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Mid-October has passed, a number of domestic car companies have released the latest performance forecasts for the first quarter, with the introduction and landing of the government and the rapid recovery of the domestic macro-economy, a number of head car companies showed varying degrees of profit growth in the third quarter, but it is still difficult for marginal car companies to recover the declining situation. The net profit of Changan and BYD both soared, and the profit of the main business was weak. On October 15, Changan Automobile issued a forecast for its third performance, showing a profit of 5.98-1.198 billion yuan in the third quarter of 2020, an increase of 241.84% and 384.2% over the same period last year.
Over the past month or so, a set of data showing a decline in China's auto industry in 2018 has become the focus of the topic. China's automobile production and sales in 2018 were 27.809 million and 28.081 million respectively, down 4.2 per cent and 2.8 per cent respectively compared with the same period last year, the first annual decline in 28 years. In this environment, from the 14 listed vehicle companies that have announced their 2018 performance forecasts, it is found that only 4 have achieved year-on-year growth, while the remaining 10 have declined, or even dropped sharply. In addition, a total of three car companies reported operating losses. A number of car companies have said that the decline in performance is related to.
With the recent disclosure of the 2020 financial results by various car companies, the market affected by the superimposed epidemic in two consecutive years has been impacted to varying degrees. In this environment, many car companies have achieved a year-on-year growth trend, reflecting the obvious recovery of the market and promoting a rapid recovery in business.
Affected by the COVID-19 epidemic, the performance of domestic automobile enterprises declined almost synchronously in the first half of this year, and loss-making operation has also become a common phenomenon. In the second half of the year, a number of car companies are committed to sales growth, launching more new cars to occupy the market, and performance has also recovered to varying degrees. In the performance statistics of a number of domestic auto companies in the first three quarters of 2020, the top five are SAIC, BYD, Great Wall Automobile, GAC GROUP and Changan Automobile, among which BYD and Changan both achieved simultaneous growth in revenue and net profit. SAIC Group: net profit fell nearly 20% according to SAIC's performance report, SAIC in the first three quarters.
Under many unfavorable factors, such as the economic downturn in 2019, the upgrading of consumption, the continuous decline in the trend of domestic car sales, the subsidy retreat of new energy vehicles, and the switch from national five to national six models, the car market is generally rated as "the worst car market that car companies have ever taken." As of July 31, more than 60 listed automobile companies have successively disclosed their performance forecasts for the first half of 2019. Among them, the performance pre-decline accounted for 44.26% of the total number of enterprises, pre-increase, turnround and profit-making enterprises accounted for 24.59% of the total, loss-making enterprises as high as 27.87% of the reasons for losses, some companies pointed out in the statement of performance changes, subject to domestic macro.
As a number of domestic listed car companies have disclosed their sales performance for half a year, it means that the domestic automobile market has been shrouded in the novel coronavirus epidemic for half a year. As the epidemic has been gradually brought under control, the domestic car market has also recovered significantly. More than 80% of the car companies achieved growth in June, but no car companies achieved more than half of the sales in the first half of the year.
Intensified by the impact of the declining automobile market for two consecutive years and the novel coronavirus epidemic, it is normal for most car companies to decline in sales in the first half of this year, and it has been expected to make performance losses. However, unlike other car companies, many car companies can still be supported by some sales under the crisis, while Haima Motors and Zhongtai Motors, two "marginal" car companies that are the first to issue performance forecasts, have caused the company's "huge losses" in the first half of the year as a result of the suspension of production.
For the end of the year 2020, a number of car companies have released annual new car production and sales reports. Affected by the shrinking market in the first half of this year and the impact of the COVID-19 epidemic, the annual sales of many car companies are on a downward trend, and only a few car companies rebounded strongly after the market recovered in the second half of the year.
Due to performance losses, the stock name of Haima Motor Company was changed from "Haima Motor" to "* ST Haima" in May this year, which was warned of the risk of delisting by the Shenzhen Stock Exchange, and now it has also changed its name. A few days ago, * ST Haima announced that the Chinese name of the company has been changed from "Haima Automobile Group Co., Ltd." to "Haima Automobile Co., Ltd." and its English name will be "HAIMA AUTOMOBILE GROUP CO.,LTD." Change to "Haima Automobile Co.,Ltd." * ST Haima said that it was deployed in accordance with the company's strategy.
Entering 2020, China's automobile market continues to be in the doldrums further, coupled with the irreparable losses caused by the COVID-19 epidemic, the sales volume of domestic car companies has dropped sharply compared with the same period last year, and the decline in operating income and net profit has become a common phenomenon. however, with the improvement of consumption level after the epidemic, the performance of car companies has also begun to pick up. According to a number of listed car companies disclosed in the 2020 interim results summary statistics (ranked according to the level of operating income), more than 90% of car companies have a double decline in revenue and profit, even SAIC is inevitable. Judging from the list, the top five car companies are SAIC, BYD and Dongfeng set.
On May 24, Zhongtai Motor Company received a letter of inquiry about the 2018 annual report of Zhongtai Automobile Co., Ltd. (hereinafter referred to as the "inquiry letter") issued by the Shenzhen Stock Exchange. The "inquiry letter" mainly includes the financial situation of Zhongtai Motor in 2018, the reasons for the change in earnings, and the fulfillment of promises. The Shenzhen Stock Exchange requires Zhongtai Automobile Co., Ltd. to disclose the sales volume, price, sales revenue, gross profit and related period expenses of the major models of Yongkang Zhongtai in 2018, and to explain the differences and reasons between the realization and the evaluation at the time of acquisition, on this basis, analyze and explain the reasons why the current performance did not meet the forecast. Need to be in 2.
Manufacturing base stopped production, sales fell sharply, performance losses are large, Zhongtai automobile empire is teetering. Recently, due to the untimely and inaccurate disclosure of financial information, Zhongtai Chairman Jin Zheyong and other senior executives were named and warned. On July 28, Zhongtai Automobile announced that the company and related personnel recently received a "decision on issuing warning letters to Zhongtai Automobile Co., Ltd. And related personnel" issued by Zhejiang Regulatory Bureau of China Securities Regulatory Commission. After investigation, Zhejiang Securities Regulatory Bureau found that Zhongtai Automobile has the following problems: 1. January 20, 2020, the company disclosed "2019 performance notice."
Under the dual influence of the overall decline of the automobile market and the epidemic situation since 2020, the domestic automobile market finally ushered in some signs of market recovery in April. According to the data disclosed by a number of car companies a few days ago, many car companies have grown to exceed the performance of last year's "no epidemic", but at the same time, some models are still recovering, so that the market is polarized.
As soon as February arrived, more than ten car companies were the first to release sales reports for that month, and the simplest guess for this situation is that most car companies have achieved growth this month, with the excellent performance of their own brands to achieve publicity results. But the car companies that grew in January are not doing better.
Changan Automobile, which has the reputation of "profit Milk year", once ranked first among domestic independent car brands, but now Changan Automobile is gradually being left behind by many other independent brand car companies more and more farther and farther. It has even slipped down the second ladder of domestic brands. On January 30, Changan Automobile issued the latest performance forecast, which estimated that the company would lose 2.4 billion-2.9 billion yuan for the whole of 2019, while the company still made a profit of 680 million yuan in the same period last year. The profit changed from profit to loss, a drop of as much as 452.56%, 526% compared with the previous year. For the sharp decline in the 2019 performance forecast, Changan Automobile is interpreted as "sold.
In 2020, the automobile industry has suffered unprecedented difficulties due to the continuing impact of the epidemic. In order to reduce the burden, enterprises have launched layoffs and pay cuts, and put forward plans that corporate performance is positively related to the personal income of employees. Under the circumstances, SAIC became the first large auto company to announce a pay cut. It has been pointed out that SAIC Volkswagen, the largest seller of SAIC Group, has begun to reduce its salary. A plan posted online is that "SAIC Volkswagen will abolish double salary, with the basic salary reduced by 25% for management and 15% for employees. The overall drop is about 40%," industry insiders said. "SAIC-Volkswagen is already a leader in the industry, and the situation is grim. ...
According to the interim performance summary statistics of a number of listed car companies, revenue and profit rose sharply compared with the same period last year, of which SAIC made a net profit of 13.314 billion yuan. Listed car companies were able to hand over gratifying transcripts, the biggest reason is that the impact of last year's epidemic led to a low base, according to the Federation of passengers retail sales data, narrow passenger car sales in the first half of 2021 accumulated 9.943 million units, an increase of 28.9% over the same period last year. According to the statistical summary of the mid-term results in 2021, the revenue and profits of Chinese auto companies generally increased, with SAIC, BYD and Dongfeng holding the top three in a row. SAIC is the largest auto company in China.
On July 14, Changan Automobile released a forecast of results for the first half of 2021, which shows that the net profit belonging to shareholders in the first half of the year is expected to be 1.6 billion-1.9 billion yuan, down 26.98%-38.51% from the same period last year; net profit after deducting non-recurring profits and losses is 600-900 million yuan, an increase of 122.93%-134.39% over the same period last year. Changan Automobile said that the year-on-year decline in net profit was mainly due to a sharp drop in non-recurrent profit and loss by about 4.2 billion yuan compared with the same period last year. According to the first half of 2020 performance report, Changan Automobile in the first half of the net profit of shareholders of listed companies 2.602 billion yuan, an increase over the same period last year.
From the recent financial results disclosed by multinational car companies, it can be said to be "miserable". The operating income of multinational car companies in the first quarter generally has little impact, but the net profit has dropped sharply, including Ford, FCA, GM and other car companies. The results of the three American giants: Ford, GM, FCA Ford and FCA fell sharply in the first quarter, with Ford's operating income falling 14.9% to $34 billion and net profit plummeting 268.5% to-$2 billion. FCA's operating income fell 16.0% to $22.4 billion and net profit plummeted 43.3% to-$1.84 billion. At the end.
Zhongtai Automobile disclosed a semi-annual performance forecast, the company expects a loss of about 270 million yuan to 320 million yuan in the first half of the year, the company's net profit for the same period last year was 305 million yuan. Affected by the macroeconomic situation, the overall prosperity of the automotive industry is not high, and the company's car sales have declined, resulting in a significant decline in the company's semi-annual performance compared with the same period last year. Not only has it lost money, but Zhongtai's sales have also halved. Zhongtai's cumulative sales from January to July this year reached 82000, down 48.4 percent from 159000 in the same period in 2018. In fact, since 2016, Zhongtai car sales began to decline, the main reason is also.
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