With the end of 2017, car companies have also officially entered the annual report disclosure time. "Securities Daily" reporter through the Choice financial terminal statistics found that as of the evening of January 28, a total of 10 listed car companies disclosed 2017 performance forecast.

Among them, FAW Cars, which achieved significant losses in the first half of the year, is expected to turn a deficit into profits. According to the data, the company expects net profit attributable to shareholders of listed companies in 2017 to be between RMB260 million and RMB320 million, an increase of 127.25%-133.54% year-on-year.

In contrast, four car companies including Great Wall Motors and Zhongtong Bus are expected to have a 50% drop in net profit in 2017. Among them, after the net profit fell by 50.87% year-on-year in the first half of last year, Great Wall Motor announced on January 26 that it expects its annual net profit to decline by 52.28% year-on-year.

In addition, Jiangling Motors, which recently announced its “proposed to pay more than RMB 2 billion” and attracted attention, experienced a decline in net profit for the year that was close to 50%. The disclosed performance was in contrast to its generous dividend distribution. According to the performance report, the company expects net profit of RMB 690 million in 2017, a decrease of 47.65% from the same period of last year.

FAW Car Turns Into Profit

On the evening of January 26th, FAW Car disclosed a performance forecast that the company expects to achieve a net profit of 260-320 million yuan in 2017, compared with a loss of 954 million yuan in the same period of last year, and the company will achieve profitability.

FAW Car said that in 2017, the company implemented deepening reforms, actively and orderly carried out various tasks, kept a close eye on the market, and successfully launched the Pentium X40, an intelligent network-linked model; and continued sales of the cooperative brand double-star models, the company realized the whole year The sales of vehicles were 239,600, an increase of 23.8% over the previous year, and the operating results achieved a turnaround.

A dealer told reporters that from the perspective of specific models, Mazda CX-4 and the new Artz monthly sales remained high, the Pentium X40 quickly became the Pentium brand after the listing of the main models, which effectively promoted the company's performance growth.

In fact, since Xu Liuping was transferred to any steam in August last year, FAW Group has been in a fast-paced reform and adjustment process, and its existing organizational structure and personnel arrangements have undergone major adjustments. Many people in the industry believe that FAW Group, which has experienced the mobilization of its chief, has ushered in new opportunities for development.

In this reform process, FAW Cars achieved a turnaround in performance. "Securities Daily" reporter noted that as early as the first half of last year, FAW Car had achieved a year-on-year turnaround. Its revenue for the first half of 2017 was 13.401 billion yuan, a year-on-year increase of 57.84%, 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.

At the same time, the reporter noticed that in November last year, FAW Car announced that it intends to transfer some of the assets related to the construction of red flag parts and components to some of the company's 289 million yuan price to China FAW Co., Ltd. This is the second transfer of Red Flag related assets following the transfer of Red Flag to FAW shares for 428 million yuan by FAW Car.

At that time, the company stated that the 289 million yuan in the transfer of assets will be mainly used for the production and operation of FAW Cars and additional working capital to further optimize the asset structure, increase working capital, develop independent businesses, and improve company operations and management efficiency.

Industry analysts told reporters that the company’s transfer of the Hongqi assets to the controlling shareholder FAW shares will help the FAW Cars to travel light and focus on the Pentium and Mazda businesses.

Many car companies saw a decline in their net profit

According to "Securities Daily" reporter statistics, as of the evening of January 28, a total of 10 car companies disclosed 2017 performance forecast, including 3 pre-increase, 1 first loss, 1 turn losses, 4 pre-decrease, 1 Slightly increased.

Specifically, on the evening of January 26, Great Wall Motor announced that it expects operating revenue of 101.169 billion yuan in 2017, an increase of 2.59% year-on-year; net profit attributable to shareholders of listed companies will be 5.035 billion yuan, a decrease of 52.28% year-on-year.

According to the company, the main reason for the decrease in performance during the period was that the company sold customers through activities such as shaking red envelopes to profit customers, promoted existing products, and affected the level of revenue and gross profit margin; at the same time, it was in the Internet, TV, outdoor, etc. The promotion of brands and products by the media has resulted in a larger increase in advertising fees; in order to continuously increase the competitiveness of SUV products, investment in R&D has increased.

Jiangling Motors also recently released its annual performance report. It is expected that operating income from January to December of 2017 will be 31.646 billion yuan, an increase of 17.69% year-on-year; net profit attributable to shareholders of listed companies will be 690 million yuan, a year-on-year decrease of 47.65%.

The company stated that in order to comply with the development trend of the automotive industry, the company has increased investment in R&D for new products, new technologies, and new businesses. At the same time, it has also increased investment in promotional costs to cope with fierce market competition.

However, the reporter noticed that Jiangling Motors issued its 2017 mid-term special dividend plan on January 15 and stated that it “scheduled to distribute a cash dividend of 23.17 yuan (including tax) per 10 shares, with a total dividend of more than 2 billion yuan.” The program subsequently received a letter of concern from the Shenzhen Stock Exchange.

Insiders told reporters that Jiangling Motors’ performance was not as satisfactory as its generous investment in the $2 billion dividend. On the evening of January 19, Jiangling Motors issued an announcement saying that after the completion of the dividend payment, the company’s asset-liability ratio does not exceed 60%, still lower than the industry average, and cash reserves are still abundant. Therefore, this dividend does not affect the company. Normal operation and sustainable development.


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