Guangzhou Automobile Group Co., Ltd.
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- Renault pulls out of China joint venture as auto outlook darkens Apr 14, 2020
- China's auto industry stuck below 40% of production capacity Mar 13, 2020 See more articles on Guangzhou Automobile Group Co., Ltd.
Company Background
Guangzhou Automobile Group (GAC) is a Chinese automaker owned by the Guangzhou municipal government. It is a second-tier automaker, after China's three biggest automakers, namely First Automobile Works Group, Dongfeng Motor Group and SAIC Motor.
GAC sold about 1.17 million cars in 2014. It aims to increase car sales to 3 million units by 2020. Established in 1997, GAC is based in Guangzhou, Guangdong Province. Headed by Chairman Zhang Fangyou, it was listed on the Hong Kong Exchanges and Clearing (HKEx) in 2010 and the Shanghai Stock Exchange in 2012.
GAC has established joint ventures with several foreign automakers, including Honda Motor, Toyota Motor, Mitsubishi Motors and Isuzu Motors of Japan, and Fiat Chrysler Automobiles of the U.S. As Honda and Toyota cars account for about 40% and 30% of total sales respectively, sales of the two Japanese brands influence GAC's business performance.
To reduce its dependence on foreign brands, GAC has been focusing on the sales of its own brand cars in recent years, such as the Trumpchi, which now accounts for about 10% of total sales. The company has put a particular emphasis on sport utility vehicles.
Business Summary
Financial Highlights
Dec 2021 | HKD | USD |
Revenue | 91,205.26M | 11,733.84M |
Gross Profit | 4,208.56M | 541.44M |
Operating income | -5,404.64M | -695.32M |
Income before tax | -4,811.58M | -619.02M |
Net income | 9,052.37M | 1,164.61M |
EBITDA | 1,396.10M | 179.61M |
Diluted EPS | 0.87 | 0.11 |
Dividends Per Share | 0.25 | 0.03 |
Total Assets | 188,689.44M | 24,202.43M |
Total liabilities | 72,943.51M | 9,356.17M |
Total equity | 110,203.32M | 14,135.33M |
Operating cash flow | 5,746.53M | 739.30M |
Currency in HKD | Currency in USD |
Historical Data
Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | |
Revenue | 82,532.12M | 85,730.51M | 67,699.71M | 70,969.08M | 91,205.26M |
Gross Profit | 14,524.57M | 13,345.35M | 2,506.46M | 2,136.92M | 4,208.56M |
Operating income | 5,817.93M | 2,419.78M | -5,789.95M | -5,144.32M | -5,404.64M |
Income before tax | 4,494.60M | 3,683.59M | -3,523.84M | -4,358.82M | -4,811.58M |
Net income | 12,689.34M | 12,910.07M | 7,502.29M | 6,701.76M | 9,052.37M |
EBITDA | 8,369.87M | 5,846.54M | -1,010.32M | 503.94M | 1,396.10M |
Diluted EPS | 1.15 | 1.06 | 0.64 | 0.58 | 0.87 |
Dividends Per Share | 0.46 | 0.43 | 0.21 | 0.21 | 0.25 |
Total Assets | 143,641.01M | 150,725.28M | 153,766.09M | 169,381.37M | 188,689.44M |
Total liabilities | 55,576.04M | 58,360.93M | 58,345.18M | 63,825.23M | 72,943.51M |
Total equity | 83,050.70M | 87,080.99M | 89,698.05M | 99,753.11M | 110,203.32M |
Operating cash flow | 24,773.85M | 6,421.69M | 5,863.32M | 7,637.31M | 5,746.53M |
Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | |
Revenue | 10,590.79M | 10,938.43M | 8,640.45M | 9,150.22M | 11,733.84M |
Gross Profit | 1,863.84M | 1,702.74M | 319.89M | 275.51M | 541.44M |
Operating income | 746.57M | 308.74M | -738.96M | -663.27M | -695.32M |
Income before tax | 576.76M | 469.99M | -449.74M | -561.99M | -619.02M |
Net income | 1,628.33M | 1,647.20M | 957.51M | 864.07M | 1,164.61M |
EBITDA | 1,074.05M | 745.96M | -128.94M | 64.97M | 179.61M |
Diluted EPS | 0.14 | 0.13 | 0.08 | 0.07 | 0.11 |
Dividends Per Share | 0.05 | 0.05 | 0.02 | 0.02 | 0.03 |
Total Assets | 18,374.76M | 19,251.31M | 19,734.34M | 21,844.81M | 24,202.43M |
Total liabilities | 7,109.36M | 7,454.12M | 7,488.02M | 8,231.42M | 9,356.17M |
Total equity | 10,623.96M | 11,122.37M | 11,511.85M | 12,864.97M | 14,135.33M |
Operating cash flow | 3,179.06M | 819.35M | 748.33M | 984.69M | 739.30M |
Valuation Measures
Dec 2021 | |
PER | 7.11 |
ROA | 5.05% |
ROE | 8.62% |
Operating margin | -5.92% |
Profit margin | 9.92% |
Key executives
- General Manager & Executive Director: Xing Ya Feng
- Chief Financial Officer & Deputy General Manager: Dan Wang
- Deputy General Manager: Shao Li
- Chief Accountant: Xiuyun Jiang
- Secretary: Li Sui
Shareholders
- Guangzhou State-Owned Assets Supervision & Admin. Commission (9.7%)
- Aegon-Industrial Fund Management Co., Ltd. (4.9%)
- Fidelity Management & Research Co. LLC (4.3%)
- The Vanguard Group, Inc. (3.4%)
- JPMorgan Investment Management, Inc. (2.3%)
- FIAM LLC (2.1%)
- BlackRock Fund Advisors (1.7%)
- Penghua Fund Management Co., Ltd. (1.7%)
- Strategic Advisers LLC (1.3%)
- ICBC Credit Suisse Asset Management Co., Ltd. (1.1%)
Contact Details
- Website:http://www.gac.com.cn
- Address: GAC Center, No. 23 Xingguo Road, Guangzhou, 510623, China
- Phone: +86.20.83150.086
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Competitors
- Great Wall Motor Co., Ltd. Class H
- SAIC Motor Corporation Limited Class A
- Brilliance China Automotive Holdings Limited
- BAIC Motor Corporation Limited Class H
- Chongqing Changan Automobile Company Limited Class A
- Carasso Motors Ltd
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