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Auto stocks show a strong trend the China Automobile Association expects car sales to grow by 11.3% in August compared with the same period last year.
Sep 7,2020 15:00CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM9 March 7: today, the stock price of the automobile plate is strong, Jingu shares pull up the sealing board, Jiangling Motor rose by the daily limit, BYD rose more than 5%, Great Wall Motor, SAIC Group and so on rose.

Since April this year, China's automobile industry has gradually recovered, and automobile production and sales have achieved positive growth. According to data from the China Automobile Association, the sales volume of the automobile industry in August is estimated to be 2.18 million, up 3.2% from the previous month and 11.3% from the same period last year. According to the breakdown of vehicle models, passenger cars and commercial vehicles increased by 4.4% and 37.5% respectively.

Semi-annual report performance of individual stocks

Jingu shares

Recently, Jingu shares released a report on the first half of 2020. During the reporting period, the company realized operating income of 1.374 billion yuan, an increase of 26.73% over the same period last year. The net profit of shareholders belonging to listed companies was 39.73 million yuan. According to the data of the first quarter report, the net profit of shareholders of listed companies in the first quarter was 41.34 million yuan. As a result, the company achieved a net profit of 1.61 million yuan in the second quarter, turning losses into profits.

Jingu said that it is expected to continue to make a profit in the third quarter of 2020, the COVID-19 epidemic will not have a significant impact on the long-term development of the company's business, and the company's operation will gradually resume throughout the year.

Earlier, Jingu also said that following the successful cooperation for Shanghai Volkswagen, American General Motors and other vehicle manufacturers, Jingu received a fixed-point agreement from the German Volkswagen (Volkswagen AG) Group on the project of local car factories in Germany, which also means that Jingu products have officially stepped into the door of local car factories in Europe.

Jiangling Motors: recently, Jiangling released production and sales figures, production in August was 25700, up 13.3% from the same period last year, and sales were 26600, up 20.93% from the same period last year. In the first eight months, the cumulative production of Jiangling Motor was 190300, up 9.39% from the same period last year, and the cumulative sales were 187800, up 6.9% from the same period last year.

Prior to this, Jiangling released a semi-annual report for 2020, saying that the company achieved operating income of 14.073 billion yuan in the first half of 2020, an increase of 2.56% over the same period last year, and a net profit of 208 million yuan belonging to shareholders of listed companies, an increase of 252.98% over the same period last year. The main reasons for the performance changes are: first, the increase in sales volume and the improvement of sales structure; second, continue to promote cost reduction and efficiency, and strictly control expenses.

BYD

In the first half of the year, BYD's net profit belonging to shareholders of listed companies was 1.662 billion yuan, up 14.29% from a year earlier.

Earlier, it was reported that buildings 4 and 5, the main production buildings of the Biyadining Township Power Battery production Base, which are the "blade battery" production base, have been capped, and it is expected that the equipment of the "blade battery" production line will be installed before October 15, and the first production line will be put into trial production by December 15; in April next year, four "blade battery" production lines in the first phase of the project will be put into full production.

New Times Securities said that affected by the epidemic, BYD's new models will be released in the second half of the year, including brand-new models, such as "Han" and "Song Plus", as well as modified models, such as "Tang", "e2", "E3" and so on. In addition, "Yuan" has been listed in the announcement catalogue and is expected to be listed in 20Q4. The sales of these models account for half of the company's pure electric vehicles, and the intensive launch of new models will greatly boost the company's sales of new energy vehicles.

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