五菱汽车二零二四年中期报告

INTELLIGENCE INNOVATION GLOBAL AND INTERIMREPORT 五菱汽车集团控股有限公司 (IncorporatedinBermudawithlimitedliability) GROWANDINSPIREWITH LIMITLESS （于百慕大注册成立之有限公司） 2024 香港联交所股份代号 CORPORATEPROFILE WulingMotorsHoldingsLimited(“WulingMotors”orthe“Company”)anditssubsidiaries(collectivelyreferredtoasthe“Group”)areprincipallyengagedinthebusinessesoftradingandmanufacturingofcommercialvehiclesassembly,automotivecomponentsandvehicles’powersupplysystems,withourprinciplesubsidiariesbeingrecognisedasHigh-TechEnterprisesinChina.OurGroup’scorporategoalistograspthetremendousbusinessopportunitiesarisingfromtherapidlygrowingglobalautomobilesupplychainindustry,withourmainproductionfacilitieslocatedinLiuzhou,Qingdao,Chongqing,Jingmen,Nanning,IndiaandIndonesia. 公司简介 五菱汽车集团控股有限公司（“五菱汽车”或“本公司”）及其附属公司（统称“集团”或“本集团”）的主要业务为从事商用整车、汽车零部件及汽车动力系统之销售及制造业务，其中主要附属公司已获认可为中国之高新技术企业。本集团以把握全球汽车产业链市场迅速发展所带来的重大商机为集团的经营发展目标，主要制造设施设于柳州、青岛、重庆、荆门、南宁、印度及印度尼西亚。 GROUPSTRUCTURE 集团架构 DRAGONHILL 俊山 65.80% 13.36% 10.81% GUANGXIAUTOMOBILE 广西汽车 56.54% WULINGMOTORSHOLDINGS 五菱汽车控股 00305.HK 60.9% WULINGNEW 12.34% 39.1% ENERGY(Note) 五菱新能源 （附注） WULINGINDUSTRIAL 五菱工业 VEHICLES’POWERSUPPLYSYSTEMS 汽车动力供应系统 AUTOMOTIVECOMPONENTSANDOTHERINDUSTRIALSERVICES 汽车零部件及其他工业服务 COMMERCIALVEHICLESASSEMBLY 商用整车 Note：ThepercentageofshareholdinginterestsinWulingNewEnergyarecalculatedbasedonthefullypaid upsharecapitaloftheGroup’sassociate,LiuzhouWulingNewEnergyMotorsCompanyLimited(“WulingNewEnergy”)ascontributedbytherespectiveshareholdersasof30June2024. 附注：本集团联营公司柳州五菱新能源汽车有限公司 （“五菱新能源”）持股百分比乃按截至二零二四年六月三十日五菱新能源各股东全部缴足股本计算。 WULINGMOTORSHOLDINGSLIMITED>INTERIMREPORT2024 五菱汽车集团控股有限公司>二零二四年中期报告 CONTENTS目录 2 MESSAGESFROMTHEBOARDOFDIRECTORS 董事会致辞 12 MANAGEMENTDISCUSSIONANDANALYSISBYMAINBUSINESSSEGMENTS 管理层讨论及分析主要业务分部 VEHICLES’POWERSUPPLYSYSTEMS 汽车动力系统 AUTOMOTIVECOMPONENTSANDOTHERINDUSTRIALSERVICES 汽车零部件及其他工业服务 COMMERCIALVEHICLESASSEMBLY 商用整车 35DISCLOSUREOFINTERESTS权益披露 40OTHERINFORMATION其他资料 43REPORTONREVIEWOFCONDENSEDCONSOLIDATEDFINANCIALSTATEMENTS 45CONDENSEDCONSOLIDATEDSTATEMENTOFPROFITORLOSS 46CONDENSEDCONSOLIDATEDSTATEMENTOFPROFITORLOSSANDOTHERCOMPREHENSIVEINCOME 47CONDENSEDCONSOLIDATEDSTATEMENTOFFINANCIALPOSITION 49CONDENSEDCONSOLIDATEDSTATEMENTOFCHANGESINEQUITY 50CONDENSEDCONSOLIDATEDCASHFLOWSTATEMENT 52NOTESTOTHECONDENSEDCONSOLIDATEDFINANCIALSTATEMENTS 简明综合财务报表审阅报告简明综合损益表 简明综合损益及其他全面收益报表 简明综合财务状况表简明综合权益变动表简明综合现金流量表简明综合财务报表附注 86CORPORATEINFORMATION公司资料 MESSAGESFROMTHEBOARDOFDIRECTORS 董事会致辞 PREFACE WeherebypresenttheunauditedresultsofWulingMotorsHoldingsLimited(the“Company”,togetherwithitssubsidiaries,collectivelythe“Group”)forthesixmonthsended30June2024. Theyear2024isacriticalyearfortheaccomplishmentoftheobjectivesandtaskssetoutinthe14thFive-YearPlanandanimportantyearfortheGroup’sstrategyoftransformationandupgradingaswellashigh-qualitydevelopment.Amidintensifiedmarketcompetitionandeconomicdownturn,theGroupimplementedthebusinessstrategyof“StabilisingGrowth,EnhancingEffectivenessandExploringNewHorizons”,andinnovativelydrovethetraditionalindustrieswithcompetitiveedgetomovetowardtothemiddleandhighendoftheindustrialandvaluechains,coupledwiththetransformationandupgradingtodigitalization,intelligentizationandgreenness,soastopromoteitshigh-qualitydevelopmentandgivebacktoitsshareholders. Giventheaboveunfavorablefactors,theGroup’stotalrevenueforthesixmonthsended30June2024amountedtoRMB3,946,324,000,representingadecreaseof22.5%ascomparedwiththecorrespondingperiodin2023.ThiswasmainlyduetothedecreaseoftherelatedrevenueofthecommercialvehicleassemblydivisionasaresultoftheGroup’srepositioningstrategyonrefittedvehiclessincethesecondhalfof2023,andthedecreaseinbusinessvolumeofthevehicles’powersupplysystemsdivisionbecauseofdelaysinclientorders.Meanwhile,thebusinessvolumeoftheautomotivecomponentsdivisionmaintainedasteadygrowth,benefittingfromitsstrategyofacquiringnewclients. GrossprofitfortheperiodunderreviewwasRMB425,824,000.Despitethedecreaseintotalrevenueduringtheperiod,theGroupcanstillmaintainthesamelevelofgrossprofitascomparedwiththecorrespondingperiodin2023.Inadditiontopositivefactorssuchasadropinpricesofrawmaterialslikesteel,thestartofmassproductionofcertainproductswithhighgrossmarginsalsocontributedtoasignificantimprovementingrossmargin.TheGroup’sgrossprofitmarginforthefirsthalfof2024was10.8%,representinganincreaseofapproximately270basispointsascomparedwith8.1%forthesameperiodof2023. 前言 我们谨此提呈五菱汽车集团控股有限公司（“本公司”连同其附属公司统称“本集团”）截至二零二四年六月三十日止六个月之未经审核业绩。 二零二四年是实现“十四五”规划目标任务的关键一年，是本集团转型升级和高质量发展的重要一年。面对市场竞争加剧、经济下行等艰难的市场环境，本集团围绕“稳增长、提效益、开新局”的经营策略，创新推动传统优势产业向产业链、价值链中高端集聚，向数字化、智能化、绿色化转型升级，推动企业高质量发展，反馈股东作出不懈努力。 受制于上述各项不利因素的影响，本集团截至二零二四年六月三十日止六个月的总收入为人民币3,946,324,000元，较二零二三年同期减少22.5%。主要原因是本集团自二零二三年下半年起对改装车辆的重新定位策略导致商用整车分部的相关收入减少，同时汽车动力系统因客户订单有所延迟至业务量呈现下降外，汽车零部件分部之业务量则受惠于拓展新客户之策略，在逆境下保持平稳增长。 回顾期内的毛利为人民币425,824,000元，尽管期内总收入减少，仍能维持二零二三年同期之水平。除钢材等原材料价格回落所带来的正面影响，较高毛利之若干产品遂渐增加量产亦有助毛利率的显着改善。本集团二零二四年上半年毛利率为10.8%，较二零二三年同期之8.1%，增长了约270个基点。 2 MESSAGESFROMTHEBOARDOFDIRECTORS 董事会致辞 Despitetheincreaseinthes