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Jianghuai Auto '09 net profit up 482.42% to $49 mln

Shanghai, April 7 ( Anhui Jianghuai Automobile Co., Ltd. (JAC) recently announced that the company last year achieved 20.091 billion yuan in operating revenue, up 36.44%, and 335 million yuan ($49 million) in net profit, up 482.42%, the National Business Daily reported.

Vehicle production, as Jianghuai Auto's biggest business, contributed 17.664 billion yuan, or over 90%, to the total core business revenues of the company last year. Operating revenue from its vehicle production increased 44.84%, while those of other operations decreased to different degrees.

The company's MPV and sedan operations both grew rapidly in 2009. The automaker has started mass production of low-emission engines. Its joint venture project for medium- and heavy-duty trucks and its engine project have also been kicked off.

Last year, Jianghuai Auto sold 310,600 vehicles, up 55.9%. The sales included about 46,000 units of the Refine MPV, 154,000 light trucks, 13,000 heavy trucks, 11,800 units of the Rein SRV, and 65,600 sedans, up 26.8%, 42.48%, 20.18%, 14.32%, and 461.56%, respectively.

The provincial government of Anhui previously urged the merger between JAC and Chery, both based in the central Chinese province. However, Jianghuai as a leading truck-maker has been more interested in its own expansion into the passenger car sector.
Maybe they should get their own subforum...
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