Changan's net profits grow 49% in 2012

Gasgoo.com (Shanghai April 18) - Changan Automobile has just released its 2012 financial performance review, the Securities Daily reported today. According to the review, the manufacturer's net profits totaled 1.45 billion yuan ($232.65m) last year, representing year-on-year growth of 49.43 percent. Its total business returns for the year reached 29.46 billion yuan ($4.72b), 10.96 percent higher than 2011's figure. Changan's stock was valued at .31 yuan ($.049) per share.

Changan, along with its subsidiary companies, manufactured and sold respective total of 1.74 million automobiles and 1.76 million automobiles in 2012, slightly higher than figures from the previous year. The manufacturer's share in the Chinese market in 2012 was 9.1 percent, nearly identical to its market share from the previous year. Changan ranked as the country's fourth best performing own brand manufacturer for the year.

The manufacturer's two joint ventures–Changan Ford and Changan Suzuki–respectively reported earning net profits of 3.2 billion yuan ($513.44m) and 112 million yuan ($17.97m) last year. The former's net profit figure represented positive year-on-year growth of 21.83 percent, while the latter's represented a drop of 40 percent.

Meanwhile, sales of own brand Changan sedans totaled 231,000 units last year, growing 12.87 percent from 2011. A number of new own brands models were released last year, including the Honor microvan (pictured above), Eado sedan (pictured below) and CS35 SUV.

Changan's sales goal for this year is set at 1.97 million automobiles, which is 13 percent higher than its 2012 sales figure and is estimated to bring in 131.5 billion yuan ($21.09b) in total income. The manufacturer is quite optimistic in its dealerships' abilities to sell more vehicles this year.