Many new companies are on the list! The 2024 Automotive Supply Chain "Double Hundred" is released! New energy and intelligent companies perform outstandingly
2024-08-24
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On August 22, the "White Paper on the Competitiveness of Core Enterprises in the Global Automotive Supply Chain in 2024" (hereinafter referred to as the "White Paper") jointly compiled by China Automotive News and Roland Berger was officially released. Among them, the two lists of "Top 100 Global Automotive Supply Chains" and "Top 100 Chinese Automotive Supply Chains" have attracted widespread attention in the industry.Yuan Wenbo, global partner of Roland BergerIn the interpretation of the White Paper, it is stated that the development trend of global auto parts shows three characteristics: stabilization of revenue scale, rebound in profitability, and continuous drive of "two wheels". In 2023, the overall revenue of the world's top 100 companies will increase by 13.2% year-on-year. At the same time, with the recovery of investment and consumption activities and the recovery of the auto market, the overall profit margin of auto parts suppliers in 2023 will be 6.1%, a significant increase compared to 5.4% in 2022.The list of "Top 100 Global Automotive Supply Chains" includes many internationally renowned auto parts suppliers. Among them, Bosch, Denso, ZF, Mobis, Continental and other companies continue to rank among the top five in the world with their technological innovation capabilities and global layout.This year's list presents the following characteristics: As "electrification and intelligence" in the automotive industry has become a general trend, the leading growth companies in the automotive parts industry and the newly listed companies continue to deepen their layout in related fields to build a fulcrum for future business growth; affected by economic stimulus and regional trade protection, the global revenue share of US and Japanese companies has stabilized, and Chinese and Korean companies have benefited from new energy and continued to expand; the top 100 European companies will see a significant increase in revenue in 2023 due to the post-epidemic recovery and the warming of traditional businesses.Take Bosch as an example. In terms of electrification, it invests in European semiconductor manufacturing companies to increase its silicon carbide chip production, maintain stable local supply and achieve further performance growth. In the field of intelligence, the new redundant braking system tailored for electric vehicles and autonomous driving is expected to achieve faster annual growth than the market, reaching 10%.Among the "Top 100 Global Automotive Supply Chain Companies" in 2024, three Chinese companies are in the top 20, namely CATL, Weichai Group and HUAYU Automotive. This represents the profound accumulation and innovation capabilities of Chinese auto parts companies, and also shows the world the indispensable role and status of Chinese companies in the global automotive supply chain.Xie Rongbin, Party Secretary, Chairman, Editor-in-Chief of China Energy Automobile Communication Group, President of China Automobile News, and Editor-in-Chief of China Energy NewsHe said that the rise of new energy vehicles has not only promoted the rapid development of core technologies such as batteries, motors, and electronic controls, but also led to the vigorous rise of emerging fields such as lightweight materials, intelligent network technology, and autonomous driving solutions. Every breakthrough in these fields is the crystallization of the wisdom and sweat of supply chain companies. With their keen market insight and outstanding technological innovation capabilities, they are constantly pushing the automotive industry towards a greener, smarter, and more efficient direction. China's supply chain companies are devoting themselves to this great transformation of the global automotive industry with unprecedented courage and determination.The top ten companies in the 2024 "Top 100 Chinese Automotive Supply Chain Companies" are CATL, Weichai Group, HUAYU Automotive, BHAPOWER, Joyson Electronics, GAC Components, AVIC Automotive Systems, CITIC Dicastal, Zhongce Rubber and Guangxi Yuchai, covering power batteries, traditional power, automotive electronics, tires, wheels and comprehensive parts companies.Among them, Weichai Group's supply chain revenue in 2023 will be 241.674 billion yuan. Weichai Power's high-end strategic businesses represented by large cylinder diameter and hydraulics continue to exert their strength, and their profit contribution has increased significantly. The M series large cylinder diameter and high power density engines have fully entered the global high-end markets such as data engineering centers and rigid mining trucks, and the product structure adjustment has taken an important step forward.Joyson Electronics' supply chain revenue in 2023 will be 55.32 billion yuan, a year-on-year increase of 11.76%. In 2023, Joyson Electronics will continue to make progress in the fields of intelligent driving, automotive safety, and new energy. For example, Joyson Electronics has launched a number of innovative products such as intelligent driving domain controllers and leap-forward automotive airbags, and has received a 13 billion yuan full life cycle order for a global project of 800V high-voltage platform power electronics from a well-known automaker.The importance of Chinese auto parts companies in today's automotive value chain is increasing. The White Paper shows that in 2023, the scale and total profit of Chinese auto parts companies will rebound rapidly. Traditional parts will recover due to the growth of vehicle production and sales, and intelligent and new energy transformation will still be the main driving force for future revenue and profit growth. Among them, the added value of new energy and intelligent parts revenue accounted for 34% of the total added value, maintaining a dominant position in the revenue structure; the profit growth of new energy parts accounted for 36% of the total added value; the net profit of intelligent electronic parts maintained a growth rate of 200% for two consecutive years; thanks to the increase in production and sales, the revenue growth of traditional auto parts exceeded 100 billion yuan, and the profit increased by more than 10 billion yuan, accounting for 34.7%.In terms of business segments, the revenue growth and profitability of the new energy segment are the most prominent, the revenue growth of the electronics segment is fast, and the engine and traditional business segments are recovering well. Specifically, the revenue of the new energy segment has grown steadily and has become an important revenue pillar of the top 100 parts companies. Among them, 5 companies on the list are power battery suppliers, namely CATL, EVE Energy, Guoxuan High-tech, Sinotruk, and Xinwanda. The scale and profit of the leading companies have grown well and returned to a reasonable range.It is worth noting that there are 11 new companies on the list of China's top 100 automotive supply chains in 2024, namely Honeycomb YiChuang, Xinwanda, Sanhua Intelligent, BOE Varitronix, Jiangsu Longpan, Tianma Microelectronics, Wonder Auto, Aerospace Intelligent Manufacturing Technology, Huawei, Zhongyuan Internal Parts, and Tianrun Industrial. Among them, more than half of the new companies on the list have main businesses related to new energy and intelligence, reflecting the continuous upgrading and changes in market demand. At the same time, local engines and traditional businesses are still developing healthily.For example, BOE's overall shipment volume and shipment area of LCD screens and five major application areas have remained the world's first for many years. BOE Varitronix's smart cockpit products have been fully applied to almost all mainstream car brands in the world. As a leader in the industry, Jiangsu Longpan has been actively exploring new development opportunities on the road of green transformation, focusing on the layout of lithium iron phosphate positive electrode materials and automotive environmentally friendly fine chemicals, and continuously launching innovative product series dedicated to new energy vehicles, and has achieved supporting cooperation with many domestic and foreign companies.R&D investment has always been the core driving force for Chinese automotive supply chain companies to maintain their competitiveness. In recent years, with the acceleration of the "New Four Modernizations" trend, Chinese auto parts companies have increased their investment in technology research and development, striving to achieve breakthroughs in key technology fields, thereby occupying a more advantageous position in the global automotive supply chain.For example, Desay SV has 45.26% R&D personnel, and more than half of them have bachelor's degrees or above. Desay SV has promoted the layout of key technologies and rapid commercialization, and has achieved the first-mover mass production of multiple types of industry-leading product portfolio solutions. Taking the domain controller solution as an example, Desay SV has achieved a comprehensive layout and implementation from lightweight to medium and high computing power domain control, creating a flagship product for the industry and itself.Huawei's intelligent vehicle solution business will enter the stage of large-scale delivery in 2023. Data shows that Huawei's intelligent vehicle solution business achieved sales revenue of 4.7 billion yuan, a year-on-year increase of 128%. Huawei attaches great importance to research and innovation. In 2023, its R&D investment reached 164.7 billion yuan, accounting for 23.4% of its annual revenue. The cumulative R&D investment in ten years exceeded 1.11 trillion yuan.Roland Berger Global Partner Wu ZhaoHe said that parts companies are entering a window period for going overseas and moving towards global operations, which requires companies to deepen operations and iterate quickly to seize global opportunities and form a second growth curve driven by overseas markets.For example, CATL achieved remarkable results in going overseas in 2023. In 2023, CATL obtained new orders from many international mainstream automakers such as BMW, Daimler, Stellantis, Volkswagen, Hyundai, Honda, etc.; signed a strategic memorandum of understanding with Stellantis to supply it with lithium iron phosphate batteries in the European market, and made many other progress.With the recovery of the global automotive industry chain and the resumption of travel activities, the demand for tires has picked up, and my country's tire companies have been booming in production and sales, and the industry's prosperity has continued to improve. At present, Linglong Tire has built two production bases in Thailand and Serbia, and is planning to build a third overseas factory. At the end of 2023, Sailun Tire announced that its subsidiary Sailun Singapore signed a joint venture agreement with Mexico's TD Company, planning to invest US$240 million in Mexico to build a factory with an annual output of 6 million semi-steel radial tires. This is the first layout of a Chinese tire company in North America.Ye Shengji, Chief Engineer of China Association of Automobile ManufacturersHe said that at present, China's new energy intelligent connected vehicles have formed certain development advantages on a global scale, and automobile supply chain companies have seized the rare historical development opportunities and built a Chinese-style automobile industry chain supply chain system. However, we must also be soberly aware that China still has a long way to go to become a real automobile power, and there is still a lot of work to be done. The market competitiveness of domestic parts companies still lags behind that of international giants, and the shortcomings and weaknesses cannot be ignored. In this regard, he put forward four suggestions. The first is to further strengthen the research on common basic technologies. The second is to follow the general trend of interdisciplinary and cross-industry integration and development. The third is to accelerate the process of promoting the overseas expansion of the industrial chain and supply chain. The fourth is to comprehensively promote the green and low-carbon development of the automobile supply chain."We hope that through continuous technological breakthroughs and market expansion, Chinese auto parts companies will be able to occupy a more core position in the global automotive supply chain and contribute more 'Chinese wisdom' and 'Chinese solutions' to the sustainable development of the global automotive industry," said Xie Rongbin.Appendix: "Top 100 Chinese Automotive Supply Chain Companies in 2024", "Top 100 Global Automotive Supply Chain Companies in 2024"Text丨China Auto News reporter Zhao Lingling
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