Gasgoo (Shanghai, October 11) There have been 1,395 new energy vehicles, on which Chongqing Lifan Passenger Vehicle Co., Ltd. Has applied for governmental subsidize of 114 million RMB, identified as ineligible by China's government, based on announcement of Chongqing Lifan Holdings Co., Ltd.
Fine on the company may lead to reduce by 46.89 million RMB in annual revenue and pre-tax profit in 2016 and reduce by 67.19 million RMB in annual revenue and pre-tax profit in 2016. Given net profit attributable to the listed company of the company was 177 million RMB in the first half, its net profit in 2016 may be influenced by the governmental fine. But, the governmental subsidize on alternative energy vehicles which have been sold will remain valid.
There has been only 13 units of green vehicles, with a yearly decrease of 95.02%, produced by the company in August. And there have been 2,483 units produced in 2016, with a yearly decrease of 47.7%. On the contrary, production of traditional vehicles have been 8,410 units in August, indicating that production shares taken up by green vehicles in the company have been only 0.15%.
