Dongfeng Motor Group's results announcement for the first half of 2017 Dongfeng Motor Group said that the company’s revenue growth was mainly due to the unexpected performance of the commercial vehicle market. According to financial reports, in the first half of this year, thanks to Dongfeng Commercial Vehicle Co., Ltd., Dongfeng Liuzhou Automobile Co., Ltd. business growth, sales of commercial vehicles of Dongfeng Motor Group increased 48.7% over the same period last year (to 20.235 billion yuan) to 29.949 billion yuan. The passenger vehicle was subject to a decline in revenue from Dongfeng Peugeot Citroen Sales Co., Ltd. The sales revenue in the first half of the year decreased by RMB 26.3 billion to RMB 26.16 billion from the 35.79 billion yuan in the same period last year, representing a decrease of approximately 26.9%. Dongfeng Motor Group's business revenue for the first half of 2017 In the report, Dongfeng Motor Group Director Yan Yanfeng analyzed that in the first half of the year, the Chinese auto market as a whole exhibited the characteristics of slowing growth and differentiation, mainly reflected in the following four aspects: the overall passenger car market was depressed, and the growth rate of commercial vehicles was higher than Expected; consumption upgrade trend is obvious, passenger car segmentation market segmentation; joint venture brands have different performance, independent brand development is rapid; market competition intensifies, terminal prices drop more, corporate earnings are affected. These market performances are also reflected in the Dongfeng Motor Group in the first half of the year. Dongfeng Motor Group's production and sales in the first half of 2017 First, from January to June 2017, Dongfeng Motor Group sold approximately 1,471,300 vehicles, a year-on-year increase of 3.5%. Among them, commercial vehicles increased by 26.4% year-on-year to 221,400 units, which was higher than the sales growth of the commercial vehicle industry by approximately 9 percentage points. Passenger vehicles increased by only 0.3% year-on-year to 1,249,900 units. However, sales of SUVs rose by 3.6 percentage points. Overall, the passenger car market is sluggish, and the growth rate of commercial vehicles is higher than expected. Corresponding to the sales volume market share, Dongfeng Motor Group's overall market share in the first half of the year was 11%, which was a decrease of approximately 0.1% from the same period of last year. The market share of passenger cars was 11.1%, which was a decrease of 0.2% from the same period of last year. The market share of commercial vehicles was 10.5%, which was an increase of 0.6% over the same period of last year. Secondly, in order to cope with the consumption upgrade trend, Dongfeng Motor Group further optimized the product structure of the passenger vehicle market to enhance its market competitiveness. It is reported that the first half of this year, Dongfeng Motor Group has put in succession 14 new passenger cars. Among them, SUV models occupy 10 models, such as Dongfeng Nissan Kinke, Dongfeng Fengshen AX4, new CRV and other models; new cars are Dongfeng Honda Civic, Dongfeng Nissan New Sylphy and other models; MPV Dongfeng Liuzhou S500 models. At the same time, on the commercial vehicle side, star models such as the Dongfeng Capt. ZD30, the 520-horsepower Tianlong flagship, and the new Ryukyu M3B have also been introduced. As for the performance of joint venture brands, Gasgoo reporters found out that the sales performance of their joint-venture brands showed a polarization trend in the first half of the year by consulting the monthly sales and sales announcements of Dongfeng Motor Group. For instance, Dongfeng Honda, Dongfeng Nissan, Dongfeng Renault and other joint venture automakers all witnessed varying degrees of growth in the first half of the year, and sales of Shenlong Motor, which was established with the symbol Citroen, declined sharply by 48.23% in the first half of the year, which dragged down the overall passenger car market. In addition, Yan Yanfeng also pointed out clearly in the report that at present and in the near future, the automotive industry will face profound changes in the situation. First, the effects of policies and regulations will continue to be released. The medium and long-term development plans for the automotive industry, the automobile sales management methods, and the CAFC and NEV integration management methods will all have a profound impact on the automotive market in the second half of the year and even the future. Second, under the trend of lightweight, electrified, intelligent, networked, and shared, the shape, production methods, and business models of automotive products have undergone profound changes and new business models have emerged. In the second half of the year, the automobile market may be better than the first half in the second half of the year due to the advent of traditional car buying season and the expiration of incentives for small-scale purchase tax of 1.6L and below.
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On August 28, Dongfeng Motor Group Co., Ltd. (hereinafter referred to as “Dongfeng Motor Groupâ€) released its financial report for the first half of 2017. According to the report, Dongfeng Motor Group achieved a revenue of RMB 57.585 billion (units are the same below) in the first half of the year, an increase of 1.0%; net profit of RMB 7.037 billion, an increase of 4.2% year-on-year; basic earnings per share of 81.67 points; and a plan of RMB 0.10 per share. . 
