Founder Motor Seat Motor Goes Unmanned Production

- Dec 11, 2018-

Founder motor seat motor goes unmanned production

Founder Motor's latest 2017 annual report on April 20 showed that its operating income was 1.32 billion yuan, up 25.61% year-on-year; the net profit attributable to shareholders of listed companies was 132 million yuan, up 11.84% year-on-year.

The general manager of the company, Cai Junxi, said that Founder Motor (002196) [AI decision] began to transform the intelligent manufacturing in 2016, and partially automate and fully automate the manufacturing process of the car seat motor and drive motor. By 2020, the car seat The chair motor business will basically realize unmanned production and manufacturing, and the drive motor will also realize intelligent manufacturing with the increase of output.

Wolong Electric's first quarter profit growth of 238%

Wolong Electric released its 2017 annual report and the 2018 first quarter report, and its profit increased by 163% and 238% respectively. The company continues to focus on the main business of the motor, and the new energy vehicle motor is expected to continue to break through; maintain the overweight rating.

Main points of support rating

2017 earnings growth of 162.51%: The company released the 2017 annual report, the annual income of 10.068 billion yuan, an increase of 13.15%; the realization of profit of 665 million yuan, an increase of 162.51%, corresponding to EPS of 0.52 yuan; deducted after the profit of 182 million yuan , a year-on-year increase of 124.94%. The company's annual report results are consistent with previous performance forecasts and are in line with expectations.

In the first quarter of 2018, the company maintained a high growth rate: the company released the first quarterly report of 2018, realizing income of 2.47 billion yuan, an increase of 10.68%; achieving profit of 116 million yuan, an increase of 238.39%, corresponding EPS of 0.09 yuan; Ten thousand yuan, an increase of 173.49%.

The revenue of the motor business grew steadily, and the gross profit margin of high-voltage motors rebounded remarkably: the company's high-voltage motor business achieved revenue of 2.344 billion yuan, a year-on-year increase of 33.5%, affected by the recovery of oil and gas, coal, refining, steel, mining and shipbuilding industries in the downstream industries. The gross profit margin increased by 6.71 percentage points year-on-year to 22.00%. The revenues of low-voltage motors and micro-motors increased by 9.72% and 24.76%, respectively.

Non-core assets were disposed of one after another, and core asset acquisitions progressed smoothly: the company completed the sale of Yinchuan Wolong, Wolong Transformer, Yantai Transformer and Beijing Huatai in 2017. In addition, the company has signed an agreement with GE to acquire its small industrial motor business, further focusing on the core motor business.

Breakthroughs in new energy vehicle motors: The company has become an important motor supplier for major domestic new energy vehicle manufacturers such as Beiqi New Energy; the annual report reveals that the company has obtained the first phase of a world-renowned auto parts company with more than 500,000 new energy vehicles. A fixed-point letter for driving motors and components, corresponding to a new energy passenger car that will be put into production by a global mainstream luxury car company. It is expected that in the future, the company will increase the allocation of resources for new energy vehicle drive systems and form new profit growth points.

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