|Jan 19, 2018|
|Jan 19, 2018|
Currency in HKD
|Full time employees:||75,672|
Guangzhou Automobile Group Co. Ltd. engages in the research and development, manufacturing, sales and after-sales services of passenger vehicles, commercial vehicles, motorcycles and auto parts. The company's business activities include the import and export of automobile-related products, automobile leasing, disassembling, and automobile credit. It also engages in the provision of logistics services, finance leasing, commercial factoring, renewable resources, insurance, insurance brokerage services, and equity investment. The company operates in five segments: Research & Development, Manufacture of Vehicles & Motorcycles, Parts & Components, Commercial Services and Financial Services. The Research & Development segment is mainly responsible for the groups general development plan of new products and new technology, as well as implementation of material R&D projects. The Manufacturer of Vehicles and Motorcycles segment products include GAC Mitsubishi ASX, Pajero, Outlander, Toyota Camry, Highlander, Yaris L, E'Z, Levin, standard motorcycles, sport bikes and scooters. The Parts and Components segment operates through its subsidiary and its controlling, investee companies and associated companies and Tong Fang Logistics in the upstream and downstream of the automobile industrial chain. The Parts and components segment includes engines, gearboxes, car seats, HVAC systems, auto lamps, automation accessories, redirectors, shock absorbers and accessories. The Financial segment provides financial investment, insurance, insurance broker, financial lease, automobile credit, and other related services. The company was founded on June 6, 1997 and is headquartered in Guangzhou, China.
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.
In the news
January 18, 2018 7:55 am JST
January 17, 2018 12:30 pm JST
Toyota and Ford also moving to electrify their offerings
January 17, 2018 3:14 am JST
January 16, 2018 8:30 pm JST
Ping An Insurance, China Life gain but airline stocks decline
January 16, 2018 8:17 pm JST
January 16, 2018 8:11 pm JST
Flashy designs and ample funds help industry newcomers make inroads
January 16, 2018 7:45 pm JST
- Local currency
- US Dollar
|Income before tax||1,537.72M|
|Dividends per share||0.34|
|Operating cash flow||12,296.73M|
Currency in HKD
|Income before tax||198.09M|
|Dividends per share||0.04|
|Operating cash flow||1,584.12M|
Currency in USD
- Chairman & General Manager: Qing Hong Zeng
- Chief Financial Officer & Deputy General Manager: Dan Wang
- Executive Director & Deputy General Manager: Xing Ya Feng
- Chief-Accounting: Can Hui Li
- Joint Secretary: Li Xu
- Guangzhou State-Owned Assets Supervision & Admin. Commission(9.3%)
- Templeton Asset Management Ltd. (Hong Kong)(4.9%)
- Norges Bank Investment Management(4.9%)
- Westwood Global Investments LLC(4.8%)
- The Vanguard Group, Inc.(3.4%)
- Fidelity Management & Research Co.(2.8%)
- BlackRock Fund Advisors(2.5%)
- First Seafront Fund Management Co., Ltd.(1.5%)
- Old Mutual Global Investors (UK) Ltd.(1.0%)
- Harvest Fund Management Co., Ltd.(0.9%)
- Website: http://www.gagc.com.cn
- Address: GAC Center, No. 23 Xingguo Road, Guangzhou, 510623, China
- Phone: +86.20.8315.1089
Copyright © 2018 FactSet Research Systems Inc. All rights reserved.