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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 2019 CNYUSD
Revenue68,107.18M9,856.52M
Gross Profit6,469.03M936.20M
Operating income-2,501.31M-361.99M
Income before tax-83.55M-12.09M
Net income-2,646.71M-383.03M
EBITDA1,546.43M223.80M
Diluted EPS-0.55-0.07
Dividends Per Share----
Total Assets97,617.05M14,013.96M
Total liabilities52,700.03M7,565.64M
Total equity44,028.31M6,320.73M
Operating cash flow5,268.59M762.47M
Currency in CNYCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 63,221.47M 74,341.08M 76,938.18M 63,992.35M 68,107.18M
Gross Profit 9,293.63M 9,245.06M 6,827.75M 6,343.67M 6,469.03M
Operating income 357.13M -148.81M -1,772.13M -3,293.92M -2,501.31M
Income before tax 572.02M 786.10M 325.99M 990.10M -83.55M
Net income 9,952.71M 10,285.28M 7,137.23M 680.72M -2,646.71M
EBITDA 2,395.44M 2,137.74M 790.53M -189.95M 1,546.43M
Diluted EPS 2.13 2.19 1.48 0.14 -0.55
Dividends Per Share 0.61 0.62 0.47 0.01 --
Total Assets 89,774.73M 106,510.47M 106,125.11M 93,488.85M 97,617.05M
Total liabilities 52,774.81M 60,176.88M 54,792.19M 43,486.65M 52,700.03M
Total equity 34,385.18M 43,573.81M 47,598.69M 46,244.95M 44,028.31M
Operating cash flow 13,772.43M 12,085.72M 7,357.53M -2,489.82M 5,268.59M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 10,058.91M 11,189.94M 11,384.38M 9,670.88M 9,856.52M
Gross Profit 1,478.67M 1,391.58M 1,010.28M 958.69M 936.20M
Operating income 56.82M -22.40M -262.21M -497.79M -361.99M
Income before tax 91.01M 118.32M 48.23M 149.63M -12.09M
Net income 1,583.53M 1,548.15M 1,056.08M 102.87M -383.03M
EBITDA 381.13M 321.77M 116.97M -28.70M 223.80M
Diluted EPS 0.33 0.32 0.21 0.02 -0.07
Dividends Per Share 0.09 0.09 0.07 0.00 --
Total Assets 13,825.11M 15,326.35M 16,296.85M 13,616.79M 14,013.96M
Total liabilities 8,127.20M 8,659.16M 8,414.03M 6,333.89M 7,565.64M
Total equity 5,295.24M 6,270.06M 7,309.38M 6,735.65M 6,320.73M
Operating cash flow 2,191.27M 1,819.16M 1,088.67M -376.27M 762.47M

Valuation Measures

Dec 2019
PER--
ROA-2.76%
ROE-5.86%
Operating margin-3.67%
Profit margin-3.88%

Key executives

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

Shareholders

  • China State-Owned Assets Supervision & Admn Commission (50.3%)
  • China Securities Finance Corp. Ltd. (6.0%)
  • Allianz Global Investors Asia Pacific Ltd. (1.4%)
  • China Investment Corp. (Investment Management) (1.4%)
  • China Asset Management Co., Ltd. (0.7%)
  • Bosera Asset Management Co., Ltd. (0.6%)
  • E Fund Management Co., Ltd. (0.6%)
  • First Seafront Fund Management Co., Ltd. (0.6%)
  • CCB Principal Asset Management Co., Ltd. (0.5%)
  • Harvest Fund Management Co., Ltd. (0.5%)

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

  • Baoding Changan Bus Manufacturing Co., Ltd.
  • Chongqing Changfeng Jiquan Machinary 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 New Energy Automobile Co. Ltd.
  • Chongqing Chang'an Jinling Automobile Parts Co. Ltd.
  • Hebei Changan Automobile Co. Ltd.
  • Chongqing Chang'an Visteon Engine System Co., Ltd.
  • Changan Ford Mazda Automobile Corp.

Competitors

  • Dongfeng Automobile Co., Ltd. Class A
  • Beiqi Foton Motor Co., Ltd. Class A
  • Guangzhou Automobile Group Co., Ltd. Class H
  • Hualing Xingma Automobile (Group) Co., Ltd. Class A
Last Updated on 11 Aug, 2020

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