CSC Securities Analysis 2012 Auto Parts Strategy Report: The medium-duty truck has a higher probability of seeing the top of the long-term cycle, and the industry's profitability will continue to be restrained by the release of production capacity. As the narrow center of the passenger vehicle moves down, profit demands on the company’s overall competitiveness are higher, and marginal assets (weak companies) will lack long-term profit opportunities. The predictable slowdown in the profitability of the industry and the expansion and long-term differentiation of the company's profitability have made the cycle strategy or the strategy of simply looking at multiple industries fail, while the absolute valuation strategy based on the stability of the company's profitability has become possible. Core quality assets have a margin of safety, and the subject and growth are subject to overall inspection. Maintain the "overweight" rating of the passenger vehicle industry and give the truck and bus industry a "neutral" rating. We recommend Huayu Automotive, Shanghai Automotive, Fuyao Glass, Yueda Investment, Zhongda University, FAW Fuwei and Jiangling Motors based on absolute valuations or safety margins. Based on grasping the potential major growth opportunities in the industry, we recommend Changan Automobile and recommend that investors pay attention to Great Wall Motors, Huge Group, and Foton Motor. 5.2:1 or 6.2:1high speed gear system
Screw-in handle
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Front drag
Thick bail arm
Super strong drive gear
Hight intensity graphite material
Micro-adjusting drag system
Excellent line lay osciallation system
one-way clutch ball bearing
gear ratio of 5.2:1 or 6.2:1 is available
Gear Ratio
5.2:1
6.2:1
Bearings
3+1
12+1
ITEM
Gear Ratio
Ball Bearing
Line Capacity(mm/m;Lbs/yds)-Standard
Line Capacity(mm/m)-Shwallow
OWC
DSA1000
5.2:1
3+1BB-10+1BB
0.18/205 0.20/170 0.25/100; 4/175 6/110 8/90
0.12/150
Y
DSA2000
6.2:1/5.2:1
3+1BB-10+1BB
0.20/245 0.23/180 0.28/115; 4/240 6/160 8/125
0.20/150
Y
DSA3000
6.2:1/5.2:1
3+1BB-10+1BB
0.28/155 0.31/125 0.36/95; 8/180 10/150 12/110
0.22/150
Y
DSA4000
6.2:1/5.2:1
3+1BB-10+1BB
0.28/225 0.31/180 0.36/135; 8/270 10/220 12/160
0.24/150
Y
Auto Parts Industry 2012 Strategy Report: Beyond Cycle, Regression Value>
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