Third-quarter profit of listed companies of internal combustion engines rises and falls
The previous increase in raw material prices will have a greater impact on the company’s profit this quarter. However, the prices of steel and other steel products have already begun to drop significantly in the near future. Due to the delay in cost transmission, it is estimated that the cost pressures of enterprises will ease in the fourth quarter.
The impact of the global financial tsunami on listed companies in the internal combustion engine industry has not been reflected in the third quarter report. However, from the impact of the financial crisis on global industries, the reporter believes that the domestic automobile industry will be hit hard, especially The impact on low-value-added products will be more pronounced, and the high growth of the industry may not be sustainable.
Weifu Hi-Tech: Investment Income Increases Third-Quarter Net Profit Increase
Weifu Hi-Tech (000581) announced the third quarter of 2008 report shows that in the third quarter the company achieved operating income of 640 million yuan, down 19.05% over the same period the previous year; to achieve a net profit of 34.48 million yuan, an increase of 5.8% over the same period last year.
The company disclosed in the third quarterly report that due to China's implementation of the State 3 emission regulations starting from July 1, 2008, it has impacted on some of the company's products, causing the company's operating income to decline in the third quarter. However, due to the increase in investment income obtained from the participation of Bosch Automotive Diesel Systems Co., Ltd., the net profit attributable to the parent company for the period from July to September reached 33.9281 million yuan, a year-on-year increase of 47.24%.
Weifu Hi-Tech achieved operating income of RMB 2.523 billion in the first three quarters of the year, an increase of 2.95% from the same period of last year; and a net profit of RMB 161 million, a year-on-year increase of 36.87%.
Shangchai Co., Ltd.: The future growth of beneficiary investment income can be extended
The company's third quarter report released by Shanghai Stock Company (600841) shows that the company achieved total operating revenue of 969 million yuan in the third quarter, an increase of 13.8% from the same period of last year; and a net profit of 13.41 million yuan, an increase of 18.3% compared with the same period of last year.
The investment income of Shanghai Diesel Engine Co., Ltd. increased by 36.94 million yuan over the same period of last year, a year-on-year increase of 693%. The increase was mainly due to the increase in equity transfer proceeds and short-term investment income during the period, as well as the profitability of joint ventures and associates in the current period, which resulted in a significant year-on-year increase in the corresponding equity income of the company.
In the first three quarters, the company realized operating income of 3.111 billion yuan, a year-on-year increase of 20.7%; and a net profit of 37.76 million yuan, a year-on-year increase of 99%.
Petroleum Jichai: Benefiting stable growth in oil and gas exploration performance
The third quarterly report released by Oil Jichai (000617) a few days ago said that from July to September, the company achieved operating income of 368 million yuan, an increase of 47.80% year-on-year; operating profit of 30.78 million yuan, a year-on-year increase of 33%; and a net profit of 320.07 million yuan. , an increase of 58.68%.
During the reporting period, the company’s performance increased by a certain amount, mainly due to the increase in demand for oil and gas exploration equipment in the third quarter, which led to a significant increase in the sales volume of its main products, V-diesel engines and diesel engine accessories, and increased operating income. According to the report, the growth of the company's performance mainly comes from the renewal of oil drilling equipment and the exploration of new oil fields. It is expected that the growth rate of the company's performance in the next three years will be between 10% and 20%.
The report shows that the company achieved operating income of 891 million yuan in the first three quarters, an increase of 18.36% year-on-year; operating profit of 53.01 million yuan, a year-on-year decrease of 43.77%; and a net profit of 66.30 million yuan.
In the first three quarters, the company’s operating income increased, but its operating profit dropped sharply, by 43.77% year-on-year. According to the analysis, the main reason is that under the pressure of increasing raw material costs, the comprehensive gross profit margin dropped to 19.64%, a year-on-year decrease of 1.90 percentage points. Moreover, as Baoji and Xianyang's net profit of the two participating companies fell compared to the same period of last year, the company’s investment income in the first three quarters declined, which was a decrease of 41.39% year-on-year.
[next] Weichai Power: Excellent earnings performance, increasing pressure in the future
The third quarter report issued by Weichai Power (000338) reported that the company's operating income in the third quarter was 7.453 billion yuan, a year-on-year increase of 16.85%; net profit was 454 million yuan, a year-on-year decrease of 28.6%.
As can be seen from the analysis of the data, the company's gross profit margin in the third quarter also showed a sharp drop, which was mainly due to the decrease in demand for the heavy truck industry and the increase in the prices of raw materials such as steel. Under the combined effect of declining sales growth and cost pressures, the consolidated gross profit margin decreased by 5.79 percentage points year-on-year.
The report shows that the company's total operating revenue for the first three quarters reached 28.432 billion yuan, an increase of 30.91% year-on-year; net profit was 2.018 billion yuan, an increase of 53.13% over the same period last year. Although Weichai Power achieved a net profit growth of more than 50% year-on-year in the first three quarters, and its earnings performance was excellent, with the rapid decline in the prosperity of the heavy-duty truck industry, the company will face greater pressure for profitability in the short term.
Cloud Power: Profits Decline Significantly
According to the third quarter report of Yunnei Power (000903), the company achieved operating income of 38.94 million yuan in the third quarter, which was 14% lower than the same period of last year; operating profit was 16.8 million yuan, which was 61.4% lower than the same period of last year; and net profit was 12.91 million yuan. It was down 63.8% from the same period last year. The report stated that the major reason for the company’s operating profit decline was mainly due to the decrease in investment income during the reporting period.
The company's consolidated gross margin in the third quarter was 16.14%, which was a decrease of 3.93 percentage points from the same period of last year, mainly due to the impact of rising raw material prices in the first half of this year, which put the company’s cost pressures on hold, an increase of 0.72% over the same period of last year. Although the steel price rebounded at the end of June, due to the delay in cost transmission, the company's third-quarter cost remained high, and it is expected that the cost pressure in the fourth quarter will be reduced.
It is understood that the company has its own intellectual property rights of 1.6 to 2.5 liters of electronically controlled high pressure common rail car engine products have been put into production, there are currently related models sold in the market. In addition, the company raised 1.258 billion yuan at the end of 2007 for the expansion of the production capacity of the Cheungchai Engine. The project has already established a production line of 60,000 sets of chimney engines in the Kunming Hi-tech Zone and will be put into production in mid-2009. It is expected that the company will vigorously develop the business of chambray in the future to make up for the decline in traditional businesses. According to the company's plan, the production capacity of the chimney will reach 200,000 units in 2011, and will meet or exceed the output of traditional engines by that time.
The company's operating income in the first three quarters was 1.428 billion yuan, which was 4% lower than the same period of last year. The operating profit was 90.84 million yuan, a decrease of 53.88% compared with the same period of last year; and the net profit was 84.46 million yuan, 49% lower than the same period of last year.
Changchai Co., Ltd.: Loss of its main business loss in the third quarter
The third quarter report of Changchai Stock Exchange (000570) showed that the company achieved operating income of 480 million yuan in the third quarter, a decrease of 0.87% from the same period of last year; and a net profit of -19.98 million yuan, a decrease of 179.54% from the same period of last year.
According to the report, the major reason for the sharp decline in net profit compared to last year was that during the reporting period, the company still held 4.5 million shares of "Futian Automobile" as a trading financial asset, as the "Fukuda Motor" stock price fell and was fair in the first three quarters. The value change income was -35.64 million yuan, of which the fair value change income in the third quarter was -558 million yuan. The other main reason is that the agricultural machinery market experienced major changes in the third quarter, resulting in a significant drop in the sales of the company's single-cylinder diesel engines. The sales of single-cylinder diesel engines were 169,000 units, a year-on-year decrease of 30.38%, which affected the company’s main business profit in the third quarter.
In the first three quarters of the year, the company achieved operating income of 1.63 billion yuan, an increase of 4.3% over the same period of last year; and a net profit of -15.58 million yuan, a decrease of 108% over the same period of last year.
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