The former richest man's profit plunged 10 times in the “measurable department” and he was well versed in Chinese car companies’ money-making techniques.

From the end of October to the end of October, the traditional peak season of China’s automobile market “Jin 9 Silver 10” has come to an end. The smell of gunpowder from the end of the year is also getting stronger. Whoever is the winner of the 2017 automobile market, dark horse or loser will undoubtedly suspend the appetite of the automobile circle. . Before the annual answer was announced, the performance of each car company in the first three quarters was equally eye-catching.

Recently, a number of Chinese listed car companies have announced the first three quarterly financial reports. From the data, Great Wall Motor's net profit continued to fall by 60.05% in the first three quarters after the profit in the first half of the year, while Zotye’s net profit growth of 1,039.82% was intriguing.

What kind of wealth code is concealed behind these financial reports? The headline App for you knows the secret behind the financial report numbers.

Great Wall: The "most profitable car company" label is not

Following the 50.87% decline in net profit in the first half of this year, Great Wall Motors continued its decline in net profit in the third quarter. Its third-quarter financial report showed that operating income from January to September reached 63.429 billion yuan, a year-on-year decrease of 0.04%; net profit attributable to shareholders of listed companies was 2.897 billion yuan, a year-on-year drop of 60.05%.

In fact, Great Wall Motor's performance is relatively stable in terms of sales volume. In September, it sold 102,037 vehicles in a single month, an increase of 4.46% year-on-year. In the first three quarters, it sold 706,000 vehicles, a slight increase of 2.25% year-on-year.

The Great Wall did not explain why the net profit fell sharply in the first three quarters. However, in its mid-year announcement, it was mentioned that “the Group's profit-making customers promote sales of existing products, increase brand and new product promotion efforts, and increase R&D investment”.

In addition, the Headline App understands that “the promotion of branding and product promotion through the Internet, TV, and outdoor media, resulting in an increase in advertising fees” was also considered by the Great Wall as the cause of the decline in net profit.

Especially after the launch of the WEY brand, the Great Wall's practice of “not advertising in the media” has gradually been broken. According to the data, the advertising and media service fees of Great Wall Motor in the first half of this year amounted to 260 million yuan, a sharp increase of 148% compared with the same period of last year. Travel expenses amounted to 13.86 million yuan, an increase of 57.5%.

However, in any case, with the decline in profitability, the label of the “most profitable car companies” has already been torn from the Great Wall.

Zotye: Significant decline in sales but profits soared

The announcement from Zotye Automobile showed that in the first three quarters of this year, its operating income was 5.81 billion yuan, an increase of 831.13% over the same period last year, of which the net profit attributable to the shareholders of the listed company was 258 million yuan, an increase of 982.85% year on year. The net profit after deducting non-recurring gains and losses attributable to shareholders of listed companies reached 255 million yuan, an increase of 1,039.82% year-on-year.

Contrary to the sudden increase in profits, Zotye’s sales fell sharply in the first three quarters. Data show that in the first three quarters of this year, its cumulative production and sales were 182,154 vehicles and 183,394 vehicles, respectively, down 20.52% and 19.91% year-on-year, respectively, and only completed 45.84% of the annual sales target of 400,000.

By comparison, the “Logic of Wealth Growth” of Zotye Automotive is intriguing.

In fact, in early April of this year, Zotye completed a major asset restructuring and acquired 100% equity of Yongkang Zhongtai Automobile Co., Ltd. through the issuance of shares to purchase assets. This was interpreted as “a direct result of a substantial increase in the company’s net profit”. the reason.

Among them, Yongkang Zhongtai Automobile Co., Ltd. in 2017 is expected to complete a net profit of RMB 1.43.15 billion, exceeding its performance commitment to complete the target of 1.14 billion yuan in net profit attributable to the parent company in 2017. After deducting the net profit of Yongkang Zhongtai Auto in the first quarter and the amount of amortization for the acquisition of Yongkang Zhongtai to add value this year, it is expected that the listed company's net profit attributable to the parent company for the year 2017 will be 12.59-13.62 billion yuan.

As the Chinese auto market has gradually entered the "new normal," what will the "most mimicry" car company follow?

Chang'an: 25% of performance is still spent billions of research and development

According to an announcement from Changan Automobile, its operating income for the first three quarters of the year was 51.431 billion yuan, a year-on-year decrease of 4.06%; net profit attributable to shareholders of listed companies was 5.811 billion yuan, a year-on-year decrease of 24.92%. Among them, from July to September, the company achieved a profit of 1.190 billion yuan, a decrease of 47.07% year-on-year.

In terms of sales volume, the data showed that the first three quarters of production and sales reached 1.993 million and 2.0582 million vehicles, respectively, down 6.07% and 6.30% year-on-year respectively.

The reasons given by Chang'an are: “The company’s external credit sales increased; the balance of prepayments increased significantly compared to the beginning of the year, mainly due to the increase in advance payment for imports such as transmissions and steel products; the increase in inventory balance over the beginning of the year was mainly due to Increased inventory items."

However, in the face of temporary difficulties, the relevant person in charge of Changan Automobile has expressed "confidence." It is worth noting that, not long ago, it issued a new energy plan called “Shangri-La Plan” and plans to invest 100 billion yuan in the entire industrial chain by 2025 to promote new energy strategies and build a variety of products including cars, SUVs, and MPVs. Three dedicated platforms for new energy vehicles have also released three new energy vehicles.

GAC: Independent joint venture goes hand in hand

According to an announcement from GAC Group, its operating income in the first three quarters of this year was 51.631 billion yuan, an increase of 50.15% over the same period of last year; the average operating income of the automobile industry grew by 1.59%; the net profit attributable to shareholders of listed companies was 8.962 billion yuan, With an increase of 59.79%, the average net profit growth rate of the auto vehicle industry is -24.57%, and the company's earnings per share is 1.38 yuan.

Judging from the performance of various companies under the GAC Group, sales of GAC Passenger Vehicles, GAC GAC Fick and GAC Mitsubishi have significantly increased, reaching 380,000 units and 150,000 units and 80,000 units, respectively, which represented an increase of 46%, 48% and 199 respectively year-on-year. In addition, Guangqi Honda and GAC Toyota have performed steadily. In the first three quarters, their sales volume reached 500,000 vehicles and 340,000 vehicles, respectively, which represented a year-on-year increase of 15% and 8% respectively.

On the whole, the development of the various sections of the GAC Group is relatively balanced, showing a good momentum of self-directed and joint ventures.

Jianghuai: The net profit dropped another 80% in the first three quarters

Not long ago, Jianghuai Automobile released a pre-decrease announcement for the first three quarters of 2017, saying that in January-September this year, Jianghuai achieved a net profit attributable to shareholders of listed companies that would be reduced by about 80% compared with the same period of last year. The data shows that its net profit attributable to shareholders of listed companies for the same period last year was 817.5 million yuan.

In this regard, the main reason given by JAC was: "The subsidy for new energy vehicles has declined and sales of passenger cars have fallen."

According to statistics, in the first three quarters of this year, the cumulative sales volume of Jianghuai Automobile was 382,700 units, a year-on-year decline of approximately 20%. Its main product, SUV, continued to decline sharply. In the first three quarters, it sold 90,545 vehicles, a year-on-year decrease of 54.62%. MPV achieved a slight increase. The sales from January to September achieved a year-on-year increase of 1.30%; only the sedan segment achieved considerable growth, with a sales volume of 23,042 units. , a year-on-year increase of 27.37%.

In the field of new energy, the data shows that in June of this year, after Jianghuai took control of the public, its competitiveness in the field of electrification, such as R&D, design, and production, has been enhanced. The cumulative sales volume of pure electric passenger vehicles in the first three quarters of the year increased by 27.64% year-on-year, of which sales in July, August and September respectively surged 139.11%, 101.94%, and 81.44%.

However, according to Jianghuai's previous announcement, Jianghuai Automobile received a total of more than 3.5 billion yuan in subsidies for new energy vehicles last year. This figure dropped sharply to 124 million in the first half of this year.

According to media analysis, “With Jianghuai decisively giving up the sedan four years ago, we will focus on commercial vehicles and catch up with the small SUV vents, and then get rid of the losses.” This is similar to the fact that Jianghuai was standing in the direction of development. crossroads.

FAW Car: Net profit jumped 140% in the first three quarters

FAW Car has announced its third-quarter financial report recently. The data shows that in the first three quarters, it achieved revenue of 19.827 billion yuan, an increase of 32.17% year-on-year, and net profit attributable to parent company owners was 291 million yuan, compared to the same period of last year - 7.16 billion yuan, a year-on-year increase of 140.69%.

This means that in the first half of this year, after turning losses into losses, FAW Car also continued to increase its net profit in the third quarter. In this regard, the main reason given by FAW Car was: “In the reporting period, the company effectively promoted various tasks, continuously improved product development and marketing capabilities, and achieved market breakthroughs in its own brand Pentium X40 and the continued success of its co-branded dual-star models. Hot sales, business performance to achieve profitability."

The data shows that in the first three quarters of this year, FAW Cars achieved a total sales of 169,000 vehicles, an increase of 28.2% over the same period of last year.

Coincidentally, on the same day as the announcement of the third quarter financial report, FAW Car also announced a new personnel appointment: Liu Changqing took over as the general manager of the company.

Some media analysis pointed out that this is "Xu Liuping, chairman of the new Nom Group, revitalized the strategic adjustment under the FAW Group." When Xu Liuping first appeared publicly after he took office, he said: "As the eldest son of the Republic, FAW Group will strengthen its strategy of walking on two legs, accelerate the pace of development of its own brand, and revitalize the 'first car, the first brand' of the glory. ”

After the financial reports of the six Chinese car companies mentioned above came out, including the Geely Automobiles with a high degree of concern and the large-scale SAIC Group, etc., and before the end of the official war at the end of the year, the first three quarters of all "Daban-class" Chinese auto companies. The financial report is enough to generate countless associations in the industry. Car Headline App will continue to pay attention.