According to the data, as of March 5, 2012, 50 of the 84 listed car companies disclosed 2011 annual results forecast or annual report, 23 expected net profit increased year-on-year, almost all of the parts and components companies; 27 companies expected net Profits fell year-on-year, with three companies expecting losses.
As the growth rate of terminal sales in the automotive market slowed down significantly, the overall performance of listed companies in the vehicle category declined. Relatively speaking, listed companies benefited from high-quality customers and asset injections, achieving steady growth.
Most of the vehicle companies have poor performance
Affected by macroeconomic tightening economic policies, as well as high inflation, high oil prices, withdrawal of consumption incentives, and restrictions on purchases and restrictions, the growth rate of production and sales in the auto industry slowed down noticeably, and vehicle manufacturers experienced large-scale declines. According to the data, among the 12 listed companies that have released performance forecasts or annual reports, only SAIC Group expects its performance to increase year-on-year, and the rest of the companies have experienced different levels of performance decline.
According to the data of the China Automobile Association, in 2011, China's automobile production and sales were 18.41 million and 18.5501 million respectively, up only 0.84% ​​and 2.45% respectively, a 13-year low. In 2009 and 2010, vehicle sales increased by 46.1% and 32.4%, respectively.
In terms of passenger cars, the sales situation of small and medium-sized cars is not optimistic due to the exit of automobile consumption encouragement policies and consumption upgrades. The competition in the low-end and mid-end cars tends to become hot, and the price range of products is moving downwards. The cost of the products continues to rise, and the general performance of self-owned car companies has declined.
FAW Car and FAW Xiali are expected to decline their net profit for 2011 by 80%-98% and 45%-75% respectively; BYD's net profit also fell 44.38%. Changan Automobile said that due to various factors, the overall growth of the micro-car industry was negative. The company's micro-car sales decreased by 28.25% year-on-year. The net profit for 2011 is expected to decrease by 50.67% to 55.60%.
The growth rate of the commercial vehicle market is highly correlated with economic growth. Under the background of slowing economic growth, relevant listed companies are feeling the pressure of performance. Foton Motor's 2011 net profit fell 29.99% year-on-year, and Yaxing Bus expects a net loss in 2011.
Foton Motor said that the macro environment in the automotive industry in 2012 will be much better than in 2011, but it is unlikely that the country will encourage auto consumption policies. At the same time, investment growth, especially real estate investment growth, will slow down significantly. This has led to a decline in sales in the commercial vehicle market. In addition, this year China's auto market will usher in the peak period of new capacity production, and sales and performance pressures will further increase.
Component manufacturers are mixed
The growth rate of terminal sales in the whole vehicle market has slowed down, and has not yet fully affected the upstream auto parts industry. Among the 23 auto listed companies that are expected to grow year-on-year in 2011, there is only one auto vehicle manufacturer, and the rest are parts and components. the company.
The five companies that are expected to increase their performance by more than 50% are from the auto parts industry. Hejia Co., Ltd. expects the company's 2011 net profit to increase by more than 750% year-on-year, ranking first in the industry's performance growth. However, the company's performance growth is not due to the smooth development of the main business, but because the company's custody income is fully included in operating income, and a subsidiary reduces losses.
As a supplier of car bumpers and anti-scratch strips for companies such as BMW Brilliance, Beijing Benz, and Shanghai GM, Molding Technology has benefited from the good sales of these major customers and achieved performance growth. The company expects net profit to increase by 120% to 170% year-on-year, mainly due to the increase in sales of the company's products, which has resulted in economies of scale and the receipt of dividends from Jiangsu Bank Co., Ltd.
In addition, Wanfeng Aowei, Wuhan Plastics, and Changchun Yidong are expected to increase their performance by more than 50%. Among them, Wanfeng Aowei benefited from the injection of high-quality assets, while Changchun Yidong had a strong downstream customer FAW Group. In the case of cold weather in the automobile market, the sales situation was less affected.
Relatively speaking, due to the year-on-year decline in sales of micro-cars, the production and sales volume of micro-car engines produced by Dongan Power Participating Co., Ltd. fell sharply, resulting in a significant drop in investment income of Dongan Power, which is expected to drop more than 80%.
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