"The way to secure the country and enrich the people lies in reversing the original and establishing the way." Industry has always been the foundation of Xiaoshan's district, the foundation of a strong district, and the strongest support for building a competitive advantage in the future.
Among the enterprises participating in the cross-axis universal joint assembly in the mainland, the large-scale listed companies mainly include Wanxiang Qianchao and Zhengqiang shares.
It is quite fateful that both companies were founded in Xiaoshan. From the perspective of development time, Wanxiang Qianchao can be regarded as the "guide" of Zhengqiang shares.
In 2021, Zhengqiang shares will be listed on the venture capital sector of the Shenzhen Stock Exchange, with an issue price of 17.88 yuan and an opening price of 49.89 yuan, an increase of 179%. However, going public is the pinnacle. Since then, the stock price trend of Zhengqiang shares has been weak, and there has been no sign of "strong" so far.
As of the close of trading on May 13, the latest market value of Zhengqiang shares was 2.034 billion yuan, and the latest market value of Wanxiang Qianchao was 17.44 billion yuan, with a huge gap.
Deeply cultivated in the field of automotive transmission
Zhengqiang Co., Ltd. is mainly engaged in the research and development, production and sales of automotive cross-shaft universal joint assemblies, knuckle forks, cross-shafts and related parts. The company's products are mainly used in automotive steering systems and transmission systems, and belong to automotive safety parts and wearing parts.
At present, Zhengqiang's products are sold to the main engine market and the after-sales market at the same time, and are mainly sold directly to domestic and foreign auto parts suppliers in the main engine market, and the OEM model is mainly adopted in the aftermarket. It has established a solid cooperative relationship with well-known auto parts suppliers at home and abroad, such as Bosch Huayu, GMB, IFA, GKN, Jiangsu Nanyang, DANA, MERITOR, Chengdu Tianxing, Nexteer, etc.
In 2023, Zhengqiang Co., Ltd. will achieve a total operating income of 417 million yuan, a year-on-year decrease of 2.43%; The net profit was 96.9189 million yuan, a year-on-year decrease of 1.15%. In terms of products, the revenue of the cross shaft universal joint assembly accounted for nearly 60%, the revenue of the fork accounted for nearly 20%, and the revenue of the cross shaft accounted for nearly 17%.
As a national high-tech enterprise, Zhengqiang Co., Ltd. has strong independent research and development capabilities in the field of cross-shaft universal joint assembly segmentation. Since its establishment, 29 products have been rated as provincial industrial new products. As of December 31, 2023, the company and its subsidiaries have 20 invention patents and 40 utility model patents.
In 2023, Zhengqiang's R&D investment will be 18.02 million yuan, and several major R&D projects such as high-torque cross shafts and high-performance lightweight aluminum alloy pitch forks have been successfully completed, which have initially generated economic benefits.
Accelerate the deployment of new energy vehicles
In recent years, the new energy vehicle track has continued to be hot. Zhengqiang Co., Ltd. continues to expand sales channels in the field of new energy vehicles, and gradually increases the number of projects with new energy vehicle companies and realizes mass production.
Through the first or second tier of auto parts suppliers to provide products for a number of car manufacturers, Zhengqiang shares related products have been used in BYD, Celis, NIO, Xiaopeng, Li, WM, SAIC Roewe, SAIC-GM-Wuling, SAIC MG, GAC Aion, Geely, BAIC and other brands of new energy passenger vehicles.
From the perspective of the construction progress of the fund-raising project, as of December 31, 2023, the company has invested a total of 49.1501 million yuan in raised funds, of which 25.4375 million yuan will be directly invested in the fund-raising projects in 2023, 890,000 yuan will be permanently supplemented with working capital, and the balance of unused raised funds will be 246.6395 million yuan. Among them, the "smart factory project for new energy vehicle parts" has started construction, which will provide space guarantee for the company's capacity expansion and new project development in the future.
It is worth noting that in 2023, Zhengqiang Co., Ltd. will also successfully bid for the land adjacent to the Hangzhou Industrial Base, invest in the establishment of Zhengteng New Energy Company, and accelerate the layout of new energy vehicle parts projects.
According to the plan, the construction of the new plot will start in April 2024, and strive to complete all construction projects and start the new plant by the end of 2025, so as to provide space guarantee for the company's capacity expansion and new project development.
and the "Godfather of Zhejiang" has a lot of fate
In the Zhejiang businessman group, there is a "godfather-level" figure, who is named the "evergreen" among private entrepreneurs, he is Lu Guanqiu, the founder of Zhejiang Wanxiang Group.
In July 1969, in Xiaoshan County, on the bank of the Qiantang River in Zhejiang, 24-year-old Lu Guanqiu led six farmers to raise 4,000 yuan to establish the Ningwei Commune Agricultural Machinery Factory. This is the predecessor of Wanxiang Group and the starting point of his career.
Under his leadership, the "Qianchao brand" universal joints produced by Xiaoshan Universal Joint Factory were sold to the north and south of the country. In 1992, Wanxiang Group was established and gradually developed into a domestic auto parts giant. In 1994, the stock of "Wanxiang Qianchao" was listed on the Shenzhen Stock Exchange.
In September 1969, Xu Zhengqing was born. From December 1993 to July 1997, he worked in a real estate development company under Wanxiang Group and engaged in freelance work. In 1997, Zhengqiang Co., Ltd. was established, and Xu Zhengqing was officially appointed as the executive director and general manager of the company.
In addition to Chairman Xu Zhengqing, many directors, supervisors and senior executives of Zhengqiang Co., Ltd. have work experience in Wanxiang Qianchao, and many of them are "old colleagues" before joining the company. According to public information:
Fu Qiang, director and deputy general manager, worked in Hangzhou Wanxiang Qianchao Co., Ltd. from 1989 to 1996;
Shen Baisong, director and director of the technical department, worked in Hangzhou Wanxiang Qianchao Co., Ltd. from July 1987 to October 1997;
Chen Jianwei, manager and supervisor of the quality department, worked in Hangzhou Wanxiang Qianchao Co., Ltd. from April 1992 to June 1998; From July 1998 to November 1999, he worked in Shaoxing Wangwang Universal Joint Co., Ltd.;
Fu Yun, deputy general manager, worked in the business department of Hangzhou Universal Joint Factory from October 1990 to June 1995; From June 1995 to November 1999, he worked in Shaoxing Zhan Wang Joint Co., Ltd.;
Pan Shengxiao, deputy general manager, worked in Hangzhou Wanxiang Qianchao Co., Ltd. from March 1989 to July 1996; From February 1997 to November 1999, he worked at Shaoxing Wangwang Universal Joint Co., Ltd.
From the perspective of equity structure, Zhengqiang shares are a typical family business. The actual controllers of the company, Xu Zhengqing, Fu Yun and Fu Qiang, control more than 60% of the shares of Zhengqiang shares and are in an absolute controlling position.
Among the above-mentioned shareholders: 1. Hangzhou Zhengqiang Holding Co., Ltd. is the controlling shareholder of the company, an enterprise jointly controlled by Xu Zhengqing and Fu Qiang, and the executive partner of Hangzhou Dahui Investment Management Partnership (Limited Partnership). 2. Xu Zhengqing, Fu Yun and Fu Qiang are the actual controllers of the company, of which Xu Zhengqing and Fu Yun are husband and wife, and Fu Yun and Fu Qiang are sisters and brothers; 3. Xu Zhengqing, Xu Zhenbiao, and Xu Zhenghuan are brothers, and Fu Qiang and Fu Jianquan are brothers.