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[ Market analysis of chemical machinery equipment network ]
Chemical machinery and equipment network market analysis chemical machinery and equipmentDomestic tire performance grows against the trend
Domestic tire performance grows against the trendSince the beginning of this year, under the dual influence of the impact of the epidemic and the decline in the auto market, the tire industry has suffered heavy losses.
However, the performance of domestic tires represented by Linglong tires has grown against the trend and accelerated the pace of production capacity layout.
However, the performance of domestic tires represented by Linglong tires has grown against the trend and accelerated the pace of production capacity layout.
1.
One after another overseas
1.One after another overseas
One after another overseas
The growth of performance against the trend further strengthened the determination of domestic tires to expand production capacity against the trend.
On the evening of September 4, the non-public stock offering plan disclosed by Guizhou Tire showed that the company intends to non-publicly issue stocks to no more than 35 targets including the controlling shareholder Guiyang Industrial and Commercial Investment, and the total amount of raised funds does not exceed 1 billion yuan.
Vietnam's annual production of 1.
2 million all-steel radial tires is to promote the implementation of the company's "dual base" development strategy and further expand overseas markets.
Vietnam's annual production of 1.
2 million all-steel radial tires is to promote the implementation of the company's "dual base" development strategy and further expand overseas markets.
As a domestic tire "going out" *, Linglong Tire comprehensively upgraded the "5+3" strategy to the "6+6" strategy in March this year, that is, China and overseas plan to build six production bases.
The layout of the production base will help enhance the flexibility and mobility of the company in accepting orders, and promote the overall coordination, scientific deployment and rational operation of the company's overall industry.
The layout of the production base will help enhance the flexibility and mobility of the company in accepting orders, and promote the overall coordination, scientific deployment and rational operation of the company's overall industry.
While Linglong Tire is accelerating the construction of its second overseas production base-Serbia production base, on April 15th, the company's 5th production base and the seventh production base-Jilin Linglong's 14.
2 million tire intelligent production project was in Changchun.
After the project is completed, 12 million semi-steel radial tires, 2 million all-steel radial tires and 200,000 retreaded tires can be realized annually after the project is completed.
2 million tire intelligent production project was in Changchun.
After the project is completed, 12 million semi-steel radial tires, 2 million all-steel radial tires and 200,000 retreaded tires can be realized annually after the project is completed.
Sailun Tire also disclosed in this year’s semi-annual report that in the first half of the year, the company actively promoted the construction of related projects.
The Dongying plant’s semi-steel radial tire expansion project, the Shenyang plant’s all-steel radial truck tire project progressed as planned in the first half of the year, and the Vietnamese plant’s semi-steel radial tire project.
The first tire of the tire expansion project has also officially rolled off the assembly line.
The smooth progress of these projects has laid the foundation for the company to better meet customer needs.
The Dongying plant’s semi-steel radial tire expansion project, the Shenyang plant’s all-steel radial truck tire project progressed as planned in the first half of the year, and the Vietnamese plant’s semi-steel radial tire project.
The first tire of the tire expansion project has also officially rolled off the assembly line.
The smooth progress of these projects has laid the foundation for the company to better meet customer needs.
2.
China's tire industry is becoming more concentrated
2. China's tire industry is becoming more concentrated
China's tire industry is becoming more concentrated
Looking at the tire market, Bridgestone, Michelin and Goodyear* rank among the top three in the tire industry, with a combined market share of 38.
6%.
At present, domestic tires represented by Linglong tires are in the third echelon.
In March of this year, Linglong Tire’s China* Development Strategy Plan pointed out that it will strive to achieve the production and sales of 160 million tires and sales revenue of over 80 billion yuan by 2030, and the scale of production capacity will be among the top five in the world.
6%.
At present, domestic tires represented by Linglong tires are in the third echelon.
In March of this year, Linglong Tire’s China* Development Strategy Plan pointed out that it will strive to achieve the production and sales of 160 million tires and sales revenue of over 80 billion yuan by 2030, and the scale of production capacity will be among the top five in the world.
The impact of the epidemic on the tire industry will undoubtedly provide domestic tires with a good opportunity to "overtake on corners".
Western Securities pointed out that overseas head tire companies all suffered substantial losses in the first half of the year.
Domestic head tire companies represented by Linglong Tire have obvious cost advantages and product cost-effective advantages, which will penetrate the fragile production organizations and production organizations of overseas tire companies.
Cost defense line, continue to increase market share.
Western Securities pointed out that overseas head tire companies all suffered substantial losses in the first half of the year.
Domestic head tire companies represented by Linglong Tire have obvious cost advantages and product cost-effective advantages, which will penetrate the fragile production organizations and production organizations of overseas tire companies.
Cost defense line, continue to increase market share.
At the same time, due to the impact of the epidemic and the decline of the domestic auto market, the concentration of the domestic tire industry is also rapidly increasing.
Soochow Securities pointed out that the current domestic tire industry is showing a structural surplus.
With the advancement of supply-side reforms, small and medium-sized production capacity is gradually cleared out.
The domestic market is in the process of concentrating on top tire companies.
Chinese tire companies are expected to grow from large to strong.
, Will further increase market share in the future.
Soochow Securities pointed out that the current domestic tire industry is showing a structural surplus.
With the advancement of supply-side reforms, small and medium-sized production capacity is gradually cleared out.
The domestic market is in the process of concentrating on top tire companies.
Chinese tire companies are expected to grow from large to strong.
, Will further increase market share in the future.
In this context, the ranking of domestic tires is continuously improving.
Take Linglong Tire as an example.
In the ranking of “Top 34 Tire Companies in 2020”, Linglong Tire jumped from 17th to 14th, and ranked 9th on the list of “Valuable Tire Brands in 2020”, becoming the Chinese tire on the list.
Brand.
Take Linglong Tire as an example.
In the ranking of “Top 34 Tire Companies in 2020”, Linglong Tire jumped from 17th to 14th, and ranked 9th on the list of “Valuable Tire Brands in 2020”, becoming the Chinese tire on the list.
Brand.
3.
The performance of listed companies in the first half of the year was gratifying
3. The performance of listed companies in the first half of the year was gratifying
The performance of listed companies in the first half of the year was gratifying
In the first half of the year, affected by the new crown pneumonia epidemic, the downward trend of the domestic automobile market further intensified.
According to data released by the China Automobile Association, in the first half of 2020, domestic automobile production and sales were 12.
132 million and 12.
323 million vehicles, down 13.
7% and 12.
4% year-on-year, respectively.
The overall automobile production and sales are operating at a low level, which is lower than that of the China Automobile Association at the beginning of the year.
expected.
According to data released by the China Automobile Association, in the first half of 2020, domestic automobile production and sales were 12.
132 million and 12.
323 million vehicles, down 13.
7% and 12.
4% year-on-year, respectively.
The overall automobile production and sales are operating at a low level, which is lower than that of the China Automobile Association at the beginning of the year.
expected.
In this context, the downstream tire industry has also suffered heavy losses.
According to data released by the country*, the output of rubber tires in China in the first half of 2020 reached 357 million (356.
978 million), a year-on-year decrease of 12.
1%.
However, industry differentiation has further intensified, and industries such as Linglong Tire have grown against the trend.
While revenue has declined slightly, net profit has grown substantially against the trend.
According to data released by the country*, the output of rubber tires in China in the first half of 2020 reached 357 million (356.
978 million), a year-on-year decrease of 12.
1%.
However, industry differentiation has further intensified, and industries such as Linglong Tire have grown against the trend.
While revenue has declined slightly, net profit has grown substantially against the trend.
Note: The production growth rate in 2018 was -11.
9%.
9%.
Among them, Linglong Tire achieved operating income of 8.
244 billion yuan in the first half of the year, down 0.
80% year-on-year; net profit attributable to shareholders of listed companies was 897 million yuan, an increase of 23.
64% year-on-year.
Linglong Tire resumed work and production in an orderly manner.
In the first half of the year, it produced 28,505,400 tires and sold 27,095,000 tires.
The overall performance of production and operation was better than expected.
244 billion yuan in the first half of the year, down 0.
80% year-on-year; net profit attributable to shareholders of listed companies was 897 million yuan, an increase of 23.
64% year-on-year.
Linglong Tire resumed work and production in an orderly manner.
In the first half of the year, it produced 28,505,400 tires and sold 27,095,000 tires.
The overall performance of production and operation was better than expected.
It is worth mentioning that 2020 is the first year of Linglong Tire's new retail.
Through the joint development of a smart marketing platform with Tencent Cloud and Huazhi Intelligent, the company is striving to create a new retail model that combines online and offline.
In the first half of the year, the company's sales in the domestic retail market increased by 35% year-on-year, domestic retail sales of all-steel tires increased by approximately 49% year-on-year, and domestic sales of semi-steel tires increased by approximately 28%.
Through the joint development of a smart marketing platform with Tencent Cloud and Huazhi Intelligent, the company is striving to create a new retail model that combines online and offline.
In the first half of the year, the company's sales in the domestic retail market increased by 35% year-on-year, domestic retail sales of all-steel tires increased by approximately 49% year-on-year, and domestic sales of semi-steel tires increased by approximately 28%.
In addition, Sailun Tire achieved revenue of 6.
798 billion yuan in the first half of the year, a decrease of 4.
15% year-on-year; the net profit attributable to shareholders of listed companies reached 635 million yuan, a year-on-year increase of 25.
26%.
Triangle Tire achieved revenue of 3.
861 billion yuan in the first half of the year, a decrease of only 0.
57% year-on-year; the net profit attributable to shareholders of listed companies reached 456 million yuan, an increase of 21% year-on-year.
798 billion yuan in the first half of the year, a decrease of 4.
15% year-on-year; the net profit attributable to shareholders of listed companies reached 635 million yuan, a year-on-year increase of 25.
26%.
Triangle Tire achieved revenue of 3.
861 billion yuan in the first half of the year, a decrease of only 0.
57% year-on-year; the net profit attributable to shareholders of listed companies reached 456 million yuan, an increase of 21% year-on-year.
For more data sources and analysis, please refer to Qianzhan Industry Research Institute "China Tire Industry Market Demand Forecast and Investment Strategic Planning Analysis Report".
At the same time, Qianzhan Industry Research Institute provides industrial big data, industrial planning, industrial declaration, industrial park planning, and industrial investment promotion.
Solutions such as investment attraction.
At the same time, Qianzhan Industry Research Institute provides industrial big data, industrial planning, industrial declaration, industrial park planning, and industrial investment promotion.
Solutions such as investment attraction.
(Source: China Securities News Cui Xiaosu-Tires welcome the opportunity of "curving overtaking")
Original Title: Market Analysis of China's Tire Industry in 2020: Linglong Tire's performance has grown against the trend, and the overall market concentration has increased rapidly
