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China National Heavy Duty Truck sold 1.31 million heavy trucks in May, a year-on-year and a quarter-on-quarter growth of 60.12% and -2.29%, respectively. It is expected that the company’s sales in June will reach the peak of the year, and it is not difficult to complete the preset target of 83,000 vehicles in the whole year.
China National Heavy Duty Truck Co., Ltd. released the May sales and sales bulletin on June 10. The company's production and sales of heavy trucks for the month were 15,980 and 13,083 vehicles respectively. The cumulative production and sales for the January-May period were 68,980 and 48,627, respectively, and the year-on-year growth rates were 70.54% and 51.50% respectively. . CNHTC Group sold 20,935 units for the month and accumulated sales of 98,937 units from January to May, an increase of 70.33% year-on-year.
Sales in June will hit the peak of the year. The company's sales in May increased by 60.12% and -2.29% year-on-year, and the sales were higher than 13,000 for three consecutive months. From January to May, the company’s accumulated production and sales volume was 20,353 units, which represented a further increase of 2,897 units over the previous four months. The schedule shows that the company’s current orders are still abundant. Referring to the company's sales laws in 2008 and 2009, June is often the company’s confirmed sales month. It is expected that the company’s heavy truck sales will exceed 15,000 units in June. In the second quarter, the company expects to achieve a sales volume of about 41,500 units, an increase of 19,300 units from the first quarter, reaching the peak of the year. In the first half of the year, the company expects to achieve sales of approximately 63,800 vehicles, which corresponds to 77% of the annual sales target. There is no suspense in the year. However, from a cyclical point of view, although heavy trucks in the first half of the decade continued their upward trend, the industry may face greater downside risks in the second half of the year as the real estate market turns cold and the country may adopt a tight fiscal policy.
Falling steel prices will help ease cost pressures. In the first quarter, the company’s operating profit margin was approximately 10.25%, which was higher than 3.6% in the fourth quarter of 2009 and 8.05% for the full year. This indicates that as the industry’s demand continues to rise, the price pressure on EGR products has eased, and the company’s The rebate of dealers has also been reduced to some extent. The continuous rise in steel prices since the beginning of the decade has seen a drop in the near future, which will help maintain the company's main business gross profit margin in the second quarter.
Be optimistic about the application of engine technology. With the signing of the long-term strategic cooperation agreement between CNHTC Group and German MAN, the Group will enjoy the exclusive rights of the complete TGA truck, D08, D20 and D26 engines and related components in line with Euro III, Euro IV and Euro V emission standards in China. And non-transferable rights to use licensing technology and know-how, as well as related distribution, after-sales maintenance, and service licensing technology and expertise. According to the latest news, MAN's axle technology will enter the company's bridge box plant, and the two vehicle platforms will be distributed between the company and the Jinan commercial vehicle factory. During the planning period, MAN's engine and batch production start time of the entire vehicle will be significantly benefited from the technology transfer brought about by this cooperation. On the one hand, it can save engine R&D expenditures. On the other hand, mature engine technology can also be used. Effectively improve the current status of high auto repair rate.
According to the quarterly report, the company achieved total operating revenue of RMB 6.010 billion in the first three months of the year, up 48.51% year-on-year; net profit attributable to shareholders of listed companies was RMB 174 million, a year-on-year increase of 208.70%; diluted EPS was RMB 0.41.
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