AutoBeta(AutoBeta.net)03/13 Report--

Jianghuai Automobile announced on March 12 that the company's second largest shareholder, Construction Investment Co., Ltd. plans to reduce its shares in the company by centralized bidding within six months after 15 trading days from the date of this announcement. Through the trading system of the Shanghai Stock Exchange, the shares of the company are reduced by no more than 2%, that is, 37866242 shares. And the number of shares reduced by centralized bidding shall not exceed 1% of the total number of shares of the company within any 90 consecutive days of the above-mentioned period. The announcement is as follows

The announcement said that as of the date of disclosure of this announcement, Construction Investment Co., Ltd. held 134355512 shares of the company, accounting for 7.10% of the company's total share capital. Construction Investment Co., Ltd. reduced its stake in 15800000 shares through block transactions between September 13, 2016 and March 12, 2017.

At the end of January, Jianghuai Motors announced a pre-loss. Affected by the first negative growth in China's auto market in 28 years and the industry recession, the company's sales of complete vehicles and chassis decreased by 9.48% compared with the same period last year, including a significant decline in passenger car and bus sales, resulting in a decline in the company's overall profitability. It is expected that in 2018, the company's net profit belonging to the shareholders of the listed company will be a loss compared with the same period last year. The net profit attributed to the shareholders of the listed company is about-770 million yuan. The net profit of shareholders belonging to listed companies after deducting non-recurring profits and losses is about-1.9 billion yuan.

Jianghuai Automobile released production and sales in February 2019, KuaiBao pointed out that February production totaled 31667 vehicles, down 16.04 percent from the same period last year, including 2336 pure electric passenger vehicles, down 39.59 percent from the same period last year; sales totaled 31579, down 12.57 percent from the same period last year, including 2340 pure electric passenger vehicles, down 23.23 percent from the same period last year; and export sales of 2924 vehicles, down 27.23 percent from the same period last year.

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