The heavy truck industry is expected to pick up in 2013 but the fundamentals are calm before and after the Spring Festival. Weichai Power 's profit comes mainly from its engine business, which accounts for more than 80% of its profits, of which less than 70% of heavy-duty engine sales account for about 30% of construction machinery engines, and a small number of passenger cars and other engines. . In the heavy truck industry downstream of the engine, we believe that the investment in infrastructure will be boosted, the real estate and logistics markets will pick up, and with the expectation of the national IV switch, the heavy truck market will be expected to recover in 2013 and the performance is expected to improve. Heavy truck industry data began in September 2012. Monthly sales volume continued to improve month-on-month, with a year-on-year growth rate of -11.2% in December. In the short term, the fundamentals remained calm before and after the Spring Festival. With the improvement of investment, it is estimated that the first two months of 2013 The decrease was 5-10% year-on-year, and the sales growth rate was gradually correcting in the April-March season. The growth rate of the engine downstream engineering machinery industry in 2013 is expected to improve. If the investment starts, it will drive the company's engine business to improve substantially. Acquisition of KION and Linde Hydraulics still takes time to contribute The company's acquisition of KION and Linde Hydraulics is expected to achieve common resource sharing in the sales network, supply chain, operations management, etc., and will create synergies in the long term. In 2011, the KION Group was insolvent and the high financial expenses caused the company to make losses. The net profit was -93 million EUR. 1H12's net profit was 255.7 million euros, turning losses into profits, totaling about 200 million yuan, and it is expected that it will turn a profit in 2012. Linde Hydraulic's 2011 earnings before income and EBIT were 276 million and 39 million euro respectively, which is a relatively small contribution to the company's 2011 net profit of more than 5 billion yuan. Sales of LNG Engine Business Concentrate on Main Business The company transferred to the controlling shareholder Weichai Holdings a 40% stake in its subsidiary Westport New Energy, which is the main body of the company's LNG engine with a production capacity of approximately 50,000 vehicles. Road buses and other fields. The sale of LNG engine business mainly aims to concentrate on the main business. This transfer has little impact on the short-term profit of the company, but in the long run, LNG heavy trucks are currently in a high-speed growth period. In the long-term, this block business is expected to grow faster than the ordinary heavy truck industry. profit prediction The monthly sales volume of the heavy truck industry continued to improve. From March to March, the sales growth rate gradually increased, driving the company's heavy truck engine growth. The growth rate of the engine downstream engineering machinery industry in 2013 is expected to improve. If the investment starts, it will drive the company's engine business. Make a big turn. Carbonated/soda filling machine Soda Drinks Production Line,Automatic Soda Drinks Production Line,Soda Drinks Filling Machine Zhangjiagang Chunyuan Machinery Co.,Ltd , http://www.chunyuanmachine.com
Weichai Power: 2013 engine sales improved pending mergers and acquisitions to promote performance