Gasgoo Daily: Foton Motor projects around 64% YoY decrease in H1 2022 net profit

With Gasgoo Daily, we will offer daily important automotive news in China. For those we have reported, the title of the piece will include a hyperlink, which will provide detailed information.

Foton Motor projects around 64% YoY decrease in H1 2022 net profit

Chinese commercial vehicle Foton Motor is likely to see its net profit attributable to shareholders plunge around 64% year on year to roughly 218 million yuan ($32.39 million) in the first half of 2022.

Photo credit: Foton Motor

Haima Automobile likely to record net loss up to 120 million yuan in H1 2022

Haima Automobile today said it was likely to face a net loss of 80 million yuan ($11.886 million) to 120 million yuan ($17.829 million) in the first half of 2022.

All-new Hongqi H5 to hit market on July 26

The all-new Hongqi H5 has already arrived at dealerships and will hit the market on July 26.

BYD's H1 2022 net profit forecasted to soar 138.59%-206.76% YoY

BYD Company Limited ("BYD") announced on Thursday its net profit attributable to shareholders was anticipated to reach 2.8 billion yuan to 3.6 billion yuan ($416.017 million-$534.879 million) in the first half of 2022, surging 138.59% to 206.76% from the year-ago period.

WM Motor boasts 62.2% YoY surge in H1 2022 deliveries

WM Motor delivered 21,738 vehicles in the first half of 2022, according to the EV startup's press release, quoting the registrations offered by the China Automotive Technology & Research Center ("CATARC").

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

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.

Ningbo Shanshan expects to post 111%-124% YoY spike in H1 2022 net profit

Chinese lithium battery materials supplier Ningbo Shanshan Co., Ltd. (“Shanshan”) said this week its net profit attributable to shareholders was forecasted to reach 1.6 billion yuan to 1.7 billion yuan ($237.724 million-$252.582 million) in the first half of 2022 (“H1 2022”), surging 111% to 124% compared to the same span in 2021.

SGMW announces foray into HEV field

SAIC-GM-Wuling (“SGMW”), General Motors' joint venture with Chinese partners SAIC Motor and Guangxi Automobile Group, on July 14 announced its foray into the HEV (hybrid electric vehicle) field by virtue of its advantages in the integrated ecosystem of NEV core component supply chain and the in-house development capability of batteries, electric control units, and chips.

Neusoft Reach, UAES jointly develop China-made automotive software solution

China's leading automotive software developer Neusoft Reach joined hands with UAES, a Bosch joint venture in Shanghai, for automotive software solution advancement on July 13th.