AutoBeta(AutoBeta.net)03/30 Report--

GAC GROUP released the 2018 performance report, realizing total operating income of about 72.38 billion yuan, an increase of about 1.13% over the same period last year. Net profit belonging to shareholders of the parent company was about 10.903 billion yuan, an increase of 1.08% over the same period last year, and earnings per share was 1.07 yuan. GAC GROUP has been shortlisted in the Fortune World 500th for six years in a row, ranking 202.

The board of directors intends to pay a final dividend of 2.80 yuan (including tax) for every 10 shares to all shareholders, plus a dividend of 1 yuan (including tax) for every 10 shares already paid in the medium term. The total dividend paid out to all shareholders for the whole year is about 3.887 billion yuan, an increase of about 2.64 percent over the previous year. GAC GROUP has accumulated more than 12 billion yuan in cash dividends since he went public.

In terms of sales volume, GAC GROUP's production and sales volume in 2018 were 2.194 million and 2.147 million respectively, up 8.77% and 7.34% respectively over the same period last year. The company plans to launch more than a dozen new, updated and modified models, such as its own brand new energy exclusive platform, Chuanqi GA6 and GS8, in 2019, challenging the goal of more than 8 per cent year-on-year growth in car sales.

In 2018, GAC-Japanese joint venture brand sales achieved an overall upward trend, including GAC-Honda's annual sales of 741400 vehicles, up 5.16% from the same period last year; GAC-Toyota's annual sales of 580000 vehicles, up 31.11% from the same period last year; and GAC-Mitsubishi sales of 144000 vehicles, up 22.69% from the same period last year. In addition, independent brand GAC MOTOR sold 535200 vehicles in the whole year, an increase of 5.23% over the same period last year, exceeding 500000 for the second year in a row. GAC NE sold 24100 vehicles for the whole year, an increase of 359.7% over the same period last year.

In 2019, GAC GROUP's sales declined, falling 4% from January to February compared with the same period last year. Only Honda and Toyota achieved sales growth, while Chuanqi, Mitsubishi and Fick declined across the board. In addition, Guangzhou Automobile BYD new energy bus has stopped production since this year, and GAC GROUP's profits are still mainly from Toyota and Honda.

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