Analysts identified the most influential stocks and industry recommendations
The recent decline in Xingmin Steel Ring (002355) was more than 20%, making Chen Yuanyuan, a retailer of Southwest Securities, uneasy.
"Other people are making money. I'm still waiting for a solution. Although today's point has risen, there have been bad news coming out."
Chen Yuanyuan said that the bad news is not small. Recently, the Ministry of Commerce issued an early warning that the United States may launch more anti-dumping and anti-subsidy investigations on Chinese auto parts products. The news affects not only a stock of Xingmin Steel Wheel, but also a stockholder who is fidgeting and not just Chen Yuanyuan.
"Plead for compensation, it is recommended that everyone should also be careful"
Chen Yuanyuan believes that under the circumstances that the growth rate of the domestic auto market has slowed down, the external export environment has been subjected to this plan, which is indeed worrying.
As can be seen from the performance of relevant listed companies' annual reports, as of January 31, 2012, of the 24 listed companies in the two cities, a total of 14 companies issued performance forecasts or performance reports. Among them, only 4 companies such as SAIC, Great Wall Motor and other companies posted a year-on-year increase in net profit. The remaining company's net profit declined sharply. Among the listed companies of the entire vehicle category, FAW Car has the most serious decline in net profit.
“Auto stocks such as Shuguang, Xingmin Steel, and Yueda Investment have recently fallen inexplicably, and it is estimated that they will be related to the 'double reverse' investigation that the United States will launch. I claim compensation, and we recommend that you also be careful.†Chen Yuanyuan Took a breath and shook his head. Chen Yuanyuan insisted on his own judgment and quickly cut the meat.
The plate is still calm for the time being
On February 6, 2012, the reporter saw from the secondary market that most of the Auto Parts stocks had a balanced overall trend and did not seem to be affected.
"More than a dozen listed companies such as Fuyao Glass, Shuangqin Co., Ltd., Jinxi Axle, Giant Wheels, Jinyi Industry, and Anhui Heli have trade with the United States and may be affected. Fuyao Glass ranks among the top traders in the United States. The company, such as the commencement of trade sanctions against domestic auto parts companies, has suffered huge losses from Fuyao Glass, said analyst Zhou Ming of Everbright Securities.
Fuyao Glass's 2010 annual report shows that in 2010, its turnover in North America was 838 million yuan, accounting for more than 10% of its operating income for the year. This year, Fuyao Glass received a financial subsidy of RMB 12.64 million. Jin Yi Industrial's 2010 annual report also showed that the income obtained in the Americas also reached 256 million yuan, accounting for 8.79% of its operating income.
Tire industry influence bears the brunt
From the industry point of view, the impact of the tire industry is the largest.
According to statistics from the Automobile Industry Association, China’s auto parts exports to the United States last year totaled 12.8 billion U.S. dollars, of which sales of tire parts and components totaled 2.4 billion U.S. dollars, which exceeded automotive electronics and engines. From September 2009, the United States began to impose punitive tariffs on tires that China exports to the United States for three consecutive years. The tax rate is 35% in the first year, 30% in the second year, and 25% in the third year. After the introduction of punitive tariffs, the number of tires exported by some companies was almost halved.
Zhou Ming pointed out that at present, the U.S. government’s news is not clear, and the tire shares have not been affected. The shares of big wheel shares, Yan Tire A and Shuangqin shares also rebounded with the market. However, if the United States persists in suppressing Chinese auto parts suppliers, it will also be a blow to tire exporters. Tire companies not only have to cope with the appreciation of the renminbi, the cost of raw materials and the increase in labor prices, but also have to guard against high tariffs.
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