Trillion Market Space Tianyou Railway Wants M & A to Achieve Leapfrog Development——Interview with Shen Xu, General Manager of Shanghai Tianyou Railway New Technology Research Institute Co., Ltd.

Trillion market space Tianyou Railway wants mergers and acquisitions to achieve leapfrog development

——Interview with Shen Xu, General Manager of Shanghai Tianyou Railway New Technology Research Institute Co., Ltd.

Shanghai Tianyou Railway New Technology Research Institute Co., Ltd. (hereinafter referred to as Tianyou Railway), which provides core components for urban rail transit vehicles, has recently received an order for the wheel muffler ring of urban rail B-type subway vehicles from the vehicle manufacturing plant affiliated to CNR Corporation. , Becoming one of the few muffler ring suppliers of the entire vehicle manufacturing plant under the CNR Group. This order means that Tianyou Railway's wheel muffler ring products with national invention patents have begun to enter the largest subway vehicle manufacturing plant of CNR (also China) and the largest market-requested B-type wheel muffler ring supporting team. At the same time, Shen Xu, the general manager of Tianyou Railway, revealed that with the start of a new round of urban rail transit construction in northern, Shanghai, Guangzhou, Shenzhen and other big cities, the company's other flagship product, consisting of anti-rolling torsion bar, is expected to be within 5 years. Obtained more than 10,000 sets of orders, adding about 2,000 sets of anti-roll torsion bar business every year.

Rail transit trillion investment industry has broad prospects for development

Shanghai Tianyou Railway New Technology Research Institute Co., Ltd. was established in 1993 and was officially listed on the National Small and Medium Enterprise Share Transfer System on April 11, 2014 (stock code: 430673). It is mainly engaged in the research and development of core parts for urban rail transit vehicles, Production, sales, maintenance, and technical services. It is the earliest scientific research and production enterprise in China that researches and develops and produces anti-rolling torsion bars for railway OEMs. It is currently a high-tech enterprise in Shanghai and a number of domestic subway operating companies and Supplier of other parts for rail vehicle manufacturers.

Shen Xu, general manager of Tianyou Railway, joined the Tianyou Railway in April 2012 and used the original platform to do a second venture. He told reporters: "With the rapid development of China's economy and urbanization, the volume of urban passenger traffic has increased significantly, and all major cities are actively developing urban public transport systems based on urban rail transit. For example, Beijing, Guangzhou, Shenzhen, especially It is a big city like Shanghai that has begun a new round of urban rail transit construction, and tens of thousands of subway trains will be added within 5 years. The National Development and Reform Commission has also delegated the approval authority for urban rail transit to the provincial-level Development and Reform Commission for approval Other than large and medium-sized cities), more provincial capitals can be expected starting next year, and second-tier cities will begin building subway lines. "

After the "18th National Congress", the country vigorously promoted urbanization. Urban rail subway is an important mode of travel in big cities. National policies encourage it. Local governments are enthusiastic. The construction of urban rail subway is expected to usher in another peak period. According to the statistical analysis report of the China Urban Rail Transit Association, as of the end of 2013, a total of 2,746 kilometers of urban rail transit operating mileage had been opened in 19 cities across the country, of which subways accounted for 75% of the total mileage. According to Alstom data, it is estimated that by 2020, there will be 177 subway lines in 33 cities in China, and 7,395 kilometers of subway lines will be built in the rail transit market. By then, rail transit will cover major cities in the country and play a major and backbone role in the urban transportation system. The next 10 years will be a period of great development for urban rail transit in China. The investment in urban rail transit construction in mainland China is expected to exceed 3 trillion yuan.

Four major technologies and eight business orders or sudden growth

In the words of Shen Xu, the general manager of Tianyou Railway, it is not easy to get an order for the muffler ring of the B-type subway vehicle wheels of the urban vehicle manufacturer of the North China Railway Group. This is an affirmation of the company's strength and technology. Tianyou Railway was originally a state-owned enterprise of Shanghai Railway University (Tongji University). It was restructured into a limited company in 2006. It is a research and development and production unit for railway and subway train parts. At the end of 2013, it passed the international railway industry standard IRIS review. Chairman of the board of professors Shen Peide (PhD) has won the National Science and Technology Progress First Prize, the Zhan Tianyou Engineering Award, and the Ministry of Railways Science and Technology Progress First Prize for the second time. As well as the localization projects of foreign urban rail vehicles, they are recognized as experts in the field of railway vehicles.

Tianyou Railway has four core technologies, one invention patent and one national science and technology support project. Tianyou Railway mainly has anti-rolling torsion bar simulation calculation and its test technology, anti-rolling torsion bar spline matching technology, buffer static performance test technology, and close-coupled simulation calculation technology. The eight main products and businesses are: 1. Design, testing, and mass production of torsion bar, boom, and connecting rod assembly; 2. Development and mass production of wheel damping rings; 3. Agency and sales of imported products; 4. Steering 5. Vehicle parts and components; 5. Metro vehicle couplers; 6. Parts test bench; 7. Bogies and their components, coupler buffer overhaul; 8. Bogie design, frame strength test. The company's main product anti-rolling torsion bar is widely used in Guangzhou, Wuhan, Shanghai, Ningbo, Changsha, Wuxi, Dalian, Shenzhen, Hangzhou, Turkey, Malaysia, India and other domestic and international subway projects.

The wheel damping ring is the company's emerging product, and its unique structure has won the national invention patent. That is, this finished product has successfully won an order for the wheel muffler ring of the B-type subway car of the rail vehicle manufacturer of the North Vehicle Group. During the operation of a rail vehicle, the noise of wheels rolling on the track will seriously affect the comfort of riding, and the wheel damping ring uses the damping force of the steel ring and the wheel groove during vibration, so that the audible audio intensity is reduced , To achieve a significant improvement in ride comfort. Tianyou Railway This product can be widely used in urban new districts, old urban areas, underground or underground new subway projects.

In May 2013, the research and development and testing of the company's subway automatic couplers, semi-automatic couplers, and semi-permanent couplers became national science and technology support topics. It is reported that Tianyou Railway has been listed in the first batch of high-tech enterprises in Shanghai in 2014. The railway products produced by the company belong to the state's encouraged tax refund products, and its export tax refund rate is 17% full refund.

Shen Xu revealed that the company is very hopeful to obtain more than 10,000 sets of anti-rolling torsion bars in 5 years to form additional orders, and about 2,000 sets of anti-rolling torsion bars are added every year. In order to prepare for the sudden increase in orders from next year, Tianyou Railway has added CNC machining equipment, machining centers and long-axis CNC lathes. These new equipment can effectively improve product processing efficiency and machining accuracy, and increase production capacity from next year. be prepared. At the same time, the company hired two executives at the level of deputy general manager in June this year, both of whom have senior industry experience. In particular, the joining of Chief Engineer Yang Jun as a senior technician laid the foundation for the company's R & D team's sustainable development.

In just over 2 years, the company has hired 3 industry elites to join, established its own production base and passed the international railway IRIS certification, and also opened the door to the capital market through the listing of new three boards. Tianyou Railway is entering the fast track of development.

Entered the national railway bus mergers and acquisitions to achieve leapfrog development

It is understood that the main customer groups of Tianyou Railway currently include rail vehicle suppliers such as CSR Zhuzhou Electric Locomotive Company, CNR Changkechun Rail Bus Company, CSR Puzhen City Rail Vehicle Company, and Shanghai Metro Operating Company and Guangzhou Metro Operating Company. , Shenzhen Metro Operating Company and other urban rail transit operators. Tianyou Railway plans to enter the torsion bar and other bogie parts, especially the high-speed rail car parts market of the National Railway passenger car through capital operation methods such as mergers and acquisitions and reorganization in the future, to rapidly increase the company's scale, turnover and profit.

From the public data, it can be seen that the operating income of Tianyou Railway in the first half of 2014 increased by 3.56% compared with the same period last year, and the net profit attributable to shareholders of the listed company increased by 199% compared with the same period last year, although the company's current operating income and net profit scale Not very big, but President Shen is very confident to tell reporters that the company's operating income in the next 5 years strives to achieve a 7-fold leap. The main methods to achieve this goal include: expanding the market share of main products (composition of anti-rolling torsion bars and wheel muffler rings) to improve efficiency; developing the maintenance market for railway and subway vehicle parts such as anti-rolling torsion bars; and independently developing new Products and bulk supply; actively searching for and introducing foreign advanced railway and subway vehicle accessories; gradually and steadily developing overseas export markets (It is reported that after the company participated in the INNOTRANS exhibition in Berlin in 2012, it quickly gained business relationships with many European companies in the same industry. In particular, he obtained the exclusive agency qualification of a European railway joint bearing in China. He participated in the largest railway exhibition in the United States last year. He obtained foreign small batch export orders at the beginning of this year. In mid-September, he also joined a European joint bearing company to participate. INNOTRANS Railway Exhibition in Berlin); try to combine or merge related companies to quickly improve the market competitiveness, turnover and profitability of Tianyou Railway. The reporter also learned that the company and its shareholders hope to introduce investors from various parties through stock transfers and targeted issuance, and jointly work out plans to reflect the value of the company's stock and share the fruits of corporate development. Interested new third board investors can pay close attention.

Tianyou Railway is grasping the spring breeze of policy, optimizing resource allocation, accelerating business expansion and increasing production capacity, and ushering in a new wave of development.

Taken from: China Securities Journal (, China Securities Journal (
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