The hottest three Huaqi zero has become a supplier

2022-08-13
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Sanhua auto zero has become a supplier of Daimler electronic water pumps in Germany. Sanhua intelligent control announced that Sanhua auto zero, a wholly-owned subsidiary of the company, has determined to become a supplier of electronic water pumps for Daimler new energy in Germany. So far, electric vehicles and traditional automotive platforms are about to develop, produce and support electronic water pumps for Daimler global factories. Relevant models are expected to be launched in batches in 2019, At the same time, the company expects Sanhua auto zero to become a supplier of Daimler electronic water pumps in Germany within the product life cycle. Sanhua intelligent control announced that Sanhua auto zero, a wholly-owned subsidiary of the company, has determined to become a supplier of electronic water pumps for Daimler new energy electric vehicles and traditional automotive platforms in Germany. It is about to develop, produce and support electronic water pumps for Daimler global plants. Relevant models are expected to be launched in batches in 2019, At the same time, the company expects the global sales volume to reach 3.59 million units within the product life cycle

brief comment

Sanhua auto zero has outstanding growth, and will continue to provide strong increments in the future.

Sanhua auto zero is an industry-leading supplier of automotive air conditioning and thermal management system control parts. In the future, relying on the improvement of the demand for new energy vehicles and traditional vehicle energy conservation, its growth will continue to release. The main product lines of auto parts include thermal expansion valve, liquid reservoir, temperature regulating valve, electronic expansion valve, etc. among them, the expansion valve, the main product, has strong competitiveness in the world. According to the company's announcement, in 2016, the global and domestic market share of expansion valve products exceeded 16% and 37% respectively, which is an important pawn for the company to enter the auto parts business

at the same time, the company continues to consolidate its technical strength, expand new products in the field of automotive air conditioning and thermal management in combination with the development trend in the field of automotive parts, and become a supplier of Daimler electronic water pumps this time, showing the company's solid product strength. At present, there is a space (0.7m) for experiment and protection around the company; We are expanding electronic water pumps, electronic water valves, electronic oil pumps, battery coolers, cooling plates and oil coolers for battery and electronic equipment cooling, engine and power system cooling, as well as various refrigerant switching solenoid valves for new refrigerant and heat pump air conditioning systems. In the future, the product line layout is comprehensive, and the market space potential has the potential to be significantly improved

a total of 3.59 million electronic water pump products will be provided to Daimler this time, which will provide a stronger impetus for the zero growth of Sanhua automobile and strengthen the long-term performance growth of the company's overall business. The airframes of the latest large and medium-sized aircraft of Airbus in Europe and Boeing in the United States have exceeded 50% of CFRP expectations

the company's demand for air-conditioning parts is stable, and the overall growth of its main business is highly certain.

the company's main products, such as electronic expansion valves, four-way valves, stop valves and other air-conditioning core parts, are technologically advanced, have an absolute advantage in market share, and have no worries about the growth of its main business. The overall refrigeration demand continued to grow high in high temperature weather, and the sales of refrigeration parts and components reached a new high in 2017h1. Among them, the refrigeration business of the company achieved a revenue of 2.515 billion yuan in the first half of the year, +22.84%. In addition, at the same time, the demand for microchannels and AVIC has continued to improve, and both have a steady performance. At the same time, affected by the sharp increase in domestic demand for variable-frequency air conditioners, Lin nianxiu, deputy director of the development and Reform Commission, saw a significant increase in the sales of variable-frequency controllers, with +79.36% in the first half of the year

the company is committed to the innovation of core components of air conditioners. Its products meet the needs of high-efficiency variable-frequency air conditioners. The product structure dominated by electronic expansion valves has been continuously optimized. In the first half of the year, its profitability has steadily increased under the pressure of raw materials, and its revenue and performance have increased simultaneously. Investment suggestion: we believe that the company is the leader in the core components of air conditioners, and its market leading position is continuously enhanced under the optimization of product structure. In the face of raw material pressure, its profitability is stable and its long-term development is stable. At the same time, the auto parts business will provide performance increment, and the key development layout in the field of new energy vehicles will help consolidate the company's long-term growth foundation. EPS is expected to be 0.62/0.82/1.10 yuan, corresponding to 26/20/15 times of PE, which is rated as "buy". (according to CSC)

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