中国重汽(000951)：公司发布2024年报 业绩增长超预期

Core Viewpoint - The company reported strong financial performance for 2024, with significant growth in revenue and net profit, driven by robust sales in the heavy truck segment, particularly in new energy vehicles [1][2][3]. Financial Performance - The company achieved operating revenue of 44.929 billion yuan, a year-on-year increase of 6.80%, and a net profit attributable to shareholders of 1.48 billion yuan, up 37.04% year-on-year [1]. - In Q4 2024, the company recorded revenue of 11.342 billion yuan, with year-on-year and quarter-on-quarter growth of 0.32% and 23.5%, respectively [1]. - The gross profit margin for 2024 was 8.7%, an increase of 0.83 percentage points year-on-year, while the net profit margin was 4.2%, up 0.76 percentage points year-on-year [2]. Sales and Market Position - The company sold 133,000 heavy trucks in 2024, a 4% increase year-on-year, outperforming the heavy truck industry [1]. - The market share of the company reached 27.2% in 2024, an increase of 1.5 percentage points year-on-year, solidifying its position as the industry leader [3]. - The company ranked second in the market for natural gas heavy trucks with a market share of 23.6% and fourth in the new energy heavy truck segment with a market share of 9.5% [3]. Future Outlook - The heavy truck industry is expected to experience an upward cycle over the next three years, with the company poised to benefit as the industry leader [3]. - Projected revenues for 2025-2027 are 54.2 billion, 60.9 billion, and 68.4 billion yuan, representing year-on-year growth rates of 21%, 12%, and 12%, respectively [3].