Up to now, the 2011 annual report of automotive listed companies has been disclosed. According to the reports released by various car companies, among the 19 known automobile manufacturing listed companies, the profitability of most auto companies declined last year, except for the profitability of several individual car companies last year. Happening. At the same time, due to the overall slowdown in the automotive industry and the increase in the cost of auto companies, the profitability of auto companies has also generally declined in the past year.
The data shows that among the listed car companies, SAIC, Great Wall Motors, and Geely Auto reported that their net profit increased year-on-year, while the profits of other car companies fell, and the profitability of listed car companies was also seen. Polarization still stands out. In the commercial vehicle segment, in addition to Jiangling Motors, the profitability of truck-mounted manufacturing enterprises has further declined; in addition, it is different from that of truck-mounted companies. Last year, the annual net profit of coach manufacturing enterprises in China maintained a momentum of growth, and many companies reported a net increase. Profit growth. However, it is worth noting that, compared with the year-on-year increase in net profit in 2010, the increase in net profit of bus companies last year still decreased.
The polarization of passenger vehicle listed companies is reflected in the annual report published by the listed passenger car companies. Together with the Great Wall Motor Group, which has returned to A-shares, and the convertible-listed GAC Group, the SAIC, Great Wall Motors and Geely Automobile reported net profit growth, while net profit of other companies declined.
SAIC Group continued its profit momentum for the first half of the year and continued to be the company with the highest net profit among listed companies of domestic passenger cars. The company's annual report last year showed that the total operating income for the year reached 434.804 billion yuan, an increase of 18.89% year-on-year; the net profit attributable to shareholders of listed companies was 20.222 billion yuan, an increase of 23.38% year-on-year. SAIC Group stated that its profit growth mainly comes from the growth of its main business. Last year, the sales volume of domestically produced complete vehicles exceeded 4 million, and its sales volume increased by 12% year-on-year. In addition, Great Wall Motor, which has returned to the A-share market in the second half of the year, was driven by a surge in vehicle sales. Net profit growth was encouraging, and the net profit growth rate of 26.86% was the best result of the year-on-year increase in net profit of passenger vehicle listed companies. Last year, Great Wall Motor Company's net profit reached 3.426 billion yuan. According to an annual report published by Geely Automobile, the net profit of Geely Auto last year reached 1.716 billion yuan, an increase of 11% over the same period last year.
At the same time, although some car companies have not yet officially announced the annual report data, but from the performance of these companies announced the situation, the remaining 6 listed passenger car companies have expressed a decline in net profit. Changan Automobile and FAW Xiali's performance forecast shows that last year, Changan Automobile's net profit was approximately RMB 900 million to RMB 1.0 billion, which is expected to decline by 50.67% to 55.60%. FAW Xiali forecasted its net profit to decrease by approximately 45% to 75% over the same period of last year. The annual net profit was 0.75 billion yuan - 165 million yuan. The GAC Group’s report, which was listed on the stock exchange in March 2012, showed that the company’s 2011 total net profit was 4.272 billion yuan, which was lower than the target set at the beginning of the year. In addition, FAW's net profit fell the most, reaching 88.34%, and its annual net profit was only 217 million yuan.
Regarding the reasons for the decline in net profit, the above-mentioned car companies stated that they were mainly affected by the macroeconomic situation, the withdrawal of preferential policies for car purchases, and the policies for restricting purchases in some cities, making the domestic auto market more competitive. Under this situation, the profitability of the listed car companies has begun to show polarization. The stronger the stronger, the weaker the weaker. It is also worth noting that although some auto companies reported that their net profit increased last year, the profitability of China's passenger vehicle manufacturers has declined in 2011 as a whole. Compared to 2010, its net profit growth began to decline further, including SAIC.
The situation of commercial vehicle-listed passenger car companies is slightly different from that of passenger car listed companies. In the annual report published by commercial vehicle listed companies, the performance of each car company is also relatively general. From a product point of view, in addition to the net profit growth of Jiangling Motors, the net profits of all other truck manufacturers have fallen in the list of domestic truck-mounted companies; the bus industry companies have reported losses in addition to Yaxing Buses. Auto companies reported a year-on-year increase in net profit.
From a branch point of view, Jiangling Motors is the only truck manufacturer that reported a year-on-year increase in its annual net profit. In 2011, the company’s sales revenue reached 17.457 billion yuan, an increase of 11% over the previous year; net profit was 1.871 billion yuan, a year-on-year increase. 9.31%. Among other truck companies, Dongfeng Motor, Foton Motors, CNHTC, and JAC all experienced a year-on-year decline in their net profits. The above-mentioned four companies fell by 18.69%, 29.99%, 46.13%, and 46.88%, respectively.
In the bus-type listed car companies, the net profit of Jinlong Auto, Ankai Bus, Zhongtong Bus and Yutong Bus, both reported in the annual report, were 260 million yuan, 0.98 billion yuan, 0.51 billion yuan, and 1.181 billion yuan, respectively, an increase of 11.00 over the same period of the previous year. %, 33.82%, 28.02%, 36.00%. Yaxing's forecast stated that the company’s 2011 net profit was a loss.
As for the decline in the performance of truck-mounted companies, the annual report of the relevant car companies shows that the performance of the car companies is related to the overall market industry last year. In 2011, China's commercial vehicle market experienced a decline, with production and sales falling 9.94% and 6.31% year-on-year. In addition, despite the increase in net profit of listed companies of passenger cars, in terms of the overall situation, similar to the situation of listed companies with passenger cars, the profitability of commercial vehicle companies has generally declined.
According to industry analysis, the growth rate of the automotive market continued to decline last year, and the market has already bid farewell to the rapid growth. Under the situation of poor overall market, the price of auto products has been lowered, the high price of raw materials has fluctuated, and the cost of operation and management of the company has increased. The company's gross margin. For example, in the annual report of Jiangling Motors, although the company's net profit increased, its gross profit margin in 2011 was 24.7%, which was 1.1% lower than last year. Jiangling Motors claimed that this result was mainly due to price cuts and raw materials for some products. rise. These factors further reduce the profitability of auto companies.
Analysts believe that in the context of the structural adjustment of the auto industry and the expected slowdown in growth, there are structural differences in the production and sales of corporate products, which has caused the division of corporate profitability. With the further adjustment of the market, China's auto market will continue to face more pressure in the future. In the passenger vehicle industry, the passenger vehicle market has been affected due to more uncertainties in the market. In the field of commercial vehicles, due to the uncertainty of the national macro-policy at the end of the year, the markets for passenger cars and trucks should also be cautious.
The data shows that among the listed car companies, SAIC, Great Wall Motors, and Geely Auto reported that their net profit increased year-on-year, while the profits of other car companies fell, and the profitability of listed car companies was also seen. Polarization still stands out. In the commercial vehicle segment, in addition to Jiangling Motors, the profitability of truck-mounted manufacturing enterprises has further declined; in addition, it is different from that of truck-mounted companies. Last year, the annual net profit of coach manufacturing enterprises in China maintained a momentum of growth, and many companies reported a net increase. Profit growth. However, it is worth noting that, compared with the year-on-year increase in net profit in 2010, the increase in net profit of bus companies last year still decreased.
The polarization of passenger vehicle listed companies is reflected in the annual report published by the listed passenger car companies. Together with the Great Wall Motor Group, which has returned to A-shares, and the convertible-listed GAC Group, the SAIC, Great Wall Motors and Geely Automobile reported net profit growth, while net profit of other companies declined.
SAIC Group continued its profit momentum for the first half of the year and continued to be the company with the highest net profit among listed companies of domestic passenger cars. The company's annual report last year showed that the total operating income for the year reached 434.804 billion yuan, an increase of 18.89% year-on-year; the net profit attributable to shareholders of listed companies was 20.222 billion yuan, an increase of 23.38% year-on-year. SAIC Group stated that its profit growth mainly comes from the growth of its main business. Last year, the sales volume of domestically produced complete vehicles exceeded 4 million, and its sales volume increased by 12% year-on-year. In addition, Great Wall Motor, which has returned to the A-share market in the second half of the year, was driven by a surge in vehicle sales. Net profit growth was encouraging, and the net profit growth rate of 26.86% was the best result of the year-on-year increase in net profit of passenger vehicle listed companies. Last year, Great Wall Motor Company's net profit reached 3.426 billion yuan. According to an annual report published by Geely Automobile, the net profit of Geely Auto last year reached 1.716 billion yuan, an increase of 11% over the same period last year.
At the same time, although some car companies have not yet officially announced the annual report data, but from the performance of these companies announced the situation, the remaining 6 listed passenger car companies have expressed a decline in net profit. Changan Automobile and FAW Xiali's performance forecast shows that last year, Changan Automobile's net profit was approximately RMB 900 million to RMB 1.0 billion, which is expected to decline by 50.67% to 55.60%. FAW Xiali forecasted its net profit to decrease by approximately 45% to 75% over the same period of last year. The annual net profit was 0.75 billion yuan - 165 million yuan. The GAC Group’s report, which was listed on the stock exchange in March 2012, showed that the company’s 2011 total net profit was 4.272 billion yuan, which was lower than the target set at the beginning of the year. In addition, FAW's net profit fell the most, reaching 88.34%, and its annual net profit was only 217 million yuan.
Regarding the reasons for the decline in net profit, the above-mentioned car companies stated that they were mainly affected by the macroeconomic situation, the withdrawal of preferential policies for car purchases, and the policies for restricting purchases in some cities, making the domestic auto market more competitive. Under this situation, the profitability of the listed car companies has begun to show polarization. The stronger the stronger, the weaker the weaker. It is also worth noting that although some auto companies reported that their net profit increased last year, the profitability of China's passenger vehicle manufacturers has declined in 2011 as a whole. Compared to 2010, its net profit growth began to decline further, including SAIC.
The situation of commercial vehicle-listed passenger car companies is slightly different from that of passenger car listed companies. In the annual report published by commercial vehicle listed companies, the performance of each car company is also relatively general. From a product point of view, in addition to the net profit growth of Jiangling Motors, the net profits of all other truck manufacturers have fallen in the list of domestic truck-mounted companies; the bus industry companies have reported losses in addition to Yaxing Buses. Auto companies reported a year-on-year increase in net profit.
From a branch point of view, Jiangling Motors is the only truck manufacturer that reported a year-on-year increase in its annual net profit. In 2011, the company’s sales revenue reached 17.457 billion yuan, an increase of 11% over the previous year; net profit was 1.871 billion yuan, a year-on-year increase. 9.31%. Among other truck companies, Dongfeng Motor, Foton Motors, CNHTC, and JAC all experienced a year-on-year decline in their net profits. The above-mentioned four companies fell by 18.69%, 29.99%, 46.13%, and 46.88%, respectively.
In the bus-type listed car companies, the net profit of Jinlong Auto, Ankai Bus, Zhongtong Bus and Yutong Bus, both reported in the annual report, were 260 million yuan, 0.98 billion yuan, 0.51 billion yuan, and 1.181 billion yuan, respectively, an increase of 11.00 over the same period of the previous year. %, 33.82%, 28.02%, 36.00%. Yaxing's forecast stated that the company’s 2011 net profit was a loss.
As for the decline in the performance of truck-mounted companies, the annual report of the relevant car companies shows that the performance of the car companies is related to the overall market industry last year. In 2011, China's commercial vehicle market experienced a decline, with production and sales falling 9.94% and 6.31% year-on-year. In addition, despite the increase in net profit of listed companies of passenger cars, in terms of the overall situation, similar to the situation of listed companies with passenger cars, the profitability of commercial vehicle companies has generally declined.
According to industry analysis, the growth rate of the automotive market continued to decline last year, and the market has already bid farewell to the rapid growth. Under the situation of poor overall market, the price of auto products has been lowered, the high price of raw materials has fluctuated, and the cost of operation and management of the company has increased. The company's gross margin. For example, in the annual report of Jiangling Motors, although the company's net profit increased, its gross profit margin in 2011 was 24.7%, which was 1.1% lower than last year. Jiangling Motors claimed that this result was mainly due to price cuts and raw materials for some products. rise. These factors further reduce the profitability of auto companies.
Analysts believe that in the context of the structural adjustment of the auto industry and the expected slowdown in growth, there are structural differences in the production and sales of corporate products, which has caused the division of corporate profitability. With the further adjustment of the market, China's auto market will continue to face more pressure in the future. In the passenger vehicle industry, the passenger vehicle market has been affected due to more uncertainties in the market. In the field of commercial vehicles, due to the uncertainty of the national macro-policy at the end of the year, the markets for passenger cars and trucks should also be cautious.
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