Military of China, force comment.
Military of China, force comment.

made F-11B fighter aircraft has been used domestically,” Taihang “high-thrust turbofan engine. Zhuhai air show debut at the last line is too high-thrust turbofan engine.

from a small high-temperature materials in 1956 , to the current annual income of nearly $ 300 million, Steel Research Gaona (300034) high-temperature alloys has become the most advanced technical level the field, production types, one of the most complete. Currently, the company achieved more than 20% per year steady growth, but in order to high-temperature alloys to the world-class business forward, Steel Research Gaona is on the upstream and downstream enterprises to find a target to mergers and acquisitions by leaps and bounds. Recently, general manager Zhao Minghan Steel Research Gaona first time to face the media, about the company in the field of high-temperature alloy development and growth process.

“oldest” national mission GEM Enterprises

Steel Research Gaona was established in 2002, by Institute of Steel and high-temperature materials IAS Powder Metallurgy Research Center’s core high-quality assets through the merger, actual control of the SASAC, mainly engaged in high-temperature aerospace alloy materials in the development, production and sales of its predecessor, the high-temperature materials steel IAS was created in 1956. From initial planning to the motherboard market, but later changed to small plates listed, to take aim, GEM, until December 2009, successfully listed on the GEM, after 54 years of ups and downs, Steel Research Gaona called GEM oldest listed companies.

different origin, a unique natural doomed mission. As China’s aviation and aerospace material supply chain is an important one, Steel Research Gaona’s business has been involved in national strategic interests. “We must complete the task of the country, but also have benefits.” Zhaoming Han repeatedly stressed the country’s commitment to the mission.

According to reports, China’s third-generation fighter engine in there is a ton of multiple, involving a total of more than one component, which is an integral part of steel production research Gaona. before the country can not produce the parts, but as it involves military secrets, not to sell the foreign country, R & D component of the task falls on the Iron and Steel Research Gaona, the company ultimately fail in their mission. At present, only steel high-sodium can produce this research components. Just started production only a few kilograms per year for one or two engines, 2007, the part needs a sudden heavy volume, you need to supply more than 60 copies, 2008 and 2009 demand is to reach more than 100 copies . companies to raise emergency funds, the equipment, but are building production lines and production cycle modulation qualifying period, required a long process.

the next three years, from materials to subordinate group members put a lot of effort, three years with little rest. Also, because the state approved the project takes time, Steel Research Gaona Dianqian on their first self-developed. Hard work pays off in 2009, the company’s shipments to the state expected production to meet the user requirements.

“Company executives are working to shareholders. Steel Research Gaona state-owned enterprises, the former shareholders of the state, materials research related to national defense and national security, the State must be responsible, and this is a mission; Now the company listed on the GEM, raising 5.5 billion of funds, our net assets into more than 8 million, which joined the common shareholders, investors, who vote the money, we have for they are responsible, can not be discounted, This is another mission. “Zhaoming Han’s speech is full of a sense of mission and responsibility.

civilian proportion will increase to 70%

Steel Research Gaona current products are high-temperature casting alloys, wrought superalloy products and new high-temperature alloys, The company has production capacity of cast superalloy 920 tons, wrought superalloy 150 tons, 15 tons of new high-temperature alloys. Steel Research Gaona 2009 revenue of nearly $ 300 million, more than 60% of products for aerospace customers.

in the company’s revenue structure, the military accounted for 60%, 40% civilian. Zhaoming Han believes that military products is very important, demand is very stable, has brought stability to the company’s sales revenue and net profit; Moreover, the field of aerospace materials company which is one of the industries supported by the state, the future will benefit from the China Aviation the rapid development of aerospace and a substantial investment. But the disadvantages are also obvious that there are limits on the size of a year’s demand is only so much growth can not be too large, and the company’s growing scale of production does not match. If you rely solely on the military market, Steel Research Gaona next few years the pace of development will inevitably be affected, while the broad market areas of the development of civilian space for Steel Research Gaona see hope.

Steel Research Gaona listed on the GEM of funds raised will be used primarily for the aerospace and deformation of high-temperature powder metal products, aerospace aluminum with titanium metal products, new high-temperature solid self-lubricating composite materials and products , casting high temperature alloys high-quality precision casting, vacuum casting and high-temperature alloy master alloy level projects. In addition to the new system to meet the aerospace materials and equipment needs, the company will also open up car engine with a turbocharger turbine high-temperature alloy castings, chemical industry and automotive engine valve casting parts casting and other civilian market. Obviously, in addition to consolidating the basis for the field of aerospace materials, Steel Research Gaona has increased in the civilian areas of expansion.

Zhaoming Han Tan Road, this fund-raising project will be the company by leaps and bounds an important step for the company to enhance market competitiveness and long-term development of great significance, in 2014 the production of several major projects in After the company civilian percentage of revenues will increase to 70%, while the military will drop to 30%.

his particular field of automotive products, high hopes for the future, because the car needs an annual booster of 30% annually. This is a large market demand for high-temperature alloys, the world needs a year turbocharger turbine more than 900 million pieces, two one thousand tons per year of domestic materials, market demand, and growing every year, this study of high steel The growth and expansion satisfied very attractive. But the whole industry a bit confusing, mixed, small rural enterprises have done, of varying quality.

“With our technology, the company the industry leader to do this no problem.” Zhaoming Han admitted that the company is considering expanding production scale. Steel Research Gaona turbocharger turbine superalloy materials used in the traditional technology will be improved so that higher material quality and production efficiency, material costs will also come down, the end product life will be longer. He said the company’s products with high quality low-cost advantage to expand their market strategies have been identified and will consider a number of professional sales companies for product promotion.

supreme alternative incentives

compare alternative is Steel Research Gaona is not only the implementation of the GEM equity incentive company. Although there is a treasure of knowledge-based economy seen as high-tech talent, but the GEM vigorous rich mythology to do with them.

“in the existing conditions, take too much of a personal financial incentives are not realistic, but Steel Research Gaona’ve tried everything, including the treatment of the company as high as possible, and National honor the spirit of the award. “for the policy and institutional constraints, Zhaoming Han did not express much concern. The company’s actual control of the SASAC, the annual selection of the advanced level to individuals, companies and technicians won many honors, which is priceless. He said with emotion, “like those of us doing the research, more attention to the value of life reflected, we are working to the state, such a lofty national pride that not everyone has access to, is paramount.”

in the “alternative incentive” under the lack of incentive stock options not to Steel Research Gaona bring too much influence over the development. From 1985 to now, 20 years, Steel Research Gaona’s performance steadily rising, not declining over a year. This allows Zhaoming Han proud.

talk to him: “The company’s development is very strong, emboldened enough, operation, and all for a common goal to fight, every year the year exceeded the target in the GEM in the horizontal comparison, steel research Gaona annual growth performance and not too prominent, but the longitudinal comparison, the company has been developing, on a small step each year, and is a world-class high-temperature alloy business forward. “

Nevertheless, institutional constraints will inevitably result in some loss of technical staff. For future long-term development and ambitious goals, Steel Research Gaona to face institutional revolutionary.

Zhaoming Han admitted that the current company to the outside world the impression that the incentive system in place, strong enough, the core technical staff lack of enthusiasm. This year’s shareholder meeting, shareholders have been proposed to solve the company senior management and core technical staff of the equity incentive problems, the company is aware of the problem, is actively working with major shareholders, the competent departments of communication and consultation, to seek practical and concrete solutions. The main problem facing the program is the exercise price and conditions, vesting conditions set too high, employees will feel true, positive impact, given the approval and low pass. Although the dilemma, the specific implementation of the program is also being finalized, there is no specific timetable, but Zhaoming Han is confident it can produce a satisfactory answer for everyone.

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