JAC Group scores 40% jump in net profit in 2021

Beijing (Gasgoo)- In 2021, local automaker JAC Group managed a 40% jump in net profit, compared to the previous year, according to its 2021 annual financial report released on March 25th.

Photo credit: JAC Motor

In the past year, the auto group’s revenue amounted to RMB40.21 billion ($6.32 billion), notching down 6.11% year over year. In the meantime, its net profit attributable to shareholders summed up to RMB200 million ($31.44million), jumping 40.24% from a year ago. JAC Group recorded a net operating cash flow of RMB1.72 billion ($271.1 million) over the year.

In 2021, JAC Group sold a total of 524,200 units of vehicles and chassis, representing a 15.63% increase compared to a year earlier. With 134,000 units sold, the group’s new energy passenger vehicle sector scored a 169% year-over-year increase, realizing a total sales income of RMB3.749 billion ($589.29 million). The group’s annual export volume summed up to 73,600 vehicles, more than doubled from a year ago.  

According to the report, JAC Group will continue its intelligent and new energy vehicle development. Meanwhile, the automaker is branching out its business operation to auto parts, automotive financial service, automobile logistics, and other added business, creating its own ecosystem within the industry.

By doing so, JAC Group aims to sell 568,000 units of vehicles and chassis in 2022, with a year-over-year increase target of 8.36%. The projected annual revenue will amount to RMB450 billion ($70.73 billion), growing 11.63% from 2021.