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Consumer Durables

Chongqing Changan Automobile Co. Ltd.

  • 7.31 CNY
  • +0.09
  • +1.25%
  • China
    Aug 16, 2018
  • Ticker
    SHE(000625)
  • Prev. close
    7.22
  • Market cap (CNY)
    33,536.45M
  • Market cap (USD)
    4,862.17M
  • Shares
    4,802.64M

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 2017 CNYUSD
Revenue76,938.18M11,384.38M
Gross Profit7,011.70M1,037.50M
Operating income-1,588.18M-235.00M
Income before tax325.99M48.23M
Net income7,137.23M1,056.08M
EBITDA790.53M116.97M
Diluted EPS1.480.21
Dividends Per Share0.470.07
Total Assets106,125.11M16,296.85M
Total liabilities54,792.19M8,414.03M
Total equity47,598.69M7,309.38M
Operating cash flow7,357.53M1,088.67M
Currency in CNYCurrency in USD

Historical Data

 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 37,221.08M 50,232.35M 63,221.47M 74,341.08M 76,938.18M
Gross Profit 5,100.65M 6,603.08M 9,431.19M 9,424.34M 7,011.70M
Operating income -1,099.45M -313.26M 799.06M 615.14M -1,588.18M
Income before tax -1,159.08M -452.38M 572.02M 786.10M 325.99M
Net income 3,505.64M 7,561.08M 9,952.71M 10,285.28M 7,137.23M
EBITDA 505.68M 1,565.63M 2,699.81M 2,722.42M 790.53M
Diluted EPS 0.75 1.62 2.13 2.19 1.48
Dividends Per Share 0.09 0.25 0.61 0.62 0.47
Total Assets 53,579.94M 70,226.41M 89,774.73M 106,510.47M 106,125.11M
Total liabilities 32,266.37M 41,936.97M 52,774.81M 60,176.88M 54,792.19M
Total equity 18,778.35M 25,637.29M 34,385.18M 43,573.81M 47,598.69M
Operating cash flow 3,464.85M 11,514.46M 13,772.43M 12,085.72M 7,357.53M
 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 6,054.49M 8,152.35M 10,058.91M 11,189.94M 11,384.38M
Gross Profit 829.68M 1,071.63M 1,500.55M 1,418.56M 1,037.50M
Operating income -178.84M -50.83M 127.13M 92.59M -235.00M
Income before tax -188.53M -73.41M 91.01M 118.32M 48.23M
Net income 570.23M 1,227.10M 1,583.53M 1,548.15M 1,056.08M
EBITDA 82.25M 254.09M 429.55M 409.78M 116.97M
Diluted EPS 0.12 0.26 0.33 0.32 0.21
Dividends Per Share 0.01 0.04 0.09 0.09 0.07
Total Assets 8,850.48M 11,319.53M 13,825.11M 15,326.35M 16,296.85M
Total liabilities 5,329.84M 6,759.66M 8,127.20M 8,659.16M 8,414.03M
Total equity 3,101.86M 4,132.38M 5,295.24M 6,270.06M 7,309.38M
Operating cash flow 563.60M 1,868.71M 2,191.27M 1,819.16M 1,088.67M

Valuation Measures

Dec 2017
PER8.47
ROA6.71%
ROE15.65%
Operating margin-2.06%
Profit margin9.27%

Key executives

  • President & Director: Hua Rong Zhu
  • Vice President: Yuan Mingxue
  • Vice President: Li Wei
  • Secretary: Jun Li

Shareholders

  • China State-Owned Assets Supervision & Admn Commission (48.4%)
  • China Securities Finance Corp. Ltd. (5.8%)
  • AnBang Asset Management Co., Ltd. (1.6%)
  • China Investment Corp. (Investment Company) (1.4%)
  • China Asset Management Co., Ltd. (0.5%)
  • Harvest Fund Management Co., Ltd. (0.4%)
  • Da Cheng Fund Management Co., Ltd. (0.3%)
  • Somerset Capital Management LLP (0.1%)
  • Huatai-PineBridge Fund Management Co., Ltd. (0.1%)
  • Norges Bank Investment Management (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

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
  • FAW Car Co., Ltd. Class A
  • Hualing Xingma Automobile (Group) Co., Ltd. Class A
Last Updated on 16 Aug, 2018

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