Yan-sheng Liu: Forge Ahead And Win The Future For The Sector Shaft - Drive Shaft, Construction

Yan-Sheng Liu, chairman: China Car Industry Association

, China Association of Automobile Shaft Committee vice chairman, vice chairman of the automotive industry in Henan Province, Henan Province, outstanding private entrepreneurs, Xuchang City, the ninth installment of top-notch professional and technical personnel

Present, the automotive industry and Construction Machinery Strong growth in industry demand, drive shaft as the car parts and engineering machinery products, the simultaneous increase in demand for the development of the situation is gratifying. Far East Drive (002 406) as a non-constant speed drive shaft into industry leaders about China's securities market, no doubt by the majority of investors. Issued shares in the company, I am an exclusive interview with the Far East Drive Shaft Co., Ltd., Xuchang Mr. Liu Yansheng, ask him to answer investor concerns.

Shaft industry market prospects Yan-Sheng Liu, Chairman, said, gearbox and drive shaft is connected Drive axle , Transmission torque and rotational movement of the important parts. To ensure safe operation of vehicles on the drive shaft in the dynamic balance, torsional stiffness, wear, fatigue and so have higher requirements.

Shaft rotation speed according to whether or not divided into the isokinetic isometric and non-constant velocity drive shaft drive shaft. Driving Shaft used cars, non-constant velocity drive shafts used commercial vehicles and construction machinery. R & D company dedicated to the production of non-constant speed drive shaft, accumulated technology and process advantages, customer base covers most of the commercial vehicle and construction machinery OEMs, engineering machinery and heavy truck market share, respectively, supporting 56% and 20%.

Yan-Sheng Liu said that in recent years, the company as to seize the cars and construction machinery industry of China developed rapidly in the historical opportunity, in management, technology, production, Marketing Continuously improve and perfect and so established the non-constant speed drive shaft in the domestic market leader supporting the host status of outstanding profitability. Company is currently extending upstream through the distribution chain and the national network to further enhance the competitive edge (310,368, funds it).

Forecast for the industry, Yan-Sheng Liu confident that benefit from China's "15", "Eleventh Five-Year" period of rapid economic growth of the domestic heavy truck and all kinds of construction machinery increased rapidly, on the transmission Axis product demand, and the Far East non-constant speed drive shaft products are mainly used for commercial vehicles and engineering machinery, with the lower reaches of the host increased production and sales and ownership in the future the demand will maintain rapid growth.

Yan-Sheng Liu said while the company has gradually expanded production capacity to 140 million units, but still can not meet the strong demand. Raising funds become available, it will further expand the company's assets to optimize financial structure, improve the company's overall competitive strength and ability to resist risks. The raised funds will invest in the Far East Division and a total of 1.5 million sets of Weifang drive shaft and the ZTE project forging forging 20,000 tons. With the production release, will ease the production bottleneck. The future will be through supporting customers and developing new export markets to get more orders for maintenance.

Efficiency advantages into competitive advantages Yan-Sheng Liu, chairman, said in 2009 worldwide Financial Crisis, net profit of 130.6 million yuan, up 39.54 percent. Companies to seize the country "car to the countryside" and industrial policy opportunity, timely adjustment of product structure and improve the light trucks, pickups and SUV series Sell Income. A few years ago because production capacity constraints, the main energy companies are focused on the heavy trucks and engineering machinery products supporting the future with the continuous release of production capacity, the company will further develop in the light market.

He said the company's competitive advantage lies in several areas: first, the technology leader in technology. Has been working non-constant speed drive shaft R & D production, through long-term technology accumulation, has been leading the drive shaft has a manufacturing technology, the overall level of international access Track . The company has 10 utility model patents and two design patents. Spline nylon coating technology, gear technology and the drive shaft end flange welding technology has a leading position in the industry. Through many years perfecting the design process and production lines to form a unique "U-type NC A flow line", which effectively improved the production efficiency. In recent years, manufacturers closely with the host Cooperation To jointly develop a variety of new types of shafts, in strengthening cooperation and communication between the host, while manufacturers to consolidate the company's products, competitive position. Second, the forging distinct advantages. Shaft manufacturing process, forging and metal processing are the key processes. The positive aspects of the company to extend the industrial chain of rough forgings. ZTE Corporation 2007, forging a wholly owned subsidiary has been actively expanding production capacity, its main business is forging blank for the companies to help reduce costs and enhance profitability. Thirdly, better cost management, profitability, excellent. Company through lightweight design, optimization process, to strengthen the procurement control methods to reduce the impact of rising raw material prices. 2006-2009 profit margins remained at 28%. Fourth, the joint hosts vendors nationwide distribution network. OEMs around the company to gradually set up production bases nationwide distribution network, reduce logistics costs. Joint venture with the OEMs to reduce the potential competitors, customers get the maximum market share and achieve sustainable development.

About the company's financial data, Yan-Sheng Liu, Chairman relish :2007-2009 operating income CAGR of 22.37%, net profit compound growth rate of 55.77 percent, the company's growth capacity than the overall industry . In profitability, the 2008 and first half of 2009, profit margins, return on net assets and net profit margin is better than the industry average, the overall good operational capacity. The inventory turnover rate and total asset turnover than comparable listed companies.

Future strategic layout About the company's future development, and Yan-Sheng Liu, chairman, said the company will continue to focus on the automobile, engineering machinery transmission shaft product development and production, in consolidating the leading position of non-constant speed drive shaft, while the constant speed drive shaft R & D development of production; to headquarters as the key process in Xuchang processing base, the radiation assembly plant to build production and marketing networks; in the consolidation of the domestic market based on the expansion of overseas markets into the global auto parts procurement system, committed to excellence in product performance services at home and abroad host manufacturers, creating the world's leading supplier of transmission shaft.

Yan-Sheng Liu confident that, considering the company issuing and listing process and to raise funds construction projects and the current status of the host market, in 2011 the company will form an annual output of 2.5 million sets of shaft capacity, operating income of 1.1 billion.

Yan-Sheng Liu, chairman of stress

by: gaga

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