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Consumer Durables

Chongqing Changan Automobile Co. Ltd.

Company Background

Chongqing Changan Automobile is a core company of Chongqing-based Changan Automobile Group. It is one of China's five biggest automakers, along with First Automobile Works Group, Dongfeng Motor, SAIC Motor and Chery Automobile. Its origins can be traced back to 1862. The company is under the umbrella of China South Industries Group, a state-owned arms manufacturer.

The company's strength is in small cars. In addition to its own-brand passenger vehicles, minivans, small trucks and SUVs, it also manufactures engines. Chongqing Changan Automobile operates joint ventures with such foreign carmakers as Suzuki Motor and Mazda Motor of Japan, Ford Motor of the U.S. and PSA Peugeot Citroen of France. Most taxis in Chongqing are small cars manufactured by a joint venture with Suzuki Motor.

It currently produces own-brand vehicles in Chongqing, Beijing and Hefei, Auhui Province. This April, the company decided to issue 6 billion yuan ($966 million) in new shares to its group companies and others as part of its push to boost production and sales of own-brand vehicles. It aims to produce and sell 1.17 million such vehicles a year from 2017.

Chairman Xu Liuping said his company will focus on developing new-energy vehicles, with the aim of raising the share of such cars to total production to 30% by 2020. The company sees Russia as an important overseas market, and also has production facilities in Iran and Brazil. It has about 80,000 employees.

Business Summary

Chongqing Changan Automobile Co. Ltd. engages in the manufacturing and distribution of automobiles, automobile engines and spare parts. The company's products include sedans CS series SUV, Raeton series, Eado series, Alsvin series and commercial car of Honor, Oulove, Changan Star series and Oushang MPV. The company was founded in 1862 and is headquartered in Chongqing, China.

Financial Highlights

Dec 2022 CNYUSD
Gross Profit19,310.73M2,867.76M
Operating income7,318.27M1,086.81M
Income before tax10,768.90M1,599.25M
Net income7,798.45M1,158.12M
Diluted EPS0.770.11
Dividends Per Share0.230.03
Total Assets146,048.55M21,009.04M
Total liabilities82,198.66M11,824.25M
Total equity62,858.10M9,042.11M
Operating cash flow7,417.20M1,101.50M
Currency in CNYCurrency in USD

Historical Data

 Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022
Revenue 63,992.35M 68,107.18M 81,337.27M 101,169.44M 117,151.01M
Gross Profit 6,343.67M 6,469.03M 7,782.86M 12,100.35M 19,310.73M
Operating income -3,293.92M -2,501.31M -1,685.56M 1,616.06M 7,318.27M
Income before tax 990.10M -83.55M 3,163.31M 2,895.78M 10,768.90M
Net income 680.72M -2,646.71M 3,324.25M 3,552.46M 7,798.45M
EBITDA -189.95M 1,546.43M 2,356.40M 5,647.29M 11,234.70M
Diluted EPS 0.07 -0.30 0.34 0.35 0.77
Dividends Per Share 0.01 0 0.20 0.13 0.23
Total Assets 93,488.85M 97,617.05M 118,265.18M 135,404.62M 146,048.55M
Total liabilities 43,486.65M 52,700.03M 63,705.21M 77,788.16M 82,198.66M
Total equity 46,244.95M 44,028.31M 53,410.19M 55,732.93M 62,858.10M
Operating cash flow -2,489.82M 5,268.59M 11,776.73M 23,957.15M 7,417.20M
 Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022
Revenue 9,670.88M 9,856.52M 11,784.19M 15,686.74M 17,397.68M
Gross Profit 958.69M 936.20M 1,127.58M 1,876.21M 2,867.76M
Operating income -497.79M -361.99M -244.20M 250.57M 1,086.81M
Income before tax 149.63M -12.09M 458.30M 449.00M 1,599.25M
Net income 102.87M -383.03M 481.61M 550.82M 1,158.12M
EBITDA -28.70M 223.80M 341.39M 875.63M 1,668.42M
Diluted EPS 0.01 -0.04 0.04 0.05 0.11
Dividends Per Share 0.00 0 0.02 0.02 0.03
Total Assets 13,616.79M 14,013.96M 18,083.91M 21,245.43M 21,009.04M
Total liabilities 6,333.89M 7,565.64M 9,741.15M 12,205.22M 11,824.25M
Total equity 6,735.65M 6,320.73M 8,166.94M 8,744.68M 9,042.11M
Operating cash flow -376.27M 762.47M 1,706.22M 3,714.65M 1,101.50M

Valuation Measures

Dec 2022
Operating margin6.24%
Profit margin6.65%

Key executives

  • President, General Manager & Director: Hua Rong Zhu
  • Vice President: Wei Li
  • Vice President: Ming Xue Yuan
  • Secretary: Jun Li


  • China State-Owned Assets Supervision & Admn Commission (41.6%)
  • China Securities Finance Corp. Ltd. (5.5%)
  • China Asset Management Co., Ltd. (0.9%)
  • GF Fund Management Co., Ltd. (0.6%)
  • Cinda Fund Management Co. Ltd. (0.4%)
  • Bosera Asset Management Co., Ltd. (0.3%)
  • ABC-CA Fund Management Co., Ltd. (0.3%)
  • Norges Bank Investment Management (0.2%)
  • The Vanguard Group, Inc. (0.1%)
  • Huatai-PineBridge Fund Management Co., Ltd. (0.1%)

Contact Details

  • Website:
  • Address: No. 260, Jian Xin East Road, Jiangbei District, Chongqing, 400023, China
  • Phone: +86.23.6759.4009

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Last Updated on 8 Jun, 2023

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