In upstream industries, the prices of raw materials of the auto part industry are determined by the market prices of commodities such as steel, oil and natural rubber. In recent years, the fluctuation of the prices of such resources as iron ore, oil and natural rubber have resulted in a huge fluctuation in the prices of steel, rubber, plastic and other chemical materials, rendering pressure on the stability of the operation of China's auto part industry.
In downstream industries, the rapid development of China's automobile industry in the recent decade has also benefited the rapid growth of the auto part industry. Downstream clients of auto part manufacturing are mainly whole vehicle manufacturers and suppliers of auto parts. The concentration rate of clients is quite high, so auto part companies do not have much bargaining power in negotiations with downstream clients. However, auto part suppliers which have leading advantages in a given segment will improve their bargaining abilities through their market position and technology advantages. Therefore, they are capable of transferring costs to the downstream.
According to this report, there are fixed suppliers of most auto parts that China's automobile manufacturers demand. In the automobile after-market, the major buyer is auto part dealers, which account for over 80%.
China also exports a large number of auto parts. In 2016, the export value of auto parts from China was USD 64.573 billion, accounting for 84.97% of the total export value of automobile products. This shows that the majority of China's automobile export is taken up by auto part export.
In this report, 50 auto parts manufacturers listed in A-share market in China are analyzed.
The report is composed of two parts: the first part is enterprise profiles and the second part is the operation status of these enterprises in the recent decade (presently 2006 to 2016, we will update it to the latest as time goes by).
The operation status is demonstrated from the following perspectives: (1)financial indexes, such as earnings per share, book value per share (BPS), sales per share, net cash flow per share, return on net worth and debt to asset ratio; (2) indexes on the income statement, such as revenue, operating profit, net profit and EBIT; (3) indexes on the income statement, such as revenue, operating profit, net profit and EBIT; (4) indexes on the balance sheet, such as liquid asset, fixed asset, current liability, non-current liability, capital reserve and shareholders' equity.
- Earnings per Share
- Book Value per Share (BPS)
- Sales per Share (SPS)
- Net Cash Flow per Share from Operations
- Net Cash Flow per Share (CNY)
- Return on Net Worth
- Net Profit Margin on Total Assets
- Return on Invested Capital (ROIC) (%)
- Gross Profit Margin on Sales (%)
- Net Profit Margin on Sales (%)
- EBIT Margin (%)
- EBITDA Margin (%)
- Debt to Asset Ratio (%)
- Total Asset Turnover (times)
- Cash/Operating Income Received from Sales of Goods or Services
- YOY Growth Rate of Operating Revenue (%)
- YOY Growth Rate of Operating Profit (%)
- YOY Growth Rate of Net Profit Attributable to Shareholders of Parent Company (%)
2. Summary of Income Statement
- Gross Revenue (CNY, million)
- Total Operating Costs (CNY, million)
- Revenue (CNY, million)
- Operating Profit (CNY, million)
- Total Profit (CNY, million)
- Net Profit (CNY, million)
- Net Profit Attributable to Shareholders of Parent Company (CNY, million)
- Non-recurring Items (CNY, million)
- Net Profit Deducting Non-recurring Items (CNY, million)
- R&D Costs (CNY, million)
- Earnings Before Interest and Tax (EBIT) (Based on iFind) (CNY, million)
- Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) (Based on iFind) (CNY, million)
3. Summary of Balance Sheet
- Liquid Asset (CNY, million)
- Fixed Asset (CNY, million)
- Long-term Equity Investment
- Total Assets (CNY, million)
- Liquid Liability (CNY, million)
- Non-current Liability (CNY, million)
- Total Liability (CNY, million)
- Capital Reserve (CNY, million)
- Surplus Reserve (CNY, million)
- Undistributed Profit (CNY, million)
- Shareholders' Equity (CNY, million)
- Equity Attributable to Shareholders of Parent Company (CNY, million)
4. Summary of Cash Flow Statement
- Cash Received from Sales of Goods and Services (CNY, million)
- Cash Flow from Operations (CNY, million)
- Cash Paid to Purchase Fixed Assets, Intangible Assets and Other Long-term Assets (CNY, million)
- Cash Paid for Investments (CNY, million)
- Cash Flow from Investments (CNY, million)
- Cash Received from Investors (CNY, million)
- Cash Received from Borrowings (CNY, million)
- Cash Flow from Financing (CNY, million)
- Net Increase of Cash and Cash Equivalents (CNY, million)
- Cash and Cash Equivalents, End of Period (CNY, million)
- Depreciation and Amortization (CNY, million)
- China Shipbuilding Industry Group Power Co., Ltd. (600482.SH)
- HUAYU Automotive Systems Co., Ltd. (600741.SH)
- Fuyao Glass Industry Group Co., Ltd. (600660.SH)
- Zhejiang Longsheng Auto Parts Co., Ltd. (002625.SZ)
- Weichai Power Co., Ltd. (000338.SZ)
- Zhejiang Century Huatong Group Co., Ltd. (002602.SZ)
- Zhejiang Wanfeng Auto Wheel Co., Ltd. (002085.SZ)
- Ningbo Joyson Electronic Corp.
- Wanxiang Qianchao Co.,Ltd. (000559.SZ)
- Anhui Zhongding Sealing Parts Co., Ltd. (000887.SZ)
- Weifu High-Technology Group Co., Ltd. (000581.SZ)
- Zhejiang Wanliyang Co., Ltd. (002434.SZ)
- Ningbo Tuopu Group Co., Ltd. (601689.SH)
- Sichuan Hejia Co., Ltd. (600093.SH)
- Aotecar New Energy Technology Co., Ltd. (002239.SZ)
- Camel Group Co., Ltd. (601311.SZ)
- Jiangsu Yunyi Electric Co., Ltd. (300304.SZ)
- Beijing WKW Automotive Parts Co., Ltd. (002662.SZ)
- Hunan Tyen Machinery Co., Ltd. (600698.SH)
- Ningbo Huaxiang Electronic Co., Ltd. (002048.SZ)
- FAWER Automotive Parts Limited Company (000030.SZ)
- Mianyang Fulin Precision Machining Co., Ltd. (300432.SZ)
- Zhejiang Shibao Company Limited (002703.SZ)
- Chongqing Zongshen Power Machinery Co., Ltd. (001696.SZ)
- Changzhou Xingyu Automotive Lighting Systems Co., Ltd. (601799.SH)
- Xin Zhi Motor Co., Ltd. (002664.SZ)
- Zhejiang Asia-Pacific Mechanical & Electronic Co., Ltd. (002284.SZ)
- Dynavolt Renewable Energy Technology Co., Ltd. (002684.SZ)
- Ningbo Shuanglin Auto Parts Co., Ltd. (300100.SZ)
- Huada Automotive Technology Co., Ltd. (603358.SH)
- Guilin Fuda Co., Ltd. (603166.SH)
- Zhejiang Vie Science & Technology Co., Ltd. (002590.SZ)
- Tianrun Crankshaft Co., Ltd. (002283.SZ)
- Ningbo Jifeng Auto Parts Co., Ltd. (603997.SH)
- Nanning Baling Technology Co., Ltd. (002592.SZ)
- Yunnan Xiyi Industrial Co., Ltd. (002265.SZ)
- Steyr Motors Corp. (000760.SZ)
- Shanghai Beite Technology Co., Ltd. (603009.SH)
- Lingyun Industrial Corporation Limited (600480.SH)
- Huangshan Jinma Co., Ltd. (000980.SZ)
- Kunming Yunnei Power Co., Ltd. (000903.SZ)
- Changchun Faway Automobile Components Co., Ltd. (600742.SH)
- Zhejiang Shuanghuan Driveline Co., Ltd. (002472.SZ)
- Zhejiang Jingu Co., Ltd. (002488.SZ)
- Changshu Automotive Trim Co., Ltd. (603035.SH)
- Hmt (Xiamen) New Technical Materials Co., Ltd. (603306.SH)
- Guizhou Guihang Automotive Components Co., Ltd. (600523.SH)
- Zhejiang Xiantong Rubber & Plastic Co., Ltd. (603239.SH)
- Xingmin Intelligent Transportation Systems (Group) Co., Ltd. (002355.SZ)
- Zhejiang Yinlun Machinery Co., Ltd. (002126.SZ)
Background research defines the range of products and industries, which proposes the key points of the research. Proper classification will help clients understand the industry and products in the report.
Secondhand material research is a necessary way to push the project into fast progress. The analyst always chooses the data source carefully. Most secondhand data they quote is sourced from an authority in a specific industry or public data source from governments, industrial associations, etc. For some new or niche fields, they also "double-check" data sources and logics before they show them to clients.
Primary research is the key to solve questions, which largely influence the research outputs. The analyst may use methods like mathematics, logical reasoning, scenario thinking, to confirm key data and make the data credible.
The data model is an important analysis method. Calculating through data models with different factors weights can guarantee the outputs objective.
The analyst optimizes the following methods and steps in executing research projects and also forms many special information gathering and processing methods.
1. Analyze the life cycle of the industry to understand the development phase and space.
2. Grasp the key indexes evaluating the market to position clients in the market and formulate development plans
3. Economic, political, social and cultural factors
4. Competitors like a mirror that reflects the overall market and also market differences.
5. Inside and outside the industry, upstream and downstream of the industry chain, show inner competitions
6. Proper estimation of the future is good guidance for strategic planning.