Harmony Group turns loss into profits in 2017 with net profit reaching RMB 1.018 billion

Shanghai (Gasgoo)- China Harmony New Energy Auto Holding Limited (Harmony Group) reported a YoY revenue growth of 1.4% to RMB 10.84 billion, according to its 2017 financial results. What's more, the company earned net profit of RMB 1.018 billion, soaring 32.2% over the previous year. The net profit attributable to the owner of its parent company reached about RMB 1.009 billion in 2017 while it suffered a loss of RMB 370 million in 2016. It gained basic earnings per share of RMB 0.66 last year.

By the end of Dec. 31, 2017, the group gained annual sales of 25,917 units, up 5.3% year on year. Among them, sales of BMW (including Mini brand) reached 21,019 units, taking up 81.1% of its total sales. Lexus brand posted a YoY surge of 30.6% to 2,512 units.

The group owns 53 dealership stores, covering 13 luxury and ultra-luxury brands, which include BMW, Mini Cooper, Lexus, Jaguar, Land Rover, Volvo, Zinoro, Alfa Romeo, Ferrari, Maserati, Rolls Royce, Aston Martin and Bentley. Currently, it has 21 to-be-constructed or under-construction dealership stores.