AutoBeta(AutoBeta.net)09/20 Report--

On September 19, the official website of Jianghuai Automobile issued a notice saying that according to the planning and construction requirements of rail transit line 5, a key project in Hefei, the housing collection office in Baohe District started the overall housing collection and demolition work in Sanmian District and Zhuyuan District. 3 and 4 buildings in Zhuyuan District owned by the company will be collected by the local government in accordance with monetary compensation.

It is understood that Jianghuai Automobile bought a total of 120 houses in Zhuyuan District, Baohe District, Hefei City in 2002, with a construction area of 8851 yuan, which is an apartment for single employees. Through evaluation, it is known that the benchmark price of housing is 17307 yuan per unit. According to the compensation plan of the government of Baohe District, Hefei City, Jianghuai Motor received compensation funds of 211 million yuan.

JAC shares rose nearly 5% on Sept. 19, closing at 555 million yuan. JAC shares rose 1.8% on Sept. 20, with a total market price of 565 million yuan higher than the previous week.

Housing demolition, JAC 200 million compensation to increase the company's future profit margins, in addition, JAC Motor also announced on September 17 the transfer of its continued loss of 1.1 billion yuan * ST Ankai shares.

According to the JAC announcement, JAC plans to transfer * ST Ankai, which holds 12.85% of its shares, to SASAC. After the transfer, JAC is no longer the controlling shareholder of Ankai bus, and the actual controller of the company has been changed from Anhui SASAC to SASAC of the State Council.

It is understood that Ankai bus was once a leading enterprise in the bus field, and it is also a separate listed company. However, in the past two years, with the strengthening of supervision in the field of new energy buses, the performance of Ankai bus has plummeted.

In 2017 and 2018, Ankai bus lost a total of 1.1 billion yuan for two consecutive years. According to regulations, it has been ST since April 17 this year, and the stock abbreviation has also been changed from "Ankai bus" to "* ST Ankai". If the business situation continues to fail to improve, * ST Ankai will face the risk of delisting.

Due to the continuous losses of Ankai bus and the decline of Jianghuai car sales caused by the current downturn in the car market, under the trend of many conditions, on the one hand, Jianghuai Automobile seeks revival through the transfer of equity. Ankai bus can also get a turnaround under the development of SASAC.

Jianghuai Automobile as an important domestic automobile enterprise, although the profit of the car market is still in a state of loss, but the overall trend is still upward.

In the first half of this year, Jianghuai Automobile achieved an income of 27 billion yuan, an increase of 13.88 percent over the same period last year. The actual net profit of shareholders of the parent company was 125 million yuan. In August, JAC car sales were 26300, down 28.16 per cent from a year earlier. From January to August, JAC sales were 289100, down 11.54 per cent from a year earlier. However, in the demolition of more than 200 million yuan in compensation, Jianghuai Automobile in 2019 to achieve higher profits to provide a guarantee.

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