Since the beginning of this year, China’s auto sales have continued to be hot. In the first 10 months, China’s auto sales were 3.0385 million, an increase of 39.96% year-on-year, and the upstream industries of auto parts as consumer goods began to show a reversal. According to international industry experience, the scale of the vehicle and parts scale in the auto industry is 1:1.7, and the auto parts industry has huge room for growth.
Wanxiang Qianchao (3.64, -0.04, -1.09%) (000559) is a constituent stock of Hushen 300 (1754.56, -21.15, -1.19%) (1754.024, -21.69, -1.22%), which is the largest domestic automobile zero Component supplier, Zhejiang Wanxiang Systems Co., Ltd. obtained a 51% stake in Henan Automotive Brake Co., Ltd. through mergers and acquisitions, establishing the position as the leading leader in the domestic brake industry. The company and Japan Shuangri Co., Ltd. jointly established a precision joint venture company. Its business scope is the processing and sales of roller bearings, clutches and Steel Balls for bearings. Both companies plan to develop the company into the world's largest rolling element product company in the next few years. The company’s major shareholder, Wanxiang Group, spent RMB 175 million to increase 62.55 million outstanding shares within two months after the share reform, which guaranteed the company’s absolute controlling share, and also promised that if the net profit in 2006 and 2007 reached less than RMB 150 million. If yuan and 172.5 million yuan, will carry out an additional share, which means that the company's performance will maintain at least 15% growth rate.
In the secondary market, the company's stock price has been arranging for a platform over 3.5 yuan for more than two months. Recently, the trading volume has begun to increase. The average system has formed a long array, and the market outlook is expected to start a substantial breakthrough in the market. (Tohai Securities)
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