Tianrun Crankshaft wants to go international by listing

On August 21st, the domestic crankshaft industry leading Tianrun crankshaft officially landed on the A-share market.

Previously, the company's chairman Xing Yunbo stated during the roadshow that Tianrun crankshaft, as the largest manufacturer of high-end engine crankshafts in China, will gradually start competing with the world's leading engine parts suppliers in the international market by taking advantage of the opportunity to access the capital market. The global engine is equipped with a "heart" made in China.

Has become a leader in the crankshaft industry

Tianrun Crankshaft Co., Ltd. is a Sino-foreign joint venture established in 1995 and was changed to a joint stock limited company in 2007. Its controlling shareholder Shandong Crankshaft Plant has a long history.

Shandong Crankshaft Plant was originally a Wendeng farm machinery repair and manufacturing factory established in the 1950s. In 1969, it started to produce crankshafts. On February 4, 1982, approved by the Wendeng County People's Government, the name was changed to Wendeng Crankshaft Factory. On December 7, 1993, Wendeng Crankshaft Factory was renamed Shandong Crankshaft Factory. November 16, 2007 Shandong Crankshaft Factory was changed to Shandong Crankshaft Factory Co., Ltd.

Today's Tianrun crankshaft has undergone continuous innovation breakthroughs and has a more prominent market position and technological advantages while it has a profound historical accumulation.

In terms of market share, Tianrun crankshaft has an annual production capacity of more than 500,000 crankshafts of various types of engines, and has the largest market share in the heavy engine crankshaft market. Tianrun Crankshaft has hundreds of imported CNC lathes, CNC grinding machines, boring and milling machines and other professional crankshaft production equipment, technology and equipment to reach the international advanced level. Its products have achieved ISO/TS16949 international automotive industry quality system certification, and passed the United States Cummins, Iveco France plant, Weichai Power, Dongfeng Cummins, Shaanxi Heavy Duty, Shangchai shares, FAW Xichai, FAW Dachai, Guangxi Yuchai and other domestic It is strictly certified by famous engine OEMs and maintains close and long-term cooperative relationships with these companies.

In terms of technology, Tianrun Crankshaft has the only “nationally recognized enterprise technology center” in the domestic crankshaft industry, and has established joint research institutes with universities such as Shandong University, Dalian University of Technology and Harbin Institute of Technology. In 2000, Tianrun Crankshaft produced by Tianrun Crankshaft was rated as “Top 10 Famous Brands for Internal Combustion Engine Components Industry”; in 2006, it was named “China Crankshaft Market Customer Satisfaction Preferred First Brand”; in 2007, it was awarded “ China's crankshaft industry's most influential first brand" and "China's auto parts industry's top ten influential brands." At present, Tianrun crankshaft is the chairman unit of the high-strength bolt branch of the crankshaft connecting rod of the China Internal Combustion Engine Industry Association. As the drafting unit, it drafts the “People's Republic of China Machinery Industry Standard—Technical Conditions for the Crankshaft of the Internal Combustion Engine” and “The People’s Republic of China Machinery Industry standard --- engine crankshaft product quality classification."

Due to the company's great emphasis on R&D investment and its adherence to the quality policy of “quality first, customer first, full participation, and continuous improvement”, it has also achieved fruitful R&D results in recent years. At present, the company has more than 10 products with independent intellectual property rights, 1 special new material, 16 patents, 6 national key new products, and 1 national torch plan project. In addition, the company has completed the development of more than 60 new products, new materials, and new processes each year. The research level in new products, new processes, new materials, etc. is at the leading position in China, and the replacement process of raw materials to reduce costs is very worthy of attention. .

It is commendable that, despite the financial crisis, Tianrun crankshaft's net profit has been steadily rising in 2006-2008 and the first half of this year. The main reason is that in recent years, the country has resolutely controlled “over-limit overloading”, maintained a high level of investment in fixed assets, and continued development of the real estate industry and logistics and transportation industry, which has led to the continuous expansion of China's heavy and medium truck and construction machinery industries. Constantly mature. In the second half of 2008 and the first half of 2009, the market demand for heavy truck industry was affected by the short-term downturn of the financial crisis. The country promptly introduced a series of favorable policies to stimulate the consumption of medium and light trucks, micro-cards, and cars. The company timely arrested. Market opportunities have also achieved significant growth in the mid-light and micro engine crankshafts and the small and medium-displacement sedan crankshaft market.

According to the data from the China Internal Combustion Engine Industry Association, in 2008, Tianrun crankshaft produced 287,000 heavy-duty engine crankshafts, and the overall market share reached 37%, ranking first.

Create an international crankshaft base

Shandong Heavy Industry Group was established under the overall strategy of Shandong Auto Parts “Great Unified”. During the initial merger discussion, the Shandong Provincial Government intentionally included the Tianrun crankshaft, but ultimately gave up the idea. “Taking the Tianrun crankshaft as the industry leader, it has grown into an outstanding national brand in China and has driven the development of the industry.” Based on this idea, the Tianrun crankshaft has not been incorporated into Shandong Heavy Industry Group, but has sought to develop itself. the way.

The company's chairman Xing Yunbo said: "Successful listing is an important milestone in the company's development history, and it is also a new starting point for the company's further development and expansion. It strives to build Tianrun crankshaft as an international professional manufacturer of automotive engine core components as soon as possible."

The crankshaft manufacturer is a secondary component supplier in the automotive industry chain. The Tianrun crankshaft is similar to most domestic parts and components companies and its development depends on the commercial vehicle industry. Among them, the crankshaft products of the heavy-duty diesel engine accounted for 77.6% of the Tianrun crankshaft income, and the market share of the domestic heavy-duty crankshaft industry reached 38%.

After nearly 20 years of development, the Tianrun crankshaft has formed a stable supporting relationship with major domestic engine plants. The four new crankshaft production line projects invested by Tianrun Crankshaft in the listing of the crankshaft are named after the target customers, and there are clear supporting models. The products of the Xichai project are mainly used for Xichai to replace the current ThyssenKrupp crankshaft, and the two Cummins projects have already obtained the exclusive supporting rights of Dongfeng Cummins and Beiqi Foton Cummins. The new production capacity will be gradually released in three years.

During the online roadshow, when the netizen asked about the future growth point of Tianrun Crankshaft, Sun Haitao, general manager of the company, said: “In the near term, the company’s growth point is mainly due to the expansion of production capacity brought about by the implementation of the investment project. From the point of view, the main reason for this is the production of the disintegration and connecting rod project, the reduction in the cost of iron-based steel technology, and the expansion of overseas markets."

It is understood that the disjointed connecting rod is a new type of engine connecting rod, which has the advantages of high processing accuracy and low cost compared with the traditional cut-off connecting rod, and is the future development direction of the engine connecting rod. At present, this technology is monopolized by the hands of a few international companies such as ThyssenKrupp, Mahler, and Cummins. Tianrun crankshaft has become the first domestic manufacturer to master this technology.

At present, Tianrun crankshaft crankshaft crankshaft production line has completed equipment installation, with an annual output of 800,000 to 100 million capacity, has previously been in the United States Cummins expansion joints international bidding tender, is expected to start after August 2009 Gradually achieve supply. The goal of the Tianrun crankshaft is to achieve an annual output of 1 million crankshafts and 2 million disjointed connecting rods by 2011.

For overseas markets, Tianrun Crankshaft, executive vice president and executive secretary Xu Chengfei said that the company will think that Cummins export support as an opportunity to drive the growth of export business, focusing on European and American markets, and gradually develop emerging markets such as India and Turkey. , The main export customers are Italy Iveco, India Leland, Cummins and so on.

Speaking of the company's future development strategy, Sun Haitao said: "In the next three years, we will develop into a modern, international and open enterprise that integrates casting, forging and machining. We will continue to maintain our leading position in the industry and become the world of the crankshaft industry. Manufacturers and suppliers."

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