Futian Motor Has Seen A Double Dip For Third Consecutive Months.

In the evening of November 15th, Futian Automobile (600166.SH) announces the announcement of production and sales data. In October, the company produced 52 thousand and 200 vehicles, down 0.39% compared to the same period last year, and sold 50 thousand and 400 vehicles, down 0.43% compared to the same period last year, appearing for third consecutive months. Double drop However, compared with production and sales in September, the decrease was 7.1% and 6.4% respectively.

In addition, the company's auto production and sales in October decreased by 2.61% and 0.8% respectively compared with last month. However, this decline is lower than the China Automotive Industry Association (hereinafter referred to as the Automobile Association) released the October 2010 auto industry chain decline. In November 9th, China Automotive Association released data showing that in October, China's auto production and sales were completed by 1 million 540 thousand vehicles and 1 million 540 thousand vehicles respectively, down by 3.26% and 1.16% respectively. Statistics in recent five years show that the October production and sales data, which is affected by the National Day holiday, is an average decrease of 9.2% over September.

The announcement shows that it is the focus of the company. Profitable business The heavy-duty card produced 9429 vehicles in October, an increase of 12.18% over the same period, and sales of 8115 vehicles, a decrease of 4.76% compared with the same period last year. The output of light trucks was 40 thousand and 400, a decrease of 0.25% over the same period last year, and sales of 39 thousand and 300 vehicles, an increase of 2.31% over the same period.

In the 1-10 month of this year, the company accumulates 558 thousand cars, an increase of 9% over the same period, and accumulates 571 thousand and 100 cars, an increase of 15% over the same period last year.

The CITIC Securities Research Report said that the company's investment of about 2 billion 100 million yuan of the Oman two plant is expected to be put into operation in early 2011, with an annual design capacity of 60 thousand -8 units. The total annual capacity of the heavy truck will reach 120 thousand -16 million after delivery, and the pressure capacity of the medium heavy truck is expected to be eased. Benefiting from the sustained high visibility of the commercial vehicle market in 2010, it is expected that the company will achieve 700 thousand car sales throughout the year, up 16.3% over the previous year. It is estimated that the company's fully diluted earnings per share in 2010 will be 1.92 yuan.