The situation of China's engine production enterprises in 2016 is not optimistic


In 2015, the downward pressure on the domestic economy increased and the competition in the industry intensified. The engine and related supporting companies experienced the most severe challenges in the past decade or so. What about the 2016 engine industry? The author made a simple analysis of the profitability of engine companies in 2015 and the market performance in January 2016.


2015 engine-related poor performance of listed companies in 2015 <br> <br> analysis engine and its supporting businesses released 2015 results announcement can be seen, most of the engine and ancillary company profits fell in 2015 at a loss.

Weichai Power, as a mainstream enterprise in the engine industry, recorded a 67% to 78% decrease in net profit attributable to shareholders of listed companies in 2015 compared to the same period last year. Not only that, the data shows that Weichai Power's sales of diesel engines in 2015 were only 22.94. Million units, down 49.29% compared with the same period of last year, the ranking of diesel engines fell out of the top five in 2015. Dong'an Dynamics estimates that its net profit attributable to shareholders of listed companies will be reduced by 7.5%~38.3% and between 20 million and 30 million yuan in 2015 compared with 2014, according to the company's financial department. Steyr was still in the construction investment period due to the localization project of diesel engines, and no revenue and other factors have resulted in an engine loss of approximately 90 million yuan in 2015.

The performance of engine companies is not good and the pressure will naturally be transmitted to the parts and components companies that are supporting them. The 2015 performance of the related parts and components companies such as Xiangyang Bearing, Hunan Tianyan, Bohai Pistons, and Kangyue Technology all declined. The performance forecast shows that Hunan Tianyan’s 2015 operating results will have a loss of approximately RMB 46 million; the Bohai Pistons’ net profit will decrease by 70%~80% compared with the same period of last year; Fuda shares will also reduce by 50%~55. %.

In addition, the industry is not in a good situation and market competition is becoming increasingly fierce. In this situation, product prices will inevitably decline. However, raw materials and other costs will not be reduced. As a result, the overall gross profit margin of products will be reduced. Therefore, the profitability of enterprises will inevitably decline. .

January 2016 sales of the top 10 most chain engine business fell <br> <br> After analyzing 2015 performance condition of the engine companies look at the situation in January 2016 sales of engines, the Automobile Association data show that China's vehicle engine marketing Completed 2,223,235 units and 2,2007,36 units respectively, which represented a 9.35% increase in output and a 10.18% increase in sales volume over the same period of the previous year. However, compared with the previous month, the increase was much lower, as can be seen from the sales of the top 10 engine companies.

As can be seen from the chart, in January 2016, compared with the previous month, sales of the top 10 Chinese engine companies showed a significant increase in sales only SAIC-GM-Wuling and FAW-Volkswagen, and the two companies basically all the engine It is used for self-provisioning, so its growth is also attributed to its good performance in vehicle sales; Great Wall Motor Co., Ltd. and Changan Ford Motor Co., Ltd. achieved only a slight increase, and the engines of these two companies are also used for self-provisioned engines, with engine sales being 90%. The quality of the vehicles directly reflects the sales volume of the entire vehicle; among the remaining six companies, Shanghai Volkswagen Powertrain Co., Ltd. and Dongfeng Nissan Passenger Vehicle Co., Ltd. have the largest declines, reaching over 25%, and Chongqing Changan Automobile Co., Ltd. Shenyang Aerospace Mitsubishi Motors, Shenlong Motors Co., Ltd. and SAIC-GM Dongyue Powertrain appeared to have different degrees of decline, so overall, the situation of China's engine industry in January 2016 was not optimistic. Of course, last month was China's auto sales volume. "The highest end of the word recovery is also a reasonable decline from the previous month.

The decline in 2015 did not reverse with the surge in the auto market at the end of last year. At the beginning of 2016, it was still a sharp decline from the previous quarter. In this situation, the industry has to sigh that perhaps the development of China’s auto engine industry in 2016 will not be tolerable. An optimistic year.

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