Changan Automobile scores 225.6% year-on-year hike in 2020 net profit

Shanghai (Gasgoo)- Chongqing Changan Automobile Automobile Co., Ltd. (Changan Automobile) gained 84.566 billion yuan ($13.014 billion) throughout 2020 in operating revenue, representing a year-on-year growth of 19.79%, according to the automaker's annual financial results.

During the reporting period, Changan Automobile saw its full-year net profit attributable to shareholders soar 225.6% from a year earlier to 3.324 billion yuan ($511.573 million). Nevertheless, excluding the impact of certain non-recurring gains and losses, the company still faced a net loss of 3.25 billion yuan ($500.144 million).

Besides, the new cash flow arising from operating activities in 2020 surged 175.03% year over year to 10.676 billion yuan ($1.643 billion) and the basic earnings per share stood at 0.68 yuan.

Changan Automobile sold roughly 2.004 million vehicles in 2020 with a year-over-year growth of 14%. Since its launch in June, the monthly sales of the UNI-T, the first product of the premium car series UNI, were standing above 10,000 units. The CS75 PLUS was posting monthly sales of over 15,000 units for nine consecutive months, boosting the full-year sales of the CS75 series to exceed 267,000 units. The automaker also sold more than 10,000 Eado Plus sedans per month since its launch at the end of March.

As for the new products released last year, the company has been working hard to strengthen the creation of both classic products and premium models. The Eado Plus, which went on sale in March, was well received by the market with the presale orders topping 10,000 units within 16 days. The UNI-T hit the market in June 2020, and the UNI-K, as the second model of UNI series, was unveiled at the Auto Guangzhou 2020. Changan Automobile's high-end product Vision-V was officially released at Beijing auto show. Represented by the CS55 plus blue whale and the Ruicheng CC blue whale, Changan's "blue whale family" models are recognized by more and more users with the annual cumulative sales surpassing 0.9 million vehicles.