[YesAuto News] On October 29, Dongfeng Motor Co., Ltd. (hereinafter referred to as “Dongfeng Motor”) disclosed its third quarterly report. The company achieved operating income of 9.243 billion yuan in the first three quarters, a year-on-year decrease of 28.88%; net profit attributable to shareholders of listed companies 414 million yuan, an increase of 259% year-on-year. For the main reason for the change in revenue, Dongfeng Motor said that the current revenue does not include the operating income of Zhengzhou Nissan, which was 4.7 billion yuan in the same period last year.
At the same time, Dongfeng Motor predicted in the announcement that the company’s cumulative net profit from the beginning of the year to the end of the next reporting period will increase significantly compared to the same period of the previous year. This is mainly due to the company’s consolidation of the losses of its holding subsidiary Zhengzhou Nissan in the same period last year. Last year, the shares held by Zhengzhou Nissan were sold. Since November 2017, Zhengzhou Nissan will no longer be included in the scope of the company's consolidated statements.
In the first nine months of this year, Dongfeng Motor Group Co., Ltd. sold a total of 2.194 million vehicles, a decrease of 3.4% year-on-year. Among them, the cumulative sales of passenger vehicles was 1.8698 million, a year-on-year decrease of 3.75%; and the total sales of commercial vehicles was 324,500, a year-on-year decrease. 1.83%. As the overall performance of the auto market in September this year was in a downturn, Dongfeng Motor Group's market performance in the first nine months also showed a slight decline.
In terms of the performance of its brands, Dongfeng Qichen, Dongfeng Nissan, and Zhengzhou Nissan increased by 3.42%, 8.3%, and 23.08% respectively in the first nine months, but Dongfeng Infiniti, Dongfeng Honda, Dongfeng Renault, Shenlong Automobile, and Dongfeng Liuzhou Motor decreased respectively. 3.27%, 5.28%, 16.09%, 12.99%, 28.74%.