Weichai Power announced that it had a 51% shareholding in the company Fast (2010 net profit contribution of 980 million yuan, accounting for 14.4%) and set up a joint venture between Caterpillar and Fast Group to establish Xi'an Shuangte Intelligent Drive Co., Ltd. Strait holds 51% of the shares, Caterpillar holds 45% of the shares, and the remaining 4% of the shares are held by Fast, another shareholder of Fast. comment: Short-term profit contribution is limited, but cooperation with Caterpillar deepens the company's medium and long-term development. The joint venture is mainly to digest and absorb Caterpillar's CX series of hydraulic automatic transmission (AT) technology for heavy vehicles, and as Caterpillar's Asian production base to supply automatic transmission and construction machinery parts. The first phase of production of the project will reach 2013, and the full production time will be even later. It will be calculated based on an annual sales income of 10 billion yuan and a net profit rate of 20% after full production. The joint venture will contribute to the net profit of Weichai Power 5.2 Billion yuan, the increase is relatively limited. We prefer Weichai Power and Fast to deepen cooperation with Caterpillar through this joint venture to lay the foundation for future cooperation in engine, transmission and other components of construction machinery. Caterpillar is the world's largest construction machinery company and achieved sales revenue of US$42.6 billion in 2010. Cooperation does not affect the original heavy-duty transmission business of Fast in China. The joint venture products are heavy-duty hydraulic automatic transmission (AT) products. The domestic heavy truck transmissions are mainly manual, and most automatic transmissions also use the AMT technology route. This joint venture will not affect the original domestic heavy-duty transmission business of Fast. The Opportunity for Weichai Power in the Globalization of Industry. This cooperation will enable investors and downstream companies to revisit the value of Weichai Power. Benefiting from the substantial increase in sales of domestic heavy trucks, Weichai Power has already possessed the world's largest production base for heavy-duty engines and heavy-duty transmissions. Its cost advantage, R&D strength and stable supply capability far ahead of its competitors; these three advantages are now Caterpillar. Le's emphasis is that there will be other construction machinery in the future. Shipbuilding and even heavy truck companies are attracted to this. With the acceleration of globalization of the industry, Weichai Power's engines, transmissions, and other parts and components are expected to welcome more and more opportunities for overseas matching and cooperation. The company's growth space is expected to open up. Valuation and recommendations: It is expected that the company's 2011 and 2012 earnings per share will be 4.93 yuan and 5.81 yuan respectively. The current stock price corresponds to 11 times and 3.3 times for the 2011 A-share PE and PB respectively, and the H-share PE and PB are 9.2 and 2.7 times respectively. Values ​​are at the low end of the industry. Given the strong earnings growth prospects brought by the strong industry position of the company and the development opportunities brought by the downstream extension, we maintain our investment rating for the company. Keyless Drill Chuck, Key Type Drill Chuck with Threaded Fitting, Keyless Drill Chuck with Threaded Mounted Drill Chuck Drill Chuck,Drill Press Chuck,Keytype Drill Chuck,Lathe Keyless Drill Chuck JINING QINFENG MACHINERY HARDWARE CO.,LTD , http://www.qftoolholder.com
Drill chuck is by drilling collet, elastic dial ring, connecting piece, the back cover. In drill collet, its axial positioning is implemented using the connection piece, upon jack, via the circumference of a circle in the elastic dial ring under the action of internal thread axial movement, under the action of a precise automatic centering and clamping tool, when you are working with different drilling tools need to adopt such as center drill, drill, reamer, tap drill chuck, can loosen the positioning screw, turn the segment to the desired location, fastening positioning screw, realize the drill chuck the movement of the transfer.
The drill chuck is one of the main parts of electric tool industry and machine tool industry, widely used in electric drill, drilling machine. Chuck is connected with the tool, is used to clamp the handle type tool accessories. The drill and connection with threaded connections and taper connection in two ways. Threaded connection is mainly used on an electric hand drill, cone connection is mainly used for drilling machine drill chuck from structure can be classified as type wrench and keyless. Spanner drill chuck wrench to tighten the wheel needs, mainly used in machine tool industry, such as drill and drill. Hand drill chuck set to hold on and tighten the collet, mainly used for electric drill. Spanner drill chuck as by pulling wheel to tighten the collet and a pulling wheel is a with an extension arm of bevel gear, so in the process of screwing can serve to increase the role of input torque, so chuck clip clamping force is too large.