Beijing Benz likely to gain profits over RMB 11 bln in H1

Shanghai (Gasgoo)- According to Daimler's interim fiscal report, the profits of Beijing Benz Automotive Co., Ltd. (Beijing Benz) is likely to exceed RMB 11 billion during the first half of 2018, which can be calculated from Daimler's earnings in Beijing Benz.

Daimler gained earnings of 371 million euros (about RMB 2.934 billion) from Beijing Benz during the second quarter of this year, leaping 43.8% from a year ago. The earnings for the first half of this year reached 703 euros (about RMB 5.56 billion), jumping 28.28% over the previous year.

However, Daimler's earnings gained from BAIC Motor suffered decrease. In the second quarter, Daimler gained earnings of 14 million euros (about RMB 111 million) with a year-on-year decline of 26%, while its earnings during the first half of 2018 suffered a substantial year-on-year drop of 94.01% to RMB 17 million (about RMB 134 million).

Due to BAIC Motor's capital increase at the beginning of May, Daimler's equity in BAIC Motor decreased from 10.1% to 9.6%. This is one of the factors that resulted in Daimler's earning slide.

During the first half of this year, Beijing Benz delivered 346,000 vehicles with a year-on-year increase of 14%. Its net profit advanced 28.28% on an annual basis, signifying that the average profit of each vehicle was increased.