The net profit of Changan Automobile in the first half is expected to reach 2 billion-3 billion yuan compared with the same period last year.

SMM: on July 14, Changan Automobile issued a half-year performance forecast for 2020. It is expected that the net profit in the first half of the year will reach 2 billion-3 billion yuan, compared with a loss of 2.24 billion yuan in the same period last year, a year-on-year increase of 189.28%. The basic earnings per share in the first two quarters of 2020 are expected to be 0.42 yuan per share to 0.62 yuan per share.

Photo source: screenshot of Changan Automobile performance Forecast

Changan Automobile pointed out that during the reporting period, the company's three non-recurrent profit and loss items contributed a net profit of about 5.275 billion yuan: 1. Chongqing Changan New Energy Automotive Technology Co., Ltd., a wholly-owned subsidiary, introduced strategic investors, and the company gave up the priority right to increase capital, increasing the net profit by about 2.1 billion yuan. Sell the equity of Changan Peugeot Citroen Motor Co., Ltd., increase the net profit by about 1.4 billion yuan; 3. The share price of the company's Ningde era stock rose, with a net profit increase of about 1.775 billion yuan.

According to Changan car sales data, Changan Automobile sold 194406 vehicles in June, up 38.1% from a year earlier, with a total of 830992 vehicles sold from January to June, achieving positive year-on-year growth. Among them, Changan sold 146561 Chinese brand cars in June, up 39.1% from the same period last year, and the blue whale family and champion family sold more than 70, 000 vehicles in June.

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