Huawei's most expensive model, the M9, will shine again at the end of 2023!
Technology and innovation are undoubtedly the biggest selling points of the new car, intelligent driving brings a better experience, and the high-strength body structure escorts passengers.
The "Xuanwu body" used in the new M9 car is the world's largest one-piece die-cast rear body, which makes the body lighter while still providing high enough safety performance. Behind this is undoubtedly inseparable from the strong support of Cialis and integrated die-casting enterprises.
What are the advantages of integrated die casting over traditional parts?
However, due to the high coefficient of thermal expansion, low melting point and easy oxidation of aluminum alloy, the use of traditional stamping and welding process is easy to cause problems such as deformation, porosity and low coefficient of welded joints.
Therefore, the integrated die-casting technology should be born at the right time, which can use a super-large die-casting machine to directly obtain complete parts by using a super-large die-casting machine to directly obtain a complete part of the machine, greatly reducing the stamping and welding process, and optimizing the performance of the structural parts.
Since 2021, new domestic forces such as NIO, Ideal, Xpeng, and Huawei have taken the lead in layout, and traditional domestic OEMs such as Mercedes-Benz, Ford, Volkswagen, Volvo, Changan, and FAW have also stepped up their planning.
In 2023, integrated die-casting will go from expectation to fulfillment, and 2024 is expected to usher in a penetration inflection point, which is mainly reflected in three major characteristics.
The first is the further expansion of the range of applications. At present, the industry has realized the integrated mass production of front and rear floors and CD columns, and the integrated die-casting of battery trays is expected to make a substantial breakthrough in 24 years, further driving the value of the bicycle from the current less than 5,000 yuan to more than 7,000 yuan.
The second is the further acceleration of industry penetration. In 2024, many models of domestic new forces, mainly new forces such as Wenjie and Ideal, will enter mass production, using more integrated die-casting components than traditional car companies, and the market penetration rate will increase.
Finally, the process of integrated die-casting industry is accelerating. In 2024, it is expected that overseas traditional automakers will also realize integrated die-casting technology, and the global market share will further increase by switching from traditional parts manufacturing to body bodies using integrated die-casting technology.
The innovation of automobile body technology is continuous, and the integrated die-casting has achieved remarkable results in reducing costs, reducing weight, and improving production efficiency, which is expected to replace stamping and welding as a standardized production method in the era of electric vehicles.
How big is the market for integrated die casting?
At present, the new domestic car-making forces represented by Wei Xiaoli have laid out integrated die-casting for some of their more than 300,000 pure electric vehicles or next-generation platforms, and we expect that the market is expected to usher in more integrated die-casting models in 2024.
From the current progress of integrated die-casting penetration, considering the sufficient supply of die-casting machines, the nacelle will be mass-produced before 2023, and the pre-floor and battery tray will be mass-produced by 2024, the penetration rate of new energy passenger vehicles in the rear floor from 2022 to 2025 will be 7%/12%/19%/31%, the new energy penetration rate of the front deck from 2023 to 2025 will be 4%/8%/15%, and the new energy penetration rate of the front floor + battery tray will be 5%/18% from 2024 to 2025.
In 2025, the domestic integrated die casting market is expected to reach 29.9 billion yuan, and the average annual growth rate from 2022 to 2025 will reach 177%. The main growth factors are the acceleration of industry penetration, the use of more integrated die-casting components for bicycles, and the use of more integrated die-casting components for new energy vehicle models, both of which have brought about the improvement of industry space.
How is the market pattern of the integrated die-casting industry chain distributed?
The upstream of the integrated die-casting industry chain is composed of heat-free aluminum alloy material manufacturers, die-casting machines and die-casting mold manufacturers, the midstream is third-party die-casting enterprises and automakers with self-built production lines, and the downstream is directly connected to automobile OEMs.
For the midstream of the industrial chain, the new forces of car manufacturing do not have the pressure of the old production line, and the transformation of the integrated die-casting process is easier.
In terms of the pattern of domestic integrated die-casting manufacturing, due to being in the stage of incremental track, it attracts the layout of most companies, but considering the current process barriers and business model characteristics, the market pattern will show a trend of head concentration.
These third-party die-casting companies include Wencan Co., Ltd., Guangdong Hongtu, Tuopu Group and other enterprises have mass production capacity and have leading advantages in the industry.
Wencan Co., Ltd., the company began in the second half of 2020, from the materials, molds, equipment and other aspects of large-scale integrated structural products research and development, the company has obtained a number of customers large-scale integrated structural parts rear floor project, front cabin project, upper body integration project designation, in the field of large-scale integrated structural products in the forefront of the industry.
On March 12, 2023, the company obtained the designation of an integrated die-casting product project of a leading new energy vehicle main engine factory, with an estimated total project amount of 450 million yuan to 500 million yuan. On July 21, 2023, the subsidiary was designated by a leading domestic new energy vehicle manufacturer, and the project amount is expected to be about 2.3-2.6 billion yuan. The company has also received a designation from a well-known domestic lithium battery manufacturer, and the total sales amount is expected to be about 1.4-1.5 billion yuan. The total orders in hand of the three companies are about 4.5 billion.
The company's customer base includes Volkswagen, Mercedes-Benz, BMW, Tesla, NIO, Li Enterprise, Xpeng, Celis and other OEMs, as well as ZF, Bosch and other world-renowned first-tier auto parts suppliers. The company directly provides aluminum alloy body structural parts and integrated structural parts to Cialis, of which the value of the M5/M7 body structural parts is about 3,500 yuan, and the value of the M9 body structural parts and integrated die-casting bicycles is about 5,000 yuan. It can be said that it is an important hero behind Huawei cars.
In terms of performance, from 2019 to 2022, the company's annual revenue and net profit have grown steadily. In the first three quarters of 2023, the production and sales volume of the company's core customers NIO and Cialis declined month-on-month, the company's revenue increased, but net profit fell sharply. With the hot sales of Huawei's new M7 and M9 in the fourth quarter, the company's revenue and net profit are expected to return to growth.
In general, the trend of integrated die-casting of new energy vehicles is unstoppable, and related enterprises will continue to benefit.
Special statement: The content only represents personal views and does not constitute any investment guidance, according to which you buy and sell, profit and loss at your own risk, the stock market is risky, and investment needs to be cautious!