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Changhong Huayi (000404.SZ): The gross margin of frequency conversion products is on average 1%-2% higher than that of fixed frequency products.
Changhong Huayi Compressor (000404.SZ) stated during an investor relations activity on August 14th that the gross margin for variable frequency products is on average 1-2% higher than that of fixed frequency products.
Changhong Huayi (000404.SZ): The 2024 operation goal is to ensure the production and sales of 75 million refrigeration compressors, striving for 77 million.
On August 14th, Gelonghui reported that Changhong Huayi (000404.SZ) stated in an investor relations activity that due to the tense situation in the Red Sea and the hoarding of channels, as well as multiple factors such as the old-for-new policy and local promotion of consumer activities, the demand for compressors was released ahead of schedule. In the first half of 2024, the total sales volume of the Chinese refrigerator compressor industry increased by 16.5% year-on-year. Given the overdrawn market demand in the earlier period, the industry generally expects market demand to decline in the second half of the year. However, the industry situation does not represent the actual operation of the company, and the company will strive to pursue performance higher than the industry average. The company's annual compound growth rate of ice pressure sales volume in the past three years is 9.3%.
Changhong Huayi compressor (000404.SZ): Jabei Mexico's overall production capacity plan is 4 million units, and a production line of 2 million units has been completed and put into operation at the end of last year.
Changhong Huayi Compressor (000404.SZ) announced on August 13, in order to further promote global strategy layout, expand the Americas market, deepen strategic cooperation with customers, effectively respond to overseas expansion of competitors, and stabilize the company's industry position, the company's subsidiary has set up GABE Mexico Company in Mexico. The total production capacity plan is 4 million units, and one 2 million unit production line has been completed and put into operation at the end of last year. Another 2 million unit production line is currently under construction and is expected to be put into operation by the end of this year.
Changhong Huayi (000404.SZ): The new energy autos air conditioner compressor products achieved a revenue of 1.7 million yuan in the first half of 2024, with a year-on-year growth of 41.76%, and a gross margin of 13.31%.
Changhong Huayi Compressor (000404.SZ) announced that in the first half of 2024, the revenue of new energy vehicle air conditioner compressors was 17 million yuan, a year-on-year increase of 41.76%, with a gross margin of 13.31%. The company's subsidiary, Weile Company, is currently in a growth stage and has a certain gap in scale, ability, and industry leadership. The company's requirements for the new energy vehicle air conditioner compressor business are to continue to practice internal skills, improve capabilities, expand the high-end market, and strive to achieve growth rate beyond the industry average, with no special requirements in terms of profits in the short term. Weile's main customers are SAIC-GM-Wuling and Dongfeng Yijie Te.
Changhong Huayi Compressor (000404.SZ): the main reason for the decline in compressor gross margin in the first half of 2024 is due to the long-term oversupply in the refrigeration industry.
Changhong Huayi (000404.SZ) announced that the gross margin of compressors in the first half of 2024 decreased mainly due to the long-term oversupply in the refrigeration industry, resulting in continued fierce price competition in the industry. Prices of bulk materials such as copper and aluminum have continued to rise. Meanwhile, due to the strong demand from customers in the first half of the year, the company worked overtime, which led to an increase in labor costs.
Changhong Huayi Compressor (000404.SZ): the company's ice pressure sales volume has a compound annual growth rate of 9.3% in the past three years, which is higher than the average growth rate of global industry by 1.2%.
Changhong Huayi Compressor (000404.SZ) announced that the company's annual compound growth rate of refrigerator compressor sales in the past three years was 9.3%, which is higher than the global industry's average growth rate of 1.2%. The company's 2024 operation target is to ensure the production and sales volume of refrigerator compressors at 75 million units, striving for 77 million units; the sales revenue is ensured to be 11 billion yuan, striving for 12 billion yuan. The company is striving to achieve its goals by increasing technological development, providing customers with technologically advanced and high-quality products, and strengthening pre-sales and after-sales services while deepening strategic cooperation with customers to stabilize the industry's declining demand.
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