Engine sales of Weichai Power in the first five mo

2022-07-26
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Engine sales of Weichai Power may increase by 45% in the first five months.

engine sales of Weichai Power may increase by 45% in the first five months.

China Construction Machinery Information

Guide: engine sales of Weichai Power may increase by 45% in the first five months. Profit growth in the second half of the year may slow down. In the long run, we believe that Weichai Power has the ability to maintain a leading position in the domestic large tonnage heavy truck industry. Considering the current depressed market atmosphere, based on the price earnings ratio of 12 times and 9 times in 2009

-- profit growth or slowdown in the second half of the year

in the long run, we believe that Weichai Power has the ability to maintain a leading position in the domestic heavy truck industry with large tonnage. In view of the current depressed market atmosphere, based on the 12 times and 9 times P/E ratio in 2009, we lowered the target prices of a shares and H shares from 90.80 yuan and 67.10 Hong Kong dollars, which can realize the two tests of simply supported beam and cantilever beam, to 72.60 yuan and 60.3 Hong Kong dollars. We maintain the rating that a shares and H shares of the company are superior to the market<1. demand of metal materials for experimental machines:/p>

. We believe that Weichai Power is the beneficiary of the rapid growth of China's heavy truck and construction machinery industry. We predict that the company's total engine sales in 2008 will increase by about 45% to 180000 units year-on-year, which is mainly due to the strong demand for heavy trucks and loaders. We expect that the gearbox sales volume of the company will increase by more than 40% year-on-year in 2008. In addition, it is also suitable for the precise sampling inspection of the laboratory. According to the report of China automotive industry production and marketing news, Shaanxi heavy truck Co., Ltd., which is 51% owned by Weichai, sold 30100 heavy trucks in August, a year-on-year increase of 49%

2008 prospects. We believe that the new Euro III emission standards formulated by the government may significantly slow down the growth of heavy-duty truck sales in the second half of 2008. However, we have conservatively estimated that the company's engine sales in the second half of 2008 will reach 90000 units, far lower than the 210000 units predicted in the first half of 2008. We believe that the rise in steel costs may have little negative impact on the company's profits. The gross profit margin of Weichai Power in the first quarter of 2008 increased slightly to 24.0% from 23.8% in the same period last year

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