In addition, some overseas component giants in the Chinese market... “ Fierce attack ” The move has also placed an additional burden on domestic component manufacturers. For example, recently Bosch announced that it will establish a fuel cell center in Wuxi, and its innovation and software R&D center will also be located there, to support Bosch’s business segments in China.

“ The automotive parts industry is currently facing a severe situation, and corporate profit margins are gradually shrinking. ” Shi Jianhua, Deputy Secretary-General of the China Association of Automobile Manufacturers, bluntly pointed out that the auto parts industry itself faces several challenges, including an imperfect industrial structure, difficulties in expanding internationally, a shortage of specialized talent, an underdeveloped aftermarket, and lagging supplier relationships between parts companies and automakers.

Profit margins are narrowing.

According to data from the China Association of Automobile Manufacturers, this year... 11 Monthly automobile production and sales were completed. 259.3 Ten thousand vehicles and 245.7 Ten thousand vehicles, with production increasing year-on-year. 3.8% Sales declined year-on-year. 3.6% ; previous 11 months, the cumulative production and sales of automobiles have been completed. 2303.8 Ten thousand vehicles and 2311 10,000 vehicles, down year-on-year. 9% and 9.1% 。

Ripples in the automotive market “ Coolness ” This has inevitably spread to the upstream parts industry, and many publicly listed auto parts companies have seen their performance decline. According to available data, 2019 Year 10 Month, approximately in the Shanghai and Shenzhen stock markets... 130 Domestic listed companies in the auto parts sector have already released their semi-annual reports. Among them, approximately [a certain percentage] saw a year-on-year decline in net profit. 73.08% 。

Looking at the third-quarter financial reports released by component companies that have since gone public, their business performance has shown no signs of improvement. Our reporter’s analysis reveals that, in addition to... CATL 、 Ningbo Huaxiang With the exception of a few companies, including Huayu Automotive and Joyson Electronics, Zhejiang Shibaо 、 Wanfeng Aowei ), Wanxiang Qianchao The top three listed automotive parts companies this year Quarterly net profits all showed year-on-year declines, with the magnitude of the decline ranging from... 22.58% To 544.85% Not equal.

Overseas Giants “Encircle and Suppress”

In fact, looking at the global market and examining the third-quarter financial reports that have already been made public, even companies like Continental, Delphi, and Magna—global component suppliers— “ Giant ” Enterprises are also experiencing declining performance, and it goes without saying that the industry’s situation is grim.

However, these global component giants seem to be pinning their hopes on the Chinese market and are all stepping up their efforts accordingly.

Take Bosch as an example: Recently, Bosch announced that it will establish a fuel cell center in Wuxi, and its Innovation and Software R&D Center will also be located here. The initial investment will exceed... 3500 Ten thousand yuan, estimated 2020 To be completed and put into use by mid-year.

According to Bosch, the Innovation and Software R&D Center was established specifically for the Chinese market to support Bosch’s business segments in China. The technological solutions developed at the center will also be tailored to meet the needs of the Chinese local market. According to the plan, electrification, intelligent connected vehicles, interconnected solutions, and big data platforms will be the key areas of innovation and R&D for Bosch’s Innovation and Software R&D Center in the future.

According to information on Bosch’s official website, 2018 This year, Bosch operates in China. 59 a company with sales reaching 1126 100 million yuan. As of 2018 Year 12 Moon 31 On that day, the company’s employee count in China was approximately: 60000 China is the country with the largest number of employees for Bosch outside Germany, and it has already become Bosch’s second-largest market worldwide.

In addition to Bosch, recently automotive parts supplier ZF signed an agreement with the Huadu District Government of Guangzhou to establish its third R&D center in China. This move aims to enable ZF to gain a more comprehensive and in-depth presence in the Chinese market and accelerate the transformation and innovation of future mobility solutions. It is reported that ZF will invest in this R&D center. 7 hundred million yuan, and also... 2023 Officially put into operation this year.

11 Moon 21 On [date], Schaeffler announced that it will collaborate with the Xiangjiang New Area in Changsha to build a smart driving industry ecosystem. The company will also establish a wholly-owned subsidiary in Changsha, setting up Schaeffler’s second R&D center for Greater China and the Schaeffler China Smart Driving Research Institute. This means that the German automotive parts giant will focus on advanced autonomous driving and bring all its related technological expertise to China.

Transformation is imminent.

Facing the above “ Internal worries and external threats ” Faced with this dilemma, many experts say that domestic auto parts companies need to explore new directions for transformation and upgrading.

“ Against the backdrop of a comprehensive strategic transformation in the automotive industry, automotive component enterprises—as upstream suppliers in the industry—will face structural shifts in procurement demands from midstream and downstream players, making adaptive transformation an urgent necessity. Whether these component enterprises can effectively manage business risks under the new business models will be the key to their future success. ” Deloitte’s automotive industry risk consulting team believes that automotive component suppliers need to invest in response to changing demands from downstream customers and the industry as a whole, fully embracing the three major driving forces of the energy revolution, intelligent connectivity, and smart manufacturing, in order to meet the challenges posed by the transformation of the automotive industry.

Ping An Securities also believes that, as China’s dual-credit system and Europe’s carbon emission regulations become increasingly stringent, major automakers such as Tesla and Volkswagen are accelerating their electrification efforts. 2021 Each major automaker is putting its electric vehicle platforms into production, and over the next two years... 50 The launch of a brand-new electric vehicle model ushers in a golden period of high-quality development for the electric-vehicle industry chain. This means that transformation into new energy and related fields could become the way forward for automotive parts companies.

In fact, reporters have noted that many auto parts companies have also become aware of this issue and have begun stepping up their efforts in areas such as new energy, aiming to gain a foothold in the automotive industry. “ New Four Modernizations ” Under the wave of change, gain the leverage to seize the initiative.

Recently, the R&D Center of Huayu Automotive Technology officially broke ground in Zhangjiang Science City, Pudong New Area, with a total investment in the construction project reaching... 10.19 100 million yuan, with a total floor area of approximately 10 10,000 square meters, estimated 2022 Year 7 Completion is scheduled for this month. From the perspective of the R&D center, it will focus specifically on the research and development and testing of key components for intelligent connected vehicles, new-energy vehicles, and advanced manufacturing application technologies.

Huayu Automotive told reporters that the commencement of construction on this project will not only enhance Huayu Automotive’s hardware capabilities in R&D and technological infrastructure but also further strengthen the concentration of various innovation resources, including talent, thereby boosting the company’s expertise in key areas such as core components for new-energy vehicles, intelligent connectivity, and smart manufacturing. “ Hardcore ” This capability provides crucial support for Huayu Automotive as it looks toward the future, expands globally, and accelerates its transformation and development.

An industry insider who asked not to be named told reporters that the automotive industry’s ongoing slump is a painful manifestation of the industry’s transformation. For auto parts companies, the downturn in market conditions will indeed affect their financial performance. However, overall, the trend toward large-scale adoption and industrialization of new energy vehicles and intelligent connected technologies is irreversible. The market may also place greater emphasis on growth potential in these areas, so companies need to strengthen their competitiveness in these fields.