Profit of Changan Auto for First Quarter 1.97 Billion CNY, 260% Strong Growth

Changan Auto has published its report for the first quarter of this year on night of 29 April. From Jan to March, the company has realized operating income of 12.19 billion CNY, which has increased 19.79% over last year. It has realized profit of 1.97 billion CNY, which has dramatically increased 265.57%. Earning for each share is 0.42 CNY.

Changan Auto says the investment income, operating income, total profit and net profit increase is contributed by its joint venture Changan Ford profit large growth. According to seasonally report, Changan Auto has realized investment profit by 2.07 billion CNY, which has increased 226.46% over last year.

According to research by analyst of a security, the first quarter market performance of Changan Auto may becomes the highest point for the whole year because of the low base of the first quarter market performance of last year. With the sales growth since the second quarter of last year, company marker performance growth shall slow down. However, Changan Auto shall introduce couple of star products into market in April, which shall be expected by market as well.

Changan Auto has published the progress of its Hefei Changan 100% share merging. Up to now, Changan Auto has finished all capital concerned and paper work registration by Industry and CommercialBureau. According to information, Changan Auto has announced that the company collects about 440 million CNY to merge the above shares by China Changan Group. It aims increasing capacity fast, and save capacity build lead-time cost. According to company plan, Hefeng Changan shall responsible for Changan Benben Mini, CX20 and Alsvin in the future, and it shall realize production and sales of 17 thousands, 78.4 thousand and 95.2 thousands in year 2014, 2015 and 2016 respectively.