Sokon Industry Group Tries to Sell 420,000 units This Year for Establishing a Million-car Group

Shanghai, March 22nd, Gasgoo - The Chongqing-domestic famous listed company Sokon Industry Group released its 2016 annual report on March 19th that, the company achieves auto sales of 379,200 units in 2016 with a year-to-year growth of 36.7%. It also strives to achieve the operation revenue of RMB 23.6b with a year-to-year growth o f46%. Sales of finished vehicles reach 420,000 units with a year-to-year growth of 10.8%. It also tries to be a one-million-car-level competitive auto group in five years.

The announcement shows that during the reporting period, the company mainly operates on finished vehicles and engines, R&D, production, sales and services on auto parts. The main products on production and sale are sporting SUV, MPV, crossovers and commercial vehicles including Fengguang 580, Fengguang 370 and Fengguang 330. Sokon’s first independently developed Super City SUV Fengguang 580 was launched in Boao, Hainan Province, with sales exceeding 10,000 units for consecutive five months and reaching 86,700 units in half-year time.

Sokon also expresses that the company has met obvious enterprise transformation and products structure change in 2016. The total auto sales reach 379,200 units with a year-to-year growth of 36.7%. Influenced by finished vehicles’ growth, the engine and parts businesses also perform well. The company will continue to achieve enterprise transformation guided by products’ upgrade, promoting the strategy of developing alternative energy vehicles and forging a leading international BEV brand.

It also plans to raise funds of RMB 700m to its wholly-owned subsidiary Jinkang Alternative Energy Vehicle Company, in aim to promote the future developments of alternative energy vehicle business. It’s learned that Sokon obtained the 8th national alternative energy vehicle license plate. According to plan, the high-end and middle-end BEV will be put into mass production in June and January of 2019 respectively.