Gasgoo (Shanghai, November 1)—The passenger vehicle market has a steady sales volume in the previous three quarters, with the soaring financial performances for listed auto companies, in which SAIC Group ranks first with a net profit of RMB 23.09b But FAW car has a deficit of RMB 825m, ranking bottom of all listed auto companies.
According to data, 24 listed auto companies all achieve increases in both revenues and net profits, with total revenue of RMB 949b and net profit of RMB 51.2b, increasing 14.1% and 19% respectively. 16 companies’ performances are better than last year, accounting for 60%, the average net profit ratio of which is 5.4% and increases 0.2 percentage points with the same period of last year.
Self-independent brand leader Chana has an excellent performance, achieving operation revenue of RMB 53.6b and increasing 11.4%. Its net profit increases 14.8% to RMB 7.74b, ranking second and lower than SAIC group. Besides, its net profit ratio reaches 14.4%, mainly influenced by its large growth of auto sales.
SAIC Group has revenue of RMB 523.9b in previous three quarters, increasing 11.5%. Its net profit achieves RMB 23.1b, increasing 8.6%. The growths of revenue and net profits are both lower than the average number of all listed auto companies.
Benefited from the rapid growth of alternative energy vehicles, BYD has revenue of RMB 72.8b in the previous three quarters of 2016. Its net profit increases 86.8% to RMB 6.66b.
Among all declining performances, the net profits of Jin Bei auto, King Long Auto and FAW car faced deficits, in which FAW car has a loss of RMB 716m in the previous quarters. The main reason is that the increasing domestic passenger vehicle market pushes the price to drop, resulting the decreasing sales volume and revenues. Besides, Jiangling Motors, Lifan Auto and Dongfeng Auto all decrease 30% in net profits.
