江铃汽车（000550）公告，2025年4月总销量为30499辆，同比增长0.43%；累计销量为10.65万辆，同比 增长1.74%。 ...

江铃汽车（000550）公告，2025年第一季度营收为79.67亿元，同比下降0.09%；净利润为3.06亿元，同 比下降36.56%。 ...

Financial Performance - The company's operating revenue for Q1 2025 was CNY 7,967,428,172, a decrease of 0.09% compared to the same period last year[3]. - Net profit attributable to shareholders was CNY 305,997,821, down 36.56% year-on-year[3]. - The number of vehicles sold in Q1 2025 reached 76,007 units, an increase of 2.27% year-on-year[6]. - Total operating revenue for the period was CNY 7,967,428,172, slightly down from CNY 7,974,792,045 in the previous period, representing a decrease of approximately 0.1%[17]. - Total operating costs decreased to CNY 7,938,917,337 from CNY 8,118,408,806, a reduction of about 2.2%[17]. - Net profit for the period increased to CNY 309,381,628, compared to CNY 239,069,590 in the previous period, marking an increase of approximately 29.3%[17]. - The company reported a basic earnings per share of CNY 0.35, down from CNY 0.56 in the previous period[17]. Cash Flow and Liquidity - The net cash flow from operating activities was negative CNY 2,297,115,303, a decline of 273.95% compared to the previous year[3]. - The net cash flow from operating activities was -2,297,115,303.00, a significant decline from -614,291,227.00 in the previous period, indicating worsening operational cash flow[19]. - Total cash inflow from operating activities decreased to 8,720,049,777.00 from 9,508,372,089.00, reflecting a year-over-year decline of approximately 8.3%[19]. - Cash received from sales of goods and services was 8,486,465,921.00, down from 9,429,271,287.00, indicating a decrease in revenue generation[19]. - The company paid 8,798,857,074.00 for goods and services, an increase from 8,145,373,016.00, reflecting rising operational costs[19]. - The total cash and cash equivalents at the end of the period decreased to 8,666,302,200.00 from 10,007,002,631.00, a decline of approximately 13.4%[19]. - The company's cash and cash equivalents decreased by CNY 38.13 billion, a decline of 30.39% compared to the end of the previous year[6]. Assets and Liabilities - The company's total assets decreased by 11.65% to CNY 27,247,466,311 compared to the end of the previous year[3]. - Total assets decreased to CNY 27,247,466,311 from CNY 30,839,912,640, a reduction of approximately 11.8%[15]. - Total liabilities decreased to CNY 16,343,842,149 from CNY 20,244,568,119, a decline of about 19.0%[15]. - The company's short-term borrowings decreased by CNY 12.5 billion, a reduction of 83.33% compared to the end of the previous year[6]. Expenses and Investments - The first quarter's income tax expense increased by 115.98% year-on-year, amounting to CNY 93,530,000[7]. - Research and development expenses were CNY 286,230,316, down from CNY 319,007,229, a decrease of approximately 10.3%[17]. - The company’s inventory decreased to CNY 1,845,623,327 from CNY 2,054,517,242, a decline of about 10.1%[14]. - The company’s long-term investments decreased to CNY 209,155,860 from CNY 219,298,031, a reduction of approximately 4.6%[14]. - The company reported a significant increase in investment activity cash outflow, up 56.18% year-on-year, primarily due to increased cash payments for fixed asset purchases[9]. Financing Activities - Cash inflow from financing activities increased significantly to 1,784,325,555.00 from 498,886,258.00, indicating a strong reliance on borrowing[19]. - The net cash flow from financing activities was -1,173,303,979.00, worsening from -908,514,843.00, highlighting increased financial strain[19]. - Cash outflow from investing activities was -338,454,527.00, compared to -216,709,914.00 in the previous period, showing an increase in investment losses[19]. - The company did not report any cash inflow from investment recoveries this period, contrasting with 200,000,000.00 received in the previous period[19].

Core Viewpoint - The company reported a solid performance in 2024, with revenue, net profit attributable to shareholders, and net profit excluding non-recurring items reaching 38.374 billion yuan, 1.537 billion yuan, and 1.356 billion yuan respectively, representing year-on-year growth of 15.70%, 4.17%, and 36.28% [2][3][4] Revenue and Profitability - The revenue growth was driven by the launch of new vehicles, recovery in light commercial vehicles, and increased exports, leading to a simultaneous rise in sales volume and price [3][4] - The company achieved a total vehicle sales volume of 341,000 units in 2024, a year-on-year increase of 10.1%, with light commercial vehicles, light trucks, pickups, and SUVs selling 87,000, 62,000, 73,000, and 119,000 units respectively [4] - The average revenue per vehicle was approximately 112,000 yuan, reflecting a year-on-year increase of 5.1% [4] - The company's gross margin and net margin for 2024 were 14.13% and 3.14%, showing slight declines of 0.25 percentage points and 0.07 percentage points respectively [5] Future Outlook - The company aims to achieve a sales target of 390,000 vehicles in 2025, representing over 14% growth compared to 2024, with a revenue target exceeding 40 billion yuan [5] - The company plans to enhance its competitiveness in the passenger and commercial vehicle sectors through the introduction of new electric vehicle models and continued expansion in non-American export markets [5][6] - The company announced a share buyback plan of 150-200 million yuan to implement its first-ever employee stock ownership plan, reflecting confidence in long-term development [6] Market Position - The company maintained strong market shares in light commercial vehicles, pickups, and light trucks, ranking 1st, 2nd, and 6th respectively [4] - The export market showed resilience with double-digit growth, supported by Ford's distribution channels, and the company is expanding its product offerings in Southeast Asia, the Middle East, and Latin America [5][6]

Financial Performance - The company's operating revenue for 2024 reached ¥38,374,160,748, representing a 15.70% increase compared to ¥33,167,325,081 in 2023[17]. - Net profit attributable to shareholders for 2024 was ¥1,537,139,024, a 4.17% increase from ¥1,475,597,266 in 2023[17]. - The net profit after deducting non-recurring gains and losses was ¥1,356,329,085, marking a significant 36.28% increase from ¥995,236,837 in 2023[17]. - Basic earnings per share for 2024 were ¥1.78, up 4.17% from ¥1.71 in 2023[18]. - The company reported a net profit of 180,809,939 yuan for the year, a decrease from 480,360,429 yuan in the previous year[24]. - The company's revenue for 2024 was 38.374 billion yuan, representing a 15.7% increase compared to the previous year[41]. - The company reported a significant increase in revenue, achieving a total of $1.5 billion, representing a 20% year-over-year growth[96]. Cash Flow and Assets - The net cash flow from operating activities decreased by 42.35% to ¥2,633,384,217 from ¥4,567,539,866 in 2023[18]. - Total assets at the end of 2024 amounted to ¥30,839,912,640, a 5.83% increase from ¥29,141,187,886 in 2023[18]. - The total cash and cash equivalents increased by ¥728.66 million, a decline of 77.25% compared to the previous year[57]. - As of the end of 2024, cash and cash equivalents amounted to ¥12,546,295,890, representing 40.68% of total assets, an increase of 0.08% compared to the beginning of 2024[59]. - The company’s financing activities generated a net cash outflow of ¥545.38 million, a significant increase of 183.97% compared to the previous year[57]. Production and Sales - In 2024, the company achieved a total vehicle production and sales of 3,128.2 million and 3,143.6 million units, representing year-on-year growth of 3.7% and 4.5% respectively[27]. - The company achieved total vehicle sales of 341,208 units, a year-on-year increase of 10.06%[40]. - The total production volume for 2024 was 344,841 units, reflecting a 12.17% increase from the previous year[40]. - The production and sales of new energy vehicles reached 1,288.8 million and 1,286.6 million units, with year-on-year growth of 34.4% and 35.5% respectively, accounting for 40.9% of total new vehicle sales[28]. - The company’s light truck production increased by 23.60% year-on-year, while SUV production rose by 11.35%[31]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of ¥7.12 per 10 shares, based on a total of 863,214,000 shares[5]. - The company plans to distribute a cash dividend of 7.12 yuan per 10 shares, totaling 614,608,368 yuan, which represents 100% of the profit distribution[135]. - The company has a total distributable profit of 9,179,333,271 yuan for the reporting period[135]. Research and Development - The company reported a research and development expenditure of 1.315 billion yuan, an increase of 2.21% year-on-year[41]. - The number of R&D personnel increased by 6.10% to 2,628, with a higher proportion of staff holding master's degrees[55]. - The company plans to launch a new electric SUV platform in the second half of 2025, aiming to enhance competitiveness and meet future policy requirements[54]. - A strategic acquisition of a technology firm was completed for $200 million, aimed at enhancing R&D capabilities[101]. Market Strategy and Expansion - The company is focusing on digital transformation to improve operational efficiency and customer-centric solutions, including the launch of the Jiangling Lexing system for logistics collaboration[30]. - The company plans to enhance its technological investment in new products, smart connectivity, and lightweight solutions, aiming for a production capacity of 320,000 units with a utilization rate of 108%[30]. - The company is expanding its market presence in Southeast Asia, targeting a 15% market share by the end of the fiscal year[100]. - The company plans to launch new electric light commercial vehicles and SUVs to enhance market competitiveness[73]. Governance and Management - The company has established an independent financial department with a standardized accounting system and independent bank accounts[81]. - The company’s governance structure complies with relevant laws and regulations, with no significant discrepancies noted[80]. - The company has appointed a new director, Ms. Zhong Junhua, to the board during the second extraordinary general meeting of 2024[84]. - The company has seen a management change with the resignation of Liu Rangpo and Yang Shenghua as vice presidents effective December 31, 2024, due to job changes[88]. - The company emphasizes the importance of leadership stability in driving future growth and operational efficiency[88]. Environmental Initiatives - The company is committed to completing low-nitrogen combustion retrofitting for its gas (oil) boilers by 2025, aiming to secure a 50% funding subsidy[145]. - The company achieved a 14% reduction in hazardous waste disposal volume per unit in 2024 compared to 2023, saving 800,000 yuan annually in hazardous waste disposal costs[149]. - The company invested a total of 19.13 million yuan in environmental protection initiatives, including 4.33 million yuan for wastewater treatment station operations and 6.83 million yuan for waste disposal[153]. - The company received a funding subsidy of 50,000 yuan after successfully passing the clean production audit for its 2,000-acre base[145]. Risk Management - The company has identified potential risks and corresponding measures in its management discussion and analysis section[5]. - The company maintains a risk-neutral approach in its foreign exchange hedging activities, focusing on financial stability and avoiding currency fluctuation risks[66]. - The internal control system is regularly updated to adapt to changes in internal and external environments, ensuring its effectiveness[138]. Shareholder Structure - The total number of shares outstanding is 863,214,000, with 99.91% being unrestricted shares[193]. - The largest shareholder, Nanchang Jiangling Investment Co., Ltd., holds 41.03% of the shares, totaling 354,176,000 shares[196]. - Ford Motor Company is the second-largest shareholder, owning 32.00% of the shares, which amounts to 276,228,394 shares[196]. - The total number of shareholders at the end of the reporting period was 44,853, a slight decrease from 44,853 at the previous month-end[195].

Financial Performance - Total revenue for 2024 reached 38,374 million RMB, an increase of 15.70% compared to the previous year[2] - Operating profit for 2024 was 1,263 million RMB, up 58.87% from the previous year[2] - Total profit for 2024 amounted to 1,258 million RMB, reflecting a 57.64% increase compared to the prior year[2] - Net profit attributable to shareholders was 1,537 million RMB, a growth of 4.20% year-over-year[2] - Net profit after deducting non-recurring gains and losses was 1,356 million RMB, up 36.28% from the previous year[2] - Basic earnings per share for 2024 were 1.78 RMB, an increase of 4.20% compared to the previous year[2] Sales Performance - The company sold 341,208 vehicles in 2024, representing a 10.06% increase in total sales year-over-year[4] Assets and Equity - Total assets at the end of 2024 were 30,839 million RMB, a 5.83% increase from the beginning of the year[2] - Shareholders' equity attributable to the company was 11,292 million RMB, reflecting a 9.10% increase[2] Return on Equity - The weighted average return on equity was 14.20%, down from 15.06% in the previous year, a decrease of 0.86%[2]

Revenue and Profit - Revenue for the third quarter reached 9.81 billion yuan, a year-on-year increase of 21.44%[2] - Net profit attributable to shareholders for the first three quarters was 1.17 billion yuan, up 15.52% year-on-year[2] - Revenue for the period reached 27.73 billion yuan, a 17.96% increase compared to the same period last year (23.51 billion yuan)[11] - Net profit attributable to parent company shareholders was 1.17 billion yuan, up 15.52% year-over-year (1.01 billion yuan)[11] - Sales revenue from goods and services reached 29.88 billion yuan, a 14.43% increase year-over-year (26.11 billion yuan)[12] - Basic earnings per share increased to 1.35 yuan from 1.17 yuan in the same period last year[11] Vehicle Sales and Inventory - Total vehicle sales for the first three quarters were 242,223 units, a year-on-year increase of 9.56%[4] - Inventory increased by 572 million yuan, up 36.63% compared to the end of the previous year[4] - Inventory increased significantly to RMB 2.13 billion from RMB 1.56 billion[9] Financial Position and Assets - Total assets at the end of the third quarter were 29.79 billion yuan, an increase of 2.24% compared to the end of the previous year[2] - Equity attributable to shareholders at the end of the third quarter was 10.93 billion yuan, an increase of 5.59% compared to the end of the previous year[2] - Total assets increased to RMB 29.79 billion, up from RMB 29.14 billion at the beginning of the period[9][10] - Current assets totaled RMB 19.61 billion, with cash and cash equivalents at RMB 11.11 billion[9] - Total liabilities rose to RMB 19.49 billion, with current liabilities at RMB 18.70 billion[10] - Shareholders' equity increased to RMB 10.30 billion, with retained earnings at RMB 8.81 billion[10] - Accounts receivable increased to RMB 4.48 billion from RMB 4.40 billion[9] - Fixed assets grew to RMB 5.58 billion from RMB 5.39 billion[9] - Construction in progress increased to RMB 663 million from RMB 464 million[9] - Minority interest decreased to negative RMB 626 million from negative RMB 365 million[10] - The company's total assets reached 11.75 billion yuan at the beginning of the period, with a net decrease of 716.89 million yuan by the end of the period[12] Cash Flow and Financing - Net cash flow from financing activities decreased by 1.06 billion yuan, down 290.5% year-on-year[5] - Operating cash flow decreased by 28.53% to 1.73 billion yuan compared to 2.42 billion yuan in the previous year[12] - Cash and cash equivalents at the end of the period stood at 11.03 billion yuan, a decrease of 716.89 million yuan from the beginning of the period[12] - Investment cash outflow increased by 47.37% to 1.82 billion yuan compared to 1.23 billion yuan in the previous year[12] Liabilities and Borrowings - Short-term borrowings decreased by 800 million yuan, down 61.54% compared to the end of the previous year[5] - Short-term borrowings decreased to RMB 500 million from RMB 1.30 billion[9] - Contract liabilities increased by 152 million yuan, up 62.33% compared to the end of the previous year[5] Expenses and Taxes - Tax and surcharges for the first three quarters increased by 382 million yuan, up 53.42% year-on-year[5] - R&D expenses decreased by 25.68% to 855.56 million yuan from 1.15 billion yuan in the same period last year[11] - Interest income decreased by 10.55% to 163.86 million yuan from 183.18 million yuan in the previous year[11]

证券代码： 000550 证券简称： 江铃汽车 公告编号： 2024-037 200550 江铃 B 江铃汽车股份有限公司 2024 年 9 月产、销情况的自愿性信息披露公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、误导性陈述或重大遗漏。 江铃汽车股份有限公司 2024 年 9 月产、销快讯数据如下： | | | | 同比 | 产量（辆） | | 同比 | | | 同比 | 销量（辆） | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 产品 | 本月数 | 去年 同月数 | 变化 | 本年 累计数 | 去年同期 累计数 | 变化 | 本月数 | 去年 同月数 | 变化 | 本年 累计数 | 去年同期 累计数 | 同比 变化 | | | | | （%） | | | （%） | | | （%） | | | （%） | | 轻型客车 | 8,354 | 8,091 | 3.25% | 60,097 | 53,027 | 13.33% | 8,166 | 8,2 ...

Financial Performance - The company's operating revenue for the first half of 2024 reached ¥17,920,065,801, representing a 16.14% increase compared to ¥15,429,372,309 in the same period last year[11]. - Net profit attributable to shareholders was ¥895,480,117, up 22.77% from ¥729,387,557 in the previous year[11]. - The net profit after deducting non-recurring gains and losses was ¥811,172,488, which is a significant increase of 94.19% compared to ¥417,729,211 in the same period last year[11]. - Basic and diluted earnings per share increased to ¥1.04, reflecting a growth of 22.77% from ¥0.84[11]. - The total operating revenue for the first half of 2024 reached RMB 17.92 billion, a 16.2% increase from RMB 15.43 billion in the same period of 2023[73]. - The net profit attributable to shareholders of the parent company was RMB 895.48 million, up 22.8% from RMB 729.39 million year-on-year[73]. - The total comprehensive income for the first half of 2024 was RMB 610.88 million, an increase of 37.0% from RMB 446.62 million in the first half of 2023[73]. Assets and Liabilities - The total assets of the company at the end of the reporting period were ¥29,874,677,888, a 2.52% increase from ¥29,141,187,886 at the end of the previous year[11]. - The total liabilities reached RMB 19.87 billion, reflecting a rise of 3.71% compared to RMB 19.16 billion at the end of 2023[72]. - Current assets totaled RMB 19.88 billion, up 2.61% from RMB 19.38 billion as of December 31, 2023[71]. - The company's total equity attributable to shareholders increased to RMB 8.54 billion, compared to RMB 8.23 billion at the end of 2023, marking a growth of 3.79%[72]. Cash Flow - The company reported a significant decrease in cash flow from operating activities, which was ¥733,329,677, down 55.75% from ¥1,657,148,337 in the previous year[11]. - The net cash flow from operating activities was CNY 733.33 million, down 55.75% from CNY 1.66 billion in the same period last year[19]. - Jiangling Motors' cash outflow from financing activities was RMB 1,819,616,234, a decrease from RMB 2,919,193,863 in the first half of 2023[74]. Research and Development - Research and development investment decreased by 26.02% to CNY 802.08 million compared to CNY 1.08 billion in the previous year[19]. - Research and development expenses amounted to RMB 617.24 million, a decrease of 17.5% compared to RMB 748.14 million in the first half of 2023[73]. - The company is accelerating the research and development of new energy products and optimizing operational management to enhance asset risk control[32]. Market and Sales - The sales volume of new energy vehicles reached 492.9 thousand units, with a year-on-year growth of 30.1%, capturing a market share of 35.2%[16]. - The company exported 52,989 vehicles in the first half of 2024, marking a year-on-year increase of 5.9%[17]. - The company's operating income from complete vehicles reached CNY 16.23 billion, accounting for 90.59% of total revenue, with a year-on-year growth of 21.76%[21]. Environmental and Social Responsibility - The company processed approximately 360,000 tons of wastewater in the first half of 2024, ensuring compliance with national discharge standards[43]. - The company achieved a 23.7% reduction in hazardous waste disposal per unit compared to 2023 through various waste reduction measures[43]. - The company purchased over 4,000 jin of rapeseed oil and 43,000 jin of yellow peaches to support poverty alleviation efforts, generating over CNY 47,000 for the village collective[48]. Shareholder Information - The company does not plan to distribute cash dividends or issue bonus shares for this reporting period[2]. - The total number of shares after the recent changes is 863,214,000, with 99.91% being unrestricted shares[62]. - The largest shareholder, Nanchang Jiangling Investment Co., Ltd., holds 354,176,000 shares, representing 41.03% of the total shares[64]. Accounting Policies - The financial report for the first half of 2024 has not been audited[69]. - The company recognizes revenue from the sale of vehicles and parts upon delivery, with a typical credit period of less than one year, aligning with industry practices[123]. - The company recognizes expected credit losses for financial assets measured at amortized cost and those measured at fair value through other comprehensive income based on reasonable and evidence-based information regarding past events, current conditions, and forecasts of future economic conditions[92]. Inventory and Receivables - Inventory levels rose to ¥2,118,012,490, which is 7.09% of total assets, an increase of 1.74% compared to the previous year[23]. - The total amount of bank acceptance bills held by the group was RMB 663,468,224, which had been endorsed or discounted but not yet due[174]. - The total accounts receivable amounted to RMB 4,837,351,925, an increase from RMB 4,529,566,682 as of December 31, 2023, representing a growth of 6.8%[160].