|May 29, 2017|
|May 29, 2017|
Currency in HKD
|Full time employees:||75,672|
Guangzhou Automobile Group Co. Ltd. engages in the research and development, manufacturing, sales and after-sales services of passenger vehicles, commercial vehicles, motorcycles, and auto parts. Its business activities include the import and export of automobile-related products; automobile leasing; disassembling; and automobile credit. It also engages in the provision of logistics services; finance leasing; commercial factoring; renewable resources; insurance; insurance brokerage services; and equity investment. The company was founded on June 6, 1997 and is headquartered in Guangzhou, China.
Guangzhou Automobile Group (GAC) is a Chinese automaker owned by the Guangzhou municipal government. It is a second-tier automaker, after China's three biggest automakers, namely First Automobile Works Group, Dongfeng Motor Group and SAIC Motor.
GAC sold about 1.17 million cars in 2014. It aims to increase car sales to 3 million units by 2020. Established in 1997, GAC is based in Guangzhou, Guangdong Province. Headed by Chairman Zhang Fangyou, it was listed on the Hong Kong Exchanges and Clearing (HKEx) in 2010 and the Shanghai Stock Exchange in 2012.
GAC has established joint ventures with several foreign automakers, including Honda Motor, Toyota Motor, Mitsubishi Motors and Isuzu Motors of Japan, and Fiat Chrysler Automobiles of the U.S. As Honda and Toyota cars account for about 40% and 30% of total sales respectively, sales of the two Japanese brands influence GAC's business performance.
To reduce its dependence on foreign brands, GAC has been focusing on the sales of its own brand cars in recent years, such as the Trumpchi, which now accounts for about 10% of total sales. The company has put a particular emphasis on sport utility vehicles.
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- Local currency
- US Dollar
|Income before tax||1,537.72M|
|Dividends per share||0.34|
|Operating cash flow||12,296.73M|
Currency in HKD
|Income before tax||198.09M|
|Dividends per share||0.04|
|Operating cash flow||1,584.12M|
Currency in USD
- Chairman & General Manager: Qing Hong Zeng
- Chief Financial Officer & Deputy General Manager: Dan Wang
- Executive Director & Deputy General Manager: Xing Ya Feng
- Chief-Accounting: Can Hui Li
- Westwood Global Investments LLC(9.5%)
- Guangzhou State-Owned Assets Supervision & Admin. Commission(9.3%)
- Templeton Asset Management Ltd. (Hong Kong)(4.9%)
- Massachusetts Financial Services Co.(4.9%)
- The Vanguard Group, Inc.(3.3%)
- BlackRock Fund Advisors(2.2%)
- Norges Bank Investment Management(1.3%)
- JPMorgan Investment Management, Inc.(0.8%)
- Robeco Institutional Asset Management BV(0.7%)
- RAM Active Investments SA(0.7%)
- Website: http://www.gagc.com.cn
- Address: GAC Center, No. 23 Xingguo Road, Guangzhou, 510623, China
- Phone: +86.20.8315.1089
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