JAC's first three quarters revenue 35.5 billion yuan to make 200 million new energy vehicles subsidies

On October 27, 2017, Anhui Jianghuai Automobile Group Co., Ltd. (hereinafter referred to as “JAC Auto”) released its third quarterly report in 2017. According to the report, JAC's revenue for the first three quarters was 35.542 billion yuan, a year-on-year decrease of 6.79%. Among them, the net profit attributable to the shareholders of the listed company was 219 million yuan, a year-on-year decrease of 73.24%.

The sales and sales report of JAC Automotive in September showed that the company sold a total of 382,743 vehicles and chassis in the first nine months of the year, a decrease of 19.71% year-on-year. In the commercial vehicle business, 41988 units were sold in September before heavy trucks, up 36.47% year-on-year; sales of light trucks were 145,450 units, down 3.43% year-on-year; second-tier Jianghuai Xingrui sales were 3,186 units, up 35.57% year-on-year; bus chassis sales were 10,548 units. , a year-on-year decrease of 11.29%; large passenger cars sold 1,566 units, a year-on-year decrease of 2.85%; medium-sized passenger cars sold 1,980 vehicles, a year-on-year decrease of 30.38%; light passenger vehicles sold 2,497 units, an increase of 19.07%.

Sales volume of commercial vehicles increased or decreased, but the decline in passenger vehicle sales was the main factor that caused JAC's overall sales decline in the first nine months of the year and net profit dropped by 73.24%. In the report, JAC also pointed out the reasons for the decline: the net profit attributable to owners of the parent company decreased by 73.24% over the same period of last year, which was mainly due to the subsidy for new energy vehicles and the decline in sales volume of passenger cars; The net cash flow decreased by 4.615 billion yuan from the same period of last year, which was mainly due to the decrease in sales volume in the current period.