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Yesterday, the performance of shares of listed companies in autos and parts was very eye-catching. Changchun East, FAW Sihuan, Changfeng Auto, Foton Motor, and Changhe were all closed daily. This is undoubtedly closely related to the rapid development of the automotive industry. Xiangyang Bearing (000678), as one of the leading enterprises in China's auto parts industry, is sharing the industry's rapid growth of excess profits; at the same time, the company's foreign mergers and acquisitions program has not been approved, the market has not fully reflected the value of its mergers, the stock price rose in the afternoon Larger space.
China's largest manufacturer of automotive bearings
Fuyang Bearing is China's largest professional manufacturer of automotive bearings. The company's "ZXY" bearings can also be designed and manufactured for users in addition to the entire vehicle supply Dongfeng, Jiefang, JAC, Beijing, Nanjing, Chang'an, "Isuzu" N series models and other types of vehicles, tractors and machinery maintenance. Bearings and parts have now formed a system of supporting bearings for heavy-duty, medium-sized, light-duty, micro, and sedan cars, and the products are exported to Europe, America and Southeast Asia. Dongqi Corp.’s military vehicle products have been designated as stern axles. The company has the only automobile bearing research institute specializing in the research, design and development of automotive bearings and a national-level automotive bearing technology center in China. The technology center was recognized as a state-level enterprise technology center by the former State Economic and Trade Commission.
In 2006, after escaping from the shadow of Greencool's mergers and acquisitions, the company's performance increased by 269.59% year-on-year, and continued to show growth momentum in the first quarter of this year.
M&A adds imagination
The prominent industry status of the company makes it a rare acquisition target. The company's largest shareholder, Shenyang Automotive Bearing Group Co., Ltd. signed a “share transfer contract†with Tiansheng Bearing Group Co., Ltd. on January 6, 2006. At present, the agreement is still waiting for the transfer of state-owned shares of listed companies after the share reform of SASAC. The introduction of the policy.
Tiansheng Bearing registered capital of 100 million yuan, is a Sino-foreign joint venture established by the United States Tiansheng Holdings, the main precision bearings and various special bearings for the host. Its products are directly supported by the world's top 500 companies and are the only domestic enterprises that have large quantities of direct bearings to the world's top 500 companies.
As the approval did not come out, some media even said that "China National Aviation Group Corp." was involved in the merger. Although the company has issued a clarification announcement, it only said that “there will be no contact with other parties including AVIC Group 1 for at least three monthsâ€, but if the approval does not come within three months, the company will not look for new ones. Buyers? This must not let the market be full of imagination.