In the first half of 2010, SAIC Iveco Hongyan Commercial Vehicle Co., Ltd. (hereinafter referred to as Shang Yihong) achieved a total tax revenue of RMB 111.54 million, an increase of RMB 113.99 million over the same period of last year, including a value-added tax of RMB 118.27 million. There was no value-added tax income during the same period last year. The realized withholding tax was 1.27 million yuan, a year-on-year decrease of 70.33% and a reduction of 3.01 million yuan.
From January to June, Shangyinhong produced 17,111 commercial vehicles, a year-on-year increase of 47.04% and an increase of 5,474 units; a total of 17,421 commercial vehicles were sold, an increase of 70.76% year-on-year, an increase of 7,219 units; the current sales revenue was 383.311 million yuan, a year-on-year increase. 63.29%, an increase of 1485.1 million yuan.
The situation of Shangyinhong’s booming production and sales in the first half of the year has brought about a significant increase in tax revenues. However, from the perspective of the macroeconomic trends and the operating laws of the enterprises in the second half of the year, companies will face greater pressure on operations and sales. The tax revenue situation is not optimistic.
First, there are many uncertainties in the Chinese economy in the second half of 2010. Domestic demand has led to fatigue, investment has slowed down, inflationary expectations have increased, uncertainties in the global economic situation have caused China’s macroeconomic situation to be more complex, will reduce the demand for commercial vehicles by enterprises, and bring greater pressure.
Second, the Chinese auto industry has shown a downward trend. According to the latest data released by the China Association of Automobile Manufacturers, from January to May, the cumulative production and sales of commercial vehicles were 1,864,600 and 1,475,500, respectively, an increase of 47.92% and 54.04% over the same period of last year, but in May, commercial vehicle production was 36.20. Ten thousand vehicles, an increase of 34.36% year-on-year, a decrease of 17.93% month-on-month; sales of 308,900, an increase of 45.52%, a decrease of 21.76%. The data shows that the commercial vehicle market has been slowly declining, coupled with the continuous weakening of the policy of encouraging consumption in the second half of the year, such as purchase tax reductions, autos going to the countryside, trade-in replacements, and so on. It is expected that there will be no significant increase in auto consumption in the second half of this year.
Third, the peak season for sales in the commercial vehicle industry has already passed, and there is a significant decline in sales in the second half of the year. The sales season of commercial vehicles is traditionally from March to June each year. Since January this year, distributors have been more optimistic about the full-year auto market expectation. In addition, last year's continuous warming has kept their inventory at a low level, and they are generally stocked in advance to make the season high. in advance. In addition to relying on the peak season, the situation of Yihong’s booming production and sales in the first half of the year is also related to sales promotion methods such as credit sales and installment payment. In the second half of 2010, it will be difficult to maintain high sales volume, and will show “high before and after lowâ€. "The trend.
Fourth, the competition in the commercial vehicle industry is fierce, and the development of enterprises is facing greater pressure. Driven by the country’s 4 trillion investment, the commercial vehicle market has turned to full recovery and competition has become fiercer. At present, there are a total of 100 commercial vehicle manufacturers in China, but the top ten companies in sales rank 70% of the market. In addition to not having a dominant market share, Shang Yihong still has a lot of room to increase R&D and increase brand influence in terms of productivity and new product investment. If companies do not have the conditions to adapt to fierce competition, it will be difficult. In the commercial vehicle market share "a cup of soup."
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