Since 2013, Changan Ford has worked out a "price list", signed a "price self-discipline agreement" and limited the lowest prices and network minimum quotations for downstream dealers during the auto show. To limit the minimum resale price of the whole vehicle for downstream dealers violates the provisions of the Anti-Monopoly Law on prohibiting operators from reaching a monopoly agreement with the counterparty to limit the minimum resale price of goods to a third party. Changan Ford was fined 4% of its sales in Chongqing last year.
After the news, Changan shares fell as much as 7.22%.
The latest quarterly report for 2019 shows that the company achieved operating income of 16.008 billion yuan, net profit of-2.096 billion yuan, earnings per share of-0.44 yuan, price-earnings ratio of-11.62.
The main business of Changan Automobile is the development, manufacture and sale of automobile and automobile engine series products. According to the latest periodic report, the number of shareholders (households) of the company was 203300, an increase of 7.3 per cent over the previous reporting period.
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