AutoBeta(AutoBeta.net)05/20 Report--

Zhongtai Automobile sales data fell sharply in April! In April 2019, Zhongtai sold 14883 vehicles, down 35% from the same period last year, and the cumulative sales from January to April were 50009, down 52.3% from the same period last year.

Sales of the Zhongtai T300 model are the core sales pillar of Zhongtai Automobile, with 8891 units sold in April. Sales of the T300 totaled 25048 units from January to April, down sharply from the same period last year, according to the Federation's sales report.

Judging from the annual report of Zhongtai Automobile, both sales and performance show a downward trend. The depressed environment of the automobile market has a more direct impact on Zhongtai Automobile, and the company's main business indicators have declined seriously. In 2018, Zhongtai's sales revenue fell by 30%, from 227665 in 2017 to 154844, down by 32%. Sales reached 115000 in the first half and less than 40, 000 in the second half of the year. The rapid decline in sales directly led to a decline in Zhongtai's sales revenue, which reached 14.764 billion yuan in 2018, down 29.03% from 20.804 billion yuan in the previous year. Today, 000980.SZ has a market capitalization of 9.591 billion yuan, compared with a consideration of 11.6 billion yuan when Zhongtai listed in a backdoor listing.

On the other hand, Zhongtai Motor's gross profit margin fell from 18.77% to 13.54%, directly causing its profit to fall from 1.1 billion yuan to a loss of 1.24 billion yuan in 2017, falling short of the promise of 2 billion yuan when it was backdoor. According to the betting agreement, Zhongtai Motor's promised net profit in 2016, 2017, 2018 and 2019 should not be lower than 1.21 billion yuan, 1.41 billion yuan, 1.61 billion yuan and 1.61 billion yuan respectively, while in 2016, 2017, 2018, the completion amount is only 1.23 billion, 1.34 billion and-490 million, with a cumulative completion rate of 49.25%, which is less than half of the earlier commitment.

Zhongtai's car sales in new energy are also stagnant. According to data from the Federation of passengers, Zhongtai's sales of new energy vehicles reached 33872 in 2018, an increase of 7.3% compared with 2017. But it is far lower than the domestic new energy vehicle growth rate of 61.7% in the same period, which is much lower than Zhongtai's original sales target of 80, 000 units. It has also directly reduced the automobile production capacity of Zhongtai New Energy due to sales. Sales of the new energy vehicle E200 were only 139, down 93.1 per cent from 2016 the previous year. As a marginal brand among independent brands, Zhongtai's goal of 2019 has become precarious under the influence of the general environment.

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