·The total debt of 24 car companies is 789.99 billion yuan. The first debt ratio of Jinbei Automobile is 98%.
According to the statistics of Choice financial terminal, in the first half of this year, the total liabilities of 24 listed car companies reached 878.99 billion yuan, and the average asset-liability ratio was 67.64%. In this regard, some insiders said that with the growth of the scale of vehicle business, the amount of corporate debt has also increased rapidly.
From the specific performance of each car company, the asset-liability ratio spans from 39% to 98%, which is quite different. Among them, 17 car companies' asset-liability ratio exceeded 60% in the first half of the year, and the debt ratios of the three car companies exceeded 80%, namely Jinbei Automobile (600609, stock bar), Yaxing Bus (600213, stock bar), Ankai Bus (000868, Share it).
For some passenger car companies with high debt ratios, Cui Dongshu, secretary-general of the Association of Passengers, analyzed that the passengers’ funds are under high pressure, and the pre-delivery of bus subsidies is changed into auditing and disbursement, which are caused by the operating income and profits of passenger cars. influences.
In addition, with the decline of the small-displacement tax reduction policy and the sharp decline in subsidies for new energy buses this year, bus companies are also facing considerable pressure on costs and profit margins.
It is worth noting that the Jinbei Auto, which ranks first, has a debt-to-asset ratio of 97.89%. The reporter checked the data and found that since 2013, the debt ratio of Jinbei Automobile has not fallen below 90%.
According to the report, the company achieved a net profit loss of 337 million yuan in the first half of this year, down 671.87% year-on-year. At the same time, the company's cumulative sales in the first eight months was 13,389 units, a decrease of 9.13% year-on-year. In the first half of the year, the company's vehicle sales revenue was 509 million yuan, a year-on-year decrease of 34.32%.
Automotive analyst Zhong Shi believes that in the final analysis, his own product and technology level is not improved. With the intensification of market competition, the economic downturn in the Northeast region, and the technological upgrading of the automobile industry, many factors have become superimposed, which makes the Jinbei Automobile difficult to move.
The average debt ratio is 67.64%
According to the statistics of Choice Financial Terminal, as of September 13, the total liabilities of 24 listed auto companies in the first half of the year reached 878.99 billion yuan, with an average asset-liability ratio of 67.64%.
According to the total debt ranking, the top three are SAIC (600104, shares), BYD and Changan Automobile (000625, shares), of which SAIC Group's liabilities reached 390.6 billion yuan, accounting for 24 car debt The total amount is over 40%.
However, it is worth noting that the asset-liability ratios of the above three car companies are 61.34%, 62.82% and 58.12%, respectively, which are all below the average gearing ratio of 24 car companies.
From the aspect of asset-liability ratio, Jinbei Auto, Yaxing Bus and Ankai Bus ranked the top three in terms of debt ratio, which were 97.89%, 94.88% and 84.19% respectively. A total of 17 car companies had an asset-liability ratio of more than 60% in the first half of the year.
In this regard, some analysts told reporters that the vehicle manufacturing industry is a capital-intensive industry with a large amount of capital investment, so a reasonable allocation of funds has an important impact on its development. He mentioned that as the size of each vehicle business grows, so does its liability. Long-term high debt ratio will inevitably affect the capital flow and strategic planning of car companies, and the lack of funds will make it difficult for their business to further develop, thus affecting the profitability of enterprises.
Jinbei car debt rate climbed
According to the data, among the above-mentioned 24 car companies, Jinbei Automobile had the highest asset-liability ratio in the first half of the year, reaching 97.89%, and its total liabilities were 11.378 billion yuan.
Compared with the previous data, the debt ratio of Jinbei Automobile has further increased in the first half of this year. According to the data, the asset-liability ratio of Jinbei Automobile in 2013-2016 was 90.16%, 92.89%, 92.99% and 94.13% respectively. This figure was 96.32% in the first quarter of this year.
The situation of rising debt ratios reflects to a certain extent that its operating conditions are not optimistic. In fact, it is not difficult to find out the financial data of Jinbei Automobile in recent years, and the main business of its vehicle manufacturing has already encountered difficulties.
According to its 2007-2016 annual report, Jinbei Automobile has four fiscal years, and the net profit attributable to shareholders of listed companies is negative.
Since the beginning of this year, the situation has not improved. According to the data, the company achieved operating income of 2.58 billion yuan in the first half of the year, an increase of 10.19% year-on-year. However, the net profit attributable to shareholders of listed companies was 337 million yuan, a year-on-year increase of 293 million yuan, a decrease of 671.87% compared with the same period of the previous year.
At the same time, according to its latest disclosure of production and sales data, in August, Jinbei Automobile sold a total of 1,263 vehicles, with a cumulative sales volume of 13,389 vehicles in the first eight months, a decrease of 9.13% compared with the same period last year. In the first half of the year, the company's vehicle sales revenue was 509 million yuan, a year-on-year decrease of 34.32%.
In this regard, Jinbei Auto said that the main reason for the decline in the company's vehicle business is that the economic growth of the northeastern region, which is the main sales area of ​​the company's light trucks, is slow. On the other hand, the operating companies have serious operating losses, insufficient R&D investment, and slow product upgrades. After the implementation of the national five emission standards on July 1 this year, new products will not be able to meet market demand in a timely and effective manner.
An analyst who did not want to be named told reporters that Jinbei Automobile must achieve profitability this year, otherwise it will face the risk of delisting. This is also unwilling to see the Jinbei Automobile, which has been used for many years.
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