Production and sales of hot Weichai Power semi-annual report to double the net profit

Weichai Power announced that it expects to realize a cumulative net profit of approximately RMB 2.56 billion to 3.17 billion in the first half of 2010, an increase of approximately 110% to 160%. And the chairman of the company, Tan Xuguang, stated clearly that he has long been optimistic about the vast market space for heavy truck engines.

Recently, Weichai Power mentioned in an announcement that the company’s net profit for the first half of the year is expected to increase by 110% to 160%. However, Changjiang Securities analysts believe that this forecast is conservative, because the second quarter earnings should not be lower than the first quarter. The analyst said in a research report that, first of all, this is the history of heavy trucks. Over the years, China's heavy-duty truck industry has sold more than the first quarter in the second quarter. Secondly, in the first quarter of this year, the sales volume of heavy trucks was 267,500 units. In April and May, the accumulated sales amounted to 222,900 units. Considering that the mainstream heavy truck manufacturers had more unscheduled orders in June, the sales volume of the heavy truck industry in the second quarter will exceed the sales volume. 1st quarter. Heavy trucks produced by Weichai Power also showed a high growth trend. According to data from the Automobile Industry Association, China's heavy-duty truck industry grew at an alarming rate in the first half of this year, and sales of many heavy truck companies increased by more than 70% year-on-year. Third, since 80% of Weichai Power's profits come from the engine, and the gross profit rate of the engine far exceeds the entire vehicle, it is usually above 25%. Taking into account the fact that the cost of raw materials for producing engines has changed little and the sales volume of engines has increased significantly, the performance of Weichai Power in the second quarter should not be lower than in the first quarter.

So, whether the hot weather can continue or not and what is the future prospect? For this, we can “see and see the leopard” from the latest proposed goal of Weichai Power Chairman Tan Xuguang. "In 2012, sales income will reach 50 billion yuan, in 2015 it will reach 80 billion yuan, and in 2020 it will exceed 100 billion yuan, becoming the world's largest general-purpose power supplier with core technologies." Tan Xuguang recently showed the company's short-, medium-, and long-term development goals. Can be described as heroic.

Tan's lofty enthusiasm mainly stems from the current shortage of orders and is optimistic about the future heavy truck market. Tan Xuguang said, "In 2010, the engine market demand continued to be hot, subject to the company's production capacity, we failed to meet the market demand in a timely manner, and more or less to bring customers some losses." It is understood that after overtime work Later, in May of this year, Weichai Power's monthly production of engines hit a record high, but there are still a large number of customers waiting in line for the engine.

When talking about the future of the heavy-duty truck market, Tan Xuguang stated that “in the next 10 years, the demand for large and medium-displacement diesel engines in China will grow at a rapid rate, which will help Weichai’s engine business grow stronger and bigger. Take the heavy truck market as an example. The production capacity of heavy-duty customers has reached 1.5 million, and will exceed 3 million by the end of the “Twelfth Five-Year Plan.” If Weichai Power maintains an existing market share of nearly 40%, it will produce and sell 1.2 million units in five years.”

It is reported that Weichai Power will expand its production capacity in order to complete the goal of the world's largest. Tan Xuguang pointed out that it will rely on Weifang and Chongqing two major production bases to comprehensively increase the production capacity of each series of engines. In 2015, it will have a production capacity of 1.5 million high-power engines and will exceed 2 million units in 2020. Therefore, during the "12th Five-Year Plan" and "Thirteenth Five-Year Plan" period, Weichai Group will invest 15 billion yuan to build two major engine manufacturing bases in Weifang.

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