The China Securities Regulatory Commission's scrutiny committee will review the IPO application of Shunrong, an auto parts manufacturer. This year, “backed by†this “big tree†in the domestic automobile market, from the car accessories, lights to steel wheels, transmissions and other auto parts subdivision industry “little giant†companies have listed financing.
Shun Rong shares are called "Wuhu Shunrong Auto Parts Co., Ltd.", and it is planned to issue 17 million shares. It is expected that the raised capital will be invested in the "Automobile Plastic Fuel Tank Rebuilding and Expansion Project." The total investment of the project is 250 million yuan. The company’s prospectus’s submission shows that currently the company’s existing capacity utilization rate is basically saturated, and the original production capacity is insufficient to severely restrict market share. After this raised investment project is completed, the production capacity of auto plastic fuel tanks will reach 600,000 from the end of 2009. Only increase to 1.8 million/year.
The situation of Shunrong shares is quite common. For example, the application for the Xingyu lights at the Shanghai General Assembly had already been approved several days ago, and Jiangsu Minda, a domestic manufacturer of seat fabrics for automobiles and other vehicles, had recently landed on the SME board. According to the prospectus plan, the maximum limit for Xingyu’s car lights is 60 million shares, and the raised funds will be used for an annual output of 1 million sets of car lights. The total project investment is 450 million yuan. Jiangsu Minda has successfully issued 50 million shares and raised 260 million yuan to invest in 2 projects. Both companies have mentioned in their prospectuses the need to increase production capacity.
Since the beginning of this year, a number of auto parts companies have entered the capital market. The first Xingmin rims and Longji Machinery were listed on the market. They were engaged in the production of automotive steel wheels and brake discs, and truck brake hubs. Since then, Songliao Co., Ltd., a manufacturer of Wanliyang and cylinder liners engaged in the production of transmissions, and Songzhi Co., Ltd., which is engaged in the production of air conditioners for automobiles, has been listed on the small and medium-sized boards and is engaged in the production of parts and components such as car seat systems and interior and exterior systems. Then landing GEM. Analysts pointed out that the production of automobile parts, such as wheels, is a scale, capital, technology, and labor-intensive industry, and will not be eliminated if it does not follow the needs of the entire vehicle market. Through the expansion of scale, some auto parts companies can continue to reduce costs and increase their technological strength.
However, despite the overall good news for the auto parts industry this year, there will be some uncertainty in the next year.
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