The recovery of the heavy truck industry will benefit the new government and drive the company's core business From this year, the recovery of the domestic heavy truck industry has driven the performance of the company significantly. On September 21, the country officially implemented the new policy of overload regulation. The strict implementation of regulatory standards will promote the further release of heavy truck market demand. As one of the leading companies in the heavy truck industry chain, the company benefited from the favorable performance of the industry, and its operating performance improved significantly compared to last year. According to the company's published data, in the first half of the year, a total of 107,800 sets of 10L, 12L, and 13L engines were sold, a year-on-year increase of 17.5%. Heavy-duty engine sales continued to increase year-on-year in the third quarter. The industry recovery continued to make the company's main products such as trucks, engines and transmissions achieve overall growth during the year. Acquired Dematic and continued overseas strategic layout The overseas subsidiary KION is the second largest forklift manufacturer in the world and is also the core strategic entity for Weichai Power's expansion of its overseas operations. In June of this year, KION signed an agreement to acquire Dematic, a global leader in automation logistics, at a consideration of approximately US$2.1 billion, and form a complementary structure of “storage forklift + logistics automationâ€. The acquisition is also expected to expand the company's business layout in the North American market, share the high-quality customer resources of both parties, and achieve simultaneous and diversified development of the downstream demand areas and sales areas of the product. In addition, many end customers of KION and Dematic are in the category of retail consumption, which can effectively hedge the traditional business of the company from being affected by the economic cycle and enhance its overall anti-risk capabilities. Heavy-duty high-quality enterprises + diversified globalization, maintaining "overweight" rating As a high-quality enterprise in heavy truck industry, the company's recovery momentum helps maintain the market's dominant position in related products. In addition, the company also actively adopts an outreach layout strategy to accelerate the coordinated development of products such as heavy-duty trucks, core components, and logistics automation. Overseas high-quality assets such as KION, Dematic, etc. will contribute to the globalization of the company and balance its business focus. The company's future prospects are optimistic and maintain its "overweight" rating.
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Weichai Engine
Weichai Power's Third Quarter Report: The Industry Rejuvenated
Weichai Power released the third quarter of 2016 report, the company's total revenue in the first three quarters of 62.892 billion yuan, an increase of 15.25%; third-quarter operating income of 20.605 billion yuan in a single quarter, an increase of 13.74%; benefit from the heavy truck industry recovery, report During the period, the company’s core products, especially the heavy-duty truck engines, maintained a good momentum of sales, and the company’s rapid growth in business performance was in line with previous expectations.