14 listed car companies reported half a year's earnings: FAW Xiali lost nearly 700 million yuan

At the end of August, a number of domestic listed car companies rushed to publish the first half of the 2017 first-year performance report, which seems to be the final review of the new semester. From one version of the financial report released one after another, we can see that some people have earned enough money. Some people doubled their profits by playing capital for a second, and a large number of people worked hard for half a year and lost money. Buying and selling ... in the car companies, in the end who is happy to see who is the family? The following is a comparison of the net profit of the 14 auto companies that have been announced by Gasgoo for the first half of the financial report and the comparison of the sales volume for six months.

SAIC Group: still earning 16 billion yuan in net profit for the most half of the year

On August 29, SAIC Motor announced the 2017 semi-annual report. The financial report disclosed that in the first half of this year, the group achieved a total operating revenue of 396.046 billion yuan, a year-on-year increase of 12.85%; net profit increased 5.96% year-on-year to 15.958 billion yuan.

The report shows that in the first half of this year, SAIC Motor Group achieved sales of 3.175 million complete vehicles, a year-on-year increase of 5.8%, and the domestic market share reached 23%, an increase of 0.2% from the same period of last year; of which, passenger car sales were 2.759 million, an increase from the same period last year. 7.7%, commercial vehicle sales reached 415,000, which was affected by the continued sharp decline in the micro-customer market, which was a 5.8% year-on-year decline. The company achieved a total vehicle export and overseas sales of 64,000 units, a year-on-year increase of 44.4%, and vehicle export sales continued to rank nationwide. the first.

GAC Group: Growth of Independent Brands into Profits

On August 23, GAC Group released its semi-annual report. According to the data, GAC Group's total operating revenue for the first half of 2017 reached RMB 34.765 billion, which represented a significant increase of 62.23% over the same period of the previous year. The net profit attributable to shareholders of listed companies reached RMB 6.183 billion, a year-on-year increase of 55.29%.

Behind the sharp increase in net profit is its outstanding sales performance in the first half of the year. According to the data, Guangzhou Automobile Group achieved a total of 973,300 vehicles and 963,500 vehicles in the first half of the year, an increase of 30.78% and 31.65% respectively, which is higher than the average growth rate of the industry by approximately 26.14 and 27.84 percentage points. In particular, its own-brand sales in the first half of the year increased by 57.02% year-on-year to 250,900 units, which has become an important source of profit for the Group.

Dongfeng Motor Group: Steady increase in revenue/net profit

On August 28, Dongfeng Motor Group Co., Ltd. (hereinafter referred to as “Dongfeng Motor Group”) released its financial report for the first half of 2017. Report shows that Dongfeng Motor Group achieved revenue of 57.685 billion yuan in the first half of the year, an increase of 1.0%; net profit of 7.037 billion yuan, a year-on-year increase of 4.2%

Dongfeng Motor Group stated that the company’s revenue increase was mainly due to the unexpected performance of the commercial vehicle market. According to financial reports, in the first half of this year, thanks to Dongfeng Commercial Vehicle Co., Ltd., Dongfeng Liuzhou Automobile Co., Ltd. business growth, sales of commercial vehicles of Dongfeng Motor Group increased 48.7% over the same period last year (to 20.235 billion yuan) to 29.949 billion yuan. The passenger vehicle was subject to a decline in revenue from Dongfeng Peugeot Citroen Sales Co., Ltd. The sales revenue in the first half of the year decreased by RMB 26.3 billion to RMB 26.16 billion from the 35.79 billion yuan in the same period last year, representing a decrease of approximately 26.9%.

In terms of sales performance, from January to June this year, Dongfeng Motor Group sold a total of 1,471,300 vehicles, an increase of 3.5% year-on-year. Among them, commercial vehicles increased by 26.4% year-on-year to 221,400 units; passenger vehicles only increased by 0.3% year-on-year to 1,249,900 units.

Beijing Auto: Korean-based joint venture frustrated Mercedes-Benz

On August 29, Beijing Automobile Co., Ltd. ("Beiqi") issued its financial report for the first half of 2017. The report shows that the operating income of BAIC Motor in the first half of the year was RMB 66.737 billion, an increase of 36% year-on-year. The net profit was RMB 5.048 billion, a year-on-year increase of 14.2%.

During the reporting period, Beijing Automotive sold a total of 632,100 vehicles. Among them, sales of the Beijing brand (111,000 units sold in the first half of the year) and Beijing Hyundai (211,000 units sold in the first half of the year) were down 45.4% and 42.4% year-on-year respectively. Beijing Automotive said that due to the intensified competition in the domestic passenger car industry in the first half of the year and the overall downturn in the Korean car market, sales of Beijing brands and Beijing Hyundai declined, resulting in a decline in performance, which in turn led to a drop in the Group's profit.

According to another announcement, the main reason for the growth of Beiqi's revenue and net profit in the first half of the year came from the contribution of Beijing Benz. In the first half of this year, the sales volume of Beijing's Mercedes-Benz vehicles increased by 47.0% year-on-year to 211,000 units, which also brought about a 56.0% increase in Beijing-Benz's revenue to RMB58,313 million.

FAW Car: Earn 270 Million in the First Half of the Year

On the evening of August 29, FAW Car disclosed the semi-annual report. Data show that in the first half of 2017, FAW Car's revenue was 13.401 billion yuan, a year-on-year increase of 58%, and net profit was 270 million yuan, an increase of 132.74% from the loss of 826 million yuan in the same period of last year.

From January to June this year, FAW Cars achieved sales of 111,200 vehicles, an increase of 37.83% over the same period of last year. In the report period, the company said that during the reporting period, the company actively promoted the implementation of various business measures. By accelerating the launch of new products, it successfully launched the new Pentium X40, optimized its product layout, and improved its marketing capabilities, striving to improve its operating quality and efficiency. Turn losses into profits.

FAW Xiali: Model's aging net profit further declines

FAW Car also disclosed FAW Xiali during the first half of the financial report. According to the report, FAW Xiali’s revenue for the first half of this year was 623 million yuan, a 38% year-on-year decrease, and net profit loss was 686 million yuan, a loss of 519 million yuan from the same period of last year. It decreased by 32.17%.

In the face of further losses in profits, FAW Xiali said that the internal product structure adjustment has not yet been completed. Due to the aging and single structure problem of existing vehicles, from January to June this year, the total sales volume of FAW Xiali was only 11,500 units, a year-on-year decrease of 39.37%.

Changan Automobile: Profits from both sales and sales are also discounted

On August 30, Chongqing Changan Automobile Co., Ltd. (hereinafter referred to as Changan Automobile) released its 2017 semi-annual report. The report shows that from January to June 2017, Changan Automobile achieved operating revenue of RMB 33.555 billion, a year-on-year decrease of 6.27%; the average operating income of the automotive industry grew by 11.58%; and the net profit attributable to shareholders of listed companies was RMB 4.621 billion, which represented a year-on-year decrease. 15.85%, the average net profit growth rate of the auto vehicle industry is -1.15%.

According to the report, in the first six months of 2017, the cumulative production and sales of Changan Automobiles were 1,308,176,400 and 1,429,511, respectively, which were 5.37% and 3.63% lower than the same period of last year. This is also the first time in two years that the company has seen a double drop in production and sales.

Geely Automobile: Net profit increased by 128% in half year

On August 16th, Geely officially released its financial statements for the first half of the year. The report shows that in the first half of 2017, the Group achieved a turnover of 39.42 billion yuan, an increase of 118% year-on-year; net profit attributable to shareholders of listed companies reached 4.34 billion yuan, a year-on-year increase of 128%.

In the first six months of this year, Geely Automobile's total sales volume was 530,627 units, an increase of approximately 89% over the same period of last year. Geely management stated that the sharp increase in net profit of the Group in the first half was also due to the improvement of its product mix. And in view of strong sales performance and the market's initial response to the upcoming launch of new models for the rest of the year, Geely announced in July that it will increase its full-year sales target for 2017 to 1.1 million units.

Great Wall Motor: Advertising is too profitable

On August 26, Great Wall Motors released its 2017 semi-annual financial report. According to the report, Great Wall Motor’s operating income for the first half of this year reached 42.16 billion yuan, down 1% year-on-year; net profit attributable to shareholders of listed companies was 2.42 billion yuan, down 50.87% year-on-year.

From January to June this year, the cumulative sales of Great Wall Motors totaled 461,000 units, which was a year-on-year increase of 2.3%. With the increase in sales, Great Wall Motor's profits have been reduced. In this regard, Great Wall Motors said that the first half of the decline in net profit was mainly due to the sharp increase in selling cars and marketing activities and advertising, and in order to continuously improve the competitiveness of SUV products, resulting in a larger increase in R&D expenses.

According to the announcement, Great Wall Motor's advertising and media service fees were 260 million yuan, a sharp increase of 148% compared with the same period of last year. Travel expenses amounted to 13.86 million yuan, an increase of 57.5%. During the reporting period, technology development expenditure was 1.498 billion yuan, an increase of 23.79% over the same period of last year.

Jianghuai Automobile: SUV Losses by 40% in First Half Profit

On the early morning of August 31, JAC Motor disclosed its financial results for the first half of 2017. The report shows that in the first half of this year, Jianghuai Automobile realized operating revenue of 25.313 billion yuan, a year-on-year decrease of 4.08%, and net profit of 345 million yuan, a year-on-year decrease of 40.31%.

Jianghuai Automobile stated that the decline in revenue and net profit was mainly due to the decline in sales volume, the retreat of new energy vehicle subsidy policies and the increase in prices of bulk raw materials. Data show that from January to June this year, the total sales volume of JAC vehicles (including passenger vehicles and commercial vehicles) was 274,677 units, which was 17.67% lower than the 333,639 units in 2016. In particular, the SUV's year-on-year decline was 53.29%, compared with 143,781 vehicles last year.

BYD: The performance of the automotive business is weak

On August 29, BYD released its financial statements for the first half of the year. The report shows that in the first half of 2017, BYD realized operating revenue of 45.038 billion yuan, a slight increase of 0.2% year-on-year; net profit attributable to shareholders of listed companies was 1.723 billion yuan, a year-on-year decrease of 23.75%. The revenue from the automotive and related products business was approximately RMB 23.189 billion, a year-on-year decrease of 4.15%; the revenue from mobile phone parts and assembly business was approximately RMB 18.235 billion, up 10.09% year-on-year; the revenue from secondary rechargeable batteries and photovoltaic business was approximately RMB. 3.613 billion yuan, a year-on-year decrease of 13.43%.

The three major businesses accounted for 51.49%, 40.49% and 8.02% of the Group's total revenue respectively. The auto business still occupies the main share of BYD's operating revenue, and it is also an important reason for its first-half profit decline.

Gasgoo's market performance by compiling BYD's vehicles in the first half of this year found that compared with 215,519 units sold in the first half of 2016, it sold only 183,635 units in the first half of this year, a year-on-year drop of 15%. Among them, the cumulative sales volume of traditional fuel vehicles was 148,000, which increased by 17,000 vehicles compared to 13.1 in the first half of 2016. However, from January to June, traditional fuel vehicles fell in a downward trend. New energy vehicles were subsidized and declined. Affected by the policies for adjusting product access rules, the cumulative sales volume in the first half of the year was 35,500 units. Although it still ranks first among new energy vehicles, the 49,000 units in the first half of 2016 fell by 27%.

Seahorse Motors: Serious decline in profit due to too many dreams

On August 30th, Haima Motors issued a correction announcement for the 2017 semi-annual financial report, and corrected the information on the total number of ordinary shareholders at the end of the reporting period. Other contents of the report remain unchanged. The latest financial report shows that in the first half of this year, Haima Motors achieved operating revenue of 5.103 billion yuan, a decrease of 22.11% year-on-year; net profit attributable to shareholders of listed companies was 2.4373 million yuan, a year-on-year decrease of 86.04%.

The hippocampus said that the decline in profits was mainly due to the decline in car sales. The data shows that in the first half of 2017, a total of 71,700 units of hippocampal vehicles were sold, a decrease of 29.15% year-on-year. Among them, the main model Sea Horse S5 sold 33,900 vehicles, a year-on-year decrease of 27.25%. In addition, the intricate business segment is also an important reason for the decline of Haima's profits. At present, the Haima Group includes real estate, business clubs, property companies, financial investment, small loans and other businesses. Such a large number of businesses will inevitably reduce the investment in the hippocampal automobile segment, and will also slow down the R&D and mass production of new vehicles to some extent, and even affect the sales of automobiles, thereby reducing the overall profit of the group.

Lifan Co., Ltd

On August 23, Lifan issued a 2017 semi-annual report. According to the report, in the first half of 2017, Lifan’s operating income was 6.298 billion yuan, an increase of 24.1% over the same period of the previous year, and the net profit attributable to shareholders of the parent company was 121 million yuan, a year-on-year decrease of 32.02%.

In terms of sales performance, in the first half of the year, Lifan Motors sold a total of 56,500 new cars, a year-on-year decrease of 1.8%. Among them, the sales of new energy vehicles were disastrous, with only 1,624 units sold, a drop of 59.21%. This is not unrelated to Lifan’s cheating penalty at the end of last year.

On October 10, 2016, the Ministry of Finance issued an announcement stating that in the new energy vehicles for which the Lifan Passenger Vehicle applied for 2015 central government subsidies, a total of 2,395 vehicles did not meet the reporting conditions, involving a central government subsidy of 110.08 million yuan. Since then, the pre-qualification of the Lifan Passenger Vehicle's central government subsidy funds in 2016 was cancelled. On February 4 this year, the Ministry of Industry and Information Technology issued a decision on the administrative penalties to the Lifan passenger vehicle and instructed it to carry out a two-month rectification. Fortunately, the subsidiary company of Lifan Co., Ltd. Chongqing Lifan Passenger Vehicle Co., Ltd. has resumed the application for the recommended model qualification for the promotion and application of new energy vehicles on May 2, 2017. The “Decision of the Administrative Punishment Decision of the Ministry of Industry and Information Technology” was also resolved. .

Zotye Motor: Surging profit for half year due to consolidated statement

On August 22nd, Zhongtai Automobile announced its financial report for the first half of the year. The report shows that in the first half of 2017, Zotye Automobile achieved a revenue of 5.787 billion yuan, a year-on-year increase of 626.45%, and a net profit of 222 million yuan, a year-on-year increase of 495.12%.

In terms of sales volume, Zhongtai Automobile sold a total of 106,287 units in the first half of the year, a year-on-year decrease of 28.89%, and only completed 26.57% of its annual sales target. Among them, SUV sales were 77,798 units, down 36.58% year-on-year; sedan sales were 15,485 units, down 18.22% year-on-year; only new energy products increased year-on-year, with sales of 13,000 units.

It is worth noting that the sudden increase in profits of Zhongtai Automobile in the first half of the year was mainly due to the acquisition of assets by Yongkang Zhongtai Automobile Co., Ltd. in the form of shares purchased by Zotye in April this year. After the acquisition, the two parties consolidated their statements, resulting in a substantial increase in net profit. The growth is not significantly related to the operating conditions of Zhongtai Auto in the first half of the year.