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

DONGFENG MOTOR GROUP COMPANY LIMITED

(489)
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End-of-day quote. End-of-day quote Hong Kong Stock Exchange - 11/26
8.13 HKD   -0.12%
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Nissan to raise output capacity in China by 30% - Yomiuri

10/26/2020 | 11:04pm EST
The brand logo of Nissan Motor Corp. is displayed during a press preview of the company's new Ariya all-battery SUV in Yokohama

TOKYO (Reuters) - Nissan Motor plans to increase its production capacity in China by 30% next year, aiming to tap a recovery in demand in the world's biggest auto market as it seeks to turn around its loss-making business, the Yomiuri newspaper reported on Tuesday.

The Japanese carmaker will set up production lines at two factories owned by joint venture partner Dongfeng Motor Group in Wuhan, Hubei province and in Changzhou, Jiangsu province, boosting its production bases in China to six from four now, the Yomiuri said.

That will enable Nissan to raise its annual production capacity there to 1.8 million vehicles from 1.4 million, ahead of Japanese rivals Toyota Motor and Honda Motor in Chinese output capacity, the Yomiuri said.

Nissan will also release seven new models in China by 2022, including its new electric vehicle Ariya, the Japanese newspaper said.

Nissan did not comment directly on the reported plan. It said by email that the overall progress of its projects was on track despite the impact of the COVID-19 pandemic.

The company also said it had been keeping a healthy utilisation rate at the Dongfeng Nissan plants while closely watching consumer trends and sales growth.

In July, Nissan warned of a record 470 billion yen ($4.5 billion) operating loss this year and its lowest sales in a decade as the pandemic hampers its turnaround efforts.

(Reporting by Chris Gallagher; editing by Uttaresh.V)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
DONGFENG MOTOR GROUP COMPANY LIMITED -0.12% 8.13 End-of-day quote.10.91%
HONDA MOTOR CO., LTD. -2.00% 2996 End-of-day quote.-3.32%
NISSAN MOTOR CO., LTD. -1.97% 527.6 End-of-day quote.-17.06%
TOYOTA INDUSTRIES CORPORATION 0.65% 7770 End-of-day quote.22.75%
TOYOTA MOTOR CORPORATION -0.67% 7301 End-of-day quote.-5.35%
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Financials
Sales 2020 102 B 15 486 M 15 486 M
Net income 2020 9 486 M 1 442 M 1 442 M
Net Debt 2020 21 519 M 3 272 M 3 272 M
P/E ratio 2020 6,28x
Yield 2020 4,10%
Capitalization 59 429 M 9 038 M 9 036 M
EV / Sales 2020 0,79x
EV / Sales 2021 0,74x
Nbr of Employees 136 549
Free-Float 30,8%
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 8,13 CNY
Last Close Price 6,90 CNY
Spread / Highest target 87,0%
Spread / Average Target 17,9%
Spread / Lowest Target -31,6%
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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