Jianghuai Automobile (600418.SH) released the November sales and production report in the evening of December 5, saying that November production was 42200 units, an increase of 19.98% year-on-year; sales volume was 42300 units, an increase of 27.91% year-on-year, which was the highest in the month since this year. The increase increased the previous 15% in September.
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From January to November, the company’s production volume was 403,741 units, a decrease of 5.01% year-on-year; sales volume was 4,11,012 units, a year-on-year decrease of 6.92%. In fact, since March, the sales volume of the company has been sluggish, and the downward trend has continued until August. In September, Jianghuai Automobile suddenly rebounded and its sales volume increased by more than 15% year-on-year. October continued its good momentum in September, and November was even more remarkable. Excluding the month-on-month decline of MPVs of 6.39%, the monthly sales of other products are all positive, with monthly sales of cars rising by as much as 70.8% year-on-year.
In addition to cars, JAC’s traditional van, the commercial vehicle, also maintained steady sales in the downturn of the industry. In November, the sales volume of trucks was 16,800, an increase of 13.93% year-on-year. In the previous November, the sales volume was 204,000, a year-on-year increase. Drop 4.23%. In this regard, Jianghuai Automobile Chairman An Jin said on December 5th when he was interviewed by the media: "Our position in the commercial vehicle market has been further consolidated, which shows that the foundation of Jianghuai Automobile is good." An Jin admits at the same time: "Of course, we also have painful places. For example, the sales volume of SUV drops greatly, did not keep up with this segment market's high growth tendency."
According to Amjin, the biggest highlight of this year's Jianghuai Automobile is structural adjustment, with emphasis on the two brands, Ruifeng and Heyue. "Although it is difficult to go up on a cheap platform, we are still firmly moving to the mid-to-high end market." In the secondary market, Jianghuai Automobile is actively promoting stock repurchases. As of November 30, the number of shares repurchased by the company was 3.8308 million shares, which accounted for approximately 0.3% of the company's total share capital. The highest purchase price was 5.20 yuan/share, the lowest price was 5.02 yuan/share, and the total payment amount was approximately 1973.96 million yuan.
JAC rose 2.69% on the 5th, to close at 5.72 yuan.