Changan forecasts profit up over 200%

Changan Automobile (000625), has recently issued a notice, forecasting its 2006 net profit will increase more than 200% over 2005.

Calculated on 2005 net profit of 236 million Yuan Changan, The Company’s net profit in 2006 will be more than 708 million Yuan. From the first half year of the income and profits constitute pattern in 2006, Changan Ford Mazda has become a major source of profit. Changan Ford sales in the first half of 2006 with an increase of 162.82%, Changan's total sales revenue from 29.58% to 17.29% in the first half of 2005. The net profit contribution ratio increased from 28.33% in the first half of 2005 to 80.28%.

According to the forecast, Changan Ford Mazda in 2006 will realize a net profit of about 1.2 billion -13 billion. In addition, 51% of the Changan Automobile Holdings of Changan Suzuki achieved a sales volume of 11.2 million in 2006. The net profit about 180 million can be realized.