BYD, Great Wall achieve about 20% growth respectively in revenue and net profit in H1 in China

Gasgoo.com (Shanghai September 6) - Shadowed under the macroeconomic downturn and fund outflow in the auto market, profit gap in the first half of this year among automakers widened in China.Dongfeng and BYD, JAC, the Great Wall bucked up, while FAW Car, CAMC and China National Heavy Duty Truck Group suffer in the adverse situation. Those surging companies generally achieved good gains in the new energy automobile market, which made alternative fueled vehicles a key factor in profit disparity among automakers.

SAIC gains incremental profit

SAIC Group achieved revenue of 323.6 billion yuan in the first half, up 1.13% on a year-on-year basis. Net profit attributable to shareholders of listed companies reached 14.2 billion yuan, increasing 4.36% compared with the same period of last year.

In terms of whole vehicle sales, handling well with market pressure, SAIC kept the overall stagnant growth, minimal increase in passenger cars, decline in commercial vehicles. Vehicle sales of SAIC reached of 2.862 million vehicles in the first half, equaling last year's same period. In specific, 2.334 million units sold in passenger cars, an increase of 1.7% on a year-on-year basis. Commercial vehicles sold 528,000 units, down 6.6% compared with the same period of last year. Market share reached 23.4%, up 0.4 percentage points on a year-on-year basis.

Jianghuai Automobile achieves explosive growth

Jianghuai Automobile reported the first half net profit of 537 million yuan, up by as much as 31.79 percent on a year-on-year basis. According to first-half vehicle sales data, cumulative sales of the automaker reached 160,100 units, an increase of 1.02 times compared with the same period of last year.

JAC’s achievement is partly contributed by the hot sell of the newly launched SUV Refine S3, which sold in the first half 91,856 units, surging 8.90 times than the same period of last year. With the new Refine S5 successful listing as well as S2, the company has further completed its SUV product line.

BYD Take off on surging alternative fueled vehicles

BYD also erupted in profits this year as Great Wall did, making lots of money on alternative fueled vehicles. BYD's revenue in the first half of 2015 reached about 31.582 billion yuan, an increase of 18.2% on a year-on-year basis. Net profit attributable to shareholders of listed companies was 467 million yuan, increasing 29.385 compared with the same period of last year.

Revenue on automobiles and related products in the first half was about 17.729 billion yuan, up 40.19% on a year-on-year basis. New energy automobile business income increased by about 1.2 times from a year earlier to about 5.976 billion yuan, accounting for 18.92% of the group’s overall revenue.

BYD's market share in the field of new energy vehicles reached to 29.8%. In terms of passenger vehicles, BYD " Qin " EV continues to take champion position in

alternative fueled vehicles sales in Chinese auto market. For January to July,the accumulative sales of " Qin " reached 20,500 units, an increase of 2.2 times compared with the same period of last year.

BYD's traditional oil fueled vehicles have maintained a relatively steady growth in the first half, with sales rising 13.98% to about 210,000 vehicles from a year earlier.

FAW Car slumped 48% in net profit

FAW Car has released recently half year fiscal report that revenue dropped 13.39 percent from a year earlier to 13.8 billion yuan in the first half. Net income attributed to the shareholders of listed companies slumped 48 percent from the same period of last year to 164 million yuan, and net profits belong to the shareholders of listed companies excluding non-recurring profit and loss was 150 million yuan, down 51.75 percent from a year earlier.

FAW Car has released recently half year fiscal report that revenue dropped 13.39 percent from a year earlier to 13.8 billion yuan in the first half. Net income attributed to the shareholders of listed companies slumped 48 percent from the same period of last year to 164 million yuan, and net profits belong to the shareholders of listed companies excluding non-recurring profit and loss was 150 million yuan, down 51.75 percent from a year earlier.

Coach/Bus Manufactures

Shenyang Jinbei Automotive achieved operating income of 2.26 billion yuan in the first half, down 16.87% from a year earlier with net profit attributable to parent company of the owner of 11.87 million yuan.

Shenyang Jinbei Automotive is now facing a severe conditions of acute declines in vehicle production and sales in the first half and sales down 18.8% to 37,600 vehicles as well.

In coach market, Yutong Bus has kept its revenue and profit growth despite the overall recession.

First half operating income of Yutong Bus was 10.387 billion yuan, up 10.42% from a year earlier. Net profit attributed to shareholders of listed companies reached 946 million yuan, up 15.35% on a year-on-year basis. Yutong’s upturn in fiscal situation was mainly due to the surge in the field of alternative fueled vehicles. The same is true of Anhui Ankai Bus.

The difference stands in that Ankai Bus’s revenue fell in the first half of this year while profits soared. Operating income was 1.722 billion yuan, down 23.47% compared with the same period of last year. Net profit attributable to shareholders of listed companies was 30.2891 million yuan, up 171.84% from a year earlier .

CAMC achieved operating income of 2.291 billion yuan in the first half, down 24.65 from a year earlier. Net profit attributable to shareholders of listed companies was a loss of 220 million yuan, down 343.08% from a year earlier.

China Heavy Duty Truck’s operating income reached 10.339 billion yuan in January - June, down 15.50% from a year earlier. Net profit attributable to the parent company reached 178 million yuan, declining 37.25% compared with the same period of last year.

Despite sales fell, Dongfeng automobile achieved profits doubling. Semi-annual operating income was 7.802 billion yuan, down 13% compared with the same period of last year. Net profit vested in the parent company of 236 million yuan, increased 1.22 times compared with the same period of last year.