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While Shareholders of Beiqi Foton MotorLtd (SHSE:600166) Are in the Red Over the Last Year, Underlying Earnings Have Actually Grown
The simplest way to benefit from a rising market is to buy an index fund. But if you buy individual stocks, you can do both better or worse than that. That downside risk was realized by Beiqi
Cumulative sales of heavy trucks in the first half of the year increased by only 3%, and the market pressure will be very high in the second half of the year.
According to the First Commercial Vehicle Network, the heavy truck market sold a total of 0.5045 million vehicles from January to June 2024, which is at a medium level in the past five years (but the gap between sales in the first half of 2020, 2021 is very large, and it is less than half of the sales in the first half of 2021), an increase of 3% from the same period last year, with a net increase of about 0.016 million vehicles. The cumulative sales growth rate has been shrinking month by month (as shown in the figure). Looking at monthly sales, the sales volume of 0.0714 million heavy trucks in June is the second lowest in the first half of this year, which can only be ranked in the year 2023.
Beiqi Foton Motor (600166.SH): the highest mass-produced model of the company is L2+ automatic driving for heavy-duty trucks.
On July 10th, Glon Hui reported that Beiqi Foton Motor (600166.SH) disclosed its investor relations activity record, which showed that as early as 2016, Beiqi Foton Motor had released the first domestic autonomous driving truck and developed a full-platform autonomous driving vehicle based on scene and customer value. In 2018, it obtained the first commercial vehicle autonomous driving road test license in China. In 2019, Beiqi Foton Motor's autonomous driving light truck won the 'Life Care Award' in the first China (Shunyi) automatic emergency braking system (AEBS) test race. In 2021, it conducted the country's first actual high-speed highway platooning in the context of the Winter Olympics. 20
Beiqi Foton Motor (600166.SH): From January to May, the penetration rate of Foton Heavy Truck's automatic manual transmission has increased to 65%.
According to the investor relations activity record disclosed by Beiqi Foton Motor (600166.SH) on July 10th, 2023, the AMT penetration rate of commercial vehicles in China is approximately 24%. According to the domestic heavy truck invoicing data held by the company, the AMT penetration rate of the heavy truck industry was 32% from January to May in 2024. It is estimated that the penetration rate of automatic transmission in commercial vehicles will exceed 30% in 2024. From January to May in 2024, Foton's heavy AMT penetration rate increased to 65%, which was 33 percentage points higher than the industry average.
Beiqi Foton Motor's NEV Sales Jump 22% in January-June
Beiqi Foton Motor (SHA:600166) sold 19,980 new energy vehicles in the first six months of the year, 22.4% higher than 16,318 NEVs sold a year earlier, according to the company's disclosure on the Shan
Quick report on production and sales data for each product in June 2024
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