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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 2021 CNYUSD
Revenue101,169.44M15,686.74M
Gross Profit12,100.35M1,876.21M
Operating income1,616.06M250.57M
Income before tax2,895.78M449.00M
Net income3,552.46M550.82M
EBITDA5,647.29M875.63M
Diluted EPS0.350.05
Dividends Per Share0.130.02
Total Assets135,404.62M21,245.43M
Total liabilities77,788.16M12,205.22M
Total equity55,732.93M8,744.68M
Operating cash flow23,957.15M3,714.65M
Currency in CNYCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 76,938.18M 63,992.35M 68,107.18M 81,337.27M 101,169.44M
Gross Profit 6,827.75M 6,343.67M 6,469.03M 7,782.86M 12,100.35M
Operating income -1,772.13M -3,293.92M -2,501.31M -1,685.56M 1,616.06M
Income before tax 325.99M 990.10M -83.55M 3,163.31M 2,895.78M
Net income 7,137.23M 680.72M -2,646.71M 3,324.25M 3,552.46M
EBITDA 790.53M -189.95M 1,546.43M 2,356.40M 5,647.29M
Diluted EPS 0.81 0.07 -0.30 0.34 0.35
Dividends Per Share 0.30 0.01 0 0.20 0.13
Total Assets 106,125.11M 93,488.85M 97,617.05M 118,265.18M 135,404.62M
Total liabilities 54,792.19M 43,486.65M 52,700.03M 63,705.21M 77,788.16M
Total equity 47,598.69M 46,244.95M 44,028.31M 53,410.19M 55,732.93M
Operating cash flow 7,357.53M -2,489.82M 5,268.59M 11,776.73M 23,957.15M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 11,384.38M 9,670.88M 9,856.52M 11,784.19M 15,686.74M
Gross Profit 1,010.28M 958.69M 936.20M 1,127.58M 1,876.21M
Operating income -262.21M -497.79M -361.99M -244.20M 250.57M
Income before tax 48.23M 149.63M -12.09M 458.30M 449.00M
Net income 1,056.08M 102.87M -383.03M 481.61M 550.82M
EBITDA 116.97M -28.70M 223.80M 341.39M 875.63M
Diluted EPS 0.12 0.01 -0.04 0.04 0.05
Dividends Per Share 0.04 0.00 0 0.02 0.02
Total Assets 16,296.85M 13,616.79M 14,013.96M 18,083.91M 21,245.43M
Total liabilities 8,414.03M 6,333.89M 7,565.64M 9,741.15M 12,205.22M
Total equity 7,309.38M 6,735.65M 6,320.73M 8,166.94M 8,744.68M
Operating cash flow 1,088.67M -376.27M 762.47M 1,706.22M 3,714.65M

Valuation Measures

Dec 2021
PER32.32
ROA2.80%
ROE6.50%
Operating margin1.59%
Profit margin3.51%

Key executives

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

Shareholders

  • China State-Owned Assets Supervision & Admn Commission (41.8%)
  • China Securities Finance Corp. Ltd. (5.6%)
  • China Southern Asset Management Co., Ltd. (3.5%)
  • China Asset Management Co., Ltd. (0.9%)
  • Galaxy Gold Forex Securities Asset Management Co. Ltd. (0.9%)
  • JPMorgan Chase Bank, NA (Investment Management) (0.7%)
  • GF Fund Management Co., Ltd. (0.4%)
  • ABC-CA Fund Management Co., Ltd. (0.4%)
  • Invesco Great Wall Fund Management Co. Ltd. (Invt Mgmt) (0.3%)
  • Shanghai Guotai Junan Securities Assets Management Co., Ltd. (0.3%)

Contact Details

  • Website:http://www.changan.com.cn
  • Address: No. 260, Jian Xin East Road, Jiangbei District, Chongqing, 400023, China
  • Phone: +86.23.6759.4009

Related Companies

  • Chongqing Changan New Energy Automobile Technology Co., Ltd.
  • Chongqing Chehemei Technology Co., Ltd.
  • Guangzhou Changan New Energy Automobile Co., Ltd.
  • Xiamen Changan New Energy Automobile Co., Ltd.
  • Fuqing Changan New Energy Automobile Co., Ltd.
  • Nanjing Changan New Energy Automobile Sales & Service
  • Nanjing Changan Connected Car Technology Co., Ltd.
  • Hefei Changan Yixing Technology Co., Ltd.
  • Hangzhou Changan Yixing Technology Co., Ltd.
  • Changan automobile investment (Shenzhen) Co., Ltd.
  • Changan Brazil Holdings Ltd.
  • Changan Automobile Russia Co. Ltd.
  • Changan US Research & Development Center, Inc.
  • Changan Japan Designing Center Co., Ltd.
  • Beijing Changan R&D Center Co., Ltd.
  • Chongqing Changan Europe Design Academy Co. Ltd.
  • Zhenjiang Demao Hairun Equity Investment Fund LP
  • Baoding Changan Bus Manufacturing Co., Ltd.
  • Chongqing Changfeng Jiquan Machinary Co., Ltd.
  • Chongqing Changan Automobile Supporting Service Co., Ltd.
  • Chongqing Changan Property Management Co., Ltd.
  • Changan UK R&D Centre Ltd.
  • Chongqing Xiyi Automobile Linkage Rod Co. Ltd.
  • Hefei Changan Automobile Co., Ltd.
  • Baoding Changan Bus Co., Ltd.
  • Chongqing Changan Connected Car Technology Co., Ltd.
  • Chongqing Changan New Energy Automobile Co., Ltd.
  • Chongqing Changan International Automobile Sales Co., Ltd.
  • Chongqing Chang'an Jinling Automobile Parts Co. Ltd.
  • Nanjing Changan Automobile Co., Ltd.

Competitors

  • Dongfeng Automobile Co., Ltd. Class A
  • Guangzhou Automobile Group Co., Ltd. Class H
  • Beiqi Foton Motor Co., Ltd. Class A
  • Great Wall Motor Co., Ltd. Class H
  • Hanma Technology Group Co., Ltd. Class A
  • Changzhou Nrb Corporation Class A
Last Updated on 30 Sep, 2022

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