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
- Member-Supervisory Board & Deputy Secretary: Yuan Wang
- Chief Accountant: Xiuyun Jiang
Shareholders
- Guangzhou State-Owned Assets Supervision & Admin. Commission (9.7%)
- Fidelity Management & Research Co. LLC (4.1%)
- The Vanguard Group, Inc. (3.5%)
- FIAM LLC (2.3%)
- BlackRock Fund Advisors (1.8%)
- Strategic Advisers LLC (1.1%)
- BlackRock Financial Management, Inc. (1.0%)
- Robeco Institutional Asset Management BV (0.8%)
- Value Partners Ltd. (0.8%)
- Dimensional Fund Advisors LP (0.7%)
Contact Details
- Website:http://www.gac.com.cn
- Address: GAC Center, No. 23 Xingguo Road, Guangzhou, 510623, China
- Phone: +86.20.83150.086
Related Companies
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- Changsha GACC-Tong Yang Automobile Component Co., Ltd.
- Guangqi Honda Logistics Co. Ltd.
- GAC Capital Co., Ltd.
- Guangzhou Guang Ai Insurance Brokers Ltd.
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- GAC Hino (Shenyang) Motors Co. Ltd.
- Guangzhou Automobile Group Autobus Co., Ltd.
- Guangzhou Automobile Group Component Co., Ltd.
- GAC Fiat Automobiles Co., Ltd.
- Changfeng Co. Ltd.
- GAC Business Co., Ltd.
- Guangzhou Automobile Group Motor Co., Ltd.
- Zhejiang Gonow Automobile Co., Ltd.
- GAC Changfeng Motor Co. Ltd.
- China Lounge Investments Ltd.
- Denway Motors Ltd.
Competitors
- Great Wall Motor Co., Ltd. Class H
- Changzhou Nrb Corporation Class A
- Carasso Motors Ltd
- Huada Automotive Technology Corp., Ltd. Class A
- Ningbo Yong Xin Optics Co., Ltd. Class A
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