With the listed companies entering the annual report release period, the release of the annual report of domestic listed auto companies also kicked off. Recently, automobile enterprises such as JAC, Ankai Bus, and Dongfeng Motor have successively issued announcements of pre-increase in performance. Since 2010, China's auto production and sales have all exceeded 18 million, an increase of 30% year-on-year, and the performance of listed companies has also greatly improved. Among them, Jianghuai Automobile's net profit is expected to increase by over 240%, Dongfeng Motor's net profit may increase by 90%, and Zhongtong Bus's growth may reach 100%. The analysis pointed out that the overall market trend is good, so that the car company annual report has become a beautiful landscape.
As of January 19, 2011, Dongfeng Automobile, Ankai Automotive, JAC, and Zhongtong Bus have issued announcements of advance performance in the domestic A-share listed auto companies. Among them, Jianghuai Automobile stated that its net profit attributable to owners of the parent company in 2010 was 335 million yuan, and the earnings per share was 0.26 yuan; Dongfeng Motor's estimated net profit attributable to the parent company was 317 million yuan, and the earnings per share was 0.16 yuan; Tong Bus announced that it expects to realize a net profit attributable to the parent company of 38 million yuan to 41 million yuan in 2010, an increase of 85% to 100% over the same period of 2009, and a per-share return of 0.16 yuan to 0.17 yuan, compared with 2009. Increased by 85%-100% over the same period. Ankai passenger car is expected to net profit of 73.24 million yuan, an increase of about 201.35%, basic earnings per share of about 0.239 yuan, an increase of 202.53%.
In all the pre-addition announcements, car companies attributed the growth of their performance to the continuous improvement of the macro economy and the rising demand for the automotive market. Dongfeng Motor stated that the increase in net profit in 2010 was mainly due to the substantial increase in sales of the company's main products over the previous year. The Ankai bus also said that the growth in performance was mainly attributable to the large increase in sales of passenger cars during the reporting period. Non-operating income was expected to be around 16.87 million, an increase of approximately 72% over the same period of the previous year, resulting in a substantial increase in net profit. Plus, while the performance of the joint venture company Anhui Ankai Foton Shuguang Axle Co., Ltd. significantly increased, the investment income was estimated to be about 21.89 million yuan, an increase of approximately 85% over the same period of last year.
In addition to the pre-increase in the performance of the listed companies mentioned above, with the continuous improvement in car sales, the economic efficiency of car companies continued to improve, and the technological transformation and investment in technological research and development increased. In November of last year, the accumulative total business income of enterprises above designated size in the automotive industry in the country totaled 3.9 trillion yuan, up 38.8% year-on-year; cumulative total profits reached 331.4 billion yuan, a year-on-year increase of 66.8%; cumulative total profits and taxes reached 511.9 billion yuan, a year-on-year increase. 54.8%. The 17 key enterprises (groups) accumulatively completed the industrial added value of 398.745 billion yuan, an increase of 45.4%; the total realized main business income was 1.9 trillion yuan, an increase of 41.5%; the cumulative total profit was 188.423 billion yuan, a year-on-year increase of 77.2%. The growth rate increased by 13.4 percentage points year-on-year; the total amount of profits and taxes realized was 307.36 billion yuan, an increase of 58% over the same period of last year, and the increase rate increased by 5 percentage points year-on-year.
The growth rate of the auto industry will maintain a 15% growth rate in the coming years. The poor economic development, wealth effects, and consumption upgrade factors in the East, Central, and West regions are the main drivers of demand growth in the stable development of passenger vehicles. Fixed asset investment and logistics will become the main thrust of heavy truck demand.
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