On the evening of March 31, Sinotruk (000951) released its 2021 annual report. According to the annual report, the company achieved operating income of 56.099 billion yuan in 2021, down 6.4% year-on-year; and achieved a net profit attributable to the mother of 1.038 billion yuan, down 44.79% year-on-year. Sinotruk said that the company continues to enhance the core competitiveness of products, continue to deepen the market segment, in 2021 the main indicators are significantly better than the industry average, heavy truck market share to achieve steady increase.
The company said that in 2022, it will continue to promote the iterative updating of technology, accelerate the development of pure electric, hybrid and fuel cell vehicles with electric drive bridges as the main route, accelerate the application of a new generation of intelligent driving, intelligent networking and other technologies, create differentiated competitive advantages, and create new growth points.
Market segmentation
In 2021, the heavy-duty truck industry showed a cyclical turn, and the National VI upgrade overdrafted the demand in the second half of the year, resulting in the industry showing obvious "high before and low after" characteristics. According to the China Association of Automobile Manufacturers, heavy-duty truck sales in 2021 will be about 1.395 million units, down 13.8% year-on-year.
According to the annual report, the company achieved a total of 202,000 heavy-duty truck sales throughout the year, and its export sales remained the first in the industry for 17 consecutive years.
In the market segment, the company has made a good breakthrough. Tractor market, the company continues to reduce the fuel consumption and self-weight of tractor products, the market share in the mainstream enterprises in the industry to increase the first amplitude, especially in the medium and long-distance composite transportation market share is far ahead, of which Howo TH tractor with high reliability, high comfort and high value has become a popular product. In the truck market, the company's market share has doubled with the help of differentiated product competitive advantages, and Howo TX cold chain transportation and Howo N series bulk transportation have become star products. In the mixer truck market, the company continues to lead the product innovation of the mixer truck industry and continues to maintain the first place in the industry.
In addition, the company accelerated the breakthrough of the weak market for trucks and high-end dump trucks, and through business cooperation with China National Heavy Duty Truck International Co., Ltd., product exports have maintained the forefront of domestic heavy-duty truck industry exports for 17 consecutive years.
Continue to increase investment in research and development
In terms of scientific research and innovation, the company continues to increase investment in research and development, and promotes the continuous optimization and upgrading of product types and structures in energy saving and new energy, intelligent driving, and internet of vehicles, and has achieved a number of results. Batch promotion of a new generation of high-end Yellow River heavy trucks; hydrogen fuel cell heavy truck multi-scenario demonstration application, driverless electric collection card batch delivery, continue to walk in the forefront of the industry; China National Heavy Duty Truck Yellow River independent brand snow wax car service Winter Olympics, filling the domestic gap.
During the reporting period, the company carried out the reform of logistics methods with the help of ERP, MES system on-site, and the on-site application of intelligent logistics equipment, and realized the further improvement of distribution capabilities through the verification and implementation of logistics planning and factory entry mode. By expanding the scope of modular assembly, standardizing the assembly process, and optimizing the content of process operations, production abnormalities are reduced and the level of production stability is improved. With the help of the optimized information system, the whole process control from order review, production and manufacturing to vehicle delivery is strengthened, so that the timely delivery rate of orders is increased to more than 98%. The effective implementation of various measures has greatly improved the company's production and delivery capabilities and effectively met the needs of customers.
In addition, the company continues to stimulate new kinetic energy, accelerate the progress of Laiwu intelligent network connection (new energy) heavy truck project, through the optimization of design equipment installation and civil work, following the assembly line, chassis topcoat line, cab welding line and stamping line and other production lines have also entered the line verification stage and gradually optimized. The use of digital, automated, modular and flexible production lines has improved the level of intelligent equipment of enterprises, as well as the process level and quality assurance capabilities of products, and strengthened the comprehensive competitiveness of the company's products.
Create new profit growth points
For 2022, the company said that advanced infrastructure investment and proactive fiscal policies will be expected to drive market opportunities for engineering vehicles and heavy trucks, and the zeroing of China III vehicles, the restriction of China IV and strict environmental protection will bring about a replacement increase. In addition, the release of the "double carbon" policy brings new opportunities and challenges, and new energy and intelligent networked vehicles will become a new round of scientific and technological revolution and industrial transformation of the iconic and leading products.
Sinotruk said that in 2022, it will continue to promote the iterative updating of technology, accelerate the development of pure electric, hybrid and fuel cell vehicles with electric drive bridges as the main route, accelerate the application of a new generation of intelligent driving, intelligent networking and other technologies, create differentiated competitive advantages, and create new growth points. The company will continue to optimize the marketing network, continuously enhance the brand image, continue to deepen the international market, and promote product and brand internationalization. Ensure that all economic indicators grow steadily on the basis of 2021, and strive to achieve sustained and healthy development of the company.
Shandong Business Daily And Leopard News Network reporter Feng Yunyun Li Di