AutoBeta(AutoBeta.net)10/11 Report--

Today, Jianghuai Automobile released its latest production and marketing KuaiBao. According to KuaiBao, the total production and sales of various types of passenger vehicles and commercial vehicles in September this year were 30794 and 31679, down 10.13% and 8.7% from January to September, respectively, down 11.23% and 11.27% from January to September.

Specifically, in terms of SUV models, JAC sold 9121 vehicles in September, an increase of 56.85% over the same period last year, while sales in the first three quarters totaled 70897, down 2.92% from the same period last year.

In terms of MPV models, JAC sold 3442 vehicles in September, down 19.14% from the same period last year, while sales in the first three quarters totaled 28593, down 37.58% from the same period last year.

In terms of car models, Jianghuai Motor sold 423 cars in September, down 90.07% from the same period last year, while sales in the first three quarters totaled 27747, down 17.36% from the same period last year.

In addition, JAC Motor sold 5116 pure electric passenger vehicles in September, down 24.17% from the same period last year, while sales in the first three quarters totaled 49028, up 29.82% from the same period last year.

Judging from the sales volume of Jianghuai Automobile, the biggest increase is the SUV model. It is understood that JAC sales of SUV models in August were 6366, down 38.34 per cent from the same period last year. In September, SUV models rose sharply from a month earlier, up 57 per cent from last year. On the other hand, the performance of other models is not very good, especially the car model, which is down 90% from a year earlier, and sales are falling month by month.

In addition, I learned from Jianghuai Automobile that the company's second largest shareholder, CCI Limited, plans to reduce its holdings of no more than 2% of the company's shares through centralized bidding on the Shanghai Stock Exchange within six months from the date of the announcement. The number of shares to be reduced is 37.8662 million shares, and the number of shares planned to be reduced in the first three months will not exceed 1% of the company's total shares.

According to the announcement, CCI holds 134 million shares of JAC Motor, accounting for 7.10% of the company's total share capital, and is the second largest shareholder of JAC Motor. Construction Investment had planned to reduce its holdings by no more than 2% of the company's total shares from April 3, 2019 to September 30, 2019, but did not reduce its holdings in this reduction range due to market reasons. In this share reduction, CCI said it was due to its own operating needs, and this reduction will issue 37.8662 million shares obtained by CCI through share purchase at the market issue price.

In the general environment of the declining car market, Jianghuai Motor is not easy. In the first half of this year, Jianghuai Motor's operating income was 27 billion yuan, an increase of 13.88 percent over the same period last year, while its net profit was 125 million yuan, down 23.46 percent from the same period last year. In September this year, JAC also signed an agreement with CNR Industry Investment Co., Ltd. to transfer about 12.85% of Ankai bus. After the transfer is completed, JAC will no longer control Ankai bus.

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