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中國重汽(03808.HK):管理顯效 降本節支應對原材料漲價
格隆匯 09-01 13:54

2021年上半年,中國重汽(03808.HK)重卡以75.7%的銷量增速傲視羣雄,市佔率增幅也升至全行業第一位置。從公司披露的前六個月業績來看,中國重汽憑藉強有力的產品競爭優勢與優秀的管理水平,2021年上半年累計實現重卡銷售20.75萬輛;實現營業收入651.7億元,同比增長52.27%;實現歸母淨利潤36.2億元,同比增長23.19%。

優秀的管理水平,使得中國重汽有效抵禦原材料成本上漲,降本增效成效明顯。公開數據顯示,重卡生產所需的原材料價格今年上半年大幅上漲,生鐵、銅、熱軋卷等原材料價格漲幅達40%,ABS等複合材料價格漲幅則超過50%,對重卡整體生產成本造成較大影響。業內人士介紹,大宗商品漲價會帶動重卡全行業產品成本提升,簡單按照鋼材、銅等原材料漲價對整車的成本影響,單車成本提高應該在1.2萬元-1.5萬元。

據瞭解,中國重汽通過內部的整體人員的優化,結合“幹就負責、做就到位”的執行文化,實現了人力資本由“成本”向“資本”的轉變,提升了整體的效率;通過SAP的核算流程,整體運營更加科學規範;通過加強採購和生產環節成本控制等多項降本增效措施,成本控制效果顯著。在費用方面,財務數據顯示,銷售費用、管理費用和財務費用今年上半年也得到了有效控制,期間費用率整體下降近2%。其中,通過進一步的控制借款規模,降低資本成本,利息支出同比下降70.6%,財務費用同比下降57.9%。

財務數據看,今年上半年,中國重汽整體的運營質量也在穩步提升,運營效率持續遞增。今年上半年,存貨週轉天數加快了3天,應收賬款週轉天數加快23天。

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