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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 2020 CNYUSD
Revenue81,337.27M11,784.19M
Gross Profit7,354.32M1,065.49M
Operating income-2,432.16M-352.37M
Income before tax3,163.31M458.30M
Net income3,324.25M481.61M
EBITDA1,943.99M281.64M
Diluted EPS0.480.07
Dividends Per Share0.230.03
Total Assets120,915.80M18,489.22M
Total liabilities63,705.21M9,741.15M
Total equity53,410.19M8,166.94M
Operating cash flow11,776.73M1,706.22M
Currency in CNYCurrency in USD

Historical Data

 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 74,341.08M 76,938.18M 63,992.35M 68,107.18M 81,337.27M
Gross Profit 9,245.06M 6,827.75M 6,343.67M 6,469.03M 7,354.32M
Operating income -148.81M -1,772.13M -3,293.92M -2,501.31M -2,432.16M
Income before tax 786.10M 325.99M 990.10M -83.55M 3,163.31M
Net income 10,285.28M 7,137.23M 680.72M -2,646.71M 3,324.25M
EBITDA 2,137.74M 790.53M -189.95M 1,546.43M 1,943.99M
Diluted EPS 1.56 1.06 0.10 -0.39 0.48
Dividends Per Share 0.44 0.33 0.01 0 0.23
Total Assets 106,510.47M 106,125.11M 93,488.85M 97,617.05M 120,915.80M
Total liabilities 60,176.88M 54,792.19M 43,486.65M 52,700.03M 63,705.21M
Total equity 43,573.81M 47,598.69M 46,244.95M 44,028.31M 53,410.19M
Operating cash flow 12,085.72M 7,357.53M -2,489.82M 5,268.59M 11,776.73M
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 11,189.94M 11,384.38M 9,670.88M 9,856.52M 11,784.19M
Gross Profit 1,391.58M 1,010.28M 958.69M 936.20M 1,065.49M
Operating income -22.40M -262.21M -497.79M -361.99M -352.37M
Income before tax 118.32M 48.23M 149.63M -12.09M 458.30M
Net income 1,548.15M 1,056.08M 102.87M -383.03M 481.61M
EBITDA 321.77M 116.97M -28.70M 223.80M 281.64M
Diluted EPS 0.23 0.15 0.01 -0.05 0.07
Dividends Per Share 0.06 0.05 0.00 0 0.03
Total Assets 15,326.35M 16,296.85M 13,616.79M 14,013.96M 18,489.22M
Total liabilities 8,659.16M 8,414.03M 6,333.89M 7,565.64M 9,741.15M
Total equity 6,270.06M 7,309.38M 6,735.65M 6,320.73M 8,166.94M
Operating cash flow 1,819.16M 1,088.67M -376.27M 762.47M 1,706.22M

Valuation Measures

Dec 2020
PER32.27
ROA3.04%
ROE6.82%
Operating margin-2.99%
Profit margin4.08%

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 (45.6%)
  • China Securities Finance Corp. Ltd. (5.6%)
  • China Southern Asset Management Co., Ltd. (3.5%)
  • Invesco Great Wall Fund Management Co. Ltd. (Invt Mgmt) (1.8%)
  • China Investment Corp. (Investment Management) (1.3%)
  • Allianz Global Investors Asia Pacific Ltd. (1.1%)
  • Galaxy Gold Forex Securities Asset Management Co. Ltd. (0.9%)
  • JPMorgan Chase Bank, NA (Investment Management) (0.7%)
  • Norges Bank Investment Management (0.4%)
  • E Fund 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
  • Beiqi Foton Motor Co., Ltd. Class A
  • Great Wall Motor Co., Ltd. Class H
  • Guangzhou Automobile Group Co., Ltd. Class H
  • Hanma Technology Group Co., Ltd. Class A
  • China Zenix Auto International Ltd. Sponsored ADR
Last Updated on 22 Oct, 2021

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