Structural Adjustment Drives High-quality Development, Sinotruk's Net Profit Increases by More than 80% in the First Half of the Year
July 03, 2023
July 2，Sinotruk（3808.HK）Release of 2023 Interim Performance Pre-increase Announcement，It is estimated that the net profit in the first half of 2023 will increase by 80% over the same period last year%To 100%，Based on this calculation, the net profit attributable to the parent company in the first half of the year was about 23..0.9 billion yuan to 2.5 billion yuan.6.6 billion yuan。The company said，The reason for the substantial increase in performance is mainly due to the steady improvement of domestic macro-economy and the increase of overseas market demand.，Heavy Truck industry demand recovery is obvious。The company seizes market opportunities.，Continuous adjustment of product structure and business structure，The sales volume of products has increased substantially.，Significant improvement in profitability。
Enter 2023，Sinotruk's efforts in regional structural adjustment remain unchanged，On the basis of maintaining overseas traditional advantages，Continuously tap the potential of domestic market segments，Breakthroughs have been made。At the same time，The company continues to optimize product structure.，Promote high-end layout，Continuously enhance profitability。
According to CAAC data，2023 1- May ，China's heavy Truck exports totaled 11..310,000，Year-on-year growth of 78.41%。By the end of May，The company's heavy Truck market share is 27..08%，Up 3% from the end of 2022.44 percentage points。Among，The company's overseas market advantages are once again highlighted.。This year 1- June ，The company's export sales of heavy trucks were 6..50,000，Top in the industry，Occupying half of the heavy truck exports in the industry。
Overseas market is the traditional advantage of Sinotruk.，Maintain the first place in export sales of the industry for 18 consecutive years，Years of layout have helped the company to achieve a counter-trend increase in market share during the industry trough in 2022.。By the end of 2022，The company has developed about 300 distribution outlets at all levels in more than 90 countries around the world，It has established nearly 500 service outlets and spare parts outlets.。
Thanks to the deep grasp of the market and precise policy implementation，The first half of this year，The segment market performance of Sinotruk is also outstanding.。It is understood that，Heavy truck products are realized in seven segments“First in the industry”，Including the first sales volume in the long-distance logistics transportation market、No.1 in the express delivery market、Dangerous goods industry sales first、Sales volume of muck truck ranks first in the industry、The growth rate of the share of Refrigerated Trucks ranks first in the industry、No.1 in high-end special-purpose Vehicle industry、AMTSales volume is the first in the industry。
The company's technological and resource advantages are concentrated in many subdivisions.。For example, in the field of long-distance logistics transportation, which mostly pursues power performance.，The company actively exerts the resource advantages of Shandong Heavy Industry Group.，Precise matching of Weichai power high thermal efficiency engine，It ranks first in the long-distance logistics transportation market with more than 500 horsepower.。2023 1- May ，The company's share of Tractors above 500 horsepower reached 25%。The first half of this year，More stringent requirements for product performance 4×2 Express Tractor Market，The company relies on low fuel consumption、High reliability product advantage to achieve market ranking industry first，The market share is 34.4%。
Product structure optimization，The company forms a comprehensive layout.、The strategic way of key breakthroughs，And continue to promote the high-end process.。
The first half of this year，As a representative of high-end commercial Vehicles, the company's Shandeka brand has achieved export sales of about 20000 Vehicles.，An eight-fold increase over the same period last year.，Effectively boost the company's overseas market sales.。Soochow Securities believes，With the application of newly developed technologies in the future，The company's high-end product competitiveness and voice will be further enhanced.，The price center is expected to rise with the market demand.，Release greater performance flexibility。
Comprehensive product coverage is also one of the company's core strengths.。Soochow Securities is optimistic about the product strength advantage and growth potential of Sinotruk in the research report.，It is believed that the company is actively promoting technology autonomy and controllability.，Enhance their own product strength and technical strength。Relying on its own mature diesel powertrain technology，The company has built HOWO successively.、Shandeka、Yellow River and many other heavy truck brands，Low product coverage、Medium、High and different price ranges，Including engineering、Logistics and other different application fields，And sold to the global market at home and abroad。
