Changan Automobile projects 189%-259% YoY soar in H1 net profit

Beijing (Gasgoo)- Chinese automaker Chongqing Changan Automobile Co., Ltd. ("Changan Automobile") forecasted glowing numbers in its business performance during the first six months of 2022, the auto group announced on July 14th.

Photo credit: Changan Automobile

During the reporting period from Jan.1st to Jun.30th, Changan Automobile projects a drastic year-over-year surge in its net profit attributable to shareholders as well as after non-recurring deductions. The company attributed the performance boost to its up-rising brand image, continuously improving product structure, and elevated profitability among its proprietary brands.   

Specifically, the automaker predicts that its net profit attributable to shareholders may amount to RMB5 billion-RMB6.2 billion ($741 million-$919 million) in the first half of 2022, skyrocketing 189.14%-258.54% from the year-ago period. 

Meanwhile, its net profit after non-recurring deductions should stand at RMB2.5 billion-RMB3.5 billion ($370.5 million-$518.7 million), indicating a possible 237.95%-373.13% soar compared to a year earlier. 

In addition, in June, Changan Automobile sold 207,430 vehicles, increasing 19.87% from a year ago. In the first half of 2022, the automaker’s cumulative sales volume amounted to 1,125,764 vehicles, notching down 6.25% year on year. In 2022, the automaker sold 84,958 wholly-owned-branded new energy vehicles by the end of June, skyrocketing 127.26% compared to the earlier year.