Chongqing Changan Automobile Co. Ltd.

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See more articles on 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	CNY	USD
Revenue	68,107.18M	9,856.52M
Gross Profit	6,469.03M	936.20M
Operating income	-2,501.31M	-361.99M
Income before tax	-83.55M	-12.09M
Net income	-2,646.71M	-383.03M
EBITDA	1,546.43M	223.80M
Diluted EPS	-0.55	-0.07
Dividends Per Share	--	--
Total Assets	97,617.05M	14,013.96M
Total liabilities	52,700.03M	7,565.64M
Total equity	44,028.31M	6,320.73M
Operating cash flow	5,268.59M	762.47M
	Currency in CNY	Currency in USD

Historical Data

CNY | USD

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 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 2015	Dec 2016	Dec 2017	Dec 2018	Dec 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

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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