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Weichai Power has achieved multiple breakthroughs in the field of new energy
Seetao 2021-08-31 09:27
  • Weichai Power adheres to the innovation drive, seizes the opportunity of National VI, and realizes the increase of engine market share
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In the first half of 2021, Weichai Power has seized opportunities, improved quality and efficiency, and performed well in various business indicators; the leading position of advantageous businesses has become more stable, the contribution of overseas business performance has increased significantly, and new energy, new technology, and new business models have continued to make breakthroughs; The industrial structure, cycle structure and regional structure were further optimized, and the anti-risk capability and comprehensive competitiveness continued to increase. In the first half of 2021, Weichai Power achieved operating income of 126.39 billion yuan, a year-on-year increase of 33.8%. The net profit attributable to shareholders of listed companies was 6.43 billion yuan, a year-on-year increase of 37.4%. Basic earnings per share were RMB 0.80.

Increase in share, powertrain maintains strong momentum

Accelerate breakthroughs in key technologies, lead the transformation and upgrading of the industry, and set new record highs in powertrain sales. During the reporting period, 671,000 engines were sold, a year-on-year increase of 42.8%; 802,000 gearboxes were sold, a year-on-year increase of 32.4%; 638,000 axles were sold, a year-on-year increase of 19.5%.

Focus on market segments and consolidate the competitive advantages of the full range of products. The sales of heavy-duty truck engines increased by 3.2 percentage points to 32.4%; the sales of China VI engine products ranked first in the industry, a year-on-year increase of 108%; the sales of non-road engines increased by 43.1% year-on-year to 177,000 units, a growth rate Greater than the growth rate for roads. At the same time, high-end products have gained momentum. Large-bore engines achieved revenue of RMB 520 million, a year-on-year increase of 24.2%; high-end hydraulics have a comprehensive layout of medium and large tonnage excavators, with outstanding performance advantages and rapid market promotion. In the first half of the year, domestic revenue was 290 million yuan, a year-on-year increase of 27.3%.

Full effort, new energy achieves multiple breakthroughs

Control key technologies and lead the development of the industry. During the reporting period, Weichai Power and the Swiss Fast Group strategically cooperated to further extend the layout of the fuel cell industry chain and improve the core competitiveness of fuel cell powertrains; build a world-class international first-class integrating R&D, testing, inspection, and trial production functions A horizontal industrial park has formed a complete industrial chain inspection and inspection capability covering "basic materials-single cells-stacks-key components-engines-power systems-complete vehicles" for hydrogen fuel cells; March 2021, led by Weichai Power The construction of the National Fuel Cell Technology Innovation Center was approved.

Give full play to advantages, steadily promote commercial applications, and achieve substantial breakthroughs in products of the three major technical routes. During the reporting period, new plug-in hybrid power products were launched, and batch orders were obtained; heavy trucks equipped with 160kW hydrogen fuel cell systems completed the cold area test; power batteries were used in batches to support high-end market segments such as aerial vehicles, airport tractors, and forklifts. To achieve batch export, Weichai's new energy power system is equipped with the world's first pure electric bulldozer.

Seize the opportunity and continue to optimize the structure of heavy trucks

During the reporting period, Weichai Power focused on the strategy of driving the entire vehicle, adhered to the innovation drive, seized the National VI opportunities, and consolidated its leading advantage. Shaanxi Heavy Truck Co., Ltd., a holding subsidiary, focuses on customer needs and promotes product structure adjustment and optimization with regulatory upgrades as the guide. In the first half of the year, a total of 117,000 heavy-duty trucks were sold, a year-on-year increase of 32.4%, and logistics vehicles accounted for 61%. Continue to maintain the industry's leading position in the segmented markets such as the tractor economy market, the port traction market, and the sand and gravel transportation market.

Contributions increase, smart logistics raises its full-year outlook

In the first half of 2021, thanks to the recovery of industrial vehicles and services and the continuous growth of supply chain solutions, Weichai Power's overseas holding subsidiary KION Group AG ("KION") performed well in various operating indicators, achieving sales revenue of 49.68. Billion euros, a year-on-year increase of 26.5%, especially the supply chain solutions business represented by Dematic, which saw a significant year-on-year increase of 52.8%; realized a net profit of 290 million euros, an increase of 4.8 times year-on-year. Profit contribution increased significantly. As the global economy picks up, it is expected to continue its upward trend. The annual operating income is expected to increase by 16%-23% year-on-year to 9.7 billion-100.3 billion euros.

Technological independence, take advantage of the momentum

In the second half of the year, Weichai Power will focus on the 2030 strategy, seize new opportunities in the Sixth National Market, accelerate technological upgrades and move toward high-end products, give full play to the advantages of the entire vehicle and realize an increase in engine market share; support the strong recovery of smart logistics and the Asia Pacific Strategic landing: Accelerate the implementation of new energy, intelligent network connection, etc., and then increase the speed, significantly increase the performance contribution of hydraulics, large-bore engines, etc., and promote new breakthroughs in structural adjustment. Editor/Sang Xiaomei

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