IKD Co., Ltd. was registered with the Ningbo Municipal Market Supervision Administration on December 8, 2003. The legal representative is Zhang Jiancheng. The company's business scope includes precision aluminum alloy die-casting products for automobiles, industrial and household appliances.
In the first half of the year, IKD (730933) achieved domestic sales revenue growth of 18% year-on-year, higher than domestic automobile production and sales growth; realizing overseas sales revenue increased by 22.67%. IKD is a supplier of automotive aluminum alloy precision die castings. Its main products include aluminum alloy precision die castings for automotive wiper systems, automotive transmission systems, automotive steering systems, automotive engine systems, automotive brake systems and other systems. The company said that the increase in operating income in the first half of the year was mainly due to the expansion of the company's sales.
Cast aluminum alloys have a lower density than cast iron and cast steel, but have a higher specific strength. Therefore, the use of aluminum alloy castings under the same load conditions can reduce the weight of the structure, so aluminum alloy castings are widely used in the aviation industry and power machinery and transportation machinery manufacturing. Aluminum alloy has a good surface gloss and good corrosion resistance in the atmosphere and fresh water, so it has a wide range of applications in the manufacture of civilian utensils. Pure aluminum has good corrosion resistance in oxidizing acid media such as nitric acid and acetic acid, so aluminum castings have certain applications in the chemical industry.
It is worth mentioning that in June this year, IKD announced that the company intends to adjust part of the raised funds for “new energy vehicles and automobile lightweight parts construction projects”. The total investment of the project is 359 million yuan. Use the raised funds to invest 271 million yuan. Specifically, the construction content of the project mainly includes the construction of new production plants and supporting facilities, and the purchase of 128 sets of production equipment such as die-casting machines, industrial robots, and machining centers. The construction period of the project is 24 months, and the project is expected to reach the expected usable date. In June 2020, after the completion of the project, 12 million new pieces will be added to the production capacity of new energy vehicles and automotive lightweight aluminum alloy precision die castings.
According to IKD, one of the main problems of current new energy vehicles is that the cruising range is short, and lightweight design has become the main measure for new energy vehicles to reduce weight and reduce consumption. At present, new energy vehicles mainly use aluminum parts to achieve light weight. Therefore, increasing the proportion of automotive aluminum alloy die-casting parts is one of the main measures for lightweighting new energy vehicles. The sustained high-speed growth of new energy vehicles will promote the development of automotive aluminum alloy die-casting industry.
In the process of lightweight car, aluminum alloy has become a good substitute for automotive steel because of its light weight, high strength, corrosion resistance and good heat dissipation. At present, 18% of aluminum consumption in developed countries is used in the automotive industry, with an average of 140 kilograms of aluminum per vehicle, and is increasing at a rate of 20-30% per year. In the United States, for example, in the past decade, the amount of automotive aluminum castings in the United States has increased by 1.7 times. The current use of aluminum cylinder heads in US cars is 80% and will increase to 95% in 2007; aluminum cylinders currently use 25% and will increase to 60% in 2007. With the integration and synchronization of the Chinese automotive industry with the world, the amount of aluminum alloy castings used in automobiles will also increase.
IKD also pointed out that the requirements of environmental protection and energy conservation and emission reduction have activated the demand for upgrading of automotive lightweight industry. By increasing the proportion of aluminum used in automobiles and realizing light weight of automobiles, it is the most realistic choice for dealing with the increasingly prominent contradiction between fuel supply and demand and environmental pollution. In addition to the growth of automobile production and sales, the development potential of precision die-casting parts in automobiles will be stimulated by the increase in the amount of aluminum used in a single car. The steadily increasing global production and sales volume of automobiles and the increasing amount of aluminum used in automobiles will continue to increase the market space for automotive aluminum alloy precision die castings.
The data also shows that the research and development expenses of IKD in the first half of the year was 49.357 million yuan, an increase of 209.37% compared with the same period of last year of 15.9353 million yuan. According to IKD, R&D investment is mainly used for product development projects and process technology research and development. It is reported that the company relies on the construction of the “Technology R&D Center Construction Project” of the fund-raising investment project, and has increased investment in research and development sites, R&D equipment, and supporting professional software.