On August 22, Dongfeng Motor released the first half of FY2012 results. Data show that the company’s operating income for the first half of the year was 9.958 billion yuan, down 10.4% from 11.113 billion yuan for the same period last year; the net profit attributable to owners of listed companies was 95.67 million yuan, which was a drop of 67.5 compared with 294.5 million yuan for the same period last year. %.
From the analysis of profit data sources, all profits of Dongfeng Motor come from Dongfeng Cummins Engine Co., Ltd., which it holds shares in. Data shows that in the first half of the year, the company’s profit reached 370 million yuan, and the profit contributed to Dongfeng Motor reached 176 million yuan, accounting for 184.07% of its net profit.
As for the reduction of total operating revenue, Dongfeng stated in its financial report that because the company sold 149,000 vehicles in the first half of the year, it was down 10.8% year-on-year, which led to a drop in the company's total operating revenue. Among them, sales of 95,000 light trucks were down 20.7% year-on-year; sales of passenger cars and chassis were 15,000, an increase of 24.6% year-on-year; sales of micro-cards were 10,000, an increase of 9.9% year-on-year. In addition, in the first half of the year, the company also sold 87,000 diesel engines, a decrease of 34.2% year-on-year.
Dongfeng Motor believes that from the perspective of the macro situation, China's auto production and sales are still in the adjustment stage. In terms of products, the light trucks, especially the light trucks, were not doing well in the first half of the year. In particular, the company’s light truck products are facing a period of revenue and structural adjustment. Current sales lag behind market growth; while sales of engine products are greatly affected by the market. In terms of the sales of medium and heavy-duty vehicles, the year-on-year sales declined sharply. On the other hand, due to the impact of the macro economy, non-vehicle markets such as construction machinery and generator sets also experienced a significant decline, which had a significant impact on the company’s engine sales.
SUV/MPV revenue increased slightly According to Dongfeng Data, SUV and MPV revenue was 2.431 billion yuan, up 0.68% over the same period of last year. Pickup revenue was 2.485 billion yuan, down 9.28% from the same period of last year, and light vehicle revenue was 2.966 billion. Yuan, a decrease of 26.37% over the same period of last year, passenger and chassis revenues of 789 million yuan, an increase of 26.55% over the same period the previous year, other projects revenue of 2.079 billion yuan, a decrease of 35.9% over the previous year.
The highest income in South China and the income by region, the highest income in South China in the first half of the year reached RMB 2.4 billion, but it still fell by 15.03% compared with the same period of last year; both in Central China and East China were RMB 2.1 billion, respectively, down from the same period of last year. 6.22% and 14.27%; North China Region’s income was 1.55 billion yuan, a decrease of 18.47% from the same period of last year. Revenue in other regions was 716 million yuan, an increase of 2.29% from the same period of last year.
From the analysis of profit data sources, all profits of Dongfeng Motor come from Dongfeng Cummins Engine Co., Ltd., which it holds shares in. Data shows that in the first half of the year, the company’s profit reached 370 million yuan, and the profit contributed to Dongfeng Motor reached 176 million yuan, accounting for 184.07% of its net profit.
As for the reduction of total operating revenue, Dongfeng stated in its financial report that because the company sold 149,000 vehicles in the first half of the year, it was down 10.8% year-on-year, which led to a drop in the company's total operating revenue. Among them, sales of 95,000 light trucks were down 20.7% year-on-year; sales of passenger cars and chassis were 15,000, an increase of 24.6% year-on-year; sales of micro-cards were 10,000, an increase of 9.9% year-on-year. In addition, in the first half of the year, the company also sold 87,000 diesel engines, a decrease of 34.2% year-on-year.
Dongfeng Motor believes that from the perspective of the macro situation, China's auto production and sales are still in the adjustment stage. In terms of products, the light trucks, especially the light trucks, were not doing well in the first half of the year. In particular, the company’s light truck products are facing a period of revenue and structural adjustment. Current sales lag behind market growth; while sales of engine products are greatly affected by the market. In terms of the sales of medium and heavy-duty vehicles, the year-on-year sales declined sharply. On the other hand, due to the impact of the macro economy, non-vehicle markets such as construction machinery and generator sets also experienced a significant decline, which had a significant impact on the company’s engine sales.
SUV/MPV revenue increased slightly According to Dongfeng Data, SUV and MPV revenue was 2.431 billion yuan, up 0.68% over the same period of last year. Pickup revenue was 2.485 billion yuan, down 9.28% from the same period of last year, and light vehicle revenue was 2.966 billion. Yuan, a decrease of 26.37% over the same period of last year, passenger and chassis revenues of 789 million yuan, an increase of 26.55% over the same period the previous year, other projects revenue of 2.079 billion yuan, a decrease of 35.9% over the previous year.
The highest income in South China and the income by region, the highest income in South China in the first half of the year reached RMB 2.4 billion, but it still fell by 15.03% compared with the same period of last year; both in Central China and East China were RMB 2.1 billion, respectively, down from the same period of last year. 6.22% and 14.27%; North China Region’s income was 1.55 billion yuan, a decrease of 18.47% from the same period of last year. Revenue in other regions was 716 million yuan, an increase of 2.29% from the same period of last year.
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