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Analysis on Dongfeng motor
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| Words: 716 | Submitted: 29-May-2011
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Descriptioncompany analysis on china's leading motor company
DongFeng Group (Stock code: 489)
Since the middle of last year, the global financial tsunami has caused an inestimable damage to the world’s economy, the US and Western Europe is suffering from decline and regression, but the economy of China is still growing as a result of domestic demand.
It is virtually that the Chinese government is keen to maintain its target of 8% GDP growth for 2009. To achieve this, PRC government had been extended the spending both on the infrastructure construction and stimulate the household consuming internally. A series of government policies were implemented where the automobile industry is one of the business to be beneficial. People are encouraged to exchange for new vehicles with government subsidies, thus will lead to a massive, inelastic demand from domestic consumers and an aggregate increase in the sales volume are expected.
Dongfeng Motor is keen to maintain as the market leader of the industry, had a market share of more than 10% in terms of sales volume among the domestic automobile manufacturers.
For the first half of 2009, the aggregate sales volume of vehicles of domestic automobile manufacturers was approximately 6.1 million units, representing an increase of approximately 17.7% over the corresponding period last year. Excluding the sales volume of the cross type passenger vehicles and mini trucks, the aggregate sales volume of vehicles was approximately 4.9 million units, representing an increase of approximately 11.9% over the corresponding period last year. The PRC has become the world’s largest automobile market.
With the revival and growth of the industry and taking advantage of the Group’s own products and sales edges, the aggregate sales volume of vehicles of the Dongfeng Motor Group was approximately 610,000 units for the fi rst half of 2009, representing a comparable increase of 4.0%. The sales volumes of passenger vehicles were approximately 451,000 units, representing a
comparable increase of approximately 23.0%. The growth of sales volume of passenger vehicles of the Dongfeng Motor Group was approximately 3 percentage points higher than the average level of the industry
To promote our brand name and the updated techniques, the group had also seek for co-operations from external automobile manufactures, like, Honda, Nissan and Peugeot, to establish join venture company to manufacture different type / series of commercial / passenger vehicles.
The Group’s profit attributable to equity holders amounted to approximately
RMB2,606 million for the period, representing an increase of approximately RMB134 million, or a growth of approximately 5.4%, when compared with approximately RMB2,472 million for the same period last year. Earnings
per share were approximately RMB30.25 cents, up by approximately RMB1.56 cents, or a growth of approximately 5.4%, when compared with approximately RMB28.69 cents for the same period last year.
During the period, the Group’s net ...
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