West Pump shares leader domestic automobile pump exhaust manifold manufacture

West Pump shares (002536) yesterday held the first road show in Shenzhen, the company's general manager Sun Yaozhong, the company is currently in the domestic automobile pump manufacturing industry, the market share of the long-term ranking number one, in the domestic automotive exhaust manifold market share second. The company's "dragon" Brand is currently the automotive pump and exhaust manifold industry's most famous brand.　　Company main products for the engine pump, engine exhaust manifold production and sales, product coverage of heavy, medium, light, micro, sedan five categories, more than 500 varieties, complete specifications, with 30 national patents, in the application for 5 patents. A wide range of customer resources leading companies in the past three years the main domestic customers covering more than 40 of the most important automotive manufacturers and engine manufacturers, mainly including FAW Volkswagen, Shanghai Volkswagen, SAIC-GM Wuling, FAW Toyota, Guangzhou Auto Group, Dongfeng Group, Weichai Power and so on.　　2010 the company through the German Daimler-Benz assessment, to become the company's China regional suppliers, is expected to be the company's production in Beijing, commercial vehicles, engine products matching. After the financial crisis, the company increased international market development efforts, as of June 2010, the engine pumps, exhaust manifold exports have exceeded the company's sales of 8%, more than the year 2009 level, is expected to reach the 2010 annual sales of 10%. Among them, the exhaust manifold growth rate of more than 100%, automotive pumps have been achieved in bulk export supply.　　The international market will provide a broader space for the development of the company. The company's existing computer three-dimensional mold design technology, efficient automatic casting technology, high-precision machining technology, high-precision pump installation technology and suitable for a variety of complex environmental quality testing technology, in the domestic leading position. In addition, the company also participated in the "internal combustion engine water Pump assembly technical conditions", "internal combustion engine water pump performance test Method" and other national industry standard revision, currently a total of 107 full-time research and development staff, set up a water pump design research and development room, the inlet/exhaust pipe design research and development room　　Product Technology Laboratory, such as a total of 10 professional departments and post-doctoral research workstations. Gross profit margin of 30% above the industry average current domestic automobile pumps, exhaust manifold manufacturing enterprises have more than 100, fierce competition, the industry average gross profit margin of about 20%. Relative to the domestic similar enterprises, the company's main business gross profit margin and comprehensive gross profit margin are maintained at a higher level, and relatively stable.　　2007-2009 The company's main business gross profit margin of 29.31%, 25.44% and 29.55% respectively. Sun Yaozhong Introduction, automotive pumps and exhaust manifold products are the company's most important source of profit, of which the automobile pump products gross margin of the total corporate gross margin of the annual ratio of 58.06%, exhaust manifold products gross margin of the total corporate gross margin of the annual ratio of 33.84%, both accounted for the total gross profit of the company more than 90%. According to 2010 1-June data, the company classified products in the car pump gross profit margin of 31.21%, exhaust manifold of 25.01%, flyThe wheel shell is 25.11%. Borrow the automobile industry product demand is optimistic 2009, 2010 China's auto market has achieved strong growth, the industry is expected to start in 2011, China's auto industry will enter a stable growth phase, the next 5 years, China's auto production and sales will maintain double-digit growth.　　Compared with the whole vehicle, the development of China's parts industry lags behind, the industry scale is far lower than the mature market in Europe and America, along with the development of automobile industry, auto parts market will keep faster growth rate. The future "domestic manufacturing + large-scale + specialization + policy support" will form domestic automobile pumps, exhaust manifold and other products relative competitive advantage.　　Because of the higher labor costs in Europe and the United States (generally accounted for 20%-50% of the cost of products, China's domestic manufacturing labor costs accounted for only 8%-15%), for the popular vehicles or middle and low vehicles, the engine Non-core components from the third party specialized production, in order to reduce production costs, improve production efficiency, has a larger growth space. Sun Yaozhong said, according to China's automotive industry "Twelve-Five" planning, independent brands of parts manufacturers will face important development opportunities, domestic automotive pumps, exhaust manifold industry integration trend has gradually formed, the company will rely on technical quality advantages, specialization scale advantage, customer resource advantages to seize the opportunity to bigger and stronger.