Technology

Weichai Power's profit growth is better than the industry

Seetao 2022-07-15 11:21
  • In the first half of 2022, the heavy truck industry sold 380,000 units, down 64% year-on-year
  • Judging from the growth rate of performance in the first half of the year, Weichai Power's profit growth rate is better than the industry's
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Affected by multiple unfavorable factors such as repeated epidemics, tight supply chains, poor logistics, and slowdown in infrastructure, China's commercial vehicle and construction machinery industries fell into a downturn in the first half of 2022.

According to data from the China Association of Automobile Manufacturers, the heavy truck industry sold 380,000 units in the first half of 2022, a year-on-year decrease of 64%. According to data from the China Construction Machinery Industry Association, from January to May 2022, the construction machinery industry sold 656,000 units, a year-on-year decrease of 16%; among them, 120,000 excavators were sold, a year-on-year decrease of 39%.

As of July 15, the performance forecasts of industry-related listed companies have been disclosed. The reporter has compiled relevant data and let us see which listed company performed the best.

Year-on-year growth rate from the first half of the year

Under the background of the industry downturn, relevant listed companies have been affected to varying degrees. Judging from the growth rate of performance in the first half of the year, the performance of various companies varies.

Comparing the growth rate of the industry, we can see that in the construction machinery industry, although Zoomlion ranks high, it is obviously weaker than the industry; in the heavy truck industry, the decline of Foton Motor and China National Heavy Duty Truck has narrowed, and the performance of FAW Jiefang has reached a cliff. slide down.

In contrast, in recent years, Weichai Power, which has accelerated the adjustment of multiple structures and deployed strategic emerging businesses, has become the only listed company outperforming the industry.

quarter-on-quarter growth

According to data from the China Automobile Association, in the second quarter of 2022, China's heavy truck industry sold 148,000 units, a year-on-year decrease of 71% and a month-on-month decrease of 36%. From the monthly data in the second quarter, the heavy truck industry has entered the track of gradual recovery.

The reporter also split the data quarterly, let's take a look at the performance of each listed company in the second quarter.

From the above table, we can see that in the heavy truck industry, China National Heavy Duty Truck and Weichai Power have an obvious trend of profit improvement, and FAW Jiefang lost a lot in the second quarter. narrowed.

Judging from the overall performance, Weichai Power is significantly stronger than the sluggish heavy truck industry with a "double excellent" performance. In fact, Weichai Power has built a diversified business layout after years of structural adjustment. The proportion of non-road engines such as agricultural equipment, construction machinery, and power generation has increased. The contribution of new business types such as large-bore engines and hydraulic pressure has increased, and the export of complete vehicles and engines has accelerated. , has already laid the groundwork for handing over this report card that crosses the cycle. Editor/Zhao E