On the evening of April 14, Zhejiang Cfmoto Power Co.Ltd(603129) ( Zhejiang Cfmoto Power Co.Ltd(603129) ) disclosed that the financial report of 2021 showed that the company achieved an operating revenue of 7.861 billion yuan in 2021, an increase of 73.71% year-on-year; The net profit attributable to the shareholders of the listed company was 412 million yuan, a year-on-year increase of 12.78%. Meanwhile, the company plans to distribute a cash dividend of 8.30 yuan (including tax) to all shareholders for every 10 shares.
Zhejiang Cfmoto Power Co.Ltd(603129) said that the company has deeply cultivated its main business, adhered to the business philosophy of “two or four rounds go hand in hand and balanced development outside China”, and comprehensively combed, optimized and improved from the aspects of product planning, brand marketing, customer experience and after-sales service, ensuring the normal development of global business and continuous growth of performance. By product segment, Zhejiang Cfmoto Power Co.Ltd(603129) two wheeled vehicle, four wheeled vehicle, engine and accessories achieved operating revenue of 2.298 billion yuan, 4.879 billion yuan, 76.772 million yuan and 426 million yuan respectively in 2021, a year-on-year increase over the previous year.
In terms of all terrain vehicles, more than 90% of all terrain vehicles in China are exported to foreign countries. Among them, from 2014 to 2021, Zhejiang Cfmoto Power Co.Ltd(603129) all terrain vehicles accounted for 73.33%, 67.76%, 65.70%, 68.96%, 72.68%, 74.38%, 64.55% and 72.62% of China’s exports of similar products respectively. The export amount ranked first for many consecutive years, and the leading position of export was stable. It is reported that Zhejiang Cfmoto Power Co.Ltd(603129) the all terrain vehicle market share in the United States continues to increase, and the market share in Europe ranks first.
Zhejiang Cfmoto Power Co.Ltd(603129) believes that at present, China’s all terrain vehicle industry has stepped out of the era of vicious competition at low prices and began to occupy the market with quality and brand. Under the influence of factors such as the rental demand of tourist attractions, the development of professional events and the needs of special operations, all terrain vehicles, as leisure, sports and entertainment products, will usher in greater development space in China.
Compared with China’s all terrain vehicle market in its infancy, the growth potential of China’s consumer medium and large displacement motorcycles has emerged. According to the data of China Automobile Industry Association, the sales volume of motorcycles with a displacement of more than 250cc in China has increased from 7210 in 2011 to 333000 in 2021.
Zhejiang Cfmoto Power Co.Ltd(603129) is the first power product manufacturer in China to pursue driving fun. The company’s motorcycle products focus on medium and large displacement motorcycles. In recent years, Zhejiang Cfmoto Power Co.Ltd(603129) has stood out in China’s large displacement motorcycle racing track, and its product pedigree and displacement section have been continuously improved. The sales volume of straddle motorcycles greater than 250ml ranks among the top in the industry, accounting for 12.34% of the total industry in 2021, with an obvious leading position in the industry. Among them, 250nk and 250sr have created the champion of bicycle sales at the same level for consecutive years; Once the domestic maximum displacement adv model cf800mt is listed, the market is in short supply.
Zhejiang Cfmoto Power Co.Ltd(603129) believes that with the gradual decline of the impact of the epidemic and the gradual recovery of the global economy, the global all terrain vehicle and motorcycle market is expected to maintain stable growth; On the other hand, with the rapid improvement of the income level of Chinese residents, the middle class in China is gradually growing, the lifestyle is gradually upgraded, and the motorcycle tourism culture is becoming popular. In the future, the sales of all terrain vehicles and medium and large displacement motorcycles in China are expected to grow rapidly.
Zhejiang Cfmoto Power Co.Ltd(603129) said that relying on the professional technology and brand advantages accumulated in the field of all terrain vehicles and large displacement motorcycles, the company gathered strategic key points to accelerate the transformation of globalization, intelligence and electrification. The annual report shows that in Zhejiang Cfmoto Power Co.Ltd(603129) 2021, the annual R & D investment was 379 million yuan, a year-on-year increase of 60.35%, accounting for 4.82% of the operating revenue. It is worth mentioning that in the corresponding R & D projects in 2021, Zhejiang Cfmoto Power Co.Ltd(603129) completed two electric vehicle projects.
Zhejiang Cfmoto Power Co.Ltd(603129) pointed out that the acceleration of the electrification trend of small and medium displacement motorcycles, the demand for replacement brought by the implementation of the new national standard and the new demand brought by the rapid development of downstream application scenarios such as express delivery and takeout will promote the rapid development of the electric motorcycle industry. According to the data of China Automobile Industry Association, the production and sales of electric motorcycles in 2021 were 3.1714 million and 3.154 million, with huge market space.
Zhejiang Cfmoto Power Co.Ltd(603129) said that the company is accelerating the implementation of the dual line product strategy of new energy vehicles and fuel vehicles, and actively exploring new tracks in the electrification industry. Cforceev110 and the first electric motorcycle ae8 have been prepared one after another to create the third business growth curve of the company.
