Recently, major international tire companies have released their first three quarters of performance reports, "China Rubber" has compiled the performance of 10 large international tire companies and domestic A-share listed tire companies with detailed results, found that Chinese and foreign capital The operation of tire companies is in two directions. Most domestic enterprises are recovering, while the profits of international tire companies are seriously declining.
For the operating income, only half of the 10 large enterprises in the statistics showed a slight increase, the increase was no more than 4%, and the other five companies had different degrees of decline, the largest drop was the German horse (-11.10%). ).
According to the news released by China Rubber, the operating income of the nine tire companies listed on the A-share market is also mixed. There are four companies with lower revenues and five companies with revenue growth. The largest increase is GM shares (9.73%). , followed by Linglong tires (7.06%).
By integrating the performance of domestic and foreign tire companies, it may be possible to conclude that the operating income of tire companies in this fiscal year will not change too much. Under the influence of factors such as declining sales volume, overcapacity and high-quality product transformation in the downstream automobile industry, The development of the big tire company seems to have entered a low speed period.
According to the latest information, most tire companies have released news of product price increases, so the reason for the decline in operating income can only be two: the decline in production and operating rates, and poor product sales.
For domestic tire companies, the competitive pressure they face seems to have not been felt by international tire companies. Sino-US trade wars, frequent “double-reverse” investigations, and low visibility among consumers are all restricting the development of production and sales. Important factors, in addition, with the arrival of various provinces and cities on the industry's production capacity control regulations, the "stop production period" in autumn and winter, the efforts of national tire enterprises to achieve high-speed take-off are far greater than the foreign tire enterprises.
National enterprises are improving, and international companies are "worry"
For the operating profit item, the operating results of the major overseas tire companies are said to be “a terrible”. Among the 9 companies that publish detailed results, only Sumitomo Rubber and Cooper Tire have achieved growth, and the other 7 are different. The degree of decline, there are three declines more than double digits, the largest decline is Youke Haoma (-25.20%).
Moreover, the only two profit-producing companies have great moisture. The profits of Sumitomo Rubber and Cooper Tire last year have dropped sharply compared with previous years. That is to say, the profits of these two companies can only be said to be warming to normal levels. There is no big growth in performance.
Looking at the national enterprises, 6 out of 8 companies have grown, among which Fengshen tires have turned losses into profits in the third quarter. Guizhou Tire, Saiguan Jinyu and SJiatong have higher profit levels than the previous year. The increase in the magnitude, so the companies that ensure stable growth are actually two of the exquisite tires and GM shares, but the proportion of 3/4 can indeed make the conclusion that the industry continues to improve compared with the previous year.
Profitability, national enterprises do not lose them!
Operating profit margin, as the name implies, refers to the ratio of operating profit to operating income. This ratio reflects the profit level of the product and the ability of the enterprise to earn money. That is to say, the larger the ratio, the more bargaining power and competitiveness of the product. Strong, the company's profit margins are also larger.
The first place is the German horse, which is an impressive 21.30%, followed by Hankook Tire (10.90%) and Bridgestone (10.87%). Some industry insiders have said that the comparison of operating profit margins can be truly reflected. A company's product structure, product popularity and operating level and other aspects, in general, the higher the proportion of high-end and high-quality tire products, this ratio will follow the "water rise."
Looking at the domestic market again, some A-share listed tire companies have not announced operating profit, so the net profit rate is used instead of comparison here. (The net profit of the stock is the profit after deducting the relevant tax, generally less than the operating profit, here National enterprises are relatively disadvantaged. The top ones are Linglong Tires (8.00%), followed by Triangle Tires (5.96%) and Sai Lun Jin Yu (5.02%).
According to the above results, these three outstanding national enterprises have not lost to international big names in this project! Together with GM shares, the above four companies have exceeded or reached the level of Youke Haoma and Cooper tires. At the same time, Linglong tires can rank 6th among these large enterprises. It can be said that the profit level is first-class and very high. An internationally competitive tire company!
According to the previous report of "China Rubber", Shandong Province clearly stated in its published documents that it will support 4 tire companies that have sold over 10 billion yuan by 2020; by 2025, it will cultivate 8 enterprises with sales revenue of over 10 billion yuan. More than 2 billion yuan, 1 or 2 companies have entered the top 10 in the global tire industry. The provincial government of excellent enterprises will give maximum support to policies and funds.
Some people in the industry said that most of the national tire companies started later than the world's giants. Due to many factors such as market environment and national policies, there is still a huge gap between Chinese tire companies and the world's giants, but after decades of development. China has already produced a large number of excellent and highly competitive tire companies.
In the future, if our excellent tire enterprises can continue to develop steadily, make continuous breakthroughs in product quality, grasp the new strategy of transformation and upgrading, and keep up with market trends such as green development and intelligent manufacturing. I believe that catching up with the world tire giants is not only Just talk about it.
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