News, 2023-10-15
Sinotruk's pre-increase announcement of third-quarter performance and the sales data of the first three quarters reconfirmed its king status as the industry leader. According to the announcement disclosed by the company on the evening of October 13, SinotruK expects to achie.ve a net profit of 625 million to 695 million yuan in the first three quarters of 2023, an increase of 75% to 95%. Among them, the net profit of the third quarter was 146 million yuan to 164 million yuan, an increase of 300% to 350%.
For the reasons for the substantial growth of performance, the company summarized two internal and external factors. From the external point of view, the macroeconomic operation is generally good, the demand for logistics heavy trucks is rising, and other factors are driving the strong momentum of exports, and the recovery of the heavy truck industry is obvious. Internally, the company continues to improve product quality and product competitiveness, accelerate product optimization and upgrading and structural adjustment, and accurately implement marketing strategies.
Sinotruk Group has a first-mover advantage and a leading edge in overseas markets. Under the circumstance of presenting major opportunities in overseas markets, SinotruK has paid more attention to its overseas business to an unprecedented level. At the recently held Global Strategic Partner Conference, SinotruK proposed the goal of export sales exceeding 140,000 units in 2023. And will continue to standard European and American brands to promote high-end layout.
Sinotruk's confidence comes from years of deep cultivation of export business. As of the end of June this year, SinotruK Group has developed a distribution network of about 220 at all levels in more than 90 countries and regions, and established 28 overseas cooperative KD production plants, forming a basic coverage of Africa, the Middle East, Central and South America, Central Asia and Southeast Asia and other developing countries and major emerging economies. As well as Australia, Ireland, New Zealand and some mature markets such as Hong Kong, Taiwan and other international marketing network system. At the same time, the adjustment of product structure in overseas markets is also fruitful, and SinotruK Group's high-end products accounted for 45.4% of export products in the first half of the year, an increase of 23.2 percentage points over 2022.
Looking to the future of the heavy truck industry, exports are still an important driving factor. Soochow Securities pointed out in the research report that with the advent of downstream demand in autumn and winter, natural gas heavy truck purchase and export still support the continuation of heavy truck sales boom. It is believed that the "policy momentum" and "economic momentum" in 2024-2025 are expected to continue to exert strength, and the triple factor resonance of domestic economic recovery, the compulsory elimination of the national four to promote the purchase, and the outbreak of the export market will drive the total volume of the plate to increase. It is expected that China's heavy truck exports will continue to explode, and the performance is expected to hit a new high.
