In terms of profit, Yutong Bus's net profit attributable to shareholders of listed companies during the reporting period was about 65.438+94.0 million yuan, down 654.38+05.70% compared with 2065.438+08.
The report shows that the revenue and net profit of Yutong bus decreased in 20 19, including the overall decline of the bus market of 7 meters and above in the bus industry in 20 19, and the national new energy subsidy standard was further reduced in 20 19. According to the data of China Bus Statistics Information Network, Yutong Bus successfully defended the sales champion in three market segments, namely, buses over 5m, buses with seats over 5m and school buses over 5m, in 20 19.
It is worth mentioning that, according to the report, the asset-liability ratio of Yutong Bus decreased in 20 19, while the operating cash flow increased significantly. As of 20 19, 12 and 3 1, Yutong bus's total assets were about 3.61900 million yuan, its total liabilities were1895.4 billion yuan, and its asset-liability ratio was 5 1.76%, compared with the previous year. Except for the decrease in asset-liability ratio, by the end of 20 19, the net cash flow generated by Yutong bus business activities was about 5.34 billion yuan, up 107. 16% over the same period of last year.
Yutong Bus's 20 19 annual report also announced that the company plans to implement the profit distribution plan of "every 10 share 10 yuan" in 20 19, with a total dividend of about 22140,000 yuan and a dividend rate of1. On the second day after the release of the annual report (March 3 1), Yutong Bus made an eye-catching performance in the stock market, closing at 13.69 yuan/share, with an increase of 4.90%. On that day, the Shanghai Composite Index rose slightly by 0. 1 1%.
Bus sales find a way out against the market
According to the data of China Bus Statistics Information Network, in 2065438+2009, the annual sales volume of buses over 5 meters nationwide was 190862, down by 7.85% year-on-year.
Among them, the overall industry sales of passenger cars, passenger cars with seats above 5m and school buses above 5m decreased by 9. 12%, 4.20% and 28.23% respectively in 20 19 compared with 20 18.
In the report, Yutong Bus attributed the decline of the overall bus market to three factors, that is, new energy led to the overdraft demand of buses from 20 15 to 20 18, the alternative competition between high-speed rail and private cars for passenger transport, and the low utilization rate of school buses, which cooled the market.
Despite the overall shrinking of the bus market in 20 19, Yutong bus still maintains an absolute lead in all market segments. In the market segment of passenger cars over 5 meters, Yutong Bus ranks first with an annual sales volume of 22,292 vehicles, which is about 2.5 times that of the second, with a market share of 26.63%.
In the market segment of passenger cars with seats over 5m, Yutong Bus's annual sales volume is 2577 1, which is also the first in the market, with a market share of 32.35%.
Finally, in the school bus market segment of more than 5 meters, Yutong Bus grabbed 52.79% market share with 6076 vehicles, which is a veritable market overlord.
It should be pointed out that Yutong Bus adopted a different statistical dimension from the above data in its 20 19 annual report. According to the report, in 20 19, the market share of passenger cars, passenger cars and school buses over 7 meters was 27.3%, 48.7% and 56.8% respectively.
Although the domestic bus market is declining, Yutong Bus achieved an increase in bus sales revenue in overseas markets in 20 19. According to the report, the overseas sales revenue of Yutong Bus in 20 19 was about 465,438+96 million yuan, up 3.47% year-on-year.
It is reported that Yutong Bus sold 7045 buses in overseas markets in 20 19, which became the mainstream of many countries. For example, on June 6, 20 19, local time in the UK, Yutong Bus delivered the 500th bus exported to the UK to the British dealer Pelican Engineering Company, becoming the third place in the UK tourism market share, second only to Mercedes-Benz and Volvo.
Dealing with the decline of new energy subsidies with technological upgrading
According to the Notice on Further Improving the Financial Subsidy Policy for the Promotion and Application of New Energy Vehicles jointly issued by the Ministry of Finance, the Ministry of Industry and Information Technology, the Ministry of Science and Technology and the Development and Reform Commission in March 20 19, the subsidy standard for new energy buses has further declined.
Among them, the central financial subsidy standards for non-fast charging pure electric buses, fast charging pure electric buses and plug-in hybrid buses are 500 yuan/kWh, 900 yuan/kWh and 600 yuan/kWh respectively. Compared with 20 18, the central financial subsidy standards for the above three types of new energy buses have decreased by more than 100%.
According to the annual report, the sales revenue of Yutong Bus's new energy vehicles during the reporting period was about 65,438+0,446,5438+0.7 billion yuan, of which the subsidy for new energy vehicles was about 22,965,438+0.89%, which was about 65,438+0.5+compared with 2065,438+.
It is worth mentioning that the annual report specifically pointed out that the subsidy for new energy vehicles is a state subsidy to consumers, which is uniformly declared by automobile manufacturers and paid by the state finance instead of consumers, reducing the actual cost of car purchase borne by consumers. Therefore, this money is normal sales income, not government subsidies.
Under the circumstance that the subsidies for new energy are declining and the market demand for new energy buses is overdrawn in advance, the composition of production and sales of new energy products of Yutong Bus 20 19 has changed.
The annual report shows that in 20 19, the output of Yutong bus pure electric and plug-in new energy vehicles decreased by 9.49% and 63. 15% respectively. At present, the production and sales of Yutong Bus 20 19, a fuel cell new energy vehicle with preferential policies and high market prospects, increased by 278.68% and 32 1.82% respectively.
It is reported that in the middle of 20 19, Yutong Bus released the hydrogen fuel cell bus F8. Its technical highlight is the fast hydrogen charging time 10 minute, the maximum cruising range is 500 kilometers, and it starts at-0/8℃.
The Ministry of Industry and Information Technology recently mentioned in the New Energy Vehicle Industry Development Plan (202 1-2035) that the commercialization of fuel cell vehicles will become an important goal in the future, which coincides with the development trend of Yutong bus's new energy technology route.
Focus on 2020: opening up new markets
According to Yutong Automobile's forecast in the annual report, the three major markets of passenger cars, buses and school buses will continue the downward trend of 20 19 in 2020 under the background of the continuous downward trend of the bus market and the impact of COVID-19 epidemic. Therefore, opening up new markets has become the primary task of Yutong Bus in 2020.
In addition to the promising fuel cell new energy vehicles mentioned above, all kinds of professional modified vehicles based on passenger cars (such as airport car ferry, medical care vehicle, communication command vehicle, RV, etc.). ) will become the key growth point of Yutong bus.
Taking RV as an example, according to the National Eco-tourism Development Plan (20 16-2025) jointly issued by the National Development and Reform Commission and the National Tourism Administration, RV tourism industry will become a key tourism project in all parts of China, including Jilin, Liaoning, Sichuan, Ningxia, Yunnan, Guizhou, Chongqing, Tibet, Qinghai, Fujian and Guangdong.
According to the data of RV Committee of China Automobile Industry Association, by the end of 20 19, the number of RVs in China was about 108000, which was 36.7% higher than that in 20 18, and showed a rapid growth trend year by year.
At present, in the RV market, Yutong Bus has a variety of models such as C-type RV, B-type RV and trailer RV, especially Yutong C3 10 RV, which has reached the national six standards. Once launched, it has aroused great concern in the industry.
In addition to the RV, Yutong Bus also predicted in the annual report that there will be a "filled" growth in the medical ambulance market in 2020. It is reported that in the COVID-19 epidemic, the demand for negative-pressure ambulances produced by Yutong Bus has increased greatly, and the production capacity has been at a high load level.
In the face of the bus market that is difficult to reverse in the short term and the uncertain economic environment affected by the epidemic, Yutong bus needs new growth points to bring vitality. Fortunately, by the end of 20 19, Yutong Bus's reduced asset-liability ratio and abundant cash in its account provided it with a broader business space.
The 2020 of Yutong Bus is worth looking forward to.
This article comes from car home, the author of the car manufacturer, and does not represent car home's position.