Jianghuai Power Shows Two Asian Kings Clean and Traditional Energy Walking on Both Legs

What kind of company does JAC Power want?

Maybe you are not clear. In fact, there are two "Asian kings" looming on its body: Asia's largest gasoline engine maker and potential Asian King of winds.

When interviewed by reporters, the secretary of JAC's board of directors Wang Naiqiang said: "The number of gasoline engines will reach 2 million next year, and Asia will surely be the first."

Asia's largest gasoline engine manufacturer

"In addition to the infusion of coal resources in traditional energy sources, in terms of clean energy, JAC's APU projects, gasoline engine projects, and wind turbine projects all take action." Sources close to JAC Power told reporters that "walking on two legs" is the company Management is now the best plan.

At present, most of JAC's high-end gasoline engines are exported to Southeast Asia and the United States. The world’s largest general gasoline engine company, B&S, is currently undergoing industrial transfer. In 2009, the company signed a cooperation agreement for gasoline engine products to manufacture gasoline engines for its OEM applications. This way, its sales of high-end gasoline engines have greatly increased.

"Original market share plus B&S's new orders are expected to reach 800,000 units of gasoline engine production this year, and will reach 2 million next year, and further increase to 5 million units in 2011. Its market share will also be Gradually promoted to No. 1 in Asia and No. 1 in the world. At present, the gross margin of this product is above 16%, which is far more than traditional products.” An executive from JAC Power explained to the reporter.

Under the influence of the depreciation of the US dollar and the increase in global inflation expectations, the Obama administration of the United States has adopted new energy and energy-saving emission reduction strategies as the engine of US economic development in the future. As an auxiliary power unit (APU) that does not have to idle the truck to save energy while parking, loading or unloading, while saving maintenance costs and extending the life of the engine, is currently increasing in the American truck market.

According to Lu Lei, a researcher of Great Wall Securities' machinery industry, the current market capacity of APU products in the US market is about 3.4 million units, and according to the latest US regulations, these needs should be fully released before 2011.

The above executives explained that JAC's APU product prices are about 15% lower than similar products in the United States, but its gross margin level is still above 40%, and it also has an exclusive advantage in marketing channels.

JAC has invested a total of 100 million yuan in APU projects. At present, the annual design capacity of its product line in the old factory building is 30,000. With the completion of the new industrial park, the company's production capacity will be significantly released. At present, the company's APU yield is the largest in Asia and the third in the world. The future goal is to occupy 10% to 15% of the US market. At the same time, the company does not give up the Raiders of the domestic market, has signed cooperation orders with the domestic top heavy truck manufacturers such as the North Benz Heavy Truck, Taiyuan Heavy Truck, and has taken the first step to occupy the domestic APU market.

Fan is the second invisible "Asia King"

In June 2009, JAC established Jianghuai Green Energy Company, which mainly produces small-scale new energy wind turbines.

Jianghuai Power Deputy Secretary Wang Naiqiang told reporters that at present, the company's 3.5KW-4KW horizontal axis wind turbine has entered some production.

Unlike many large-scale wind power companies targeting the domestic market, JAC's small wind turbines are mainly sold to the United States and Europe. The reason is that Europe and the United States have generous government subsidies for small wind turbines.

The above-mentioned JAC power executives disclosed that after the target of selling 500 sets of small wind turbines has been completed this year, large-scale production will begin in 2010, and production and sales volume will reach 5,000 to 8,000 units next year and more than 25,000 in 2011. , And strive to reach 2.5 billion yuan in sales in 2012.

JAC Power Transformation

Before this, people familiar with JAC Power revealed to reporters that JAC was brewing big changes and there was an expectation of asset injection. Its assets were coal.

The reporter confirmed this news, Jianghuai Power Secretary Wang Naiqiang.

Wang Naiqiang said: "Strategic adjustment companies have been carrying out." However, Wang said that there is no asset injection plan.

The agency expressed concern about the news.

"The JAC's preparation on the APU and the gasoline engine is not bad, but on coal injection, it has been heard that management has such plans, but it does not know when it will be implemented." An analyst familiar with JAC Power analyzed the report It said that if there is a project injection, it would help the company's valuation.

JAC Power is one of China's top 100 machinery enterprises and one of China's eight major internal combustion engine companies. In recent years, due to the fierce competition in the traditional product market, the gross profit margins of the two traditional products, ie diesel engines and gasoline engines, have been unsatisfactory.

The fact is that in order to change the situation of poor profitability, JAC has formulated a development strategy of “moving small and medium-sized power as the core and appropriately extending to end products”, positioning the market as “agricultural machinery plus exports” and implementing industrial restructuring. Transformation of high-end gasoline engine products, and select emerging businesses such as APUs and wind turbines to enter the field of energy conservation and new energy.

Wind-borne coal injection

In a research report released on August 13, 2009 by Guotai Junan analyst Wu Hao, said: “The market has recently rumored that major shareholders injected coal mines. After we verified with the company, major shareholders did indeed have a prospecting right in a large coal mine in Xinjiang. The initial exploration reserves amounted to more than 5 billion tons, and the varieties were thermal coal and coking coal. However, the company has not given a clear statement about whether it will be injected and when it will be injected. It has certain uncertainties.”

It is understood that Jiangdong Group has made frequent moves in the coal resource market in recent years and accumulated a lot of coal resources. The large coal mines mentioned in the Wusong Report are among them.

The reporter learned from the sources mentioned above that the current coal resources owned by Jiangdong Group total more than 14 billion tons (most of which are still in the mining rights stage), and the annual production capacity is expected to reach 15 million tons.

However, the source believes that this injection can not be a big coal mine of 5 billion, mainly because of the development capacity and the capacity of listed companies.

"Jiangdong's existing coal mines are still only prospecting stages. Even if the resources inside are very good, the development situation is still not satisfactory. Even if the coal is dug up, it cannot be shipped and it cannot achieve economic value."

The source said that from the actual operation of the listed company's coal resources injection, the 5 billion tons of big mining companies are also “can't eat”.

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