On August 29, 2014, Weichai Power Disclosure semi-annual report: In the first half of the year, the company realized operating income of 34.111 billion yuan, an increase of 10.32% year-on-year; net profit of 3.765 billion yuan, an increase of 80.57%, 1.88 yuan per share; intended to the whole Every 10 shareholders of the company distributed a cash dividend of 1 yuan (tax included).
Weichai Power said that thanks to its early deployment, new product launches, and innovation model to create new profit growth points, the company's domestic and overseas businesses have achieved breakthrough growth.
The main industry sector rebounded
According to the interim report, Weichai Power sold a total of 168,300 heavy-duty engines, an increase of 8.5% year-on-year, and the combined card market share of over 14 tons total weight reached 39.2%, an increase of 0.7 percentage points year-on-year.
In the first half of the year, the company sold a total of 21.35 million units of 10L, 12L, and 13L engines. The dominant position of heavy-duty engine products in the heavy-duty truck market, the 5-ton loader market, and the large passenger vehicle market remained stable. At the same time, the company's independent research and development of the blue-green WP5, WP7 engine supporting the scale of further expansion, the first half of a total of 7246 units sold, an increase of 72.3%.
In respect of heavy-duty vehicles, Shaanxi Heavy Vehicle Co., Ltd., a subsidiary of Weichai Power Holdings, sold 49,500 heavy trucks in the first half of the year, an increase of 5.3% year-on-year, ranking fifth among domestic heavy truck companies. In the transmission business, Shaanxi Fast Gear Co., Ltd., a subsidiary of the company, sold a total of 390,000 transmissions, a year-on-year increase of 21.8%, and the industry’s leading position was further consolidated.
During the reporting period, Weichai Power incorporated the company Kion, a company listed on the Frankfurt Stock Exchange, into the consolidated financial statements. The consolidated statements resulted in an increase in the company's net profit during the reporting period.
New products release power
Analyze the reasons for the recovery of the main business segments. Weichai Power believes that increasing investment in R&D and the gradual development of new products is one of the key factors.
During the reporting period, the company received a number of R&D and certification accreditations. Including emission standards upgrade R & D and certification, independent electronic control system R & D and new energy powertrain R & D applications.
Among them, in terms of emission standards upgrades, WP7 long-haul V diesel engines have passed the national form approval certification, German TUV certification, Russian GOST certification; and completed all the full range of national V standard high-speed diesel engine development and certification; VM WP3 State IV vehicle diesel engine is completed The final design review, supporting JAC light trucks in small batches; air purification companies exploring light asset business models, integrating post-processing of five key component resources, completing all basic IV integrated development of China IV, and Beijing V/Euro VI basic design plans. For the research and development of autonomous electronic control systems, the “Electric Engine Control System for Euro VI Research†selected suppliers, and identified all development needs. The project officially entered the development stage; “Chido Star†users surged to cover the whole country, and the amount put was more than 2,600 sets. .
In terms of R&D and application of new energy powertrains, WN20 successfully completed a 2,400-kilometer road test; the National Science and Technology Support Program “Generalized Modular Hybrid Powertrain for Commercial Vehicles and Construction Machinery†successfully passed the acceptance of the Ministry of Science and Technology; the hybrid vehicle system for buses completed power. Sex, economical and electrical balance tests.
During the reporting period, the self-developed Lanqing WP5/7 engine with intellectual property was further expanded, with 7,246 units sold in the first half of the year, an increase of 72.3% year-on-year.
The AT and AMT automatic transmissions began mass production on the market; a series of new products such as S transmissions, DS bus transmissions, hydraulic retarders, and speed reducers, which were developed independently, were highly favored by users.
At the same time, the new technology model M3000 sold 9675 vehicles, a year-on-year increase of 285%; Shaanxi Heavy Vehicle Co., Ltd.'s X3000 cab passed the European standard crash test, marking the safety performance of the product's cab has reached the domestic and even European advanced level, for The overseas promotion of HX products laid a solid foundation.
Create new profit growth points
Aftermarket service is the new direction of Weichai Power. Through the introduction of new channel construction and creating new profit growth points, as of the first half of 2014, Weichai Power has a total of 83 central equipment stores, oil product stores, and remanufactured dealers, and 225 spare shops and distributors. , 839 oil change centers.
During the reporting period, there were 36 overseas offices in Weichai and 267 service stations; the forms of overseas market development were diversified (indigenous manufacturing, supporting), and some markets have achieved mass production, and several target markets are in urgent need of development; Manufacturing experience has provided successful cases for the implementation of plant establishment in other regions.
Weichai Power also actively promoted the establishment of Linde Hydraulics' domestic joint venture company. As of the first half of 2014, the Xiamen plant has been successfully put into operation and all components have been imported, making full use of Xiamen's resources to localize product assembly. At the same time, the company is actively preparing for the establishment of the Weifang factory.
The market is expected to maintain growth in the second half of the year
Forecasting the market trend in the second half of the year, Weichai Power stated that the heavy-duty truck market situation is more severe and it is expected that the cumulative growth rate of the market will further narrow, but it is still expected to maintain year-on-year growth; the construction machinery market is expected to usher in a new type of urbanization plan. A round of development opportunities. The future will continue to lead the market in high-power engines, heavy-duty transmissions and heavy trucks.
Tan Xuguang, Chairman and Chief Executive Officer of Weichai Power stated: “In 2014, the company proposed nine tough battles that must be won, covering cultural development, management enhancement, core product competitiveness, cost reduction and efficiency improvement, and international development. The company's operations at all levels will become a new direction for the company's reform and innovation. At the same time, the company will gradually follow the principles of 'strategic unification, independent operation, and resource sharing' in accordance with the concept of globalization development. The mechanism will coordinate the development of domestic and overseas markets and the needs of internationalized businesses, and accelerate the coordinated development of the company’s entire vehicle segment, powertrain segment, hydraulic control segment, auto parts segment, and aftermarket segment, giving full play to domestic and foreign companies. The synergy between resources such as brand, technology, manufacturing, marketing, and management will continuously enhance the quality of corporate development image and enhance the company's overall ability to resist risks."
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