AutoBeta(AutoBeta.net)05/10 Report--

In response to suspected emissions fraud, Jianghuai Automobile issued a clarification notice on the 10th that more than 700 emission trucks were sold in the Beijing market. The impact of the incident on the company is uncertain.

The Beijing Municipal Bureau of Ecological Environment issued a notice on May 5 that Jianghuai Automobile was suspected of faking motor vehicle pollution control devices and passing off as qualified products for emission inspection, which would be severely punished and planned to hold a hearing on the case.

Due to Jianghuai Motor's application for an extension of the hearing, the hearing of the case was finally postponed to May 16.

Jianghuai Automobile said in its announcement that the Beijing Municipal Bureau of Ecological Environment conducted a spot check on the environmental consistency of the company's new cars in April last year and found in July of the same year that there were suspected problems with the company's three Jing five state truck products.

Jianghuai also said that at present, the company is working with relevant engine suppliers to conduct in-depth technical research to analyze the causes of possible problems, and is also actively cooperating with the Beijing Municipal Bureau of Ecological Environment to make relevant preparations for the hearing. Given that the hearing has not yet been recalled, the impact on the company is uncertain.

Car sales in 2018 were 462400, down 9.48 per cent from a year earlier, according to JAC figures. Jianghuai car sales from January to April this year were 164000, down 13% from a year earlier.

According to the performance report, JAC Motor's operating income reached 50.161 billion yuan in 2018, an increase of 1.95% over the same period last year, but the net profit belonging to shareholders of listed companies was a loss of 786 million yuan, down 282% from the same period last year.

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