The hottest industry shifts to the Asia Pacific, c

Industry shifts to the Asia Pacific "Wu re" China's tire enterprises

industry shifts to the Asia Pacific "Wu re" China's tire enterprises

China Construction machinery information

Guide: China's tire industry started late, but developed rapidly. Since 2004, the output and export volume of tires in China has ranked first in the world. At the same time, China's tire production technology continues to improve, scientific and technological achievements continue to emerge, and many production processes have reached the world's advanced level. At present, China has

China's tire industry started late, but developed rapidly. Since 2004, the output and export volume of tires in China has ranked first in the world. At the same time, China's tire production technology continues to improve, scientific and technological achievements continue to emerge, and many production processes have reached the world's advanced level. At present, China has been able to produce more than 2000 specifications of five series of passenger car tires, truck tires, industrial tires, agricultural tires and engineering machinery tires with radial and bias structures, and has formed a relatively complete tire industry system. We are optimistic about high-quality tire production listed companies, such as Fengshen (600469, Guba), Guizhou tire a, Qingdao Shuangxing (000599, Guba) and shuangqian (600623, Guba), etc

the tire industry is shifting to the Asia Pacific region

at present, the Asia Pacific region, Europe and North America are the main production and consumption regions of the world tire industry, showing a tripartite situation. However, the tire industry is a labor-intensive and technology intensive traditional industry. In developed countries such as Europe, America and Japan, wages account for a high proportion of production costs, such as 33% in the United States and 45% in Germany. The high cost brought by high wages has affected the competitiveness of products. By contrast, the Asia Pacific region has low-cost and high-quality labor resources

from the perspective of recent development, the increase in tire production and sales in Europe and North America is very small, and the tire industry has shifted significantly to the Asia Pacific region. Take North America as an example, in 1999, the sales volume of tires in this region was 351million, accounting for 35.96% of the world's 976million; In 2005, the sales volume in this region was 365 million, accounting for 33.73% of the world's 1.082 billion, while the sales volume in the Asia Pacific region increased by a large proportion in the same period

with the gradual transfer of the world tire industry to developing countries such as China, developing countries will have more advantages in tire manufacturing. According to the 2007 Global Top 75 tire rankings, Bridgestone, Michelin and Goodyear, the three world tire giants, are still in the first group; The ranking of the top 16 tires in Chinese Mainland has further advanced. For example, the sales revenue of Hangzhou Zhongce increased by nearly 50% in 2006, exceeding US $1billion for the first time, reaching US $1.08 billion, rising from 23rd to 14th; The ranking of more than 10 other companies also increased. In this way, the total revenue of the top 16 tire companies in Chinese Mainland surpassed that of the fourth ranked German mainland company in 2006

China has become the focus of development

since the 1990s, China has become the focus of the development of the tire industry in the Asia Pacific region. Foreign capital and private capital have entered China's tire industry, and the world's top ten tire enterprises have all invested and built factories in China. Take Bridgestone, which cannot be naturally degraded, as an example. By 2005, it had three tire factories in Shenyang, Tianjin and Wuxi, China, and signed a cooperation agreement with Guangdong Daya Bay Economic and Technological Development Zone on the car tire project, with a total investment of 140million US dollars. In 2005, Bridgestone accounted for 10% of the passenger car market in China, and the company plans to increase this proportion to 30% by 2010

at the same time, China's tire production technology continues to improve. This is mainly reflected in the continuous emergence of tire scientific and technological achievements, and many production processes have reached the world's advanced level. Among them, the independent development ability of the tire industry has been continuously enhanced, and the product design has reached the world advanced level; The pattern low noise design has reached the international advanced level; The development and application of low heat generation formula using nanotechnology is close to the level of continental tire company of Germany; The rubber mixing process is close to the level of Michelin company of France; Tire nitrogen vulcanization has reached the world advanced level. In addition, the meridian rate of China's tires is also rising steadily

however, we should also see that the development of the world tire industry is largely controlled by large international tire companies, and tire giants have a high market share in the world as the former king. In 2005, the world's tire sales were $101 billion, and the sales of the top ten tire companies reached $77.742 billion, accounting for 76.97%. In the future, the trend of large-scale and collectivization of tire enterprises will be increasingly intensified, and the monopoly degree of the tire industry will be further improved. However, China's tire enterprises are not strong, which is highlighted by the relatively small scale of domestic tire enterprises compared with international giants; At the same time, the market position of state-owned tire enterprises needs to be improved urgently

key companies recommend

Aeolus (600469): in the world tire industry, the company is in the middle and upper reaches. Among domestic tire enterprises, the competitive advantage of the company is reflected in the components in Table 1 in terms of engineering tires and truck tires. In the future, the development of the company will extend to the main industry of tires, forming an industry system dominated by tire rubber. Specifically, the company will focus on establishing three systems: first, implement brand strategy and strictly control the quality system; Second, establish a marketing network system and an after-sales service system; Third, build a characteristic system supporting the automobile and chemical industries

in September 2007, due to horizontal competition and other issues, Fengshen's non-public offering of shares was not approved. In order to safeguard shareholders' rights and interests, the company's private placement project is still launched as planned, and new projects are also being launched. The Fengshen project with an annual output of 150000 sets of all steel radial tires and the passenger radial tire project with an annual output of 5million sets have broken ground on September 10, 2007. The radial tire project of the project is expected to be partially put into production in 2008, and reach full production by the middle of 2009 at the latest. The annual revenue to the company after reaching production will exceed 1.5 billion yuan. We expect that the passenger car project will be launched in the second half of 2008 and will generate benefits in 2009

the number of additional shares issued this time shall not be less than 25million shares and not more than 120 million shares. The net amount of raised funds shall not exceed 1353.5 million yuan. Among them, Haohua group, the major shareholder, subscribes no less than 25million shares and no more than 30million shares at a subscription price of 11.82 yuan, and other institutions subscribe for additional shares at a price of no less than 11.82 yuan. Considering that substantive mergers and acquisitions have begun, regardless of dilution factors, we expect the company's EPS to reach 1 yuan this year and 1.5 yuan next year. We maintain the "buy" rating of Fengshen shares