China's mainstream listed car companies reported "achievement" large exposure

Editor's note: Since August, the mainstream domestic car companies have successively released their respective performance reports for the first half of the year. Although the withdrawal of auto purchase tax incentives and the cyclical downward trend of the auto market have given people a shot at prevention, the industry can also be rational. It is predicted that most of the transcripts submitted by car companies will not be “pretty”, but the decline in the performance of individual car companies is still eye-popping, which has also caused the industry to discuss the profitability and operating methods of some car companies. This article is Gasgoo.com's domestic partial listing of car companies in the first half of the report, so stay tuned!

In the first half of the year, Shanghai Automotive achieved an operating income of 183.87 billion yuan and net profit of 8.576 billion yuan, an increase of 46.09% year-on-year.

According to the semi-annual report released by Shanghai Automotive, in the first half of 2011, Shanghai Automotive achieved a total operating revenue of 183.877 billion yuan, a year-on-year increase of 24.56%, and a net profit attributable to shareholders of listed companies of 8.576 billion yuan, a year-on-year increase of 46.09%. The reason for the company's profit growth was mainly due to the increase in profitability of the company’s joint-venture vehicle companies compared with the same period of last year, and the increase in investment income due to the expiration of investment by the finance company.

It is reported that in the first half of the year, Shanghai Automotive achieved a total sales volume of 2.005 million vehicles, a year-on-year increase of 12.9%, a growth rate 9.3% higher than the national average, and a 1.5 percentage point increase in domestic market share compared to the end of last year. In the first half of the year, the gross profit margin of the company's automobile manufacturing segment was 19.73%, which represented a slight increase in the gross profit margin of 19.07% in the same period of last year. In terms of passenger vehicles, Shanghai Volkswagen and Shanghai GM increased significantly, and their own brand sales have shown negative growth since April. Among commercial vehicle companies, the performance of mini-vehicles, heavy-duty trucks, and light passengers is good, but the growth of buses and light trucks is weak.

Great Wall Motor achieved operating revenue of 13.669 billion yuan in the first half of the year, and realized profit of 1.812 billion yuan, up by 109% from the same period of last year.

According to the semi-annual report released by Great Wall Motor, in the first half of 2011, Great Wall Motor achieved operating revenue of 13.669 billion yuan, an increase of 49.8% over the same period of last year, and a profit of 1.812 billion yuan, an increase of 109% over the same period of last year. In addition, let the car peers envy the Great Wall Motor's gross profit margin. According to the report, the gross profit of Great Wall Motor in the first half of the year was 3.172 billion yuan. Great Wall Motor stated that the increase in gross profit of the company was mainly due to the increase in sales revenue from strong sales growth. At the same time, the increase in the gross profit margin of its car business, the scale efficiency of sales growth, and the company’s ability to continuously enhance the premium quality of the brand led to the increase. The increase of gross profit.

It is reported that in the first half of the year, Great Wall Motor achieved a total sales of 218,200 vehicles, an increase of 47.3% over the same period of last year, of which domestic sales were 187,100, an increase of 47.7% year-on-year, and 31,200 automobiles were exported, and the export volume increased by more than 50% from the same period of last year. .

Jiangling Motors achieved operating revenue of RMB 9.222 billion in the first half of the year and net profit of RMB 1.079 billion, an increase of 3.53% year-on-year

According to the semi-annual report released by Jiangling Motors, in the first half of 2011, Jiangling Motors achieved operating revenue of RMB 9.222 billion, up 20.14% year-on-year; net profit of RMB 1.079 billion, up 3.53% year-on-year; consolidated gross profit margin of 24.17%, down 1.89% year-on-year. percentage point. The main reason for the year-on-year decline in gross profit margin is twofold: First, in light of the overall downturn in the light truck market, the price of light trucks in Jiangling Motors fell sharply in the first quarter, which directly led to a drop in gross margin; second, Jiangling Motors paid business tax and surcharges in the first half of the year. 263 million yuan, an increase of 130 million yuan year-on-year, which greatly affected the company's profitability in the first half of the year.

It is reported that in the first half of the year, Jiangling Motors achieved sales of 88,300 vehicles, a year-on-year increase of 65.7%. Among them, the sales volume of Ford brand commercial vehicles was 25,200 units, an increase of 77.53% year-on-year; the sales volume of JMC brand trucks was 34,100 units, an increase of 50.77% year-on-year; the sales of JMC brand pickup trucks and SUVs were 20.9 million units, an increase of 76.04% year-on-year.

In the first half of the year, Changan Automobile realized operating revenue of 14.537 billion yuan and net profit of 1.040 billion yuan, a year-on-year decrease of 23.89%.

According to the semi-annual report released by Changan Automobile, in the first half of 2011, Changan Automobile achieved operating income of 14.537 billion yuan in the first half of the year, a year-on-year decrease of 12.57%, of which net profit attributable to shareholders of listed companies was 1.040 billion yuan, a year-on-year decrease of 23.89%; The basic earnings per share is 0.22 yuan. The decrease in profitability of the company was mainly due to the increase in the proportion of investment income from joint ventures as a percentage of consolidated net profit; the decline in the profitability of independent brands, and the decline in overall sales volume of the company and the increase in raw material costs. Gross profit margins fell sharply.

It is reported that in the first half of the year, Changan Automobile achieved a total of 925,000 vehicle sales, a year-on-year decline of 5%, including Chongqing Changan, Chang'an, Hebei, and Chang'an, Nanjing, which were down 16%, 20%, and 16.8% year-on-year, respectively. The joint ventures Changan Ford, Changan Suzuki and the joint venture Jiangling Holdings have all experienced positive growth in varying degrees.

Geely Automobile achieved operating income of 10.538 billion yuan in the first half of the year, net profit of 938 million yuan, an increase of 21.33% year-on-year

According to the semi-annual report released by Geely Automobile, in the first half of 2011, Geely Automobile achieved operating revenue of 10.538 billion yuan, up 14% year-on-year. Net profit was RMB 938 million, up 17% year-on-year. Earnings per share of 0.12 yuan. The reason for the company’s earnings growth was mainly due to the significant reduction in non-cash expenses that benefited from this year’s share options.

It is reported that in the first half of the year, Geely Automobile achieved a total vehicle sales of more than 21,333,000 vehicles. Although the proportion of the Group’s annual target sales of 480,000 vehicles was only 44%, it still grew by 9% year-on-year. Geely's domestic sales increased by 6% to 199,000 units, while exports rose by 93% to 13,400 units.

FAW Cars achieved operating revenue of 19.080 billion yuan in the first half of the year and net profit of 804 million yuan, a year-on-year decrease of 39.87%.

According to the semi-annual report released by FAW Car, in the first half of 2011, FAW Cars achieved a total operating income of 19.08 billion yuan, an increase of 6.53% year-on-year; a net profit of 804 million yuan, a year-on-year decrease of 39.97%; earnings per share of 0.4938 yuan. The reason for the decline in corporate profits was mainly due to changes in the market and resources expected by FAW Car in the first half of the year, with the tightening of national financial and monetary policies, intensified inflation, the withdrawal of automobile incentive policies, rising oil prices, and restrictions on the purchase of Beijing. The growth rate of the domestic passenger car market has dropped sharply; due to factors such as price declines, rising costs and depreciation, the company’s profitability in the first half of the year has declined.

It is reported that in the first half of the year, FAW Cars achieved sales of over 142,000 vehicles, and car sales increased by 9.6% year-on-year, but the revenue was only increased by 6.5%. In addition, FAW Car has also thrown out a total of six projects with a total investment of 3.5 billion yuan, including investment in an annual output of 30,000 A130 hatchbacks and an annual output of 80,000 Chinese FAW D009 projects, with an annual output of 30,000. The M platform J31 project, as well as the power center capacity expansion project and the construction of the quality assurance center, have further aggravated the worries of the industry and institutions that FAW Car may be “losing” in the third quarter of this year.

JAC's operating income was 17.438 billion yuan in the first half of the year, net profit was 499 million yuan, up 2.2% year-on-year

According to Jianghuai Automobile's semi-annual report, in the first half of 2011, Jianghuai Automobile's operating income was 17.438 billion yuan, an increase of 7.91% year-on-year; net profit was 499 million yuan, a year-on-year increase of 2.2%. Earn 0.39 yuan per share.

It is reported that in the first half of the year, Jianghuai Automobile achieved 268,100 complete vehicle sales, an increase of 10.07% year-on-year, of which 80,800 were sales of cars, an increase of 29.79% year-on-year; and 17,400 heavy-duty trucks were sold, an increase of 34.09% year-on-year. The year-on-year increase of sedan and heavy truck was higher than the average growth rate of the subdivision industry, becoming the two highlights of the subdivision models in the first half of the year. The weak growth of MPV products has dragged on the growth of profit margins.

Dongfeng Motor achieved operating income of 111.13 billion yuan in the first half of the year and net profit of 295 million yuan, a year-on-year decrease of 22.97%.

According to the semi-annual report released by Dongfeng Motor, in the first half of 2011, Dongfeng Motor achieved an operating income of 111.13 billion yuan, a year-on-year increase of 14.8%. Among them, the net profit attributable to the shareholders of the listed company was 294.5 million yuan, a decrease of 22.97% year-on-year; the earnings per share was 0.1473 yuan. The reason for the decline in profitability of the company was mainly due to the rapid increase in prices of raw materials (mainly tires) in 2011, while the continuous increase in labor costs, high logistics costs, and the first half of the Ministry of Communications' “fuel limit” announcement cost and other factors will affect the company’s total Annual returns have a certain impact.

It is reported that in the first half of the year, Dongfeng Motor achieved sales of 167,000 vehicles, a year-on-year increase of 12.8%. Among them, sales of light trucks were 120,000, up 2.8% year-on-year, 1.1% higher than the light-card industry, ranking second in sales; MPV sales were 21,000, up 80.3% year-on-year; sales rose to the fourth in the industry; passenger cars and chassis Sales were 12,000 units, up 12.0% year-on-year; micro-card sales were 9,000 units, an increase of 163.9% year-on-year; SUVs were sold 0.5 million units, down 9.2% year-on-year. Sales of diesel engines were 132,000 units, an increase of 10.6% year-on-year, which was 10.6% higher than that of the diesel engine industry.

BYD Motor achieved operating income of RMB22.545 billion in the first half of the year and net profit of RMB275 million, a year-on-year decrease of 88.63%

According to the semi-annual report released by BYD Auto, in the first half of 2011, BYD Group realized operating income of 22.545 billion yuan, a decrease of 11.4% over the same period of the previous year, and a profit of 395 million yuan in the first half of the year, of which net profit attributable to shareholders of the listed company was approximately 275 million yuan. Yuan, a decrease of 88.63% over the same period of last year. Basic earnings per share was 0.12 yuan, a year-on-year decrease of 88.68%. The major reasons for the drastic decline in the company's profitability were mainly due to factors such as the cancellation of domestic automobile-related preferential policies, intensified market competition, and delays in orders for single largest customers of handset parts and assembly businesses. In addition, rising labor costs and raw material costs in China are also factors.

It is reported that in the first half of the year, BYD Group's auto business revenue decreased by 26.51% year-on-year to 9.546 billion yuan, gross profit margin dropped 10.73 percentage points to 16.18%, the market share of self-owned brands declined for the first time, market share fell 2.96% year-on-year; The assembly services business grew steadily. Revenue rose 3.25% to 9.513 billion yuan, gross profit margin fell 0.72 percentage points to 12.01%; secondary rechargeable battery business revenue rose 18.68% to 2.424 billion yuan, but solar energy with relatively low gross margins The proportion of product revenue has increased.

FAW Xiali achieved operating income of 5.458 billion yuan in the first half of the year and net profit of 0.46 billion yuan, down 84% year-on-year

According to the semi-annual report released by FAW Xiali, in the first half of 2011, FAW Xiali achieved operating income of 5.458 billion yuan, up 11.81% year-on-year, of which net profit attributable to shareholders of listed companies was 0.46 billion yuan, down 84% year-on-year. . The company’s basic earnings per share for the first half of the year was RMB 0.0289. The major reason for the company's profit decline was mainly due to the fact that the earthquake in Japan during the reporting period affected the production of Tianjin FAW Toyota Motor Co., Ltd., in which 30% of FAW Xiali had a share, resulting in a significant drop in investment income.

It is reported that in the first half of the year, FAW Xiali produced a total of 147,100 cars, a year-on-year increase of 17.27%, and sold 140,600 cars, an increase of 12.47% year-on-year. The company's share of FAW-Toyota sales of cars totaled 197,000 vehicles, a decrease of 16.2% year-on-year; net profit of 1.49 billion yuan, a year-on-year decrease of 42.9%.

Guangqi Changfeng achieved operating income of RMB 2.592 billion in the first half of the year and net profit loss of RMB 21 million, a year-on-year decrease of 115.51%.

According to the semi-annual report released by GAC Changfeng, in the first half of 2011, GAC Changfeng realized operating revenue of 2.592 billion yuan, a year-on-year decrease of 20.19%, and the net profit attributable to owners of the parent company was -0.21 billion yuan, that is, the loss of Guangzhou Automobile Changfeng 0.21 in the first half of the year. Billion yuan, a year-on-year decrease of 115.51%. Basic earnings per share -0.04 yuan, weighted average return on net assets -0.89 yuan. The reasons for the decline in profitability of the company are: (1) sales of the company’s products have declined; (2) rising yen exchange rates and increased vehicle configuration have led to rising costs; (3) losses in management costs and asset impairment compared to the same period last year An increase of 0.18 billion yuan and 27 million yuan.

It is reported that in the first half of the year, GAC Group intends to absorb the merger of GAC Changfeng by means of share swaps. After the completion of the conversion and absorption merger, GAC Group will continue to undertake and undertake all assets, liabilities, business, personnel, contracts and all other rights of GAC Changfeng as the surviving company. And obligations. On June 24, 2011, approved by the State-owned Assets Supervision and Administration Commission of the State Council, it agreed in principle that GAC Group's initial public offering of A-shares and share swaps will be incorporated into the company's plan.