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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 2018 CNYUSD
Revenue63,992.35M9,670.88M
Gross Profit6,343.67M958.69M
Operating income-3,293.92M-497.79M
Income before tax990.10M149.63M
Net income680.72M102.87M
EBITDA-189.95M-28.70M
Diluted EPS0.140.02
Dividends Per Share0.010.00
Total Assets93,488.85M13,616.79M
Total liabilities43,486.65M6,333.89M
Total equity46,244.95M6,735.65M
Operating cash flow-2,489.82M-376.27M
Currency in CNYCurrency in USD

Historical Data

 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 50,232.35M 63,221.47M 74,341.08M 76,938.18M 63,992.35M
Gross Profit 6,497.28M 9,293.63M 9,245.06M 6,827.75M 6,343.67M
Operating income -652.26M 357.13M -148.81M -1,772.13M -3,293.92M
Income before tax -452.38M 572.02M 786.10M 325.99M 990.10M
Net income 7,561.08M 9,952.71M 10,285.28M 7,137.23M 680.72M
EBITDA 1,332.43M 2,395.44M 2,137.74M 790.53M -189.95M
Diluted EPS 1.62 2.13 2.19 1.48 0.14
Dividends Per Share 0.25 0.61 0.62 0.47 0.01
Total Assets 70,226.41M 89,774.73M 106,510.47M 106,125.11M 93,488.85M
Total liabilities 41,936.97M 52,774.81M 60,176.88M 54,792.19M 43,486.65M
Total equity 25,637.29M 34,385.18M 43,573.81M 47,598.69M 46,244.95M
Operating cash flow 11,514.46M 13,772.43M 12,085.72M 7,357.53M -2,489.82M
 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 8,152.35M 10,058.91M 11,189.94M 11,384.38M 9,670.88M
Gross Profit 1,054.46M 1,478.67M 1,391.58M 1,010.28M 958.69M
Operating income -105.85M 56.82M -22.40M -262.21M -497.79M
Income before tax -73.41M 91.01M 118.32M 48.23M 149.63M
Net income 1,227.10M 1,583.53M 1,548.15M 1,056.08M 102.87M
EBITDA 216.24M 381.13M 321.77M 116.97M -28.70M
Diluted EPS 0.26 0.33 0.32 0.21 0.02
Dividends Per Share 0.04 0.09 0.09 0.07 0.00
Total Assets 11,319.53M 13,825.11M 15,326.35M 16,296.85M 13,616.79M
Total liabilities 6,759.66M 8,127.20M 8,659.16M 8,414.03M 6,333.89M
Total equity 4,132.38M 5,295.24M 6,270.06M 7,309.38M 6,735.65M
Operating cash flow 1,868.71M 2,191.27M 1,819.16M 1,088.67M -376.27M

Valuation Measures

Dec 2018
PER46.50
ROA0.68%
ROE1.45%
Operating margin-5.14%
Profit margin1.06%

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%)
  • China Investment Corp. (Investment Management) (1.4%)
  • Harvest Fund Management Co., Ltd. (1.0%)
  • China Asset Management Co., Ltd. (0.9%)
  • Bosera Asset Management Co., Ltd. (0.6%)
  • Yinhua Fund Management Co., Ltd. (0.5%)
  • Da Cheng Fund Management Co., Ltd. (0.4%)
  • HSBC Jintrust Management Co., Ltd. (0.4%)
  • Lion 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

  • 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
  • Hualing Xingma Automobile (Group) Co., Ltd. Class A
  • Zotye Automobile Co., Ltd. Class A
Last Updated on 17 Oct, 2019

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