Car companies saw a 45% increase in net profit in the third quarter

From Gasgoo.com's statistics on 21 listed companies that have announced third-quarter financial reports in China, the listed Chinese auto companies achieved a total revenue of RMB 149.228 billion in the third quarter of 2010, an increase of 55.10% over the same period of last year. The total profit (64.660 billion yuan) increased by 44.88% year-on-year, while the average net interest rate (4.33%) fell slightly compared with the same period last year (4.64%).

Revenue: Shanghai Automotive’s largest and fastest growing

Among listed car companies, Shanghai Automotive has the highest operating income and net profit. In the third quarter of this year, its total operating revenue was as high as 81.613 billion yuan, an increase of 114.6% year-on-year, and the growth rate ranked first among listed auto makers. This is related to the inclusion of Shanghai GM in the scope of the consolidated statement from February this year.

However, the net profit of Shanghai Automotive in the third quarter was only increased by 46.9% compared with the same period of last year, and the net profit rate also decreased from 6.65% in the same period of last year to 4.55%, which was only ranked eighth.

Of the 21 auto makers, the second to tenth rankings of operating income were Foton Motors, FAW Car, Changan Automobile, Jianghuai Automobile, China National Heavy Duty Truck, Dongfeng Automobile, Jinlong Automobile, Jiangling Motors and Yutong Bus.

Net profit: Hippocampus and Yaxing turn a profit, and FAW Xiali and other net profits declined

In the third quarter of last year, Yaxing Bus and Haima Group had a net loss of 19.669 million yuan and 89.379 million yuan respectively. In the third quarter of this year, both of them had turned losses into profits, achieving a net profit of 1.327 million yuan and 85.259 million yuan respectively.

In the third quarter of this year, the fastest-increasing net profit of listed car companies was Xingma Automobile and Jianghuai Automobile, which increased by 321.9% and 148.5% year-on-year respectively.

However, there were also net profit declines for enterprises. They were: FAW Cars, FAW Xiali and GAC Changfeng, which are mainly engaged in passenger car business, which fell 16.1%, 97.4%, and 24.5% respectively; Main Bus and Zhongtong Passenger cars declined by 26.8% and 50.7% respectively; the ST Gold Cup and Dongan Panthers operating the light truck business also declined by 89.5% and 108.3% respectively.

Top 5 Net Profits: The Fastest Upgrade of Xingma Automobile and JAC

The five listed companies with the highest net profit rate in the third quarter of this year were ST Changhe (16.15%), Jiangling Motors (10.36%), Xingma Automobile (6.91%), Changan Automobile (5.66%) and Jianghuai Automobile (5.23%). . Among them, the fastest-rising is Xingma Automobile and JAC.

In the third quarter, Xingma Automobile's operating income increased by 89.3% over the same period of last year, while net profit soared by 321.9%. Net profit margin increased by 3.8% to 6.91% from 3.10% in the same period of last year. This is closely related to the acquisition of the profitable Hualing heavy truck in the fourth quarter of last year.

JAC's operating income for the third quarter increased by only 21.3%, while its net profit increased by 148.5%. The net profit rate increased from 2.55% in the same period last year to 5.23%.

The net profit rates of Jiangling Motors and ST Changhe, both last year and the third quarter of this year, were higher than those of other car companies, but this year has seen a significant drop from last year. The net profit of Jiangling Motors dropped from 12.11% in the same period last year to 10.36%. ST Changhe was reduced from 26.25% to 16.15%. The parent company Changhe Automobile's Changan Automobile, the net interest rate rose from 4.89% in the same period last year to 5.66%.

Passenger car net rate: Yutong and Shuguang 5% or more, other 1%-2%

The main bus companies that have little or no passenger car or truck business are: Yutong Bus, Shuguang (Yanghai Bus), Ankai Bus, Zhongtong Bus, Jinlong Automobile and Yaxing Bus. Among them, except for Yutong Bus and Shuguang Stock, the net profit rates of the other four companies were all between 1% and 2%. The net profit margins of Ankai Bus, Zhongtong Bus and Jinlong Automobile in the third quarter of this year ranged from 1.5% to 2%. The loss of Yaxing bus in the third quarter of this year's net interest rate is only 1.01%.

Yutong Bus and Shuguang Co., Ltd. have net profit margins of more than 5% in the third quarter of this year. However, Yutong Bus was 1.2% smaller than the same period last year (6.35%), to 5.11%. The Shuguang shares increased by 3.69% from 1.4% to 5.08%.

Apart from the low net profit rate of most passenger car companies, a small portion of passenger car companies also experienced a decrease in operating income in the third quarter of this year. The operating income of Zhongtong Bus and Yaxing Bus decreased by 11.4% and 11.9% respectively compared with the same period of last year. Shuguang's revenue also decreased by 5.9%. Although Ankai bus revenue still rose slightly by 9.8%, net profit dropped by 26.8% year-on-year, resulting in a decrease in net margin of 0.8%.