According to the Securities Times, Weichai Power held a 2021 annual results conference, and Tan Xuguang, chairman and CEO of Weichai Group, answered questions that investors are concerned about, such as the international situation, industry development trends, company operations and future strategies.
Tan Xuguang said that there are many uncertainties in the current external environment, including economic downturn, sudden Russian-Ukrainian conflicts, etc., affecting the supply chain links including chips, which may have a greater impact on vehicle companies. However, he believes that the impact on engine companies is not very large.
According to Weichai Power's annual report, in 2021, it achieved operating income of 203.55 billion yuan, an increase of 3.2% year-on-year, net profit of 9.25 billion yuan, an increase of 0.3% year-on-year, and operating cash flow of 14.658 billion yuan, down 36.25% year-on-year.
"Double carbon, including new energy, cannot be divorced from reality, rush to achieve results, engage in sports carbon reduction, and step on the brakes." Tan Xuguang said that in recent years, the new energy industry has been more lively, there has been a "rush of swarms", and then disorderly competition, new energy vehicles, especially passenger cars, will have a catastrophic overcapacity.
"The energy structure is a diversified combination, which is the direction of the future, in different countries, different regions, according to local conditions, will form different energy combinations." For example, in the Middle East, it is not certain whether they will replace fossil energy with new energy. ”
Seeing the chairman of Weichai Power said that there will be a catastrophic overcapacity in new energy, many people will be very strange, why does the chairman of Weichai Power say so? What is the reason for this? What should we think about this?
First of all, we must understand that the current chairman of Weichai Power said such a thing, we must first know what Weichai Power is, Weichai Power is a very famous traditional automobile powertrain production enterprises, then its own business system and fuel vehicles actually have a very large relationship, so in such a situation, the ass determines the head, in fact, will also lead to the entrepreneurs of these enterprises will have some judgments that are not in line with our daily cognition. This is just like the previous Toyota head Akio Toyoda is also shelling new energy vehicles, so from this point of view, the chairman of Weichai Power said such a judgment, is there any truth in the end? We may also have to analyze it from a relatively objective and calm perspective.
Secondly, we look at the chairman of Weichai Power from another point of view, leaving aside the angle that he is not the head of the traditional fuel vehicle supply chain, whether this sentence is reasonable in the end, we currently think that such a judgment is also the most core reason for its reasoning is that the current development speed of the entire Chinese new energy vehicle enterprises is really too fast, in the large-scale development of new energy vehicle companies, in fact, many new energy automobile companies have actually appeared a blowout growth trend, in this state of explosive growth, In fact, there is a certain risk, the core reason for this risk is that the current new energy automobile companies are almost in a state of disorderly growth, for many companies, there may not be any experience in manufacturing cars before, it can be said that it is purely for the purpose of "making this hilarious, catching up with this outlet" on the crazy layout of new energy vehicles, so for most people the feeling is that it seems that a company is doing new energy vehicles, which also leads to the entire market of new energy vehicles actually facing greater problems. Especially for those new energy vehicle manufacturing enterprises that are not strong, it is likely that they will be eliminated by the market, so the chairman of Weichai Power said that there is overcapacity in the current market, in fact, it is also reasonable.
Third, from the perspective of long-term market development, the current new energy vehicle market, in fact, is very similar to the state of the smart phone market in that year, the market participants are very many, but everyone is actually a low level of development, the new energy vehicle enterprises that really have core competitiveness and core advantages are actually relatively limited, in this market disorderly competition, it will definitely accelerate the market reshuffle, those who can not get a long-term market development competitive advantage in the market, it is likely to be eliminated by the market, Therefore, the current statement of the chairman of Weichai Power is also a trend that may appear in the future market development, which we must understand.