Recently, the domestic mainstream bus listed companies, which represent the industry vane, have successively released the business performance announcements for the first three quarters of 2020, revealing their respective profitability and research and development, which has become one of the most concerned focus issues in the bus industry at present.
In this paper, the operating performance of five bus listed companies in the first three quarters of 2020 is briefly analyzed (the following data are all from the operating performance reports of the first three quarters released by listed companies):
Summary of sales volume, income, profit and R&D expenses of the top five bus listed companies in the first three quarters.
Yiyutong bus
Comments: Yutong Bus, an unparalleled leader in China bus industry, achieved a profit of156 million yuan in the first three quarters of 2020, down 88.2 1% year-on-year, 53.44 percentage points higher than its sales revenue of 34.77% in the first three quarters and its sales volume of 56.5538+0% in the first three quarters. In other words, the profit of Yutong Bus in the first three quarters of 2020 is much faster than its revenue and sales volume, which reflects the sharp increase in operating costs and the sharp decline in the profit margin of the bus industry, indicating the cruelty of the bus market this year. Even so, other bus companies can imagine how difficult it is to operate this year!
Although the operation is so difficult, Yutong Bus is profitable after all. What's more commendable is that Yutong's R&D expenses in the first three quarters only decreased by 65,438+05.77% compared with the same period of last year, far below its profit decline. Its R&D expenses account for 7.03% of revenue, which is the highest in the industry. Especially in the third quarter, the R&D expenses of Yutong Bus only decreased by 5.82% year-on-year, almost slightly. It can be seen that Yutong Bus attaches great importance to product technology research and development. It shows that Yutong bus pays more attention to the technical upgrading of products and wins the market with leading product strength. This is also an important reason why Yutong Bus is far ahead in the industry!
2. Jinlong Automobile Group (including Xiamen Jinlong, Xiamen Jinlv and Suzhou Jinlong)
Comments: As the "Three Dragons" (Xiamen Jinlong, Xiamen Jinlv and Suzhou Jinlong) concerned by China bus industry, what are the profits in the first three quarters of 2020? -204 million yuan, down 36 1.59% year-on-year, far greater than its sales revenue decreased by 26.57% in the first three quarters of 335.02 percentage points, and far greater than its sales volume decreased by 25.7 1% in the first three quarters of nearly 336 percentage points. In other words, the profit of Sanlong Bus in the first three quarters of 2020 fell much faster than its income and sales speed, which reflected the sharp increase in operating costs and the sharp decline in the profit margin of the bus industry, indicating the cruelty of the bus market this year. It can also be seen that the operating quality of Jinlong in the first three quarters of 2020 is much worse than that of Yutong.
Although the operation is so difficult, after all, the research and development expenses of Sanlong Bus in the first three quarters only decreased by 0.3% year-on-year, far below the decline in its profits. It can be seen that Sanlong Bus attaches great importance to product technology research and development, which shows that the more difficult the industry is, the more it attaches importance to product technology upgrading and wins the market with leading product strength, which is basically similar to Yutong Bus.
Third, Zhongtong Bus
Comments: As Zhongtong Bus, one of the "three dragons and two companies" concerned by China bus industry, what is its profit in the first three quarters of 2020? 0. 1 1 100 million yuan, down 79.84% year-on-year, far greater than its sales revenue of 32.64% in the first three quarters, down 47.2 percentage points, and far greater than its sales of 27.7 1% in the first three quarters, down nearly 52. 13 percentage points. In other words, the profit of Zhongtong Bus in the first three quarters of 2020 decreased faster than its income and sales volume, which reflected the sharp increase in operating costs and the sharp decline in the profit margin of the bus industry, indicating the cruelty of the bus market this year. It can also be seen that the operating quality of Zhongtong in the first three quarters of 2020 is still good compared with other peers. Of course, the overall situation is not very good, which is determined by the general environment.
Although the operation is so difficult, the R&D expenses of Zhongtong Bus in the third quarter only decreased by 38.5% year-on-year, which was lower than its profit in the third quarter of 465,438+0.34%. This shows that Zhongtong Bus attaches great importance to product technology research and development.
Fourth, An Kai bus.
Comments: As an old luxury bus listed company in China bus industry, what is the profit of An Kai in the first three quarters of 2020? 267 million yuan (mainly from the transfer of 40% equity of An Kai Axle and land revenue), up 97.45% year-on-year. Its passenger car revenue and sales volume have dropped significantly year-on-year.
In the third quarter, the R&D expenditure of An Kai bus was 33 million yuan, up 65,438+02.97% year-on-year, accounting for 6.02% of the revenue (this ratio is also relatively high), which shows that An Kai bus also pays more attention to R&D investment.
Verb (abbreviation of verb) Yaxing bus
Comments: As an established bus company, the profit of Yaxing Bus in the first three quarters of 2020 was-88 million yuan, down 77 1.95% year-on-year, 739.82 percentage points lower than its sales revenue of 32 13% in the first three quarters, and nearly 723 percentage points lower than its sales volume of 49% in the first three quarters, indicating the operating conditions of Yaxing Bus.
In the first three quarters, the R&D expenditure of Yaxing Bus was 39 million yuan, a year-on-year increase of 65,438+05.04%. In the environment of sharp decline in profits, the growth rate of R&D funds invested by Yaxing Bus is still much faster than the decline rate of its profits, which shows that it also attaches great importance to the investment in product technology research and development.
Summary: Based on the analysis of the operating conditions of five listed bus companies in the first three quarters of 2020, it is found that the operating conditions of the bus industry are really bleak this year, and the profitability has shrunk dramatically, but the same thing is: the more difficult it is, the more attention is paid to the investment in product technology research and development. This also shows that the competition in the future bus market is mainly the competition of product technology. Whoever masters advanced technology first will occupy the commanding heights of market competition first, and who may gain market opportunities!
This article comes from car home, the author of the car manufacturer, and does not represent car home's position.