011, the prices of aluminum ingots continued to rise, and the company’s main gross profit margins declined slightly. The prospectus shows that from January to June this year, the price of aluminum ingots purchased by Wenzhou Ruiming was 15,000 yuan/ton. Check the current market price of aluminum ingots, has exceeded 16,000 yuan / ton. According to industry sources, the gross profit margin of the auto parts industry is generally not high, and the rise in raw material prices will exert pressure on the company.
In recent years, with the rapid development of the automotive industry, auto parts companies have successively landed on the capital market.
In the case of auto parts companies getting listed, the regulators tend to be stricter. Since the beginning of this year, IPOs of auto companies such as Baolong Auto, Luen Ming Machinery and Shengrui Drive have been rejected, reflecting the potential risks of cyclical fluctuations in the industry and dependence on large customers.
In addition, the auto industry is closely related to the macroeconomic fluctuations. With the gradual withdrawal of automobile consumption incentive policies, the growth rate of auto production and sales will slow down, which will have a significant impact on the development of auto parts companies, and the risk of inflection points in the industry will increase.
The three quarterly reports of listed auto parts companies also confirm the hidden troubles in the inflection point of the industry performance. According to incomplete statistics, nearly 50 percent of the listed auto parts companies have experienced a decline in net profit. In this regard, industry sources said that, whether from the perspective of car sales, or the observation of the net profit of listed companies, the current vitality of the automotive industry began to weaken, performance inflection point looming.
Suspended Platform consists of various of Suspended Platform Parts, such as suspension mechanism,hoist,safety lock,electric control box and platform.They have resonable structure and they are easy to operate.According to the actual needs,they are arbitrarily assembled and disassembled.Suspended platfrom applies to exterior wall construction,decoration,cleaning and maintance of high-rise buildings.
Safety Lock,Suspended Platform Spare Parts,Working Platform Safety Lock,Suspended Platform Hoist Motor,Suspended Platform Brake Disc
SHEN YANG BAOQUAN BUSINESS CO., LTD , https://www.sytoplesstowercrane.com