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On March 28th, Dong Xu Optoelectronics Technology Co., Ltd. (000413.SZ, hereinafter referred to as Dongxu Optoelectronics), which had more than two months of suspension, resumed trading. As the company had previously disclosed a restructuring plan to purchase 100% equity of Shanghai Shenlong Bus Co., Ltd. (hereinafter referred to as Shenlong Bus) held by Shanghai Huiyi with a consideration of RMB 3 billion, the stock price was capped at the limit after the opening. The acquisition was successful, and the leading passenger bus industry in China will become a wholly-owned subsidiary of Dongxu Optoelectronics.
A number of industry experts all stated that Dongxu Optoelectronics' acquisition of Shenlong Bus was "a treasure." And Shen Long's "Baby" is not only in the performance of the top ranked industry, but also in its strong overseas expansion capabilities and the expanding overseas market territory.
“A powerful alliance has always been a good thing.†A senior person in the new energy automotive industry pointed out to reporters: “The overseas market for new energy vehicles is undoubtedly the new growth point at present, and Shen Long has been deployed overseas for many years and has a strong market. , channels, and talent advantages, which are very likely to become one of the key breakthroughs after the two sides joined forces.â€
Overseas markets become new growth points for new energy buses
For Chinese bus companies with the highest production volume in the world, the main battlefield for competition has long been not limited to the white-hot domestic market, but has expanded to all corners of the world.
According to statistics from the Customs, in 2016, China exported 81,000 full-auto vehicles, which was an increase of 7.2% year-on-year, of which passenger car exports grew most significantly by 20.3% year-on-year. The new energy bus, as a rising star, has developed very rapidly in terms of exports and has a great potential to emerge.
Therefore, the importance of overseas markets is increasing day by day and has become a new growth point for the new energy bus industry. The main reason is that, compared with the domestic market, overseas markets have more demand and more profit, and there are more opportunities for competitive companies to display their own advantages.
The above-mentioned senior people in the new energy automotive industry believe that although the growth rate of China's new energy passenger vehicle industry is fast, the market share is basically locked by a few enterprises, while the development of new energy passenger vehicles in Western developed countries is slow, and most countries have not yet formed systematic experience. Therefore, it is a rare market opportunity for China's new energy car companies.
It is understood that the capacity of the large and medium-sized bus markets in the world is around 500,000, of which the demand in the Chinese market accounts for about one-third, while the demand in developed countries such as Europe, the United States, Japan and South Korea is slightly over one-third, and the remaining one-third is India. , South America and other developing countries. If China's new energy buses can achieve sustained exports in developed countries and developing countries, their market space can be imagined.
In addition, under the environment of increasing air pollution control and energy shortage, various countries have also formulated stringent standards and regulations, which have forced the upgrade of the new energy automobile industry. Among them, Europe, the United States, and Japan tightened the fuel consumption regulations by 4.4 percent, 4.5 percent, and 3.9 percent, respectively, to force cars to reduce energy consumption and reduce carbon dioxide emissions.
In fact, the domestic first-tier bus companies have already vigorously deployed overseas markets. Yutong, Jinlong, Shenlong and other top-five enterprises have promoted new energy buses in overseas markets to become the major brands in some countries. Among them, Yutong, which has the largest overseas sales volume, already accounts for 90% of Cuba’s overseas passenger car purchases. The “Yutong Model†known for “rapid and steady growth†has for a time become a target for peers to imitate. Shen Long, which is closely following it, has entered multiple markets in batches in Asia, Africa, and South America, and has received acceptance and favorable comments.
Shenlong model" tree industry benchmark
As early as 2007, Shenlong Bus began to deploy overseas markets, and gradually extended to more than 20 countries and regions in the world, and further formed a unique market expansion model for high-quality products in overseas competition.
Chen Dacheng, president of Shenlong Bus, pointed out that as an international passenger car company with 10 years of overseas experience, Shen Long’s biggest “killer†is not to quickly capture the market at a low price, but rather to create a perfect quality of “Shenlong Manufacturingâ€.
When competing with international first-rate brands "on the face of face" overseas, Shenlong Bus has always been aiming to create an international brand created by "Shenlong", taking product value as the guide, always insisting on using international standards, and continuously improving its manufacturing process and product adaptation. At the same time, increase the investment in customer's maintenance and after-sales service, and provide customers with a tailored service model. After many years of experience, Shenlong has gradually formed a unique model.
The effectiveness of this market expansion strategy has quickly been verified. Taking a Thai company as an example, the company’s previous purchases were mostly concentrated in five major international brands such as SCANIA, BENZ, VOLVO, HINO, and ISUZU. However, the Shenlong passenger trains were simply squeezed in by virtue of product quality and service. The company's mainstream.
As of now, Shenlong Bus has entered the market in South Korea, Southeast Asia, the Middle East, South America and Africa in bulk. Among them, Shenlong Bus not only successfully broke through the Hong Kong bus market that is firmly occupied by foreign car brands, but also occupied the Chinese passenger car imported from Thailand. 80%-90% purchase volume.
This move not only won recognition in the international market, but also became an example of Shen Long’s overseas expansion. He was hailed as a “Shenlong Model†by his peers and became a joint venture with Yutong in bulk entering Venezuela, Cuba, and Dajinlong’s bulk entry into Malta. Study the object of study. Statistics show that in recent years, Shenlong Bus ranks among the top five in terms of export volume and export value of Chinese passenger cars in the same period, second only to Yutong Bus, Xiamen Golden Dragon and other star enterprises.
Therefore, "Shenlong Manufacturing" achieved "Shenlong Mode" and "Shenlong Mode" became the benchmark of the industry. In the ten years of overseas market expansion, Shenlong Bus has participated in the development of green transportation in Thailand and the aluminum body in Singapore. Product trials, Saudi school bus support services and other projects, from high altitude areas, alpine areas to tropical areas, from a simple product output, to technical output, output of the program, etc., have accumulated a wealth of international market applications and technical experience.
Chen Dacheng told reporters that the experiences of the use of environmental data, usage habits, and operating methods accumulated by Shenlong Bus through overseas expansion are invaluable for the improvement of technology, not only contributing to the improvement of product quality, but also helping the company to develop new ones. international market.
Two strong alliances or remodeling overseas new energy bus market
In fact, Shen Long's alliance with Dongxu Optoelectronics can boost the company's international expansion on the basis of leveraging resources.
Shen Long, deputy chief of the long-term responsible for overseas markets, Chen Sicheng pointed out to reporters at the same time that Shen Long’s overseas development through more than 10 years now faces the following situation: On the one hand, the overseas market is extremely vast, and its own export scale has steadily increased. Manufacturing-based "Shenlong mode" is also gradually maturing. On the other hand, the bottleneck of funds still constrains the further growth of the company, and Shen Long is trapped in the dilemma of “a woman can't be without a meterâ€.
Chen Longcheng, chairman of Shenlong Bus, recently told reporters that the constraints of inherent production capacity and industrial capital make it difficult for Shen Long to lay out overseas. He further explained that: "Because of the limited fund capacity bottleneck caused by the capacity planning and the long withdrawal time when the earliest factory was built, the development potential is enormous but it cannot be effectively used."
The entry of Dongxu Optoelectronics is expected to unlock the shackles of Shen Long’s upgrade and development. Dongxu Optoelectronics can rely on its financial resources to solve the bottleneck problem of Shenlong’s development. Allowing the bus industry to have long-term issues such as long-term accounts will not affect Shen Long's further development.
After cooperating with each other, Dongxu Optoelectronics will provide necessary market, capital, and technical support for Shenlong Bus to increase scale and speed up integration, further boosting Shenlong's internationalization. Shen Long, the Chinese competitor of the overseas passenger car market, has been able to reshape the international new energy bus market after gaining a strong overweight of Dongxu.
With the help of Dongxu, Shenlong will continue to expand overseas markets in the future. Chen Xicheng said that although the Shenlong Bus had previously exported products to developed countries such as the United States and Europe, it has been doing more cautiously. It will intensify its efforts to try to enter advanced developed regions and countries such as Eastern Europe and Israel to enhance the significance of the specimens. Economy Profit.
He further emphasized that next we will also promote the overseas investment layout and prepare three points for overseas deployment, that is, the establishment of three KD factories (parts will be assembled into whole vehicle sales after the parts are imported).