The automotive interior market space broadly Xinquan shares to issue convertible bonds raised 1.16 billion yuan to expand production

Our reporter Chen Hong

On September 13, Xinquan announced that the company's proposed issuance of convertible bonds raised not exceeding 1.16 billion yuan. funds.

In an interview with the reporter of the Securities Daily, Zhou Xibing, a researcher at the Software Research Center of China Enterprise Enterprise: "Xinquan Co., Ltd. expands the reproduction of funds through raising funds, and the layout of production capacity will increase the space, which is conducive to improving the company's own competitive advantage.对投资者更有吸引力，如果债券持有人不想转换，则可以继续持有债券，直到偿还期满时收取本金和利息，或者在流通市场出售变现，激活投资者的投资热情；缓解公司The cash flow problem in operation and project construction, activating the company's relatively radical financial expansion strategy, and maximizing the efficiency of project construction. "

Expand production capacity to enhance the supporting capacity

"Securities Daily" reporter learned that Xinquan Co., Ltd. is a professional car accessories overall solution provider. The main products include instrument board assembly, intraocular shelter assembly, column guard assembly, assembly of flowing sinks The bumper is generally completed, and the company's products cover the field of commercial vehicles and passenger cars. In recent years, benefiting from the cooperation with the original customers' explosive models and the development of the new energy vehicle market, Xinquan's orders have increased significantly. In the first half of 2022, its operating income was 2.813 billion yuan, an increase of 24.38%year -on -year; net profit was 167 million yuan, a year -on -year increase of 1.66%.

The announcement shows that the upgrade and expansion project of the Shanghai Intelligent Manufacturing Base (Phase I) and the Intelligent Manufacturing Hefei Base Construction Project of Automotive Decoration are the key investment projects of Xinquan Co., Ltd., with a total investment of 679 million yuan and 362 million yuan, respectively. 100 million yuan and 304 million yuan, the project construction period is 2 years.

Specifically, the Shanghai Intelligent Manufacturing Base Upgrade and Expansion Project (Phase I), Xinquan plans to build a new type of industrial supporting base to meet the needs of Tier0.5 business cooperation in Shanghai's vehicle customers; the investment in this project is 15.91%, The after -tax recovery period is 7.76 years. "The project further deepen the coordinated support relationship with the entire vehicle manufacturer, promote the improvement of the company's coordinated innovation capabilities, and achieve the growth and growth of the vehicle manufacturers." Xinquan said.

Automotive decoration intelligent manufacturing Hefei base construction projects. The company will build automated jewelry product production lines by introducing advanced domestic and foreign production equipment to achieve local supporting services for customers in Hefei and surrounding areas. The investment in this project is 13.94%, and the after -tax recovery period is 7.97 years. "In view of the rapid development of the new energy vehicle industry in Hefei, the implementation of the project will accelerate the improvement of the company's manufacturing base, meet the nearest supporting needs of customers in the Hefei area, improve supply efficiency, reduce transportation costs, improve the company's overall overall company Profitability; on the other hand, it will also improve the company's product supply capacity and improve the market share of the company's products. "Xinquan said.

In addition, in order to meet the company's business development demand for mobile funds, Xinquan also intends to use 348 million yuan of this fundraising to supplement the mobile funds. In this regard, some brokerage analysts told reporters: "The company is in the rapid development stage. In recent years, it has continued to open up the new energy vehicle market, which requires a lot of capital support. 63.98%, 47.59%, 49.34%, and 51.80%, respectively, have a high debt ratio. Supplementary mobile funds can optimize the debt structure. After the company's operating funds are further enriched, it will better help R & D and innovation, further enhance the company in the field of automobile decoration fields. R & D level and industrial production capacity. "

The car interior market space is broad

Xinquan Co., Ltd. is in the automotive parts industry. In recent years, the world has vigorously promoted the development of the new energy vehicle industry, creating good opportunities for the development of the industry.

According to data released by the National Passenger Car Market Information Joint Conference on September 5, in August 2022, the national new energy passenger car market will maintain a good situation. In August, the passenger car market retail sales of 1.879 million units, an increase of 29% year -on -year increased by 29% , Increased by 3%from last month. Among them, the wholesale volume of new energy passenger cars increased by 100%year -on -year. Based on the steady increase of the sales of new energy passenger cars, the sales volume of new energy passenger cars in 2022 may reach 6 million vehicles, and sales forecasts may still be increased at the beginning of the fourth quarter.

The car interior market space is broad, and Xinquan shares are expected to benefit full. Guo Xin Securities Analyst Tang Xuxia believes: "The current size of my country's automotive industry (except seat) market size is about 140 billion yuan, and the global automotive market size is about 420 billion yuan. Xinquan's growth potential has great potential."

Zhou Xibing believes: "The demand for the preservation of Chinese cars has not yet reached saturation, the potential of residents' purchase of cars continues to release, and the car decoration industry has a broad prospect; the growth of global car users will continue to release the potential of automobile -related ecological chains, activate car accessories, etc. The vitality of related industries. "

Zhang Xiaorong, dean of the In -depth Science and Technology Research Institute, said: "The new energy vehicle industry is driven by policy, entering the rapid growth period, the market size expands rapidly, the number of supporting projects has increased, and the driving car accessories market has continued to strengthen.The interior of the car caters to the personalized needs of users, and it is expected to drive the value of the interior value of bicycles. "" In the process of embracing new energy vehicles, the focus of the development of the car interior industry should be technology, innovation, and cost reduction under process improvement.Increased efficiency, etc. Only in this way can we improve their sustainable industry competitiveness and improve profitability. "Bai Wenxi, chief economist of IPG China, told the Securities Daily reporter.

(Edit Bai Baoyu)

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