On August 28, 2015, Weichai Power announced its semi-annual report for 2015. As of June 30, the company realized operating income of 36.455 billion yuan, an increase of 6.87% from the same period of last year; and profit of 969 million yuan, a decrease of 74.3%; and earnings per share of 0.24. Yuan; distributed an interim dividend of 0.10 yuan per share.
Weichai Power
Weichai Power said that due to the slowdown in macroeconomic growth, the fall in the growth rate of fixed asset investment, the sluggish manufacturing industry, and other factors, sales in the domestic heavy truck market have fallen sharply. The company’s sales of heavy truck engines , heavy trucks, and transmissions have also been affected. Declined accordingly. However, in the second half of the year, the overall decline in the heavy truck market is expected to narrow, and some market segments will face a new round of reshuffle. The company has already carried out preparatory work ahead of schedule and made positive progress. It will continue to seize opportunities and lead the industry in the new round of competition.
Industry leader
Weichai Power stated that during the reporting period, due to a variety of factors, the domestic heavy-duty truck market continued to slump and sales fell sharply. A total of 295,500 vehicles were sold, a year-on-year decrease of 31.13%.
Affected by this, the company sold a total of 64,900 heavy-duty engines, a year-on-year decrease of 61.5%. The company’s heavy-duty card market share of over 14 tons totaled 22.0%, maintaining a leading position in the industry; and the controlling subsidiary Shaanxi Heavy-duty Truck Co., Ltd. A total of 27,900 heavy-duty trucks were sold in the first half of the year, a year-on-year decrease of 43.6%, and continued to maintain the forefront of the domestic heavy truck industry. Shaanxi Fast Gear Co., Ltd., a controlling subsidiary, sold a total of 229,300 transmissions, a decrease of 41.3% year-on-year, maintaining its leading position in the industry. The construction machinery market achieved sales of 299,000 units, a year-on-year decrease of 23.4%, but it still maintained its leading position in this field.
Although the affected industries are sluggish, the company insists on reform and innovation as its main line, persists in endogenous growth, innovation-driven, and scientific development, accelerates its transformation and upgrading, comprehensively enhances development quality, and achieves stable and healthy development. Such as the integration of Weichai WOS operation management system, global R & D community, global supply chain system and full life cycle membership exclusive service system, the first in the industry to launch a smart power platform, and rely on this platform have nurtured and released high power and high performance heavy engines The wisdom products such as WP13 products and medium- and heavy-duty series Jing V products (including ordinary Beijing V and special Beijing V) lead the upgrading of internal combustion engines in China. At the same time, it adhered to market orientation, promoted product structure adjustments, promoted the coordinated development of traditional products and strategic products, adjusted market competition strategies in a timely manner, and better responded to the pressures brought about by vertical integration in the industry. After digging deeper into the market business segment, we actively innovated the business model and achieved breakthrough progress. The pace of internationalization has also become more stable. Linde Hydraulics' China plant has been officially put into production; India's construction projects, Myanmar and Ethiopia's technical output projects have steadily landed, and overseas markets have become more localized in manufacturing, opening up new prospects for opening up the international market.
Internet + innovation drive
Weichai's dynamic analysis believes that the macroeconomic situation in the second half of the year remains complicated, but the three major strategies that are conducive to the development of the heavy truck market, such as the “One Belt and One Road,†“Beijing-Tianjin-Hebei Integration,†and “Yangtze River Economic Belt,†will steadily advance and bring new A round of investment boom; the acceleration of new national urbanization will drive the growth of infrastructure and other related industries; new batch of free trade zone construction and e-commerce development will bring new opportunities for the development of the logistics industry; Heavy truck sales play a stimulating role. Therefore, the heavy-duty card market will rebound in the second half of the year, and the overall decline is expected to further narrow. It is estimated that about 600,000 vehicles will be sold in the whole year. However, the situation is still grim and the industry will enter a period of adjustment. The real recovery of the market still depends on the country’s continued strong policy support.
In addition, the relevant state departments are actively raising the emission standards for motor vehicles, and plans to implement the national V standards for gasoline and diesel vehicles in major cities in the Beijing-Tianjin-Hebei region, the Yangtze River Delta, and the Pearl River Delta from 2016; heavy-duty diesel The Che National VI emission standards have also been officially launched and are scheduled to be completed by the end of 2016. Affected by this, some market segments will face a new round of reshuffling, and the elimination of backward production capacity will further accelerate.
Weichai Power, with its leading technological capabilities, large-scale, high-quality product manufacturing, global resource synergies, and stable and loyal customer base, has made preparatory work in advance and made positive progress, taking the initiative in a new round of upgrading. In the future, the market for high-power engines, heavy-duty transmissions and heavy trucks will continue to lead.
To this end, Weichai Power has proposed eleven games that must be won, covering all aspects of corporate operations such as cultural construction, management improvement, product core competitiveness, cost reduction and efficiency improvement, and international development. A round of reform and innovation. The specific content includes the use of differentiated products to create value for customers, truly create the most cost, technology, and quality of the three core competitiveness of products; solid advance information construction projects and intelligent manufacturing projects, the Internet gene and Weichai reality closely integrated, We will build a smart manufacturing model with Weichai characteristics; implement business model innovation, explore and establish an e-commerce platform, and build a customer service network that responds quickly, operates efficiently, and has a well-developed system, helping enterprises transform from manufacturing to service manufacturing.
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