According to the economic index report of key enterprises (groups) of the automobile industry in the first quarter of 2006, the key enterprises (groups) of the automobile industry maintained a good momentum of economic development, and production and sales were booming. The major economic indicators showed a rapid growth, and the comprehensive index of industrial economic efficiency was significantly higher than that of the same period of last year.

I. The overall economic performance is growing rapidly, and the comprehensive index of industrial economic efficiency is obviously higher than the level of the same period of last year

In the first quarter, the comprehensive index of industrial economic benefits of key enterprises (groups) of the automobile industry was 300.48, which was an increase of 77.02 percentage points compared with 223.46 of the same period of last year. Judging from the composition of the comprehensive index of industrial efficiency of key enterprises (groups) of the automobile industry, the indicators are better than last year's level compared with the same period of last year.

Second, the rapid growth of output indicators increased by nearly 40% year-on-year

In the first quarter, the key industrial companies (groups) of the automobile industry completed a total of 36.737 billion yuan in industrial added value, an increase of 38.21% year-on-year, with an increase of 101.56 billion yuan, which is higher than the 21.10% growth rate of industrial added value of industrial enterprises in China (21.71%). The accumulated industrial output value was 162.07 billion yuan, an increase of 39.14% over the same period of last year, with an increase of 45.594 billion yuan; the accumulated industrial output value was 158.709 billion yuan, an increase of 39.23% over the same period of last year, with an increase of 44.718 billion yuan.

In the first quarter, the key enterprises (groups) of the automotive industry had a good connection between production and sales. The ratio of sales to sales was 97.92%, which was basically the same as the same period of last year.

3. Main business income continued to show rapid growth

In the first quarter, the key enterprises (groups) of the automotive industry realized a total of 158.725 billion yuan in main business income, a year-on-year increase of 32.55% and an increase of 38.975 billion yuan, an increase of 11.58 percentage points from January to February.

From the specific situation of the main business income realized by key enterprises (groups) of the automobile industry, the income from main operations of key enterprises (groups) in the first quarter of this year was significantly better than that of the same period of last year. Twelve companies achieved a year-on-year increase in main business revenue, and two companies decreased year-on-year; while in the same period of last year, seven companies achieved an increase in main business revenue, and seven companies decreased. Among them: Chang'an, SAIC and Guangzhou Group's main business revenue growth rate of more than 50%, the year-on-year increase of 70.57%, 58.91% and 57.88%, but the rate of increase than the decline in January to February is also greater, respectively, down 23.95, 18.73 and 17.55 percentage points; the revenue growth rate of main business of Nanjing Automobile Group, FAW Group and CNHTC Group was 37.91%, 28.64% and 25.43%, respectively, and the increase rate was 13.68, 22.57 and 1.68, respectively, from January to February. 7.43 percentage points; Beijing and JAC Group achieved a growth rate of main business income of 37.24% and 15.18%, an increase of 1.12 and 4.71 percentage points over January to February respectively; Jincai achieved a 9.18% year-on-year increase in main business revenue. From January to February, negative growth changed to positive growth; Dongfeng Company, Changhe Company and Hafei Company achieved main business revenue growth rates of 6.98%, 5.97%, and 4.00%, with an increase rate of 2.82 and 0.55, respectively, from January to February. 7.52%; Qingling Company and Southeast Company achieved a year-on-year decrease in main business revenue by 3.39% and 14.85%, respectively, and the decrease rate was 4.11 percentage points and 6.68 percentage points lower than that in January-February.

Fourth, profits, profits and taxes, rapid growth of corporate profits

In the first quarter, the major enterprises (groups) of the automotive industry realized a rapid growth in profits, total profits and taxes, but the growth rate began to fall as the base number of the same period last year increased. In the first quarter, the key enterprises (groups) of the automobile industry realized a total profit of 7.514 billion yuan, an increase of 1.04 times year-on-year and an increase of 3.839 billion yuan, an increase of 144.26 percentage points from January to February. The total amount of profits and taxes realized was 18.484 billion yuan. The growth rate was 80.35%, with an increase of 8.235 billion yuan, an increase of 49.62 percentage points from January to February. Among them, the main business tax and surcharges were 4.854 billion yuan, a year-on-year increase of 65.52% and an increase of 1.92 billion yuan; VAT payable was 6.116 billion yuan, an increase of 62.97% over the same period of last year, with an increase of 2.475 billion yuan.

From the specifics of realizing the profits of key enterprises (groups) in the automotive industry, the profitability of most enterprises is satisfactory. The growth rate of Guangzhou Group's total profit realized in the key enterprises (groups) is particularly strong. In the first quarter, the cumulative profits of Guangzhou Group increased by 1.25 times year-on-year, an increase of 78.31 percentage points from January to February; SAIC and Changan achieved The profit growth rate also more than doubled, with year-on-year growth of 1.11 and 1.02 times respectively, but the increase rate decreased by 121.31 and 46.82 percentage points respectively from January to February. The total profit of Dongfeng Company and FAW Group increased by 74.05% and 33.15%, respectively. The growth rate increased by 6.09 and 33.15 percentage points from January to February. The growth of total profits of Qingling, JAC, and Beijing companies was 16.88%, 10.82%, and 5.87%, respectively. The negative growth of the three companies from January to February Positive growth; heavy truck group realized profit growth of 11.76% year-on-year, and the increase rate dropped by 167.78 percentage points compared with January to February; Hafei's total profit decreased by 44.61% year-on-year from January to February. Positive growth turns negative.

Gold Cup Company, Nanjing Automobile Group, Southeast Company and Changhe Company are still losing money. The losses of Jinbei Co. and Changhe Co. have increased from January to February; the losses of South East Co. are basically the same as those of January to February; the losses of Nanjing Auto Group have decreased from January to February.

V. Receivables and finished goods inventory have increased rapidly

At the end of March, the net amount of accounts receivable of key enterprises (groups) of the automobile industry was 41.844 billion yuan, a year-on-year increase of 27.86%, and an increase of 9.17 billion yuan in funds, an increase of 9.16 percentage points from the end of February; at the end of March, key enterprises in the automobile industry ( The Group's inventory of finished goods inventory was 29.849 billion yuan, an increase of 22.56% year-on-year, and the increase in the use of funds was 5.495 billion yuan, an increase of 23.68 percentage points from the end of February.

At the end of March, the proportion of net accounts receivable and finished product inventory accounts for current assets of key enterprises (groups) of the automotive industry accounted for 23.09%, which was 1.83 percentage points higher than that at the end of February.


VI. Analysis of some enterprises

1.*ST Yaxing has been suspended for three consecutive years of losses

On May 18, *ST Yaxing issued an announcement to suspend the listing of shares. On May 12, Yangzhou Yaxing Bus Co., Ltd. (hereinafter referred to as "the company") received the relevant documents from the Shanghai Stock Exchange. As the company's annual report disclosed in 2005 showed that the company has suffered consecutive losses for the last three years, according to relevant regulations, the company A The stocks were suspended from listing on May 18, 2006. If the company's 2006 annual report continues to lose money, according to regulations, the company's stock will be terminated.

2.GGC announces new assets acquisition announcement

Recently, G.C. Truck Dong and the board of supervisors announced the resolution that Sinotruk Group Jinan Truck Co., Ltd. (hereinafter referred to as "the company") and China Heavy-Duty Truck Group Co., Ltd. (hereinafter referred to as "China National Heavy Duty Truck Group") signed the "Additional Shares" Asset Acquisition Agreement, the company intends to acquire the assets of CNHTC Group with additional shares. The scope of assets acquired includes CNHTC Group Jinan Bridge Box Co., Ltd. (hereinafter referred to as “bridge box company”) held by CNHTC Group. ) 51% of the equity; HOWO project assets, that is, part of the operating assets (including some machinery and equipment, buildings, land, etc.) and liabilities of the HOWO project owned by CNHTC; other land assets, which are occupied by other than the HOWO project assets. Of the 132,950 square meters of land, other land leased by the company to CNHTC amounted to approximately 306,997 square meters.

After consultation between the company and CNHTC, the purchase price of 51% of Qiaohe Company’s equity was based on its assessment value of RMB 2609.15 million, and its comprehensive profitability was determined to be RMB 306.8506 million; the acquisition price of the HOWO project assets was Its assessment value is RMB 145,519,900,000; the acquisition price of other land assets is determined by its appraised value of RMB 97.62 million. The purchase price of the above three assets was determined at RMB 550 million.

After the approval of the company's relevant general meeting of shareholders, CNHTC reorganized its assets and used its operating assets related to axles, clutches and equipment power as capital to jointly set up CNHTC Group Jinan Bridge Box Co., Ltd. with other companies. The company's 51% stake and other assets were transferred to the company.

3. Zhongtong Bus announced the first quarter of 2006

On April 27, Zhongtong Bus announced the first quarterly report of 2006. In the first quarter of 2006, Zhongtong Bus Co., Ltd. earned a profit of 0.006 yuan per share, earnings per share (deducted) of 0.007 yuan, net assets of 1.97 yuan per share, adjusted net assets per share of 1.97 yuan, and a return on net assets of 0.3%. After deducting non-recurring gains and losses, the net profit was 1618006.51 yuan, the main business income was 157321675.89 yuan, the net profit was 1410422.29 yuan, and the shareholders' equity was 4706089008.

4.G Jiangling announced the first quarter of 2006

On April 26, G Jiangling announced its first quarterly report for 2006. In the first quarter of 2006, Jiangling Motors Co., Ltd. earned 0.26 yuan per share, earnings per share (deducted) 0.26 yuan, net assets per share 3.23 yuan, adjusted net assets per share 3.13 yuan, net assets yield 7.93%, deducted After non-recurring gains and losses, the net profit was 220,524,472.91 yuan, the main business income was 1,843,315,919.45 yuan, and the net profit was 220,849,472.91 yuan, an increase of 173% over the same period of last year.

5. Hunan Torch A announced the first quarter of 2006

On April 25, Hunan Torch A announced its first quarterly report for 2006. In the first quarter of 2006, Hunan Torch Automotive Group Co., Ltd. earned 0.013 yuan per share, earnings per share (deducted) of 0.009 yuan, net assets per share of 1.709 yuan, adjusted net assets per share of 1.5591 yuan, and return on net assets of 0.74%. The net profit after deducting non-recurring gains and losses was 864,2747.4 yuan, the main business income was 2,337,709,753.94 yuan, the net profit was 11,761,157.44 yuan, and the shareholders' equity was 15,598,834,114 yuan.

6. Changhe shares announced the first quarter of 2006

On April 24, Changhe announced the first quarterly report for 2006. In the first quarter of 2006, Changhe Automotive Co., Ltd. (hereinafter referred to as "the company") earned per share of -0.04 yuan, earnings per share (deducted) -0.04 yuan, net assets per share of 3.06 yuan, adjusted net assets per share 2.95 yuan The return on net assets was -1.41%. After deducting non-recurring gains and losses, the net profit was -17,638,731.64 yuan, the main business income was 942,335,483.89 yuan, the net profit was -17,742,447.08 yuan, and the shareholders' equity was 1,25,604,7308.7 yuan.

Due to the large number of new equipment of the company Jiujiang project put into full use, the company's depreciation fees and other costs have risen sharply, and the company's new products just put on the market, production and sales volume is low, resulting in a loss of 17.3714 million yuan in the first quarter. In the first half of the year, with the increase in the production and sales volume of new products and the continuous launch of new models, the profitability of the company will be improved, but it is not ruled out that losses may occur in the first half of the year. However, the company will still strive to achieve full-year profit in accordance with the requirements of the board of directors.




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