Does the "big tree" of Sheng Jun Electronics shine by Tesla or bring its own light?

[car home? Industry] Tesla, which vowed to make 100% of its parts domestically, is a feast that China automobile supply chain manufacturers can't miss. The industry expects that the scene of Apple's rise and reshaping the smart phone supply chain can also be replicated in domestic Tesla.

Sheng Jun Electronics, a component enterprise in China, has been highly concerned by the industry since this year. In February 2020, Sheng Jun Electronics' Shanghai Lingang Sheng Jun Automobile Safety System Co., Ltd. (hereinafter referred to as "Sheng Jun Lingang Safety") received a letter of intent from domestic Tesla and became a Tesla model. 3 and model? Y-type supplier. Tesla has started the sales frenzy mode since 2020. Will Sheng Jun Electronics use Tesla to achieve rapid development? A few days ago, it was the open day of Sheng Jun Safe Harbor Factory. Let's go to the site to find out.

In the past, due to the weak R&D capability, China spare parts enterprises rarely received the attention of the industry. In 2004, Sheng Jun Electronics was established in Ningbo. At the beginning, its products only involved low-threshold parts such as engine intake pipe and air conditioning outlet.

Since 20 1 1, Sheng Jun Electronics has successively acquired the German automotive electronics company PREH, the German robot company IMA, the German QUIN, the American KSS, the German TS and the Japanese Takada, enabling them to quickly acquire the core technologies of overseas companies and achieve counter-attacks.

In just eight years, Sheng Jun Electronics' revenue has increased by nearly 50 times, becoming the second largest supplier of automotive safety systems in the world (Autoliv first), with a global market share of about 30%.

■ Borrow Tesla's "halo"?

With such volume and market popularity, it is logical for Sheng Jun Electronics to enter the domestic Tesla supply chain system. In fact, before Sheng Jun Electronics received the fixed-point letter of intent from domestic Tesla, it had already supplied Tesla in North America.

"Sheng Jun Safe Harbor Factory"

In order to cooperate with Tesla's domestic production, Sheng Jun Safe Harbor was formally established on May 22nd, 20 19, with a total investment of 420 million yuan, only 3km away from Tesla Giga Shanghai. The company is mainly engaged in the design, development, testing, manufacturing and sales of automotive passive safety systems, and its products include airbag modules, seat belts, steering wheels and integrated products of automotive safety systems.

Since 2020, Sheng Jun Security Lingang has gradually provided domestic Tesla with automotive safety system products such as steering wheel and airbag, and the life cycle of the order is about 3-5 years. It is reported that the current order for Tesla-related products is 7.5 billion yuan (full life cycle), and the annual production capacity of the steering wheel production line prepared by Sheng Jun Baoan Lingang for Tesla can reach up to 1.6 million sets.

"airbag production line"

There are many suppliers who want to approach Tesla, which can be verified from the stock market. However, in the open day of Sheng Jun Safe Harbor, Sheng Jun Electronics introduced the factory situation, product "hard core" technology and future planning to investors and the media, but the specific details of supplying Tesla seemed to be deliberately avoided. "The leaders are disgusted with our hot spots." A Sheng Jun electronic market expert said this.

The capital market will always tend to be rational, and more and more enterprises are beginning to realize that it is not the key to be among Tesla's "friends circle", but to cultivate core competitiveness. In fact, Sheng Jun Electronics does not need to rely too much on Tesla's "aura". As can be seen from the business orders, Tesla's orders only account for a small part of them. By August 2020, the new orders of JSS in China have reached 654.38+0 billion yuan (the whole life cycle), and new customers include Great Wall, Geely, GAC, SAIC-GM and Ford.

During this period, a steady stream of applicants came to Sheng Jun Safe Harbor. "There was basically no shutdown after the epidemic resumed work." Zhu Xiaofeng, vice president and chief operating officer of Sheng Jun Automotive Safety System in China, told car home, "We are constantly expanding our staff. In August alone, we recruited more than 65,438+000 people. At present, the number of employees in the Lingang factory has exceeded 1000. "

"It is estimated that by 2025, Sheng Jun Security's market share in China will reach 40% and its sales will reach 654.38+05 billion yuan." Shan Jinhui, global executive vice president of Sheng Jun Automotive Safety System and president of China, said.

■ More than 65,438+00,000 sets of steering wheels are shipped every day.

Through business integration in recent years, at present, Sheng Jun Electronics has four major businesses: automobile safety system, functional parts and assemblies, automobile electronic system and intelligent car coupling system. Among them, automobile safety system is the main income source of Sheng Jun Electronics, accounting for about 70%.

Shengjun Port plays an important role in many factories in the world. It is reported that at present, the annual output of the steering wheel of this factory can reach 3.2 million pieces, accounting for one third of the global steering wheel production capacity, and the average daily shipment exceeds 10000 sets of steering wheels. In addition, the annual production capacity of airbags is 27 million, and the production capacity of retractor is 6.5438+million.

The steering wheel is a traditional part, but there is a lot of hidden knowledge in it. As far as factory facilities are concerned, Sheng Jun Security Harbor has four functional laboratories, namely, physical environment laboratory, ignition laboratory, chemical laboratory and measurement room, which are used to develop automobile airbags, steering wheel, seat belts and system integration.

"CT equipment"

What impressed me more was a CT device, similar to medical equipment. The assembled steering wheel can be nondestructive tested, that is, internal inspection, assembly analysis, digital model installation and dimension measurement without disassembling the product. "The cost of this equipment is nearly 4 million yuan, and there are no more than 5 sets in China." On-site staff introduced.

Technically, the steering wheel needs skeleton, foaming, coating and assembly. "Lingang Factory has introduced an intelligent factory management system, and many processes have been automated." Zhu Xiaofeng said, "In order to obtain better feel and safety requirements, some customers require pure hand sewing, which is irreplaceable by machines."

According to the scene, the leather of the steering wheel belongs to Napa and belongs to the same company as some suppliers of luxury bags. Napa leather of a cow can only make 1-2 sets of steering wheels. In view of the scarcity and high price of the first layer Napapi, it will only be considered in high-end models. It is reported that Weilai, Audi, Hongqi and other car companies have cooperated with Sheng Jun Electronics to take the lead in application. These high-end product orders can improve the gross profit margin of Shengjun Electronics.

"The middle part of the steering wheel is covered with Napa leather."

"As a safety system component, regardless of the regulatory requirements or technical requirements of various countries, there is a trend of rising volume and price, and we are on the right track." Chen Wei, executive vice president of Sheng Jun Electronics and chairman of China Sheng Jun Automotive Safety System, said.

With the advent of autonomous driving and the improvement of safety requirements by laws and regulations, the application scenarios of safety system products have become more complicated, the research and development threshold has become higher and higher, and the unit price has gradually increased.

In this year's new order, the driver monitoring system (DMS) has been mass-produced on Cadillac models, and the China brand has also been promoted. This technology can track the driver's head position and facial features in real time, identify the driver's line of sight and warn the driver to concentrate on driving.

■ New orders in the first half of the year were 25.3 billion yuan.

This large-scale acquisition has indeed brought a series of competitive advantages to Sheng Jun Electronics, but this year is unusual. Due to external factors such as COVID-19, the global automobile industry has been hit hard, and the global automobile sales have dropped by about 28%. Judging from the financial report in the first half of the year, more than half of the top ten automakers have lost money, and the parts companies as a whole are also in trouble.

For Sheng Jun Electronics, which occupies 78% of the overseas market, just like the international auto parts in the world, it had to "fill the audience" during the epidemic period, dealing with the domestic market first and then the global market. However, during the period of large-scale mergers and acquisitions, it greatly increased the management pressure of Sheng Jun Electronics.

In the first half of 2020, Sheng Jun's electronic revenue was 20.5 billion yuan, down 33% year-on-year, and Guimu's net profit lost for the first time in three years. This report card is not easy for Sheng Jun Electronics. "Although the epidemic has brought challenges, we have withstood the pressure through global cooperation." Chen Wei said, "At present, the effect of integration is satisfactory."

Chen Wei, Executive Vice President of Sheng Jun Electronics and Chairman of Automotive Safety System of Sheng Jun, China.

Fortunately, under the general trend of declining revenue and net profit, Sheng Jun Electronics increased its orders by 25.3 billion yuan in the first half of the year, which made the market have certain expectations for its performance in the second half of the year.

According to Chen Wei, the company is full of confidence in the general trend of technological change. Whether it is a new energy vehicle or a self-driving vehicle, the safety system is always the core product, which conforms to the future development trend, and the production capacity of the Lingang factory is gradually increasing.

In the second half of the year, Sheng Jun Electronics will expand its production capacity and pay close attention to domestic order production. After winning the security of Hungary's "super factory"? After the upgrade from 2065438 to June 2009, 1 1, Sheng Jun Safety Ningbo Factory will also be upgraded to a "super factory" and become the most advanced production base of automotive safety system products in Sheng Jun Electronics.

In addition to the safety system, since 20 19, Sheng Jun Electronics has turned its attention to new energy business with higher gross profit margin, providing 800V fast charging system for Taycan, the first pure electric vehicle of Porsche, BMS, charging and discharging and intelligent car coupling system for domestic FAW-Volkswagen and SAIC-Volkswagen MEB platform models, and BMS and other products for Mercedes-Benz MFA2 platform models. It is reported that Sheng Jun Electronics' revenue from new energy business in the first half of the year was about 580 million yuan, up 74% year-on-year.

At the same time, Junlian Zhixing, a subsidiary of Sheng Jun Electronics Co., Ltd., will start the mass production of its first-generation V2X car-end products independently developed in 20021year, which is expected to become the world's first 5G-V2X mass production project. These new racetracks are the results of early M&A of Sheng Jun Electronics, and now they are gradually playing a synergistic role.

■ Conclusion:

Back to the original topic, will Sheng Jun Electronics make rapid progress with Tesla? For Sheng Jun Electronics, the word "borrowing" is obviously not accurate enough, and mutual promotion is the best answer. Nowadays, Tesla's "catfish" has already baptized China's new energy vehicle supply chain, and many local small and medium-sized professional parts enterprises have also grown rapidly with the localization of Tesla.

Next, we should consider how local parts enterprises in China carry out business layout under the changes of automobile transformation and external environment, and how to combine their own development advantages to continuously promote high-threshold core technologies. Only when you become that big tree, you don't need to rely on the aura of others. (Text/car home? Peng Fei)