The Overview of the Profits of Some Domestic Motor Vehicles in the First Half of 2009


According to statistics from the China Association of Automobile Manufacturers, in July, the country’s total sales of automobiles were 1,086,600, an increase of 63.57% year-on-year, and production was 1,109,600, an increase of 52.15% year-on-year. As the production and sales of automobiles exceeded expectations, it is expected that the profits of the 19 key enterprise groups will achieve positive growth in the first 7 months, and the profitability situation will improve further in the first half of the year. Gasgoo.com has compiled the profitability of some companies in the first half of the year, with half of their profits and losses, and is only for the reference of those in the industry.

Dongfeng

First-half year-on-year growth of 10.57%

In the first half of the year, Dongfeng Motor sold 808,100 vehicles and achieved sales revenue of 107.26 billion yuan. It completed 57.7% and 53.6% of the annual budget respectively, achieving "half of the time and half of the tasks."

It is reported that from January to June, Dongfeng Passenger Vehicle sales of 607,000 vehicles, an increase of 27%, 1.4% higher than the industry growth rate; commercial vehicle sales 201,100, in the general decline in the industry, medium and heavy vehicles Back to the industry first, light trucks maintain the second industry. In the first half of the year, sales revenue increased by 7.95% year-on-year, and profits increased by 10.57% year-on-year, and profit growth was higher than sales revenue growth.

Changan Automobile

Profit in the first half of the year increased by 8.84%~22.17%

In the first half of the year, the performance forecast of Changan Automobile showed that sales of cars from January to June increased by 34.8% year-on-year, benefiting from various policies for the adjustment and revitalization of the automobile industry. The net profit for the first half of the year is expected to be 490-550 million yuan, an increase of 8.84%-22.17% over the same period last year.

FAW Xiali

Profit in the first half of the year or a year-on-year decrease of 40% - 50%

In the first half of the year, FAW Xiali produced and sold well. As of June 30, 2009, FAW Xiali had produced 103,953 cars in total and sold 111,361 cars. The output increased by 9.05% year-on-year, and the sales volume increased by 11.34% over the same period of last year. It is expected that FAW Xiali's net profit for the first half of 2009 will be between 50 million and 60 million, down 40% - 50% year-on-year.

Changhe Automotive

Expected to turn profit into profit in the first half of the year

According to an announcement released by Changhe Auto, it is expected that the first half of the year will turn a profit, and the 2009 interim results will be profitable.

Changhe Auto announced in its first quarterly report of 2009 on April 24, 2009 that the company’s accumulated net profit for the first half of the year may be a loss announcement. On May 27th, 2009, Changhe Auto's major asset restructuring passed the final approval of the China Securities Regulatory Commission. As of June 30, 2009, Changhe Automotive's main business was changed from automobile manufacturing to aviation lighting and control system manufacturing, etc. The operating results of the major assets reorganization plan, aviation lighting and control system manufacturing business in the first half of 2009 will be reflected in the company's interim results. Initially estimated by the company’s financial department, the company's 2009 interim results will be profitable.

Huachen

First-half net profit will be lost again

Brilliance Motors announced in a few days ago that it expects net profit will be lost again in the first half of this year. Brilliance explained in the announcement that due to the change in product structure, sales in the first six months of this year did not reach the level of break-even. In the first half of 2008, Brilliance’s net profit was 282.9 million yuan.

In the first half of this year, Brilliance’s main vehicle, Junjie, saw its sales decrease by 50% year-on-year, while its Zunchi sales dropped by nearly 60%.

SAIC

In the first half of the year, SAIC Motor’s total vehicle sales achieved 1.225 million units, of which Shanghai Volkswagen and Shanghai GM sold a total of 314,000 vehicles and 289,000 vehicles and continued to rank among the top three domestic passenger vehicle sales. The self-owned brands Roewe and MG achieved rapid sales growth and completed sales of 40,000 vehicles, an increase of 274.4% year-on-year, of which Roewe 550 models had monthly sales of more than 5,000 vehicles. In terms of mini vehicles, sales champion SAIC-GM-Wuling continued to maintain its leading position, achieving 525,000 vehicle sales, an increase of 49.2% year-on-year.

From January to March this year, Shanghai Automotive achieved a net profit of 627 million yuan, a year-on-year decrease of 49.46%.

China National Heavy Duty Truck

In the first half of the year, it achieved a net profit of about 160 million

In the first half of 2009, China National Heavy Duty Truck achieved a net profit of approximately RMB 160 million, representing a year-on-year decline of 50-60%. The performance was slightly lower than expected.

China National Heavy Duty Truck said in its interim results forecast that in the first half of this year, China National Heavy Duty Truck Group’s net profit was approximately RMB 160 million, and its basic earnings per share was approximately RMB 0.38. The reason for the change in performance is that due to the financial crisis, sales volume in the heavy truck industry in China has fallen sharply, sales of heavy trucks for heavy trucks have fallen, and competition in the industry has intensified, resulting in a squeeze in the profitability of CNHTC.

Jianghuai Automobile

Net profit of RMB 115 million in the first half of the year, a decrease of 31% year-on-year

JAC achieved operating revenue of 9.324 billion yuan in the first half of the year, an increase of 1.8% from 9.151 billion yuan in the same period of last year; net profit was 115 million yuan, a year-on-year decrease of 51.67 million yuan, a decrease of approximately 31%, which was higher than the expected decline of more than 50%. Have narrowed.

According to the data, Jianghuai Automobile sold a total of 83,600 vehicles in the second quarter, a year-on-year increase of 25.8%, while the first-quarter growth was only 1.1%. In the second quarter, sedan sales were 16,400, an increase of 496.5% year-on-year.

Foton Motors

Profit in the first half of the year increased substantially from the same period of last year

From January to May of this year, the profit of Foton Motor Co. has exceeded the level of last year, and the profit for the first half of the year has increased substantially compared with the same period of last year. This year's total profit will hit a record high.

From January to June, Foton Motor sold 287,000 vehicles, a year-on-year increase of 14.5%. Both sales volume and growth rate rank first in China's commercial vehicles.

Gold Cup car

First-half net profit is expected to be a loss

According to the announcement issued by the Jinbei Auto, it is expected that the net profit in mid-2009 will be a loss.

Jinbei Automobile stated that due to the impact of the global economic crisis in 2009, industry competition has intensified, resulting in a substantial decline in product sales profits, while investment income has not reached the expected target. In the same period of last year, Jinbei Automobile achieved a net profit of 74,944,000 yuan, and the earnings per share was 0.069 yuan.

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