JMC posts RMB 690 million net profit in 2017, falling 47.65% year on year

Shanghai (Gasgoo)- Jiangling Motors Co., Ltd. (JMC) announced its 2017 operation revenue rose 17.69% year on year to around RMB 31.346 billion. It posted nearly RMB 127 million of operating profit, slumping 86.7% from a year earlier. Net profit attributable to shareholders fell 47.65% year on year to around RMB 690 million in 2017.

Last year, JMC sold 310,028 vehicles with a year-on-year growth of 10.32% which was far ahead of the annual year-on-year sales growth of 3.04% in China’s auto industry. The automaker still retained its leadership in light commercial vehicles’ segment. In 2017, 108,317 units of JMC truck were sold with a year-on-year growth of 5.85% and 72,205 units of JMC pickup were delivered, jumping 18.58% from a year earlier. However Jiangling Yusheng SUV suffered a year-on-year annual sales decrease of 21.94% to 29,151 units and commercial vehicles under Ford brand reached a sales volume of 52,981 units, dropping 19.08% compared with 2016.