The Net Profit of Dongfeng Grows 93% in Jan.-Jun.2015

www.chinatrucks.com: According to the semi-annual report by Dongfeng Motor on 29 Aug.2015, the operation income of this builder adds up to 7.8 billion Yuan RMB, year-on-year growth of 12.95% down in the first half of 2015. During this period, it sells vehicles of 94,000 units, y/y growth of 27.3% down, 36% of the annual objective and engines of 85,740 units, 42% of the objective, reaching the income of 7.802 billion Yuan, 38% of the objective.

The market depression makes a negative impact on the auto sales such as the decline of light trucks due to the regulation implementation of China IV and its strategy of focusing on medium and high end; the sales of bus chassis reducing 7.1% compared with the previous year, lower than the rate of the industry, remaining top one in the industry (the sales volume of buses and chassis comes to 16,000 units, year-on-year growth of 1.4%);the sales of Zhengzhou Nissan have been mainly affected by the market decline of pick-up, the purchasing limitation in Guangzhou and Shenzhen and the placement for China V in Guangdong Province, as well as, the sharp price decline of competitive products in CDV market in the first half of this year. In addition, European style light buses sell 2,162 units, year-on-year growth of 189%.

In the first six months, the sales volume of diesel engines reaches 86,000 units, year-on-year growth of 13.8% down, mainly influenced by the dramatic decline of medium and heavy commercial vehicles and engineering machinery. Meanwhile, the operation income adds up to 7.802 billion Yuan, year-on-year growth of 13% down, the net profits belonging to the parent company reach 236 million Yuan, y/y growth of 122%. Dongfeng Motor makes active achievements in market opening of new energy vehicles, realizing big growth in sales and profits. It gets the effective support for more profits through costs reducing and the related control.

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