On March 2, it was reported in the market that Byd Company Limited(002594) established two new companies in Changsha, with business scope including auto parts R & D and registered capital of 50 million yuan Byd Company Limited(002594) confirmed the news to the reporter of Securities Daily.
In addition to Changsha, recently Byd Company Limited(002594) successively set up auto parts companies in Xi'an, Changzhou and other cities where major production bases are located. Behind this, Byd Company Limited(002594) is stepping up the layout of the middle reaches of the new energy industrial chain and accelerating the formation of a closed-loop industrial chain from raw materials to parts and components to vehicle design and manufacturing.
Zhang Xiang, a researcher at the automotive industry innovation research center of Northern University of technology, told reporters that new energy vehicles drive the development of parts industry. For Byd Company Limited(002594) auto parts company, based on the business guarantee provided by the parent company, it can develop new customers to the market, so as to further develop and grow.
new auto parts subsidiaries
are all located in the production base
According to tianyancha data, on March 1, Changsha Xingchao Automobile Co., Ltd. and Changsha Byd Company Limited(002594) Auto Parts Co., Ltd. were established, with a registered capital of 50 million yuan, legal representatives of he Zhiqi and Luo Zhongliang respectively, and their business scope includes: R & D and manufacturing of auto parts; Sales of new energy vehicles; Electric vehicle charging infrastructure operation, etc. In terms of equity, the two newly established companies are wholly owned by Byd Company Limited(002594) Automobile Industry Co., Ltd.
It is worth mentioning that he Zhiqi is the president of Byd Company Limited(002594) automobile division and currently serves as the legal representative of Byd Company Limited(002594) Automobile Co., Ltd. Luo Zhongliang is the chairman and general manager of Fudi Technology Co., Ltd., which is mainly engaged in automobile electronics and automobile chassis under Byd Company Limited(002594) company.
In fact, recently Byd Company Limited(002594) has made frequent moves in the field of auto parts and set up corresponding companies in Xi'an and Changzhou. On January 27, Xi'an Byd Company Limited(002594) Auto Parts Co., Ltd. was established with Luo Zhongliang as its legal representative and a registered capital of 1 billion. On February 16, Changzhou Faurecia Auto Parts Co., Ltd. was established with a registered capital of 10 million yuan. The company is wholly owned by Shenzhen Faurecia Auto Parts Co., Ltd., which is jointly held by Faurecia (China) Investment Co., Ltd. and Byd Company Limited(002594) Auto Industry Co., Ltd.
From the geographical distribution of these auto parts companies, it just fits several major production bases of Byd Company Limited(002594) . It is understood that as of January 2022, there are four Byd Company Limited(002594) production bases put into operation, namely Shenzhen plant, Xi'an phase I and phase II plant, Changsha plant and Changzhou plant.
Taking Xi'an as an example, Xi'an production base is one of the most important production bases of Byd Company Limited(002594) and undertakes the production of Qin plusdm-i hybrid, song plusdm-i hybrid and other popular models. The planned annual production capacity of Xi'an phase I and phase II plants is 300000, with a total of about Shanghai Pudong Development Bank Co.Ltd(600000) .
In such a scale, it is particularly necessary to form a supporting auto parts production capacity. On December 5, 2021, the Byd Company Limited(002594) new energy auto parts industrial park project with a total investment of 15 billion yuan was signed and landed in Xi'an high tech Zone. According to public reports, the total investment of the project is planned to be 15 billion yuan, mainly building core parts such as electric assembly factory, motor factory and electronic control factory. After the completion of the project, it is expected to achieve an annual output value of about 70 billion yuan.
guaranteed capacity
vertically build a closed-loop industrial chain
The reason for the establishment of two new auto parts subsidiaries in Changsha may be related to the supply and marketing situation Byd Company Limited(002594) faces. Strengthening the supply of parts is conducive to the smooth guarantee of vehicle production capacity.
In Changsha factory, Byd Company Limited(002594) mainly produces yuan pro, E2 and dolphin models, and the production capacity remains between 20000 and 30 China Vanke Co.Ltd(000002) 594 dolphin model has been in rapid volume since its launch. The sales volume reached 10016 units in December last year, successfully breaking 10000; In January this year, the sales volume reached 10602 units.
On the whole, Byd Company Limited(002594) is facing a state of booming supply and demand, and the production capacity is tight. According to the company's announcement, in January, Byd Company Limited(002594) sold 93168 new energy vehicles, with a year-on-year increase of 361.73%, basically unchanged month on month; Among them, there were 92926 new energy passenger vehicles, with a year-on-year increase of 367.65% and a slight increase of 0.11% month on month. In that month, the company produced 91736 new energy vehicles, with a year-on-year increase of 309.66%. On the investor Q & a platform, many investors urged the delivery, saying that in order to provide hybrid models, they need to wait from April to may, and it is suggested that Byd Company Limited(002594) improve the overall production capacity.
From the perspective of industrial layout, increasing the layout of auto parts in the middle reaches is conducive to Byd Company Limited(002594) vertical integration of the industrial chain, increasing synergy and creating a closed loop. At present, Byd Company Limited(002594) has a relatively comprehensive industrial chain layout in the new energy vehicle industry, running through the upper, middle and lower reaches of the industry and the post market.
" Byd Company Limited(002594) while expanding its production capacity horizontally, it is also extending its vertical strategy, laying out high-end chips and lithium resources, and the automobile industry chain is also developing to the application scenarios of motors, accessories and terminals." Qi Haizhen, President of Beijing Teyi Sunshine New Energy Technology Co., Ltd., pointed out in an interview with the reporter of Securities Daily.
It is understood that as early as 2016, Byd Company Limited(002594) chairman Wang Chuanfu began to think about market-oriented reform and let the internal parts department go out while introducing external suppliers.
From March 2020, Byd Company Limited(002594) split five subsidiaries including ferdi battery and ferdi power, respectively corresponding to battery, engine and other businesses. While relying on Byd Company Limited(002594) , these subsidiaries also gradually take charge of their own and broaden the growth space. Take Freddy battery as an example, its monthly installed capacity in China ranks second only to the leading enterprise Contemporary Amperex Technology Co.Limited(300750) . Byd Company Limited(002594) semiconductor, which is mainly engaged in semiconductor business, also held a meeting at the end of January, and the spin off listing is imminent.
"For core businesses such as batteries, motors and chips, Byd Company Limited(002594) all have the conditions to establish subsidiaries and develop independently." Zhang Xiang, a researcher at the automotive industry innovation research center of Northern Polytechnic University, told the Securities Daily that unlike many auto parts companies that are difficult to obtain customers after their establishment, the first customer of Byd Company Limited(002594) auto parts companies is themselves. Byd Company Limited(002594) sold more than Shanghai Pudong Development Bank Co.Ltd(600000) new energy vehicles last year, which can provide full support for the business, After that, we can expand new customers.
Qi Haizhen believes that Byd Company Limited(002594) has no major cross-border phenomenon, and most of them are carried out around the huge track of new energy vehicles, indicating that it is fully optimistic about the future prospect of global new energy track.
