The recovery of traditional electromechanical industry has picked up
Industry Review:
The electromechanical industry is the basic industry for industrial development, and it is also one of the key links for the country to achieve China Manufacturing 2025. The company is located in the small and medium-sized motor industry, specializing in special motors, and the industry is highly competitive. The motor industry is greatly affected by the adjustment of the national economic structure. In recent years, traditional industries such as steel, lifting, coal and other industries have fluctuated greatly and the gross profit margin is relatively low. To this end, the company has accelerated the pace of upgrading of motor products, focusing on the development of servos. Intelligent energy-saving motors such as motors and new energy automobile motors, as well as new areas of motor products such as key new customers and military products, and enhance the competitiveness of electromechanical products.
Lithium-ion new energy industry is an industry that the country is developing vigorously. The company has completed the layout of the lithium-ion industry, forming a lithium-ion new energy industry pattern of lithium mining and processing, lithium mica comprehensive utilization, cathode materials and new energy vehicles, forming a relatively complete Lithium new energy industry chain. The company will seize the opportunity of the rapid development of the national lithium battery new energy industry, with rapid lithium reserves, high-efficiency and low-cost lithium mica lithium technology, multi-variety and new style of new energy vehicle products, quickly release economic benefits.
Main business production:
Jiangte Motor is currently engaged in three major business segments: lithium industry, automotive industry and intelligent electromechanical industry.
1. Lithium industry: The lithium industry is an industry that the company is focusing on. It is expected that the proportion of the industry in the company's business will increase rapidly, and the proportion in the company's performance will increase. The industry mainly includes lithium ore mining, lithium mica to prepare lithium carbonate, and lithium battery cathode materials. The company has a wealth of lithium resources. It has 5 mining rights and 8 exploration rights in the lithium-ceramic mine. The company is the single largest shareholder of the Australian listed company Tawana, which owns Bald Hill in Western Australia. The project has a 50% interest. The mine area of the project is nearly 800 square kilometers. It has explored nearly 20 million tons of high-grade lithium resources and has abundant resources. Lithium porcelain ore is processed to extract products such as tantalum, lithium, ru and se. Among them, lithium is an important basic material for the development of lithium battery industry. Ruse is a scarce resource in the world and has important application value. It is an important national strategy. Resources, lithium feldspar powder is an important material for the manufacture of ceramics and glass. During the reporting period, the company has formed large-scale mining areas with Yichun Xinfang antimony mine and Hejiaping kaolin mine, with an annual mining volume of about 600,000 tons; Taichang Mining's annual ore dressing capacity is about 600,000 tons, after technical transformation. The quality of lithium mica concentrate and feldspar powder produced by the company has reached the leading level in the industry; the Yiling County Lion Ridge lithium-containing porcelain stone mine under construction will become the company's largest mining and mineral processing base, Bald Hill project The spodumene mine has high quality and good mining and processing conditions. The above projects started trial production or production in March 2018, providing raw material guarantee for the preparation of the company's downstream lithium carbonate. Lithium mica high-efficiency and low-cost lithium technology has been successfully completed and successfully put into production. After the technical transformation, the company's lithium carbonate production has improved significantly, laying a good foundation for the company's lithium carbonate project expansion. Lithium mica extraction of lithium carbonate will become an important contribution point for the company's profits. . The cathode material of lithium battery is mainly composed of ternary material and lithium-rich manganese-based cathode material. The ternary material is the current mainstream cathode material and is currently the main sales product.
2. Automobile industry: The automobile industry is the key development industry of the company in the future. It currently includes three platforms, namely, Kowloon Motor, Yichun Bus Factory and Jiangte Electric Vehicle. The products cover electric commercial vehicles, new energy buses, electric logistics vehicles and special electric vehicles. On the one hand, the company makes full use of the existing automobile industry platform to improve manufacturing level and increase production through intelligent manufacturing technology transformation; on the other hand, it will introduce advanced foreign automobile design through Shanghai Jiangzhi Electric Vehicle R&D Center and molecular companies such as Japan and Germany. , batteries, electronic control and driverless, interconnection and other technologies and talents, research and development and the introduction of high-tech products to meet market demand.
3. Intelligent electromechanical industry: The intelligent electromechanical industry is the traditional leading industry of the company. In the course of more than 50 years of motor development, it has accumulated strong experience in technology, research and development, production and sales, lifting metallurgical motors, elevator escalator motors, The sales revenue of high-voltage motors, wind power supporting motors and other products have been in the forefront of the sub-sector. In order to comply with the development trend of national industrial transformation and upgrading, the company has accelerated the pace of upgrading traditional motor products, focusing on the development of servo motors and new energy vehicle motors. At the same time, we will open up new motor market areas such as key new customers and military products.
bussiness plan:
Focus on the company's development strategy, make full use of the advantages of national industrial policies, accelerate the expansion of lithium carbonate, increase the selection of lithium resources, focus on the development of new energy vehicles, servo motors, electric motor motors and other products, and strive to achieve operating income in 2018 49 100 million yuan, the net profit attributable to the parent company is 680 million yuan.
Possible industry risks:
1. Policy risk. The country's reduction of subsidies for electric vehicles has put more pressure on electric vehicle companies; industrial policies in real estate, steel, coal and other industries have a direct impact on the sales of traditional motors.
2. Manage risk. The pace of upgrading and transformation of the company has accelerated, the number of subsidiaries at home and abroad has increased, the industry span has increased, and the expansion of the industry has put forward higher requirements for company management and talents;
3. The rapid development of various industries of the company, the increase in demand for funds, the increase in accounts receivable, and the increase in financial costs caused by the increase in bank loans will have an impact on the company's performance.
4. Industry risks. The price of lithium carbonate remained high, the market for supply and demand changed, and there was a risk of falling prices and lowering gross margin.
