Sealing company Chongqing Duke intends to acquire a British company

The seal is only a small part of the car, but it is this humble small part that plays a very important role. As the main supplier of automotive giants, Chongqing Duke, which has a market share of more than 60% in the heavy-duty vehicle axle oil seals market, not only drove a bloody road in the fierce market competition, but also planned for listing and financing, and made the market the United Kingdom. The United States and other European and American regions.

In the use of the vehicle, if there is an oil leak, it will directly affect the technical performance of the car. At present, the product competition of domestic automotive seals is very fierce, and prices have declined.

However, when the market profit was less than 10%, Chongqing Duke made a 25% profit. Last year, Duke's sales revenue reached 75 million yuan. This year, it is estimated that sales revenue will reach 120 million.

“Enterprises should rely on technological innovation to form their own core competencies.” According to the relevant person in charge of Chongqing Duke, the products that Duke produces and sells have 100% independent intellectual property rights.

The quality of the product far exceeds that of imported products, and the price is less than 1/3 of that of imported products. Prior to this, the domestic market was dominated by German sealed companies and the price was more than 200 yuan. The preferential treatment offered by Chongqing companies forced the international giants out of the Chinese market within six months.

Not only that, when relying on imports, the country still needs to consume a large amount of foreign exchange each year. With the current annual total of 1 million RMB for Chongqing Duke, the country can save 12 million U.S. dollars each year, and companies can also save over 50 million in supporting costs.

The victory in the Chinese market has allowed Chongqing Duke to put its sights on foreign markets.

"Next year we will begin to expand into Europe and the United States market." The responsible person revealed that the development of the US market will start next year, and the company also began to prepare to acquire a British company to open the British market.

However, the person in charge also said that compared with world-class companies, Chongqing Duke's financial strength is not yet very strong, "so we are also preparing to go public as soon as possible to raise more development funds."