Haima H1 net loss narrows

Beijing (Gasgoo)- Haima Motor’s revenue in the first half of this year jumped 48.35% from a year ago to RMB926 million ($143 million) and the net loss attributable to shareholders of the listed company dropped from RMB173 million ($26.7 million) to RMB83.04 million ($12.8 million), the company announced in a statement. The basic losses per share was RMB0.0505.

Haima 6P; photo credit: Haima

During the reporting period, the automaker produced 16,021 vehicles, representing a year-on-year surge of 229.79% while sales in the period jumped 153.39% versus the same period of last year to 16,544 vehicles, only 1,229 vehicles less than the total annual volume of last year.

Haima makes such vehicles as the 7X, the 8S and the 6P. The automaker is also the contract manufacturer of XPeng Motor, but both parties will not renew their contract manufacturing agreement which will terminate by the end of this year.    

In July, FAW Group sold its 49% stake in Faw Haima Automobile Co., LTD and its 50% in Hainan FAW Haima Automobile Sales Co., LTD to Hainan Holding company, a wholly state-owned comprehensive investment holding company established by Hainan Provincial government. After FAW Group’s withdrawal, two companies have changed its names to Hainan Haima Automobile Co., LTD and Hainan Haima New Energy Vehicle Sales Co., LTD.