August 24th, Jiangling Motors released its first-half performance report tonight. In the first half of this year, it produced 52,000 vehicles and sold 53,000 vehicles, achieving a total operating income of 4.722 billion yuan, a year-on-year increase of 3% and a net profit of 433 million yuan. It was down 18.57% year-on-year, and earnings per share was 0.5 yuan, down 18.57% year-on-year. As of the end of the reporting period, the company's total assets were 7.056 billion yuan, net assets per share was 4.89 yuan, an increase of 4.29% year-on-year. In the first half of the year, 52,000 cars were sold and 53,000 were sold In the first half of 2009, under the macroeconomic situation in which the Chinese economy gradually recovered from the impact of the global financial crisis, the company sold a record 53,000 vehicles, including 22,000 JMC series trucks, 17,000 JMC series pickups and SUVs. And 14,000 Ford Transit commercial vehicles. Total sales increased 2.55% over the same period last year. The company's total output is 52,000, including 22,000 JMC series trucks, 16,000 JMC pickups and SUVs, and 14,000 Transit commercial vehicles. The sales growth of the company was from the growth of the industry. Sales volume of JMC series trucks increased by 6% compared with the same period of last year, JMC series pickups and SUVs increased by 3% year-on-year, and transits decreased by 4%. Product price cuts offset profit from sales increase In the first half of 2009, the company’s operating results were net profit of RMB 433 million (prepared using PRC accounting standards), which was approximately RMB 100 million lower than the same period of last year; net profit after deducting non-recurring gains and losses was RMB 430 million, which was less than the same period of last year. The net profit after the profit and loss of the project (mainly government support funds) increased by 10%. The price reduction of the product partially offset the increase in operating profit caused by the increase in sales volume and cost reduction. Operating expenses decreased by RMB47 million compared with the same period of last year, which was a decrease of 13% year-on-year, mainly because no new products were listed in the first half of 2009. Non-operating income decreased by RMB163 million, or 98%, year-on-year, mainly due to the one-time government support fund received by the company in the same period last year. In the first half of the year, market share fell slightly The main business of Jiangling Motors is to manufacture and sell light vehicles and related parts and components. The main products include JMC series light trucks and pickup trucks and Ford brand Transit commercial vehicles. It also produces engines, castings and other components. In the first half of 2009, the company achieved a market share of approximately 0.9% in the Chinese auto market, a decrease of 0.1 percentage point from the same period of last year. In the first half of 2009, the company achieved a market share of approximately 2.1% in China's commercial vehicle market, a decrease of 0.3 percentage points from the same period of last year. The decline in the company’s share of the commercial vehicle market is due to the fact that the share of micro-vehicles in the commercial vehicle market has increased from 36.6% to 48.1%. The government’s incentive policies have stimulated the growth of the mini vehicle share. The company maintains or increases its share of the various commercial vehicle segments participating in the competition. Jiangling light trucks (including pickups) accounted for 5.1% of the market in the light truck market, which was basically the same as last year. Quanshun’s share in the light passenger market is 13.5%, which is about 1.5 percentage points higher than the same period of last year. (The above analysis data sources: China Automobile Industry Association and company sales data.) In the second half of the year faced with price pressure Various types of products of the company continue to face the pressure of market share brought by low-price competitors. The company expects to continue to face market pressures, including rebounds in raw material prices, price cuts for competing products, competitors’ launch of new models in specific market segments, changes in government policies, and more stringent regulatory requirements. The company will continue to reduce the cost of existing products and reduce operating waste within the company through established processes and working groups. At the same time, new products introduced in 2009 focused on maximizing the localization of parts and reducing costs. In response to competition, the company continued to promote several major projects that have been approved: N900 product projects (independently developed next-generation truck products), N350 product projects (self-developed next-generation pickups and SUV products), and N800 projects (under self-development The A4 stamping line project for a generation of truck products, as well as the localized body stampings, and the JX4D24 and E802 engine projects that meet future regulatory requirements. These initiatives can quickly put competitive and profitable products into the light commercial vehicle market and effectively increase production capacity. Tire Shredder Machine is used to shred waste tires to about 2 inches blocks. Tire Shredder Machine,Tire Shredder,Tire Chipper Machine,Portable Tire Shredder WUXI DEIICHEN MACHINERY PTY.,LTD , https://www.dicmachine.com