· Why did Zhengmei Machinery acquire Bosch Motor Business?

“We successfully acquired the Global Business Unit of Starter and Generator from Bosch in Germany (“Bosch Motor Business”).” Recently, Zhengzhou Coal Mining Machinery Group Co., Ltd. (referred to as “Zhengmei Machine”), who just returned from Munich, Germany General Manager Jia Hao excitedly told the "China Auto News" reporter that in the future "China speed" plus "Made in Germany" will surely make Zheng coal machine occupy a place in the global high-end manufacturing market.

On December 31, 2017, Zheng Coal and Chongde Investment successfully acquired the Bosch Motor business and completed the delivery in Munich, Germany. According to the public information, the Bosch motor business acquired by Zhengzhou Coal Machinery includes start-stop motor and 48V weak hybrid technology, which can effectively achieve energy saving and emission reduction, and has good promotion prospects in both domestic and foreign markets.
"This step is very high." Cao He, president of Quanlian Automobile Investment Management (Beijing) Co., Ltd. and former chief securities analyst of National Securities, said in an interview with China Auto News that the acquisition of Bosch Motor business is Zheng Coal. An important step in the transformation and upgrading of the machine is a key step in its rapid penetration into the global auto parts industry.
“Zhengbo’s acquisition of Bosch Motors is one of the important events in the automotive industry in 2017.” Ning Xiaoyang, chief engineer of China Auto Parts Industry Co., Ltd. told the China Auto News reporter that in the automotive industry, the acquisition The case has received much attention.
â–  The new business sector named Songer It is understood that Zhengzhou Coal Machinery has incorporated the Bosch motor business into the business sector, and renamed Songe, and will also increase its electrification business. Zheng Coal Machinery related person in charge said that Sonn Geer will develop high-voltage motor products based on existing motor products, and prepare for the next step into the electric vehicle market.
Bosch is the world's largest supplier of automotive components with sales of €73.1 billion in 2016. Bosch has ranked first in the world's top 500 auto parts suppliers in the Automotive News. At the end of 2015, Bosch announced that it plans to divest the Group's global business unit for starters and generators, including automotive starters, generators, start-stop motors, and 48V weak-mix motors.
According to public data, Bosch Motor's 2016 sales revenue reached 1.6 billion euros, accounting for 17% of the global market. Supporting customers include Volkswagen, Daimler, Renault-Nissan, BMW, Fiat Chrysler, GM, Ford, Case New Holland. Well-known enterprises in the automotive industry such as Industrial Group (CNHI), Weichai and Pekka.
In mid-2016, the Bosch Group announced that it is studying a motor business restructuring plan to bid for partners or acquirers. Once the news was released, it attracted many investment institutions and buyers. In the end, Zhengzhou Coal Machinery won the equity purchase agreement with the Bosch Group in May 2017 with the background of industrial investment, obvious synergy effect and feasible future planning, with a total transaction amount of 545 million Euros. The relevant person in charge of Zhengzhou Coal Machinery said that after the Bosch motor business was included, Thornege is expected to rise rapidly and establish itself in the global market.
â–  Zheng coal machine promotes transformation and throws the sound of sound. The transformation of Zheng coal machine is a sound.
Founded in 1958, Zhengzhou Coal Mining Machinery Co., Ltd. was formerly known as Zhengzhou Coal Mining Machinery Plant (under the former Ministry of Coal). After more than half a century of development, Zhengzhou Coal has grown into the world's largest coal mine fully developed hydraulic support R&D and manufacturing company. It was listed on the main board of the Shanghai Stock Exchange and the Hong Kong Stock Exchange in 2010 and 2012 respectively, with A+H shares. Two capital platforms.
Affected by the downturn of the coal industry, in 2013, Zhengzhou Coal Machinery decided to transform its strategy. In March 2016, Zhengzhou Coal Mining Machinery took the first step and acquired six of ASIMCO's target companies in various fields related to the auto parts industry chain. It officially entered the auto parts manufacturing industry and successfully realized coal machinery and auto parts. The dual main business operations.
ASIMCO is a well-known auto parts company headed by a localized management team with an international vision and years of experience in the automotive industry. It is reported that ASIMCO's Hubei Shendian is a leading domestic automotive motor company with a market share of approximately 10%. ASIMCO's NVH business is globally competitive and is another strategic development direction in addition to the motor business. High quality casting products, camshafts and piston rings are favored by the market.
After Zhengzhou Coal Engine has incorporated Bosch Motor's business into its business map, it will have a strong synergy with ASIMCO: Bosch's strong R&D capabilities and leading product innovation capabilities will greatly enhance ASIMCO's new product development capabilities. The global platform of Bosch Motors will provide global development opportunities for ASIMCO's motors, NVH business and parts and components around the powertrain; based on an in-depth understanding of the Chinese market, ASIMCO will develop Bosch's motor business in China. Take a new step. In addition, ASIMCO's local procurement channels will significantly reduce the cost of Bosch's motor business, thereby increasing its global business profitability.
The parallel development of the two auto parts business segments of ASIMCO and Soneg will make Zhengmei Machinery's auto parts business account for 75% of its total business, further enhancing the influence of Zhengzhou Coal Machinery in the global auto parts industry.
"From the continuous large-scale acquisition of auto parts business and parts business, the proportion of Zheng coal machine cross-border transformation and strategic layout is very large." Ning Xiaoyang analysis, Zheng coal machine's auto parts The sector is still under construction and will look for other industry development opportunities.
“As a listed company in the coal mining industry, Zhengzhou Coal has a capital advantage and lacks accumulation in the automotive industry. M&A is an effective way to quickly enter and transform. The biggest challenge for Zhengmei Machinery will be how to ensure the completion of the M&A transaction. The auto parts business continues to develop steadily, which requires extremely high wisdom.” Ning Xiaoyang believes that at this stage, Zhengzhou Coal Machinery needs a stable team, continuous investment and new development opportunities, and finally forms a management system with its own characteristics.
■ Building a world-class component company “The Bosch brand has a high premium capacity.” This is the consensus of many respondents on the acquisition of Bosch Motor's business by Zhengmei Machinery, and is one of the driving forces for Zhengzhou Coal Machinery's determination to acquire.
"1 plus 1 is greater than 2. Regardless of technology, products, or the market, the acquisition of Bosch Motor business is beneficial to the next development of Zhengzhou Coal Machinery." Cao He believes that this is reflected in the following two points, one is to help Zheng coal machine enter The supporting system of internationally renowned automobile brands; the second is to gain more capital favor through the capital platform. More critically, the starter and generator market is exploding, especially in China's domestic market, which is expected to expand, which is in line with the expectations of Zhengzhou Coal Machinery.
In 2015, the global market for automotive starter and generator business was 7.5 billion euros. Experts predict that this number is expected to grow to 9.4 billion euros in 2021, China will achieve the world's fastest growth with an annualized growth rate of 5.3%, becoming the largest automotive motor market. "By effective integration, in the next two to three years, Zhengzhou Coal Mining Machinery will have a great success in the Chinese automotive motor market." Cao He said.
Another key product of the Bosch Motor business is the 48V weakly mixed motor. According to reports, the product can provide higher starting and accelerating voltage, thereby increasing power, reducing consumption, and recovering energy during braking to charge the battery, and the original structural changes of the whole vehicle are small. Compared with the strong hybrid technology, the hybrid vehicle with the 48V weakly mixed motor as the core has a large cost performance advantage in reducing carbon dioxide emissions. It can be said that Zheng coal machine acquired Bosch motor business, and the market prospect is very good.
Zhengzhou Coal Machinery acquired the motor business of multinational parts giants and became a model for the “going out” international operation of Henan state-owned listed companies in recent years. The acquisition also caused a lot of shock in Germany, and many German media reported it.
Jiao Chengyu, chairman of Henan Machinery Equipment Investment Group and chairman of Zhengzhou Coal Machinery, said: “Zhengmei Machinery is committed to becoming the world leader in the auto parts industry. This acquisition marks an important step towards this goal. We acquired It is a high-tech motor R&D and manufacturing asset that will help improve the level of high-end equipment manufacturing in Henan and even in China."
Standing on the new development starting point, Zheng Coal Machinery will use action to prove that "China Speed" and "Made in Germany" will create a world-class component company.

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