Shangchai Corporation announced that it has signed a strategic cooperation framework agreement with SAIC-GM-Wuling, including: SAIC Motor will become a core supplier of SAIC-GM-Wuling, and will strengthen the diesel engine business of small cars in product development, while Shangchai will build 400,000 in Liuzhou and Shanghai. Taiwan engine production base. We believe that the signing of this framework agreement is of great significance to the development of Shanghai Diesel International Shares. At the same time, it will improve its R&D production capacity, make full use of the advantages of its customers within the Group, and have a clear strategy. After the first attention in the third quarterly report, it is recommended to pay attention to it and maintain a prudently recommended investment rating.
We maintain our 3rd quarterly report on our company. 3 QUARTERLY We covered the company for the first time. We believe that in terms of products, staffing, etc., Shangchai’s shares are different from previous old state-owned enterprises’ image, and they have reduced their weight and increased their investment in product lines. There have been major changes in customer expansion. The same will remain unchanged, and changes will hopefully change the future of the company. From Shanghai Electric (3.88, -0.04, -1.02%) to the Shangchai Co., Ltd., in a market with many changes before, Shangchai shares the use of resources within the group is particularly important, more important is to have the ability to grasp according to market rules.
The cooperation between Shanghai Diesel and SAIC-GM-Wuling is of great significance:
2) In the past three years, Shangchai’s stocks have become more abundant. From the previous situation in which there was less weight, the company has turned into an independent supplier with a full range of products ranging from 0.9L to 12L. Ten shortcomings, but in the long run, the richness of the diesel product line has great benefits for its expansion in its internal and external business.
3) As we briefly analyzed among the three quarterly reports, the future growth of Shanghai Diesel International Shares is a model that has grown from an old state-owned enterprise to a modern manufacturing enterprise. Control over costs and other aspects is worth looking forward to.
Investment advice and risk warning: Continuation of our view in the third quarter, we estimate EPS for 2012 and 2013 to be 0.2 and 0.42 yuan. The growth in changes is the focus of our attention, and we maintain a cautious recommendation of -A investment rating. We recommend focusing on the issue. The main risk lies in the intensified competition in the industry brought about by the economic downturn and the decline in overall profitability.
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