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Carmakers see much stock in 2006

By Tu Lei (chinadaily.com.cn)
Updated: 2007-06-07 11:17

Special coverage: Auto Shanghai 2007
Related publication:
Related readings: Auto sales keep roaring Auto profits expected to slow

In the newly released 2006 annual reports, car companies saw some of them with an increased net profit;however, the problem of products in stock still exists.  

Recently, more than 10 A-share dominated auto companies released their annual report for 2006, and eight of the listed companies:ShanghaiAutomotive Co Ltd, Changan Automobile Co Ltd, Beiqi Foton Motor Co Ltd,AnhuiJianghuai Automobile Co Ltd, Dongfeng Automobile Co Ltd, FAW Car Co Ltd, Xiamen King Long Motor Co Ltd and China National Heavy Duty Truck Group Co Ltd, declared that the main business income reached or exceeded 10 billion yuan (US$1.31 billion).

Figures show there are six firms with increases in income and net profit. Shanghai Auto is on top, with a net profit of 1.43 billion yuan, up 29 percentyear-on-year, followed by Changan Auto with a net profit of 647 million yuan, up 173.18 percent. Donfent Auto is in third with a net profit of 434 million yuan, up 10.27 percent.

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The full text is available in the June Issue ofAutoChina.