With the end of April, the first quarter financial reports of domestic car giants have also been basically released.
These financial reports also have their own characteristics, such as the Great Wall benefiting from the breakthrough of high-end models, stopping the collapse of the basic plate of revenue; BYD's sales continue to rise, and the revenue has steadily increased.
But if you want to say that in the forefront of domestic car companies, which one's financial report on the net profit related data is the most impressive, I am afraid that it is not the big brother Changan.
On the evening of April 28, the belated Changan Automobile released its first quarter financial report.
According to the report, Changan Automobile sold 651,500 units in the first quarter, an increase of 1.63% year-on-year.
Operating income was about 34.576 billion yuan, an increase of 7.96% year-on-year; net profit attributable to shareholders of listed companies was about 4.536 billion yuan, an increase of 431.45% year-on-year, and even exceeded the net profit of 3.552 billion yuan in 2021.
These data let netizens can't help but sigh after reading it, too cattle, how did Chang'an do it?
In fact, the reason behind this is not only related to the popularity of Changan's products, but also inseparable from its relatively benign operation.
In the first quarter, Changan Automobile sold a total of 650,000 vehicles, although the year-on-year growth was not much, but still maintained high sales, second only to SAIC, Dongfeng and FAW, ranking fourth in China in the first quarter.
It is worth noting that among the 650,000 sales, Changan's own brand sales are 529376, and the others are joint venture brands.
Compared with the joint venture models, the sales volume of its own brands, which account for a very high proportion, can bring more profits.
In addition to sales, Changan's benign operation ensures a further increase in its profits.
In the first quarter of this year, Changan Automobile controlled its cost expenditure very well. Previously, Changan said that in the face of the pressure caused by the sharp rise in raw material prices, the company continued to promote the global cost reduction and efficiency improvement work, while strengthening the optimization of resource allocation in all links, and actively coordinating the supply of scarce chips.
The data shows that changan automobile's operating costs in the first quarter increased by less than 3% year-on-year, achieving effective control.
In addition, in terms of the money owed and the money received, Chang'an also did a better job than before.
In the first quarter, Changan Automobile's contract liabilities were 5.193 billion yuan, halving the 9.84 billion yuan at the beginning of the year. Chang'an's accounts receivable in the first quarter reached 5.117 billion yuan, a significant increase from the balance of receivables of 1.675 billion yuan at the beginning of the year, an increase of more than 200% year-on-year.
There is also a decision on the operational side, which also brought a considerable profit to Changan in the first quarter.
In March, Changan Automobile sold part of its stake in its subsidiary, Avita, for an equity gain of 2.13 billion yuan and nearly 160 million yuan in government subsidies.
Of course, after Avita Technology completes the financing, it will change from the original holding subsidiary of Changan to an associated enterprise.
Overall, in the first quarter:
Changan Automobile has not only maintained a stable high sales volume and ensured the majority of profits by relying on excellent products; it has also controlled costs, reduced liabilities, increased accounts receivable by relying on excellent operating capabilities, and also made a lot of money by relying on the shares of subsidiaries.
In this way, Changan Automobile's achievement in such a brilliant net profit in the first quarter is indeed commendable.
Write at the end
As a domestic car company, Changan Automobile can achieve such eye-catching results, which is worthy of our pride.
And the competition between car companies is extremely fierce, this time it is Changan that makes people shine, so which car company will be the most eye-catching in the next quarter?
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