AutoBeta(AutoBeta.net)10/30 Report--

On the evening of October 28, Changan Automobile released its third-quarter results. According to the report, the revenue of Changan Automobile in the first three quarters was 110.96 billion yuan, up 2.54% from the same period last year, of which the revenue in the third quarter was 34.237 billion, down 19.85% from the same period last year. The net profit in the first three quarters was 3.58 billion yuan, down 63.78% from the same period last year, of which the net profit in the third quarter was 748 million yuan, down 66.44% from the same period last year. The net profit of deduction in the first three quarters was 1.681 billion, down 48.87% from the same period last year, and the non-net profit in the third quarter was 512 million yuan, down 74.96% from the same period last year. From the overall performance, the performance of Changan Automobile in the third quarter was still disappointing, with revenue and profits both declining, especially profits, halving from the same period last year. In addition, the gross profit margin in the first three quarters was 14.38%, down 3.5 percentage points from 17.88% in the same period last year, mainly due to increased competition in the domestic fuel vehicle market and the company's loss on new energy vehicles.

Changan car sales in the third quarter were 570900, down 12.71 per cent from a year earlier, according to the financial report. It is understood that Changan car sales have begun to decline since June, falling 17.86% to 170600 in July, 10.63% to 187100 in August, and 9.98% to 213100 in September, taking into account the 0.3% decline in June. Changan has seen a decline in sales for four consecutive months. Generally speaking, the performance of Changan Automobile in the third quarter is very mediocre. Compared with other domestic car companies, which lack bright achievements in the market, the range of sales is larger, and the market share continues to shrink.

Changan Automobile, as the leader of fuel cars, under the squeeze of new energy, life is a little difficult! Since July, the market penetration of domestic new energy vehicles has exceeded 50% in a row, but Changan's share of new energy has basically stabilized at 25%, obviously outperforming the market. Take September sales as an example, Changan New Energy sales of 54400 vehicles, an increase of 6.65% over the same period last year, accounting for 25.52% of new energy. Compared with the new energy penetration rate of 53.3% of the entire market in that month, Changan Automobile's new energy share is still very small. The new energy share of Changan Automobile is only about 25%, which is a big gap compared with the whole market, which means that Changan Automobile's market share is shrinking.

According to the Changan Automobile Plan, the sales target of Changan New Energy in 2024 is 750000 vehicles, while the full-year targets of Changan Qiyuan, Deep Blue Automobile and Avita are 250000, 280000 and 90, 000 respectively. To this end, Changan Automobile will continue to develop the new energy vehicle market in the second half of the year, with the launch of Qiyuan E07, Deep Blue S05, Deep Blue L07, Avita 07, the fourth generation CS75PLUS and other new and modified models.

In the context of the relative saturation of the automobile market and stock competition, new energy vehicles have increased significantly and fuel vehicles have dropped sharply. Changan Automobile, as the leader of fuel cars, is in a difficult situation! A few days ago, Zhu Huarong, chairman of Changan Automobile, said at the Changan Science and Technology Ecological Conference that the company will launch 37 digital intelligent products in the future, and the overall goal is to sell 5 million vehicles annually by 2030. Among them, Changan independent brand accounted for 4 million, new energy models accounted for 60%, overseas sales accounted for 30%. In addition, Changan Automobile will invest 250 billion yuan in the next five years to recruit more than 10, 000 scientific and technological R & D personnel.

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