Kunshan Muchun Electric Co., LTD , https://www.muchunelectric.com
On the 13th, the China Association of Automobile Manufacturers released a summary of the economic benefits of key enterprises (groups) in the automotive industry from January to April: Major economic indicators of major automobile companies (groups) continued to maintain rapid growth. Growth, the increase in total income, profits, and profits and taxes of the main business compared with the first quarter has declined.
Zhu Yiping of the China Association of Automobile Manufacturers said that in the first four months, the income from main business of the key auto industry (group) of the automobile industry has maintained a relatively rapid growth, and the total revenue of the main business has been 422.309 billion yuan, a decrease of 1.91 percentage points from the first quarter.
According to her introduction, from the perspective of the growth rate, the major business revenue growth rates of CNHTC Group, BYD Company, FAW Group and Yutong Group were higher than 40%, which were 57.69%, 51.11%, 49.94% and 44.70%, respectively. Qingling Company, Jianghuai Group, Shaanxi Automobile Group, Geely Group and South Company achieved a growth rate of main business revenue of over 30%; Dongfeng Corporation and SAIC Group achieved main business revenue growth rates of 28.32% and 13.89% respectively; The rate of positive growth from negative growth in the first quarter of the company has Brilliance Group and Southeast Company. Its main business revenue growth rate dropped by 14.91% and 15.11% respectively.
According to the profit growth data released by the association, from the perspective of the specific situation of the total profit realized by key enterprises (groups) of the automotive industry, the majority of companies realized that the total profit continued to grow at a faster rate, and the growth rate exceeded double digits.
Geely Group, FAW Group, Hafei Group, Chery Company, Yutong Company and BYD Company are prominent, achieving a total profit growth rate exceeding 3 digits. Among them, profit growth rates of Geely Group and FAW Group reached 457.07% and 272.16%, respectively.
Analysis of the industry, driving the rapid growth of the total profits of these six companies are mainly due to the following aspects: First, FAW Group, Geely Group and Chery company in the production and sales structure changes are relatively large. The production and sales volume of heavy trucks of FAW Group increased by 50.27% and 58.13%, respectively, and the production and sales volume of FAW-VW passenger cars increased by 22.52% and 39.88%, respectively; this year, the production and sales of Geely Group were mainly from middle and low-end vehicles, and were adjusted to Geely Vision of medium-to-high-end models and Geely-Gold-Steel are the main products; Chery’s products are strong in terms of export, and the export volume has increased by 72.70%; Secondly, the scale effect of BYD Company has gradually emerged and the cost of driving vehicles has been reduced. In the end, the achievements made by Hafei Group and Yutong Company in terms of investment income are relatively obvious, which drive the total profit of the company to increase.
In the business performance data released this time, there are also companies that are not optimistic about their operating conditions. The adjustment of the product structure of GAC Group realized that the total profit growth rate changed from positive growth in the first quarter to negative growth, which was a decrease of 0.96% year-on-year; JAC Group achieved a year-on-year increase in total profit growth due to the large investment in new models and price increase due to raw materials. The decrease was 45.76%. Due to the impact of vehicle model conversion, Southeast China realized a total profit from small profit in the first quarter to a loss. Changhe Company is still at a loss and the loss has increased.
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