JMC’s net profit reaches RMB 644 million in first three quarters

Shanghai (Gasgoo)- On October 26, Jiangling Motors (hereinafter referred to as JMC) released the report of the third quarter. The report shows that in the third quarter, the revenue of JMC is RMB 6.769 billion, an increase of 5.45% year over year. The net profit attributable to shareholders of listed companies is RMB 91 million, falling 76.7% compared with the same period of last year; in the first three quarters, JMC’s revenue reach RMB 22.435 billion, an year-on-year increase of 30.21%. The net profit of the same period attributable to shareholders of listed companies is RMB 644 million, decreasing 41.15% year on year.

The report shows that the decrease of net profits in the third quarter is mainly caused by the change of sales structure and the increase of R & D and selling expenses.

In the first three quarters, the sales of JMC are a total of 221,408 units, an increase of 19.99%.  The sales of truck are 75,574 units while the sales of JMC brand pickup are 49,570 units; JMC delivered 33454 SUVs while the sales of Ford commercial vehicles reaches 38,331 units and the sales of JMC brand light passenger car are 20179 units; in the export market, the volume is 4,300 units of Transit.