AutoBeta(AutoBeta.net)04/28 Report--

Foton Motor disclosed its annual report and quarterly report, with revenue of 41.054 billion yuan in 2018, a year-on-year decline of 20.61%, and a net profit loss of 3.575 billion yuan, compared with a profit of 112 million yuan in the same period last year. As for the decline in revenue and profit in 2018, Fukuda said it was mainly due to a year-on-year increase in advertising fees and a decline in sales in the passenger car business.

Foton Motor had revenue of 14.144 billion yuan in the first quarter of this year, an increase of 50.27% over the same period last year, and a net profit of 80.186 million yuan.

Foton Automobile 2018 annual report shows that there are five main factors affecting the main business, the most important of which is that the passenger car business is affected by the market, advertising promotion fees increase year-on-year, sales decline, resulting in a substantial increase in performance compared with the same period last year, affecting 1.77 billion yuan. in addition, the increase in R & D investment year-on-year and the signing of bus orders later than expected also had an impact on profits. In addition, Fukuda also disclosed that government subsidy programs were reduced by 170 million yuan in 2018 compared with the same period last year.

In terms of production and marketing, Futian sold a total of 545007 vehicles of various types in 2018, down 9.29% from the same period last year, and produced a total of 542869 vehicles of various types, down 9.56% from the same period last year. Among them, passenger car business Bowo sold a total of 26887 vehicles in 2018, down 37% from 2017, of which 18027 BX5 models were sold, up 8% from the same period last year, making it the brand's highest-selling model, while BX7 sold 8484, down 68% from the same period last year. BX6 and BXi7 New Energy, which went on sale in 2918, sold 369 and 7 respectively.

As of August 31, 2018, Baowo had total assets of 11.816 billion yuan, liabilities of 6.667 billion yuan, net assets of 5.149 billion yuan, operating income of 2.184 billion yuan, operating profit of-1.248 billion yuan, total profit of about 1.249 billion yuan and net profit of about 1.148 billion yuan. At the end of last year, Shenzhou Youche and Bowo completed the acquisition, and Shenzhou Youche took a 67 per cent stake in Bowo Motor for 4.10911 billion yuan.

Bowo Motor has suffered heavy losses and is a bottomless pit. As Shenzhou Youche completed its acquisition of 67% of Bowo Motor, Futian's stake in Bowo Motor has also dropped to 33%. After that, Bowo's performance is no longer included in the consolidated statements of listed companies. Futian Motor's first-quarter results showed that profits affected by the transfer of 67% stake in Beijing Bowo Automobile Co., Ltd. increased by 470 million yuan year on year.

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