On March 29, 2018, Weichai Power held a press conference in Hong Kong and announced "2017 Annual Results." According to the performance report, the revenue of Weichai in 2017 was RMB 1,151.69 billion, a year-on-year increase of 62.66%, and net profit of RMB 6.808 billion, an increase of 178.89% year-on-year. The basic earnings per share was RMB 0.85, an increase of 178.89 year-on-year. Under the fierce competitive environment in the domestic market, Weichai has been able to deliver a successful financial statement to maintain high revenue and profit growth year after year. What are the reasons? In the past year, what actions did Weichai have made for its high returns? Have an impact? In what direction will Weichai develop in the future?
2017 Weichai's Annual Results Presentation
It is understood that, since 2017, Weichai has been adhering to an innovation-driven strategy, strategic transformation and structural adjustment are basically in place, and it has grasped a wealth of strategic resources in the world, resulting in a reasonable layout of domestic and foreign businesses, a significant increase in overall vehicle production, and a total power of the gold industry chain. It has become the core and intelligent logistics as a diversified ecological structure of new business.
Whole vehicle - Simultaneous share improvement and structural improvement
The complete vehicle business of Weichai Power continues to achieve a significant increase in market share, and the product structure is also more healthy and reasonable. Since 2017, Weichai Power has sold a total of 149,000 heavy trucks, an increase of 81.3% year-on-year, far exceeding the industry's growth rate, accounting for 13.3% of the market share, up 2.1 percentage points year-on-year, and the industry's fourth-place status has been more stable. In 2017, based on the traditional advantages of securing engineering vehicles, Weichai Power actively improved the competitiveness of heavy trucks for logistics use. The proportion of logistics heavy trucks in total sales was 67.3%. Based on this, in the future, Weichai Power will effectively respond to structural changes in the heavy truck industry and benefit from the development of construction vehicles and logistics vehicles.
Powertrain - Significant combination of advantages and advancement to high end
Weichai Powertrain achieved a full range of all-round powertrain portfolio advantages, while high-end products achieved impressive sales performance in 2017. All power machines sold 617,000 units, an increase of 61.3% year-on-year. Among them, the sales of high-power 12/13L engines with absolute leading advantages were 216,000 units, which doubled according to the year, accounting for 35% of the total engine sales. After the launch of the new platform 9H/10H engine, it quickly became a new generation of star products and sold 29,000 units; the key layout of the large bore engine sales of nearly a thousand units, quickly cut into the high-end market. The gearbox sold 835,000 units, a year-on-year increase of 66.8%. Among them, the sales of 12-16 gear transmissions totaled 437,000 units, accounting for 52.3% of the total sales volume of the transmissions. Hande Axle Precision Co., Ltd. has launched three major cities including heavy trucks, passenger cars and construction machinery. It has introduced several single-stage deceleration double-link drive axles and a full range of electric power. It has sold a total of 609,000 units since 2017, an increase of 72.0% year-on-year.
Smart Logistics - Growth in Scale and Profit Contribution Together
In 2017, Weichai Power Smart Logistics realized scale growth and profit contribution. The operating income was 7.65 billion euros, an increase of 37.0% year-on-year. The contribution to Weichai Power's net profit continued to increase, reaching RMB 1.13 billion in 2017. Weichai Power's KION Group has 1.3 million forklift trucks, and Demattech, a global provider of intelligent logistics solutions, has more than 6,000 automated logistics customers worldwide and continues to maintain its global leading position in the industry while Dematic has the following Two advantages: It is independent and complete, and it is the only global intelligent logistics solution provider. It is stable and reliable. It provides customers with core components such as boring transportation hardware and system integration software, and provides customers with efficient, error-free and highly reliable services.
Weichai Intelligent Logistics Maintains High Speed ​​Growth
Liquid system - "German Quality + China Service" accelerated landing
Linde Hydraulics (China) has built a Weichai engine + Linde hydraulic powertrain to provide integrated power solutions for construction machinery and agricultural equipment. In 2017, Linde Hydraulics (China) sold 12.24 million units, an increase of 104.3% year-on-year, and sales revenue doubled from last year. Major engineering machinery accounted for more than half of orders, and Linde Hydraulics (China) has passed National High-paying Technology Entrepreneurs' Determination. In the future, with the recovery of national infrastructure, Linde Hydraulics will benefit from the market recovery and share increase.
New Business - Upgrading to New Energy and Smart Networks
Faced with the rapid development of new energy power, Weichai Power, which is the leader of traditional energy, has gone head-to-head, comprehensively promoted the transformation and upgrading of traditional energy sources, and implemented major projects for the transformation of old and new kinetic energy. In 2017, Weichai Power announced that it would jointly establish a fuel cell vehicle technology industrial chain with Bosch and sign a strategic cooperation memorandum with Westport Canada to jointly develop natural gas engines. As the backbone of Shandong's equipment manufacturing industry, Weichai plans to build a new energy power industrial park, form industrial clusters and lead the benefits, and will be like intelligent, network, and digital transformation.
Tan Xuguang, CEO of Weichai Power Chairman of the conference
At the press conference, Tan Xuguang, CEO of Weichai Power Chairman, stated that Weichai people always stick to the goal of facing high-end and challenging the world. In 2017, Weichai's layout in overseas markets such as Europe, the United States, Southeast Asia, the Middle East, and North Africa became increasingly perfect. Weichai thus formally entered the ranks of large state-owned companies. In the future, Weichai will, under the guidance of the "2020-2030 Strategy," focus on the main business, adhere to the strategy of innovation drive, continue to increase the research and development of technology and products, and strive to develop industrial power and other non-compliance based on the predominance of traditional businesses. Road engines, hydraulic systems, new energy, smart logistics and other new business. By 2020, traditional businesses will exceed world-class standards. By 2030, the new energy business will lead the development of the global industry, strive to achieve a positive and stable high-quality development, and become a respected top 500 international companies.
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