Asia300

Guangzhou Automobile Group Co. Ltd.

China

  • 1m
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Mar 27, 2017
Prev close: 12.66
Mar 27, 2017
Market cap:
Market cap(USD):
155,427.63M
20,010.89M
Shares: 6,465.82M

Currency in HKD

Company profile

Market(Ticker): HKG(2238)
Sector:
Industry:
Consumer Durables
Motor Vehicles
Full time employees: 67,205

Business summary

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.

Company background

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.

In the news

Financial highlights

Dec 2015

  • Local currency
  • US Dollar
Revenue 35,437.95M
Gross profit 4,379.86M
Operating income -482.02M
Income before tax -286.03M
Net income 5,220.52M
EBITDA 1,576.52M
Diluted EPS 0.81
Dividends per share 0.23
Total assets 80,162.78M
Total liabilities 31,821.71M
Total equity 46,060.52M
Operating cash flow 11,695.88M

Currency in HKD

Revenue 4,571.12M
Gross profit 564.95M
Operating income -62.17M
Income before tax -36.89M
Net income 673.39M
EBITDA 203.35M
Diluted EPS 0.10
Dividends per share 0.03
Total assets 10,343.38M
Total liabilities 4,105.94M
Total equity 5,943.17M
Operating cash flow 1,508.64M

Currency in USD

Valuation measures

Dec 2015

PER 8.48
ROA 6.60%
ROE 11.57%
Operating margin -1.36%
Profit margin 14.73%

Key executive

  • Chairman & General Manager: Qing Hong Zeng
  • Chief Financial Officer & Deputy General Manager: Dan Wang
  • Board Secretary, Executive Director & Deputy GM: Sa Lu
  • Executive Director & Deputy General Manager: Xing Ya Feng
  • Chief-Accounting: Can Hui Li

Share holders

  • 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.(3.2%)
  • BlackRock Fund Advisors(2.0%)
  • APG Asset Management NV(1.7%)
  • Norges Bank Investment Management(1.3%)
  • Principal Global Investors LLC(1.1%)
  • JPMorgan Investment Management, Inc.(0.8%)

Address

  • 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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