Recently, Shaanxi Tongli Heavy Industry Co., Ltd. (hereinafter referred to as "Tongli Co., Ltd.", "the Company"), a leading domestic wide-body dump truck, disclosed its 2023 annual report.
In 2023, the company will achieve operating income of 5.860 billion yuan, a year-on-year increase of 12.67%; The net profit attributable to shareholders of the listed company was 615 million yuan, a year-on-year increase of 31.87%. In 2023, the company's weighted average ROE will be as high as 27.82%, an increase of 3.22 pct from 2022.
The wide-body dump truck, spare parts and maintenance business grew in an all-round way, and the overseas market expansion was smooth
Founded in 2005, the company is a construction machinery manufacturer integrating product development, design, production, sales and after-sales support services and general contracting services. After nearly 20 years of continuous research and development, in-depth front-line research and working conditions, the company's products have won a good market reputation in terms of adaptability, reliability and cost performance, and have been well received by users. The market share of the company's products has maintained a leading position in the industry, and the market share of wide-body dump trucks is about 40%.
At present, the company's main products are TL87, TL88, TL89 and other series of off-highway wide-body dump trucks, as well as TLD series off-highway mining dump trucks, TLK series tunnel vehicles, TLS series off-highway sprinkler trucks, TLQ series bridge transport vehicles and other construction machinery products. The company's products are widely used in open-pit coal mines, iron mines, non-ferrous metal mines, cement and building materials and other mines, as well as water conservancy and hydropower and other large-scale engineering sites. In 2023, under the guidance of adhering to the direction of "large-scale, intelligent, and new energy", the company has successfully developed the first double-axle driven "rigid truck" (off-highway mining dump truck) TLD125 in China, and has now begun to be sold in batches, with a good response from the market. In addition, in addition to traditional fuel models, the company has also launched new energy vehicles such as pure electric drive, hybrid drive, hydrogen fuel, methanol fuel, and intelligent driving drive-by-wire chassis. In the field of off-highway wide-body vehicles, it leads the direction of industry development. In 2023, the off-highway dump truck sub-industry will fluctuate slightly compared with 2022, the domestic market will be relatively stable, and the overseas market is still in the early stage of development, and it is expected to continue to maintain stable and high growth in the next few years. Under this industry trend, the company's off-highway wide-body dump trucks will achieve revenue of 5.447 billion yuan in 2023, a year-on-year increase of 10.91% over 2022, accounting for 92.95% of revenue. In addition, in 2023, the company's accessories sales and maintenance services will increase significantly compared with 2022, of which the sales revenue of accessories will be 236 million yuan, a year-on-year increase of 56.88%. The main reason is that with the growth of sales in recent years, the demand of service providers for repair and maintenance parts outside the three-guarantee period and outside the three-guarantee period has increased. In 2023, the company's maintenance service revenue will be 53.0128 million yuan, a year-on-year increase of 141.42%. The main reason is that with the steady increase in sales in recent years, the company has increased the capacity building of vehicle three-guarantee out-of-period services to provide users with a more comprehensive overall service plan. The company's internationalization strategy is advancing rapidly, and overseas markets continue to usher in explosive growth. In 2023, the overseas revenue of the company's products will be 981 million yuan, accounting for 16.74%, an increase of 68.52% over 2022, and a three-year compound growth rate of 139.35%. At present, the company's product sales cover all provinces in China, while the overseas market has been expanded to Pakistan, Indonesia, Malaysia, Mongolia, Tajikistan, India, the Democratic Republic of the Congo (DRC) and other countries and regions, with the rapid advancement of the internationalization strategy, there will be more countries and regions in the future to lay out sales and service guarantee system. In October 2023, the company successfully held an international agent conference at the Xipo production base, and many foreign agents gathered in the company to discuss the development strategy of overseas sales in the next few years, which accelerated the pace of the company's rapid development in overseas markets. In order to lay out the global market, the company established a Singapore subsidiary in 2023, which provides strong support for further development of overseas markets. To sum up, with the simultaneous efforts of domestic and overseas markets, the company's operating income in 2023 will be 5.860 billion yuan, a year-on-year increase of 12.67%, and the company's operating income will increase from 2.004 billion yuan in 2018 to 5.860 billion yuan in 2023, with a five-year compound growth rate of 24%.
Zhuozhong construction machinery media organization
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