Huawu Co., Ltd.: one of the three gold medal suppliers of Chengfei, the domestic industrial brake leader

First, Chengfei listed as a whole, a cross-era event

The significance of listing, I will not repeat it, AVIC is expected to refresh the record of 20cm board on the ChiNext!

There are many companies involved in Chengfei, but there are not many core companies, and there are only three gold suppliers disclosed by Chengfei:

1. Xiling Power. Chengfei Group is an important customer of the company. Based on the core precision manufacturing process, the company laid out the aviation and military parts market in 2018, and its business was mainly engaged in the production of body structural parts and sheet metal parts. In April 2021, the company acquired Chengdu Xinsanhe consolidated the table, Chengdu Xinsanhe is mainly engaged in precision manufacturing and special process processing of military aircraft, civil aircraft parts, and aero-engine parts, and its main customers are AVIC Chengfei, AVIC Xifei, etc. The company's aviation and military parts business capacity has been gradually released since 2021 and began to contribute to performance.

2. Huawu shares. Ande Technology, a wholly-owned subsidiary, is a leading supplier in the field of Chengfei process equipment, with a high market share, benefiting from the expansion of Chengfei's production capacity and the increase of Chengfa's key engine models. The company has participated in the supporting development and production of a variety of models involving tens of thousands of aviation tooling, and also participated in the aircraft CNC machining business in small quantities.

3. Guangyunda. Through the wholly-owned subsidiary Tongyu Aviation bound to Chengfei, strengthen the CNC machining of precision parts, aviation supporting tooling design and manufacturing business, military aircraft 3D printing and commercial cluster UAV are highlights!

Second, Ande Technology, a subsidiary of Huawu Co., Ltd., is the head supplier of Chengfei aviation process equipment

The company's aerospace and military industry fields include Ande Technology and Changsha Tianying. Ande Technology is the core supplier of Chengfei and Chengfa, benefiting from the expansion of Chengfei's production capacity and the expansion of Chengfa's key engine models. Ande Technology is mainly engaged in the design and processing of engine receivers and thrust reversers and aviation parts, mainly providing supporting facilities and services for large military enterprises such as Chengfa and AVIC's Chengfei and Xifei. Changsha Tianying is engaged in military drone maintenance business and shows good growth.

1) Ande Technology is the head supplier of Chengfei aviation process equipment, participating in the supporting development and production of a variety of models involving tens of thousands of aviation tooling, and also participating in aircraft CNC machining business in small quantities. Aviation industry Chengfei for our army to provide J-20, J-10C and other main battle aviation equipment, aviation industry production is increasing year by year, multi-model batch production parallel advance, especially the fourth generation of stealth fighter J-20 is in the stage of rapid climbing volume, production pressure is huge, it is expected that the production line continues to expand, the resulting demand for process equipment and other needs has increased significantly, the company is now a leading supplier in the field of Chengfei process equipment, occupying a high market share, the core benefits from this process.

In addition, in 2019, the company used 80 million yuan to invest in the construction of "aviation aircraft parts mass production project" to strengthen the pace of development in the aviation field, according to the announcement, the project construction period is expected to be 2 years, after the project is put into production, it will be able to better undertake aviation manufacturing orders from several major OEMs such as Chengfei, benefiting from the current industry OEM gradually improve the industry trend of outsourcing processing, and the business volume will go to a big level.

Ande Technology is equipped with an aero-engine receiver and thrust reverser device, with rapid growth in short-term performance and large space for long-term growth. The main model of AECC Chengdu Engine Company is the turbofan-18 (WS-18) aircraft engine, which is mainly used for the domestic replacement and new installation of the Russian-made D-30KP-2 engine equipped with the Continental H-6K bomber and the Y-20 and other equipment. With the maturity of the WS-18 engine, we expect to usher in a large number of new installations and replacement needs this year and subsequently, and Ande Technology will directly benefit from the rapid ramp-up of key aircraft engine models of Chengfa Company.

In 2018, Ande Technology achieved revenue of 114 million yuan, a year-on-year increase of 34.36%, and a net profit of 42.22 million yuan, a year-on-year increase of 22.25%. In 2019, due to the relocation of the factory site, the performance may be affected to a certain extent, but the two major OEM customers Chengfei and Chengfa have strong demand, and have recovered in 2020, and it is expected to recover the high prosperity reflecting the two directions of Chengfei and Chengfa.

2) Military UAV maintenance business, benefiting from the trend of unmanned weapons and equipment, the company takes the lead in the UAV maintenance market and has growth potential. Following the acquisition of Sichuan Ande Technology in 2016, the company acquired a 51% stake in Changsha Tianying through capital operation in 2018. Changsha Tianying is committed to aviation equipment design and manufacturing, industrial-grade fixed-wing UAV and trainer aircraft and other models of assembly and maintenance, aircraft maintenance support special equipment design and manufacturing, is the first batch of private military industry in Hunan Province to obtain two certificates in one certificate of the enterprise, in 2018 successfully signed a military UAV repair contract, into the military aircraft maintenance market, the future has a better growth space, Changsha Tianying 2019-2021 promised net profit of 2000, 3000, 40 million yuan, The net profit commitment attributable to the parent is 1020, 1530 and 20.4 million yuan.

The domestic industrial brake leader is becoming a competitive global brake leading enterprise spanning multiple fields. The company is currently a professional manufacturer of industrial brakes and a provider of industrial brake system solutions with large domestic production scale, complete product variety, wide industry coverage, and strong independent innovation ability. Products are widely used in ports, rail transit, wind power generation, metallurgy, mining and construction machinery, water conservancy and power engineering, shipbuilding and marine heavy industry, oil drilling and other industries, and a large number of supporting exports to 92 countries and regions around the world.

1) The company is an important supplier of industrial brakes in the field of heavy equipment manufacturing industry, according to the company's announcement, its market share ranks first in the industry, the main customers include Zhenhua Heavy Industry, Baosteel and other well-known enterprises in the industry, port machinery products are exported to large ports in more than 70 countries and regions around the world.

2) The market share of the wind power market is in the forefront, and the main customers basically cover the main domestic wind power equipment host manufacturers, including Goldwind Technology, Xiangpower Co., Ltd., Guangdong Mingyang, Shanghai Electric, Sinovel Wind Power, etc. In the first half of 2019, the sales revenue of the company's industrial brake products increased by 33.65% over the same period last year, of which the revenue of wind power products was 143 million yuan, an increase of 98% over the same period last year.

3) The company takes the brake industry as the foundation of the enterprise, is creating a multi-level and multi-gradient market distribution pattern from port machinery, wind power equipment to rail transit equipment, and strives to become the world's most competitive brake leading enterprise spanning multiple fields, and it is expected that the company's brake business will benefit from wind power, port equipment and other industries will maintain a high growth rate.