Chinese Domain Auto Rating: Results Need To Be Further Released - Chinese Domain Auto - Auto Parts
Growth performance in 2010 is more determined. The main business of the company of the original bus passenger, rent passenger, long-distance passenger transport and so on, through the stock transfer, asset sales and asset purchases, SAIC into 23 separate components of enterprise assets, the current company's main business is automotive interior and exterior trim, features of assembly and thermal processing class products.
2010 is expected to release annual results
Products mainly for passenger cars Supporting , Which accounted for the matching within SAIC less than 60% of operating income, total operating revenue, external supporting more than 40%. The company is actively expanding external matching market. 2009 January-October SAIC Sell Passenger 2 million, up 55%, according to market situation, SAIC has developed plans for the 2010 passenger car sales grew 15%. 2009 January-October sales of 8.19 million domestic passenger cars, up 45%. We expect the domestic economic recovery has not yet fully stabilized, policies to stimulate the automobile consumption is expected to continue, by 2010 passenger car market is expected to maintain 10% growth. Taken into account, we believe that the subsidiary company in 2010 revenue to grow by an average of about 15%, in financial leverage and operating leverage, the company's net profit attributable to parent company will grow faster than revenue growth.
Through reorganization of assets in 2009, election management, business planning, after combing the 2010 performance of the company is expected to the normal release. As of the end of March 2009, the reorganization of the relevant procedures have been completed it. April 2009 has been on the board of directors, board of supervisors to conduct elections, and the president, vice president and other executives were appointed. Current management is to sort out the company's operations and planning. We believe that the company's 2009 series of restructuring activities in the normal conduct of business will have a positive impact, while New performance management will also have some reservations in 2009, to reserve the room for growth in 2010. 2010, the company's operations will be normalized, results are expected to quickly release.
Funded favorable currency Extensive growth Company's money funded, is expected to achieve an asset acquisition Extensive growth. Assets of the company during reorganization, through the sale of the original assets were 2.45 billion yuan in cash. As of the end of 2009 Q3, the company has 6.52 billion yuan currency funds (of which consolidated the company Yanfeng Visteon 2.1 billion), accounting for 43% of current assets, 26% of total assets, we expect this part of the funds except for the company's normal operations, the vast majority of the assets used to purchase. Meanwhile, the company's assets and liabilities of the end of the third quarter was only 43.11 percent, lower than 60% of the entire automotive industry, the level of financial leverage remains to be the next play.
Assets in restructuring the company to avoid competition with the industry, Shanghai Automotive Group is committed to: SAIC after the closing date of the transaction will be completed within three years of independent providers Donghua Automotive Industrial Co., Ltd. Auto Parts Combing operations, training, integration, acquisition, restructuring and operational adjustments to resolve East China listed companies and companies of the potential problem with the competition; same time, the reorganization is completed, Shanghai Chin Ho Li Aluminum Wheel Manufacturing Co., Ltd., the Haishengdeman Casting Co., Ltd., Shanghai Sachs Powertrain Components Systems Co., Ltd., three companies do not engage in the same company's products and future business market, SAIC commitment to give priority to listed companies to buy the underlying assets at fair price and business rights, if the company intends to acquire the interest from investors, according to SAIC will fully support the company's acquisition of three parts enterprises.
We believe that large amounts of cash deposited in the company accounts, not operating for profit investment is a non-normal state. Expected with the management company for new business and planning the completion of the carding, the company's investment in acquisitions will be launched in 2010. We are assuming a 65 billion acquisition of assets, acquisition of assets, profitability and asset quality is currently very, net of interest income, the opportunity cost of capital acquisition, the company's net profit growth of 30% can be realized.
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