Share This

Public company info - Qingling Motors Co. Ltd. - H Shares , 01122.HK

Input the stock code or the company name     Search  
 
 Profile   Information   Data   Financial Ratios   Profit Loss   Cash Flow   Balance   Earnings   Dividend 

Qingling Motors Co. Ltd. - H Shares, 01122.HK - Company Profile
Chairman LUO Yuguang
Share Issued (share) 1,239,000,000
Par Currency Renminbi
Par Value 1.0
Industry Commercial Vehicle
Corporate Profile Business Summary: The principal activities of the Group are the production and sale of Isuzu light-duty trucks, multi-purposes vehicles, pick-up trucks, medium and heavy-duty trucks, chassis and automobile parts, accessories and others. Performance for the year: As at 31 December 2019, the Company sold 43,284 vehicles, representing a decrease of 9.21% over 47,677 vehicles sold last year. Revenue was RMB4,723 million, representing a decrease of 10.09% over RMB5,253 million as recorded last year. Profit after tax was RMB356 million, representing a decrease of 22.94% over RMB462 million as recorded last year. Business Review: In 2019, the macro economy was still in a crucial phase of transforming development mode, optimizing economic structure, and changing growth motivation. The domestic automobile market was under the inventory competition in an all-around way due to influences of a lack of demand, the implementation of National VI in advance in some provinces and cities, the decline of new energy subsidies, and the frequent issuance of new policies. In response to the challenges, the Company attached great importance to deploying various work. On the one hand, the Group focused on internal management and external market, quality improvement and costs control to stabilize operations; on the other hand, the Group adhered to product innovation, technology upgrade, team building, and mechanism reform to store reserve forces. As a result, the enterprise developed steadily. 1. Joint efforts were made to tackle tough tasks and accelerate the debut of National VI products. Firstly, the Group focused on development of all products of light, medium and heavy-duty trucks, pick-up trucks and internet of vehicles and succeeded in tackling National VI technical problems; secondly, the Group basically completed the preparation for mass production of National VI products; thirdly, the Group reviewed, inspected and evaluated each problem arising from the development test of National VI products, and established the initial mobile group of National VI products to carry out adjustment, and the technical quality has been effectively controlled and rectified; fourthly, the Group focused on the marketing and development, provided refitted plants and sample refitted vehicles, and cooperated with refitted plants to issue announcements in advance. The Group continued to focus on cities in which National VI emission standards were implemented in advance and key industries that require National VI products in advance, such as postal service and municipal administration, to capture the market of National VI trucks. 2. Great achievements were seen in the research and development of new energy vehicle products and the training of technical capabilities. Firstly, the entire series of products were electrified, and the entire series of the platforms for light, medium, heavy-duty trucks and pick-up trucks were also electrified. Announcements of various models were received by the Company. Light and heavy-duty trucks were put into the market in batches, and the technology and quality standards of product R&D were recognized by the industry; secondly, the Group built a forward R&D system covering seven major systems including the entire vehicle, battery, motor and electronic control, and achieved breakthroughs in the training of core technical capabilities. 3. Great efforts were made to produce intellectual products. Intelligent application of products were increased, and the R&D of networked and intelligent vehicles were promoted. Firstly, the Group advanced vehicle networking projects in three phases of foundation platform construction, comprehensive services providing, and in-depth big data application in sequence. The first phase of foundation platform construction has been completed and it can provide basic vehicle networking services for National VI products; secondly, the pre-research on intelligent vehicles was started. The Group cooperated with scientific research institutes and universities to carry out V2X project (vehicle-road collaboration technology) and the research and development of intelligent vehicles such as full electric special vehicles with Level 3 automated driving system. Among which, the special vehicle automated driving project, which was approved as a special key project of technology innovation and application and development in the city, has completed the trial production of a special automated-driving transport vehicle with laptop products applied in the Airport Logistics Park, which is under demonstration operations. 4. External cooperation was enhanced and expanded, and the construction of key projects were accelerated. Firstly, trial production and verification of prototypes were made in 4JZ engine project; secondly, as for the MYY gearbox project, the mechanized production line upgraded by existing production capacity already equipped with production capacity in small batches; thirdly, the introduction of new Isuzu models was promoted. Prospects: At present, as there are more sources of global unrest and risk points, the Company will strengthen the awareness of risk, adhere to the general principle of seeking progress while working to keep performance stable, adhere to the new development philosophy, center on the supply-side structural reform, adhere to the drive of reform and opening up, and promote high-quality development. To this end, the Company has set the following major tasks: 1. The Company will give full play to its current advantages and strengthen the confidence in career development. Firstly, it will stay focused on the main business of commercial vehicles for a long time, and form a complete industrial chain. The five assemblies are produced in-house, with a high starting point and a solid foundation, which can effectively support quality control of the product and research and development of new product; secondly, it will continuously introduce the leading products and technologies of Isuzu, forming a complete product spectrum, wide market coverage and strong capacity for specification expansion; thirdly, it will adhere to the sound business philosophy for a long time to stay a healthy financial position; fourthly, it will adhere to the Isuzu’s technical quality standards for a long time, which enjoy a high quality reputation, and continue to improve the cost performance. 2. The Company will strengthen innovation-driven model, and enhance new momentum for corporate development. Firstly, it will prioritize according to sales volume, regulations and corresponding response time, and prioritize the creation of main products; secondly, it will speed up the completion of the development of full-series National VI products; thirdly, it will comply with regulations in advance and collect regulatory information in time to quickly respond to regulatory requirements. 3. The Company will promote the marketing effectively, and lead its sustainable development. It will build a market-oriented marketing organization, use practical skills to promote the nurturing of dealers, not only to expand new dealers but also to stabilize old dealers, strengthen market research, research and judgment and corresponding speed. It will continue to strengthen the development of major customers and promote the marketing, promotion and sales expansion of the new National VI products and new energy vehicle products. 4. The Company will strengthen basic management and support its high-quality development. It will strengthen production management by promoting on-site management, quality management and improving production efficiency, continue to deepen the consciousness of “competitive bidding and manufacture of high-quality products”, in accordance with the requirements of “legal and compliant, reliable and durable, exquisite and good-looking”, pay close attention to the steady improvement of quality and reduce product costs. 5. The Company will further promote key projects and save its development potential. It will vigorously promote VL17 project equipped with 4JZ, T+ upgrading and replacement project and hydrogen fuel truck project, etc.

Information from the financial statements of listed companies

Mobile | Full
Forum rule | About Us | Contact Info | Terms & Conditions | Privacy Statment | Disclaimer | Site Map
Copyright (C) 2024Suntek Computer Systems Limited. All rights reserved
Disclaimer : In the preparation of this website, 88iv endeavours to offer the most current, correct and clearly expressed information to the public. Nevertheless, inadvertent errors in information and in software may occur. In particular but without limiting anything here, 88iv disclaims any responsibility and accepts no liability (whether in tort, contract or otherwise) for any direct or indirect loss or damage arising from any inaccuracies, omissions or typographical errors that may be contained in this website. 88iv also does not warrant the accuracy, completeness, timeliness or fitness for purpose of the information contained in this website.