China-made aircraft engine has started mass production of three generations of an annual output of 100-made J-11B fighter aircraft has been using domestic” Taihang“high-thrust turbofan engine. the Zhuhai air show appearance in thelast row is too large thrust turbofan engine.
In 1956 by a small high-temperature materials , to the current annualincome of nearly 3 million, Steel Research Gaona (300 034) has becomethe field of high temperature alloys the most advanced technology,production types, one of the most complete. Currently, the companyachieved more than 20% per year steady growth, but to the world-classhigh-temperature alloy business forward, Steel Research Gaona is on theupstream and downstream enterprises in the search for goals, hopesthrough mergers and acquisitions to achieve leapfrog development.Recently, high-sodium, general manager of Iron and Steel ResearchZhaoming Han for the first time to face the media, about the company inthe field of high-temperature alloy development and growth process.
“the old” national mission GEM Enterprises
Steel Institute was established in 2002 with high sodium,high-temperature materials by Steel Institute and IAS Powder MetallurgyResearch Center’s core quality assets through the merger, the actualcontroller is the SASAC, mainly engaged in high-temperature aerospacealloy materials development, production and sales of its predecessor,steel, high temperature materials IAS was created in 1956. From initialplanning to the Main Board listing, the listing was changed to smallplates, to take aim, GEM, until December 2009 was successfully listedon the GEM, after 54 years of ups and downs, steel, called the GEMresearch in high-sodium the oldest listed companies.
different origin, different natural doomed mission. As aerospacematerials supply chain in an important one, is satisfied that thebusiness of Iron and Steel Research has been involved in the highnational strategic interests. “We must complete the task of the State,but also have benefits.” Zhao Minghan repeatedly emphasized that thecompany assumed the national mission.
According to reports, in our third generation fighter engine has a tonof multiple, involving a total of multiple components, including anindispensable component is satisfied by the high production of Iron andSteel Research. the part before the country can not produce, but as itinvolves military secrets, not to sell abroad in China, R & Dcomponent of the task falls on the study of high steel satisfied, thecompany ultimately fail in their mission. At present, only the steel ofthis study can produce parts with high sodium. The beginning of theproduction only a few kilograms per year for one or two engines, to2007, the part needs a sudden heavy volume, you need to supply morethan 60 copies, 2008,2009 demand is reached in more than 100 copies .companies to raise emergency funds, the equipment, but production linesare qualified construction period and production of modulation requiresa long process.
in the next three years, from the material under the Task Force membersto put a lot of energy, 3 years, there is little rest. Also, becausethe state approved the project takes time, Steel Research Gaona firstDianqian independent research and development on their own. Hard workpays off in 2009, the company’s shipments to the state expectedproduction to meet the user requirements.
“Company executives are working to shareholders. Iron and SteelResearch Gaona state-owned enterprises, the former shareholders of thestate, materials related to national defense and national security, theState must be responsible, this is a mission; Now the company listed onthe GEM, raising funds of 5.5 billion, our net assets have more than 8million into a shareholder which also joined the ordinary investors,they voted the money, we have for they are responsible, can not bediscounted, This is another mission. “Zhao Minghan words full of senseof mission and responsibility.
civilian proportion will be raised to 70%
steel research products with high sodium current is casting hightemperature alloys, wrought superalloy products and new hightemperature alloys, The company has a casting capacity of 920 tonshigh-temperature alloys, wrought superalloy 150 tons, 15 tons of newhigh-temperature alloys. Iron and Steel Research Gaona 2009 revenue ofnearly 3 billion, 60% of the products for aerospace customers.
in the company’s revenue structure, the military accounted for 60%, 40%civilian. Zhao Minghan that military products is very important, demandis very stable, to bring stability to the company’s sales revenue andnet profit; Moreover, the field of aerospace materials company which isone of the industries supported by the state, the future will benefitfrom the China Aviation The rapid development of aerospace and asubstantial investment. But the disadvantages are also obvious thatthere are limits on the scale of a year’s demand is only so much growthcan not be too large, and the company’s growing scale of productiondoes not match. If you rely solely on the military market, the Iron andSteel Research development of high rate of satisfaction in the comingyears will surely be affected, while the broad market areas of thedevelopment of civilian space for Iron and Steel Research Gaona seehope.
Steel Research Gaona listed on the GEM funds raised will be mainly forthe aerospace and deformation temperature of powder metal products,aerospace aluminum with a titanium metal products, new high-temperaturesolid self-lubricating composite materials and products , casting hightemperature alloys high-quality precision casting, vacuum casting andhigh temperature alloys, master alloys level projects. In addition tothe new system to meet the aerospace materials and equipment needs, thecompany will open up car engine with turbocharger turbine superalloyprecision castings, and chemical industry and automotive engine valvecasting parts precision casting, and other civilian market. Clearly, inaddition to consolidating the basis for the field of aerospacematerials, steel, high-sodium has been increased research in thecivilian areas of expansion.
Zhao Minghan evangelism, fund-raising project of this company by leapsand bounds is an important step in the development of the company toenhance market competitiveness and long-term development of greatsignificance, in 2014, the production of several major projects , thecompany will increase the proportion of civilian share of revenues to70%, while the military will drop to 30%.
He particularly the future of automotive products, high hopes, becausethe demand for automotive turbocharger to a rate of 30% per year. Thisis a greater demand for high-temperature alloys market worldwide in theneeds of the turbocharger turbine more than 900 million pieces of 2tons of material each year the domestic market demand, and growingevery year, this study of high steel satisfied that the development ofexpansion has great appeal. But the whole industry a bit confusing,quite a mixed bag, some small township enterprises do, the quality isuneven.
“With our technology, the company the industry leader to do this noproblem.” Zhaoming Han admitted that the company is consideringexpanding production scale. Iron and Steel Research Gaona turbochargerturbine superalloy materials used in the traditional technology will beimproved so that higher material quality and production efficiency,material costs will also come down, the end product life will belonger. He said the company’s products with high quality and low costadvantage to expand their market strategies have been identified andwill consider a number of professional sales companies for productpromotion.
supreme alternative incentives
compare alternative is satisfied that the current high steel researchonly not implemented the GEM equity incentive company. Although the eraof knowledge economy has jealously guard the high-tech talent, butmaking the rich GEM vigorous myth has nothing to do with them.
“in the existing conditions, to one person too much money out of thereward is not realistic, but the Iron and Steel Research Gaona’ve triedeverything, including the company the highest possible treatment, andthe spirit of national honor award. “The policy and institutionalconstraints, Zhaoming Han did not express much worry. The actualcontrol of the company are the SASAC, the annual selection of theadvanced level of individuals, companies and technical personnel haswon many honors, which is priceless. He sighed, “like us to doresearch, more attention to the embodiment of human values, we areworking to the state, such a lofty national pride not everyone hasaccess to, is paramount.”
in the “alternative incentive” under the effect of lack of incentivestock options and Steel Institute did not give the development ofhigh-sodium bring too much of the past. From 1985 to now, 20 years,inclusive of high-performance steel research steadily rising, there isno decline in the year before. This allows Zhao Minghan proud.
talk to him: “The company is growing very strong, emboldened enough,operation, and all for a common purpose, and the year exceeded targetsevery year. In the GEM in the horizontal comparison, Iron and SteelResearch The annual performance of high growth and satisfaction is nottoo prominent, but the longitudinal comparison, the company has beendeveloping, on a small step each year, and is a world-class enterprisesinto the high-temperature alloys. “
Nevertheless, Bound system inevitably led to the loss of a number oftechnical staff. For long-term development and ambitious future goals,high-sodium is bound to face Iron and Steel Research radicalinstitutional change.
Zhaoming Han admitted that the company to the outside world theimpression that the incentive system in place, and strong enough, thecore technical staff lack of enthusiasm. This year’s shareholdermeeting, shareholder proposals to solve the company has seniormanagement and core technical staff of the equity incentive problem,the company has recognized this problem and is actively working withmajor shareholders, communication and consultation with competentauthorities to seek practical and concrete solutions. The main problemfacing the program is the exercise price and conditions of vestingconditions set too high, employees will feel that is true, ofenthusiasm, given the low and pass the examination and approval.Although the dilemma, a specific implementation plan has not yet beenestablished, there is no specific timetable, but Zhaoming Han said theconfidence to produce a satisfactory answer to everyone.
