Although the year-on-year growth rate of auto sales data has been picking up since April this year, the upstream auto parts industry is still chilly. According to statistics, as of June 19, 2012, a total of 28 listed auto parts companies issued interim results this year, and the sum of 28 companies' net profits fell 22.42% year-on-year. The slowdown in the growth rate of the domestic auto market is the main reason for the sluggish performance of component manufacturers. However, parts and components manufacturers supporting multinational car companies still benefit from the steady growth of overseas orders. Domestic car dealers are down Among the 28 companies that have issued interim results announcements, only 6 companies are expected to see a year-on-year growth in their results, and 11 companies are expected to report year-on-year declines in performance. Other companies are expected to increase slightly or slightly lower year-on-year. Compared with the first quarter of this year, the performance of listed auto parts companies has not changed significantly. In the first quarter of this year, the performance of only 15 of the 55 auto parts listed companies increased year-on-year, and the overall net profit of the auto parts industry fell by 23.63% year-on-year. Seven of the 28 companies that have posted performance forecasts have achieved year-on-year growth in the first quarter of this year. As a Tier 1 supplier to FAW, JAC, Dongfeng, Chery and many other large vehicle manufacturers, Wanan Technology, the manufacturer of brake system, has just experienced the cold market in the automotive market. In the first quarter, the company's net profit fell by 69.29% year-on-year. At the same time, its net profit is expected to decline by 50% to 80% year-on-year in the first half of this year. The company believes that it is affected by the slowdown in the market demand for the automotive industry. Under the background of the declining market share of self-owned brand passenger cars, as the main supplier of Chery, Jianghuai and its own fuel tank owners, Shunrong has also experienced a decline in performance. The company's first-quarter net profit fell by 78.48% year-on-year. It is expected that the overall situation will not improve in the first half of this year, and net profit will decline by 60% to 80% year-on-year. The company stated that during the reporting period, the government subsidies received by the company will fall by 11.5 million yuan year-on-year, while the administrative expenses will increase. Xinpeng shares, a company that is being converted into an auto parts industry, has not been optimistic about the performance of the project when the project has not yet reached production. The company's first-quarter results fell 94.45% year-on-year, and its net profit for the first half of the year is expected to decline by 60% to 90% year-on-year. The company stated that since the beginning of this year, the economic growth at home and abroad has slowed down and the manufacturing industry is facing more severe market challenges. Affected by the drop in orders of some major customers, coupled with the increase in operating costs, the increase in operating costs, and the continued investment in R&D of new projects, the company expects its performance to decline. Overseas orders contrarian growth Among the six companies that expected to grow year-on-year, despite not exceeding 40% of the forecast growth rate, there are some bright spots in the down market, but these companies' customers are mostly multinational companies. Zhongyuan internal distribution benefited from the growth of the export market and the supply of orders was in short supply. It is expected that net profit in the first half of the year will increase by 15% to 40%. The company stated that during the reporting period, the company's IPO raised capital investment projects were all put into production, and profitability was gradually released. Minsheng Securities research shows that the company’s export business has grown explosively in order to benefit from the shift in international market orders and the recovery of European and American auto markets. The company's North American market is mainly supported by customers such as GM, Ford, Chrysler, Cummins, and International Trucks. Its commercial vehicle market share is 40% and passenger vehicles are 22%. In the European market, the company has successfully entered the Mercedes-Benz, Volvo, Fiat, Peugeot-Citroen. And other international well-known companies' global procurement system. Jingwei shares expects that the company's net profit will increase by 10% to 40% year-on-year in the first half of this year. Haitong Securities Research shows that in 2011, the company’s first-class matching revenue for North-South Volkswagen, Mercedes-Benz, and BMW accounted for 75% of the total. Among the three German luxury cars, Audi, BMW, and Mercedes-Benz’s first-class matching revenue accounted for 47%, which is true. Luxury car accessory companies. In the past two years, the sales growth of luxury cars far exceeded the industry average, driving the company's rapid development. In the case of Guangdong Hongtu’s net profit fell by 5.01% year-on-year in the first quarter, net profit in the first half of this year is expected to increase by 0% to 30%. The company stated that according to the company’s product sales market forecast, its operating income will increase steadily over the same period of last year, and the company will effectively control all costs and expenses. It is therefore expected that the business performance will increase slightly year-on-year. According to the Dongxing Securities research report, the company's main products are die castings for auto parts and communications parts. In 2009, the proportion of operating revenue was 70% and 30%, respectively. The company's automotive die casting orders are full, foreign orders are better than domestic, foreign customers have General Motors, Chrysler, etc.; domestic customers are Guangzhou Automobile Honda, Dongfeng Honda and so on. The industry believes that the current slowdown in the growth of the auto market is mainly due to the lack of demand, rather than supply reasons. The explosive growth of the auto market is difficult to reproduce under the constraints of higher vehicle costs, traffic congestion, difficulties in parking, and restrictions on purchase restrictions. As a result, parts and components industry companies must seek technological and quality breakthroughs, strive for high-quality automotive customers in order to stand out in the industry. 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