Fast has been listed for three years to expand the transmission industry

At noon on July 26th, in front of the Fast Sales Company located in the western suburbs of Xi’an City, a dark red “Jin” prefix license plate truck was awaiting departure. The car is equipped with a transmission manufactured by Fast.

Not only that, but within this heavy truck as a means of transport, there is also a fascia transmission. Li Dakai, chairman of the company, introduced that Fast's transmission products accounted for more than 80% of the domestic heavy-duty vehicles with a market share of over 8 tons. It has become the largest domestic manufacturer of heavy-duty vehicle transmissions.

4 trillion beneficiaries

In the domestic heavy-duty truck manufacturing industry, FAW, Dongfeng, China National Heavy Duty Truck (000951, shares it), Beiqi Foton and other more than 10 well-known manufacturers compete fiercely, the director of the exhibition. However, most of the transmissions used by these well-known brand automobiles come from the same supplier, the Fast Group.

The predecessor of Shaanxi Fast Automobile Transmission Group Co., Ltd. is Shaanxi Automobile Gear General Factory. In 2005, it was transformed into a wholly state-owned limited liability company. It is the largest large-scale automobile transmission and automobile gear and cast and forging parts in China. Specialized production enterprises and export bases, it owns more than 10 controlling and joint stock companies with total assets of 6 billion yuan.

In the first half of this year, Fast Group achieved a total sales revenue (excluding tax) of 3.238 billion yuan, accumulatively producing and selling 235,316 heavy-duty transmissions. Li Dakai said that the 12-speed, 16-block dual-shaft transmission series of new products in the market demand for rapid growth in sales, monthly sales have exceeded the million mark.

Fastw Group Party Secretary Choi Weike told reporters that the market's demand for transmission products has seasonal characteristics, generally every January - February, July - September is a low tide. However, judging from this year's situation, after the January low ebb, it began to recover in February. In recent months, it has produced more than 40,000 units and maintained a high level of operation.

On July 22, the reporter saw in the Fast high-tech factory that the workers were busy in an intense and orderly manner. In July, it was the traditional off-season. It was not a poor season. The company's target for 2009 is to achieve a sales revenue of 7 billion yuan, to produce 500,000 transmissions, and to generate foreign exchange of 30 million US dollars.

If this goal is achieved, Fast Group's sales revenue this year will achieve a growth rate of 13%. In the aftermath of the financial crisis, in 2009, the Group’s confidence came from the high growth momentum it has maintained in the past decade and the implementation of the 4 trillion stimulus policy.

In the past 10 years, the Fast Group has enjoyed rapid growth year after year. The annual sales revenue and industrial output value have grown from more than RMB 100 million to more than RMB 6.5 billion, and the output and sales of transmissions have increased from more than 5,000 units to more than 460,000 units. More than 2 million U.S. dollars have grown to more than 50 million U.S. dollars. Compared with 1999 before the corporate restructuring, total industrial output value has increased by 47 times, sales revenue has increased by 49 times, and heavy-duty transmissions have grown by 68 times.

According to the data in 2009, the driving force for growth is a large part of the state’s policy of investing 4 trillion yuan in driving domestic demand: in January this year, the output of the Fast Transmission was 10,000 units, and in February it was increased to 30,000 units. It has reached 60,000 units, a large part of which are transmissions used in construction vehicles.

Involved in the field of medium and light vehicles

After several years of development, in the domestic market, Fast Group's market share of over 8 tons of heavy-duty vehicles exceeds 80%, and the market has more than 1.5 million units. Its heavy-duty vehicle transmission production and sales have ranked first in the world for three consecutive years.

To achieve new development, it is obviously not enough to stick to a single product of a truck transmission. Instead, it will be expanded to the entire “automotive transmission parts” product line, breaking through the heavy-duty field, and setting foot in the mid-light car and sedan fields.

The first breakthrough in the industrial chain is the technical bottleneck. Li Dakai introduced that Fast Group attaches great importance to product research and development and independent innovation. Currently, the national-level enterprise R&D center, the Fast Automotive Transmission Engineering Research Institute, has more than 40 laboratories with a total investment of 600 million yuan.

According to Cui Weike, in recent years, the Fast Group has invested more than 2 billion yuan in technical innovation and R&D funds. The key technologies and core technologies of some independent innovation products have reached the international advanced level.

Li Dakai said, “The Fast Group will strive to achieve the listing within three years in accordance with the requirements of the SASAC. There are two reasons for listing: First, to achieve equity diversification will help the company more cautious and healthy development; Second, to absorb funds, construction More plants, new projects, continue to grow."

When asked whether Fast has always achieved the intention of merging with other companies through the "snowball" approach, Li Dakai said: "Faster does not rule out the possibility of mergers and acquisitions at home and abroad, but it depends on the opportunity to be suitable. We develop good products for strategy, good factories."

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