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
Financial Highlights
| Dec 2022 | CNY | USD |
| Revenue | 117,151.01M | 17,397.68M |
| Gross Profit | 19,310.73M | 2,867.76M |
| Operating income | 7,318.27M | 1,086.81M |
| Income before tax | 10,768.90M | 1,599.25M |
| Net income | 7,798.45M | 1,158.12M |
| EBITDA | 11,234.70M | 1,668.42M |
| Diluted EPS | 0.77 | 0.11 |
| Dividends Per Share | 0.23 | 0.03 |
| Total Assets | 146,048.55M | 21,009.04M |
| Total liabilities | 82,198.66M | 11,824.25M |
| Total equity | 62,858.10M | 9,042.11M |
| Operating cash flow | 7,417.20M | 1,101.50M |
| Currency in CNY | Currency in USD |
Historical Data
| Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 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 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 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 | |
| PER | 15.46 |
| ROA | 5.54% |
| ROE | 13.15% |
| Operating margin | 6.24% |
| Profit margin | 6.65% |
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 (41.6%)
- 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: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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- Chongqing Changan Connected Car Technology Co., Ltd.
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Competitors
- Dongfeng Automobile Co., Ltd. Class A
- Beiqi Foton Motor Co., Ltd. Class A
- Hanma Technology Group Co., Ltd. Class A
- Changzhou Nrb Corporation Class A
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