Dongfeng Parts "Heavy Trade Light" Waiting for Transformation
10.82 billion yuan, which is the total revenue of the main business of Dongfeng Automotive Components (Group) Co., Ltd. from January to November 2014, an increase of 19.63% year-on-year. The company has exceeded billions of yuan in advance one month ahead of the mid-term business plan of Yangfan 130. . This company, worth over 10 billion yuan, currently has 15 directly-owned subsidiaries. The products cover six series: medium, heavy, light, sedan, micro, and agricultural. 　　
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In 1969, Dongfeng Motor Corporation (formerly known as the second truck production base in China) was established. In the same year, it was established as a supporting auto parts company. Relying on the big tree of Dongfeng Motor Corporation, Dongfeng Automobile Parts and Components Corporation has also grown. Most of the 15 subsidiaries of Dongfeng Components Group were jointly constructed and developed with Dongfeng Motor Corporation.
In addition to the Group's parts and components company, Dongfeng Group's parts and components business also covers Dongfeng Cummins Engine, Dongfeng Light Engine Co., Ltd., Dongfeng Honda Engine Co., Ltd., Dongfeng Honda Automobile Parts Co., Ltd. and East Style Traktor Transmission Co., Ltd. Dongfeng Honda Automobile Parts mainly manufactures the key components of Honda series passenger car engine chassis, and is an important component production base of Honda passenger vehicles in China. In addition, most of the remaining parts and components companies provide powertrains for the Group's internal car brands. Dongfeng Honda Motor Co., Ltd. provides engines and parts for some of GAC Honda's passenger cars. 
Always based on the group's support
At the beginning of the 21st century, in order to adapt to the fierce market competition and the needs of the reform of state-owned enterprises at that time, Dongfeng Group established the Dongfeng Components Business Department in 2000 to formally separate Dongfeng parts and components companies from vehicle companies and operate independently. Afterwards, in 2003, Dongfeng Motor had a stake of RMB 8.5 billion and set up a joint venture with Nissan Motor Co., Ltd. to establish Dongfeng Motor Co., Ltd. In the same year, Dongfeng Components Business Unit entered Dongfeng Motor Co., Ltd. and established Dongfeng Motor Co., Ltd.'s Parts Business Unit. Dongfeng Components completed its first leap forward; in 2010, Dongfeng Motor Co., Ltd. reorganized Dongfeng Components Business Unit again, and Dongfeng Components transformed into an independent and independent company-oriented model. Thus, the company completed the second time. Leap changes.
After completing two major restructurings, Dongfeng Parts Company showed its unique advantages.
Close to the water tower first get the moon. Due to the kinship between Dongfeng Parts Enterprises and Dongfeng Motor, the suppliers in the system have obtained the priority of the Group's OEM. This is the advantage of Dongfeng Parts Corporation. “Because of the large customer Dongfeng Commercial Vehicles, the annual supply of Dongfeng Components is more than 65%.†Deputy Secretary-General of the China Association of Automobile Manufacturers, Ye Shengji, told reporters that the Dongfeng Parts Corporation and the Group have integrated production and maintenance. There are close related transactions and share many resources with the group, such as information, management, procurement platform, technology research and development platform, R&D team, etc. These are also the advantages of the company itself.
Strong commercial vehicle parts and components sector
“Based on the development of the vehicle platform, the company’s comprehensive advantages in R&D, manufacturing, and branding of commercial vehicle parts are highlighted.†Li Yong, Director of Dongfeng Strategic Planning Department, said that compared with the development of other independent brand parts and components business, The good manufacturing capacity and talent base in the car sector are the main competitiveness of Dongfeng's components business.
In addition to the comprehensive advantages, after years of development, some of its subsidiaries have gradually emerged, adding to the overall business performance of Dongfeng components. Judging from the organizational setup, the company currently has 11 functional departments, two functional offices, and various departments that exercise specific management intelligence and is responsible for the overall management of 15 directly-owned subsidiaries. Among the 15 directly-affiliated subsidiaries of Dongfeng Components, one is a listed company and three are joint ventures. Among them, Dongfeng Dana is one of the best companies in China, demonstrating outstanding performance in the company's business with an overwhelming advantage. “Axle subsidiary's profits account for more than 40% of the parts and components, and it is almost the largest subsidiary of Dongfeng Limited. It is also very competitive in the industry,†said Dongfeng Nissan Liu Fenghua. It can be seen that the axle is the most advantageous business in Dongfeng parts, but this advantage comes from the joint venture partner. The American Dana company, which is a joint venture with Dongfeng, is a company with strong technology and strength. "Cooperate with Dana, USA, to provide high-tech spare parts assembly for automakers, and at the same time, to increase the added value of the company's own parts and components," said Li Shengqi, secretary-general of China Gear Professional Association. "Dongfeng Components Division has developed a number of powerful companies, such as Dongfeng Electronic Technology Co., Ltd. and Dongfengqiao Bridge, etc. Several representatives in the domestic parts and components industry have a certain degree of technological advancement and a relatively stable market." Li Shengqi told reporters.
Indeed, in the 15 subsidiaries directly subordinate to Dongfeng components, after years of growth, a number of more competitive companies emerged. If Dongfeng Electronic Technology Co., Ltd. is the first listed company of Dongfeng, it has now developed into a 13-branch company with three major system-leading products (interior systems, electronic and electrical systems, and automotive brake systems) with system development capabilities and modules. An integrated supplier of first-class component suppliers; Dongfengqiao Bridge was formerly the largest commercial vehicle axle company in China, and was formed from the merger of three former Dongfeng subsidiary companies with total assets of approximately RMB 1.64 billion. In 2005, it was the same as the American Dana. Axle Company established Dongfeng Dana Axle Co., Ltd. and has now become a leading company in the subdivision field. Since 2007, the domestic share of Dongfeng Dana's medium- and heavy-duty auto makers has reached more than 30%. In addition, Dongfeng Motor Wheel Co., Ltd., Dongfeng Suspension Spring Co., Ltd., Dongfeng Radiator Co., Ltd. and other subsidiaries have also become leaders in their respective segments.
In addition, compared to passenger cars, commercial vehicles have more comprehensive capabilities in R&D and production in core powertrains. Rudong Style Trac is providing the DCT for the Group's internal passenger vehicle brands and other domestic automobile enterprise brands. Dongfeng Cummins Engine and Dongfeng Light Engine are powertrains for commercial vehicles, but the former provides a more comprehensive product structure and is widely used. Domestic and foreign light, medium and heavy commercial vehicles; the latter mainly produces Dongfeng's own brand light engines. “Dongfeng has a good development in the commercial vehicle parts system. In the core components of commercial vehicles, the traditional four major parts have good technical accumulation. This mainly depends on the Group’s commercial vehicle platform.†Li Shengqi said, in addition, a joint venture with Nissan The supplier system also has a positive impact. Although the passenger car parts business started late, Honda Motors and Honda Parts Co., Ltd., a joint venture established by Honda, created conditions for Dongfeng auto parts products to enter the passenger car field, and solved the problem of supporting parts for passenger car parts. It is necessary to accelerate the pace of mastering research and development capabilities and core technologies.
Historical burden weighs weaker competitiveness
As of 2015, Dongfeng’s auto parts plate has gone through more than 40 years of development and has become a large-scale parts and components group. However, compared with successful large-scale domestic and foreign parts companies, there is still a large gap. The contradictions and problems affecting the development of enterprises have slowly become prominent and have become obstacles to the overall development of enterprises.
This can be seen from the history of its development. As a Dongfeng parts and components company, which was attached to Dongfeng Group, it was mainly designed to meet the internal support of the group. The operating profit of the company was greatly influenced by the sales performance of commercial vehicles. It was a glorious and prosperous, and the impact of a loss was more pronounced. The heavy historical burden, inflexible systems, and over-protected mechanisms also made Dongfeng parts and components companies perform poorly in expanding the group's external markets in recent years.
From a product structure point of view, key component technologies also need to rely on foreign capital to provide technical assistance. From the point of view of companies that provide powertrains within the group, they basically belong to the joint venture company. China’s right to speak is lighter, and key components such as cylinder blocks, cylinder heads, and driveshafts are also provided by joint venture companies. These parts are not difficult to design. Large, but to form an autonomous complete design method, it takes time to accumulate and invest. Dongfeng’s own core components are mostly used for medium- and light-duty trucks, and its technical content is relatively low. The high-value-added products for heavy trucks are small in variety and low in productivity. Such as Dongfeng own brand light engine, supporting the domestic low-end market for commercial vehicles. Moreover, the most obvious point is that the product structure is too "partial" and "heavily traded" is too serious. "Commercial vehicle parts and components system, the large group of parts and components planning is very targeted, but the components of Dongfeng passenger car are relatively weak." Li Shengqi said. Ye Shengji believes that Dongfeng passenger vehicles rely mainly on external procurement, passenger car parts are too dependent on foreign investment, and commercial vehicle and passenger car parts and components have very different levels of development. For example, Dongfeng Cummins and East-style Trakke performed very well in the industry, but parts for passenger cars appear to be weak, and products with strong competitiveness have not yet developed. The development of parts and components business needs to take both business and business considerations into account in future planning, and establish an entire parts supplier system suitable for the development of Dongfeng Group.
Mentioned that SAIC would know Huayu and mentioned that BAIC knew Heinerchuan. In contrast, Dongfeng parts business does not appear to have formed a strong enough brand effect. “Hua Yu is a listed company. In addition to the advantages of financing, the development strategy is also very clear. Although Dongfeng has a listed company, Dongfeng Electronic Technology, its product structure is too restrictive. Dongfeng should create its own component business brand. Plan the development route, said Yang Hong, president of Shenzhen Hangsheng Electronics Co., Ltd.