Charging Pile Company Differentiation

- Nov 23, 2018-

Motor electronic control field will usher in a turn

Motor electric control companies mainly include Dadi, Zhonglian Nengchuang, Wei Te Electric, Depuda, Dewei Xinneng, Hengjiu Li, Ruiyang Technology, and Easy Control Electronics, and the overall operating conditions in the first half of this year good. The data shows that the eight companies achieved operating income of 760 million yuan in the first half of the year, down 15% year-on-year; net profit of -5.94 million yuan; and net profit of 120 million yuan in the same period last year, from profit to loss. Specifically, 6 of the 8 companies saw a decline in net profit and two increased.

In the first half of the year, the land and realized net profit of -19.31 million yuan, compared with 55.94 million yuan in the same period last year. The company mainly provides drive motor system products and services for new energy vehicles, including Dongfeng Motor, Jinlong Bus, Jiangling Motors and Haima Motor. The company said that due to factors such as the adjustment of subsidies policy for new energy auto industry and the renewed catalogue of new energy vehicles, the production and sales of new energy vehicles in the first half of the year were less than expected, which affected the company's sales and profits.

In the first half of the year, the operating revenue of Micro Motors decreased by 28.6% year-on-year, and the net profit decreased by 93.67%. The main reason is that the price of raw materials has increased by a large margin, while the new energy automobile industry has gradually adjusted over the previous two years, and it is difficult to increase the sales price of products.

In the first half of this year, the policies related to new energy vehicles were adjusted, which had a certain impact on sales volume and adversely affected the electronic control of the supporting motors. According to industry insiders, the impact of relevant policies is temporary and the direction of the industry is basically clear. The second half of the year is the peak season for sales of new energy vehicles. Production and sales are expected to grow, and the industry chain will usher in development opportunities. For example, Depot said that with the completion of relevant work, the arrival of the industry peak season, etc., the production and sales release period will enter the second half of the year, and operating income will increase significantly.

Charging pile company differentiation

Seven companies, including Guochong Charging, Chasing Electric and Hengrui Electric, are engaged in charging pile business. In the first half of this year, they achieved a total operating income of 966 million yuan, a year-on-year increase of 25%; net profit of 13.91 million yuan, a year-on-year decrease of 73%.

Specifically, four of the seven companies reported a year-on-year decline in net profit. Among them, Anhewei's operating income in the first half of the year increased by 15.71%, while net profit decreased by 603.6%. The company said that the gross profit margin of major engineering orders implemented in the first half of the year was lower than that of the same period of last year. At the same time, the company invested in the construction of production bases and the newly established new energy vehicle charging station investment and operation subsidiaries are still in the investment period, and have not yet generated revenue, depreciation of fixed assets, banks. Loan interest, marketing expenses and management fees increased significantly year-on-year, with losses in the first half of the year. In the first half of the year, the company achieved a net profit of 1.53 million yuan, a year-on-year decrease of 112.41%. The company said that due to the change in the delivery method of the customer from the State Grid Corporation, the delivery quantity in the first half of the year was less than the historical period and was not recognized as income during the reporting period, resulting in a decrease in operating income. The management expenses incurred in production operations have a certain monthly balance, resulting in a loss in net profit during the reporting period.

In the first half of the year, the revenue of Guochong Charging decreased by 1.27% year-on-year, mainly due to the impact of the policy. In the first half of the year, the overall energy electric vehicle industry grew slowly compared with the same period of last year; while the net profit increased by 166%. According to the company, since the second half of 2016, the company has adjusted its business to focus on the construction and operation of the charging station. The operating service revenue needs to accumulate for a certain period of time. It is expected that the profitability will appear in the second half of 2017.

Overall, the performance differentiation of charging pile companies is more obvious. Since the company has multiple businesses, the performance changes are more dependent on the combined impact of the various business combinations. In the medium and long term, the development of new energy vehicles requires the construction of a large number of charging piles. The potential space of the market is large, and the advantageous enterprises still face great development opportunities.


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