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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Dongfeng Motor Group Company Limited    489   CNE100000312

DONGFENG MOTOR GROUP COMPANY LIMITED

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Dongfeng Motor : Says 1st Half Profit Likely Fell 60% Due to Covid-19

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08/23/2020 | 06:54pm EDT

By P.R. Venkat

Dongfeng Motor Group Co. expects its first-half net profit fell about 60% from a year earlier as Covid-19 curbs severely dented the company's performance.

"The board of directors believes that the expected decrease in operation results is mainly due to the outbreak of Covid-19 since January 2020, which has severely affected the business operation of Chinese enterprises and consumers' expenses," it said Monday.

Dongfeng Motor said most of the impact happened in the first quarter. The resumption of work and production at the company was delayed compared to the industry, it said.

"Since the second quarter, the production and operation of each of the bases of the group gradually resumed to normal level following the ease of the epidemic," it said.

Group sales volume outperformed the market in the second quarter, effectively mitigating the downward trend in operation results in the first half.

In the first half of last year, the company's net profit was 8.50 billion yuan ($1.23 billion), with revenue coming in at CNY48.45 billion.

 

Write to P.R. Venkat at venkat.pr@wsj.com

 


Stocks mentioned in the article
ChangeLast1st jan.
DONGFENG MOTOR GROUP COMPANY LIMITED 2.33% 5.72 End-of-day quote.-21.96%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.05% 6.6937 Delayed Quote.-4.24%
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Financials
Sales 2020 101 B 15 074 M 15 074 M
Net income 2020 8 826 M 1 315 M 1 315 M
Net Debt 2020 23 858 M 3 554 M 3 554 M
P/E ratio 2020 4,77x
Yield 2020 5,05%
Capitalization 42 507 M 6 359 M 6 333 M
EV / Sales 2020 0,66x
EV / Sales 2021 0,57x
Nbr of Employees 136 549
Free-Float 31,0%
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 6,36 CNY
Last Close Price 4,93 CNY
Spread / Highest target 78,6%
Spread / Average Target 28,9%
Spread / Lowest Target -1,25%
EPS Revisions
Managers
NameTitle
Shao Zhu Li President, CEO & Executive Director
Wei He Chairman-Supervisory Board
Yan Feng Zhu Chairman
Wen Qing Wei Head-Operation Management Department
Jun Yu Head-Organization & Information Department
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1st jan.Capitalization (M$)
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