Face the risk to enhance confidence face up to the difficulties - the first quarter of small and medium-sized motor industry economic operation summary

The Industry Statistics Department of the Small and medium-sized motor branch summarized, collated and analyzed the statistical data of 58 motor manufacturing enterprises in the country.

In the first quarter, the operating income of industrial enterprises above designated size increased by 2.3% year-on-year, and the total profit increased by 4.3% year-on-year. The machinery industry achieved a year-on-year increase of 0.7% in operating income and a year-on-year decrease of 3.5% in total profit; The motor industry achieved operating income growth of 2.5%, the total profit growth of 11.3%, the motor industry operating income and total profit growth rate are higher than the national industrial and machinery industry level.

According to the chapter's closing enterprise data: most economic indicators declined year-on-year, operating income increased by 1.8% year-on-year, total profits fell by 14.0% year-on-year, and the industry's economic efficiency composite index fell by 9.5 percentage points year-on-year.

First, industry production and marketing

(1) the overall situation of the industry

In the first quarter, the total industrial output value was 16.49 billion yuan, the same as the same period last year, the industrial added value decreased by 2.8%, and the total output of 54.986 million kilowatts decreased by 4.7%.

2. Achieved sales revenue of 16.43 billion yuan in the first quarter, up 1.8% year-on-year.

(2) Enterprise situation

Of the 58 companies:

The total output of 32 enterprises decreased, accounting for 55.2% of the total enterprises, of which 15 enterprises had a decline rate of more than 20%. The sales revenue of 33 enterprises decreased, accounting for 56.9% of the total enterprises, and the sales revenue of 12 enterprises decreased by more than 20%. There are 32 enterprises motor income decline, accounting for 55.2% of the total number of enterprises, of which 12 enterprises motor income decline rate of more than 20%.

2. Total profits

In the first quarter, the industry achieved a profit of 800 million yuan, down 14.0% year-on-year.

(2) Enterprise Situation Of the 58 enterprises:

Forty-four companies made profits, accounting for 75.9 percent of the total. Among them, the profit of 22 enterprises decreased year-on-year, accounting for 37.9% of the total enterprises; The profits of 14 enterprises increased year-on-year, accounting for 24.1% of the total number of enterprises. Eight enterprises turned losses into profits, accounting for 13.8 percent of the total. Fourteen companies suffered losses, accounting for 24.1 percent of the total. Among them, 3 enterprises have reduced their losses, 6 enterprises have increased their losses, and 5 enterprises have entered losses. In this period, the total profit of 9 enterprises decreased by more than 10 million yuan year-on-year.

3. Export situation

(1) the overall situation of the industry

Export motor output 6.421 million kilowatts, down 3.1%; Export motor sales of 6.07 million kilowatts, down 2.2%; The export motor revenue was 1.62 billion yuan, up 10.5% year-on-year.

(2) Enterprise situation Among the 32 export enterprises:

There are 16 enterprises production decreased, accounting for 50%, of which 11 enterprises decline rate of more than 20%; Sales of 17 enterprises decreased year-on-year, accounting for 53.1%, of which 12 enterprises declined by more than 20%; There are 17 enterprises sales revenue decreased year-on-year, accounting for 53.1%, of which 12 enterprises decline rate of more than 20%.

4. Ending inventory, accounts receivable and payables

The ending inventory of the current period was 19.95 billion yuan, down 0.8% year-on-year, of which the finished goods inventory was 6.53 billion yuan, down 6.7% year-on-year; Total accounts receivable was 20.39 billion yuan, down 2.0% year-on-year; Total accounts payable was 17.54 billion yuan, up 2.4% year-on-year; Ending inventory and accounts receivable accounted for 53.1% of current assets, down 1.9 percentage points year-on-year.

5. Prices of main raw materials

The average purchase price of silicon steel sheet at the end of the first quarter of 2024 was 5941 yuan/ton, down 4.5% from the same period last year, and an increase of 1.5% from the end of the fourth quarter of 2023;

The average purchase price of electromagnetic wire at the end of the first quarter of 2024 was 77,448 yuan/ton, an increase of 3.6% compared with the end of the fourth quarter of 2023;

The average purchase price of carbon bonded steel at the end of the first quarter of 2024 was 4766 yuan/ton, down 4.8% from the same period last year, and unchanged from the end of the fourth quarter of 2023;

The average purchase price of aluminum ingots at the end of the first quarter of 2024 was 19,701 yuan/ton, an increase of 3.1% compared with the end of the fourth quarter of 2023, an increase of 1.9%;

The average purchase price of cast iron at the end of the first quarter of 2024 was 7399 yuan/ton, an increase of 1.1% year-on-year and an increase of 3.2% from the end of the fourth quarter of 2023.

6. Comprehensive index of economic benefits of the industry

The comprehensive economic benefit index of the current period was 235.1, down 9.5 percentage points year-on-year.

Among the seven indexes, the contribution rate of total assets of the industry decreased by 1.1 percentage points; The value added rate of industrial assets fell by 5.9 percentage points; Industry cost expense profit margin decreased by 1.0 percentage points; Total labor productivity decreased by 5080 yuan/person; The asset-liability ratio of the industry decreased by 0.7 percentage points;

Industry liquidity turnover is flat; The sales rate of industry products increased 2.9 percentage points.

In addition, according to the questionnaire survey of 69 enterprises in the motor industry：

Since 2024, the procurement prices of raw materials and spare parts have shown an increasing trend, but most enterprises said that the prices of finished goods remained stable or slightly decreased, squeezing the profit margin, and it is expected that the total operating income and profit in the second quarter will show a downward trend; At present, the main operating pressure of enterprises is still insufficient order quantity, rising raw material prices, tight working capital, difficult to recover the payment for goods, and difficult to recruit workers.

Global economic stability and development remain uncertain, and domestic economic development still faces many problems. We must face up to difficulties and have the courage to face up to risks and challenges. Enhance confidence, work hard on basic technology research, work hard on technological innovation, product innovation and service innovation, respond to market demand with high quality, lead the development of the industry with high standards, and promote the smooth operation of the industry and enterprise economy.