According to statistics from the Shanghai Securities News, as of January 23, 37 listed companies in the automotive category (Shenwan industry classification) have issued performance forecasts, of which 33 companies are pre-happy, accounting for nearly 90%. The increase in overseas market demand is an important reason for the good performance of these companies.
Parts companies benefit from internationalization In terms of performance growth, there are 17 companies that are expected to increase their net profit by more than 100%, of which 14 are auto parts companies. Excluding the low base of the previous year and the impact of non-recurring profit and loss, the highest growth rate of net profit is currently expected to be Linglong Tire, which is expected to achieve net profit of 1.35 billion yuan to 1.61 billion yuan in 2023, an increase of 362% to 451%. For the reasons for the performance, Linglong Tires focused on the contribution of overseas markets. Benefiting from the continued recovery of domestic economic activities and the increase in overseas market demand, the superposition of raw material prices and sea freight fell, the company seized market opportunities, actively explore the market, product sales to achieve a greater growth, in 2023 to achieve a cumulative sales growth of 26.1%, of which higher gross profit passenger tires growth of 28.34%.
Many auto parts companies have listed the growth of overseas markets as an important reason for the performance. Joyson Electronics, for example, is expected to return to the mother's net profit of about 1.089 billion yuan in 2023, an increase of about 176%. It said that in 2023, with the recovery of production and sales in the world's major automobile markets, the gradual stabilization of the supply chain and the rapid development of intelligent electric vehicles, the global automotive industry operating environment has improved. In addition, thanks to the continuous volume of orders from domestic and foreign customers, the company's various businesses continue to maintain a good trend of steady growth. For example, Topu Group is expected to return its net profit to the mother in 2023 to 2.05 billion yuan to 2.25 billion yuan, an increase of 20.58% to 32.34%. Topu Group said that the company's internationalization strategy continues to accelerate, and the proportion of international business continues to increase, which is one of the main reasons for the pre-increase in performance. Many companies continue to be optimistic about the future of international development. Junsheng Electronics said that the company combined its accumulated global business advantages, and actively promote with the world's major customers in hand order price compensation and other matters of the discussion, and won the support of most of the world's head Oems, the price of the order in hand to obtain varying degrees of increase and compensation, is expected to the company's follow-up such global order delivery revenue generated performance indicators.
Commercial Oems actively "go to sea" is not only parts companies, many commercial Oems also predicted a satisfactory performance. Cimc, which mainly produces semi-trailers, announced that it expects to achieve a net profit of 2.398 billion yuan to 2.478 billion yuan in 2023, an increase of 115% to 122%. Yutong Bus is expected to return to the mother's net profit of 1.4 billion yuan to 1.9 billion yuan in 2023, an increase of 85% to 150%. The help of overseas markets has also become an important reason for the growth of these companies. Cimc said that the supply and demand situation of the North American semi-trailer market has gradually recovered, and the company's North American business has seized the market opportunity, and its profit has maintained a good growth trend compared with the same period last year. At the same time, the company also achieved good business growth in other overseas markets and improved profitability. Yutong Bus also directly announced the sales volume to demonstrate the progress made in overseas markets. In 2023, the company sold 36,518 buses, an increase of 20.93%. Among them, the export sales volume was 10,165, an increase of 78.87%; Domestic sales were 26,353 units, up 7.5% year-on-year. Yutong Bus said that benefiting from the recovery of overseas bus market demand and the growth of overseas new energy bus demand, the company's export business continued to develop, and export sales achieved substantial growth; At the same time, the proportion of the company's export business increased, the sales structure improved, and the performance contribution increased.
In the face of market competition, there are also a few companies whose performance is not satisfactory. The main automotive electronics company Weidi shares announced that it is expected to return to the mother's net profit in 2023 for a loss of 9 million yuan to 15 million yuan. It said that affected by factors such as the cancellation of subsidies for the purchase of new energy vehicles, the market demand for new energy buses in 2023 will decrease, and the related orders from the Oems to the company will decrease, resulting in a decrease in the main business income. The number of customers using the simplified version of the bus increased, and the unit price and gross profit margin of the product were lower, resulting in a decline in the gross profit margin of the main business. In addition, the company also has problems such as increased management expenses and increased asset impairment losses. Not only parts companies, but also Oems are facing greater challenges. Baic Blue Valley is expected to return to the mother's net profit in 2023 for a loss of 5.2 billion yuan to 5.7 billion yuan. For the reasons for the loss, BAIC Blue Valley said that the competition in the new energy vehicle market is becoming increasingly fierce, and the company continues to invest in core capabilities such as technology research and development and brand channel construction in order to continuously improve its comprehensive competitiveness, actively explore the market, sharpen its brand image, and improve operational efficiency, which has a certain impact on the company's short-term performance. Baic Blue Valley also said that the company's product sales are still in a period of rapid improvement, and the scale effect has not yet appeared, resulting in high product costs in stages; With the subsequent launch of new products, the product structure is gradually enriched, and the channel construction is further improved, the company's product sales and profitability are expected to continue to improve.
