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In the field of passenger vehicles, FAW Cars suffered the most serious decline. In the first half of this year, it sold 9.17 million complete vehicles. The net profit attributable to listed shareholders was a loss of 45 million to 75 million yuan, and the loss per share was a loss of 0.03 to 0.05 yuan; The net profit of FAW Car was as high as 804 million yuan.
However, there are also companies that stand out from the market. FAW Xiali published a mid-year report on August 27. The company realized a net profit of 90.245 million yuan in the first half of this year, an increase of 96.05%; operating income of 4.046 billion yuan, a year-on-year decrease of 25.87%; earnings per share of 0.0566 yuan, an increase of 95.85%. The reason why such a good result was achieved was that FAW Toyota, which holds a 30% stake in the company, realized a net profit of 2.893 billion yuan, which contributed 807 million yuan of investment income to the company.
The Great Wall is also a special case. Benefiting from the rapid development of the SUV market, Great Wall sold 262,000 vehicles in the first half of the year, an increase of 20% year-on-year, of which export growth was as high as 46.4%. On this basis, the company's operating income was 18.287 billion yuan, an increase of 28.79%, net profit reached 2.383 billion yuan, an increase of 27.95%, becoming the biggest winner in the weak market.
Although the market performance of self-owned brands continued to be sluggish, the overall performance of Geely Automobile also grew steadily due to the support of product structure adjustment and continuous expansion of export volume. According to the report, Geely’s cumulative sales reached 222,000 units in the first half of the year, a year-on-year increase of 4.2%. The operating income was RMB11,177 million, an increase of 6.1% year-on-year, and the net profit attributable to owners of the company's equity was RMB1.02 billion, an increase of 8.7% year-on-year; earnings per share were RMB0.14, an increase of 8.5% year-on-year.
Recently, semi-annual reports of listed car companies have been released one after another. Judging from the published information, the proportion of companies with positive year-on-year growth in profit in the first half of the year was relatively small, and the performance of companies including Jianghuai Automobile, FAW Car, Haima Motors, and Dongfeng Automobile all declined sharply.
October 23, 2023