Jianghuai Automobile Report of loss

Each reporter Song Yuandong by the car market sales surge, Jianghuai Auto (600418, closing price of 6.14 yuan) May car sales also increased significantly year-on-year. In May, Jianghuai cars sold 5,124 cars, compared with only 517 in the same period last year, a significant increase of 891%.　　The Better-than-expected sales have also placed high hopes on the company's future performance, with CICC's latest report sharply raising its forecast for the year, with earnings per share up to 0.20 yuan, up 30% from the previous increase. Pre-May car sales surge 317% of Jianghuai Automobile released the production and Sales Express, the company's 5-month cumulative manufacturing vehicle and chassis 122,200, year-on-year growth of 14.98%, the first 5 months total sales of vehicles and chassis 120,600, the year-on-year increase of 11.81%, including cars, MPV and light card production and sales have different degrees of increase.　　In the first 5 months, the company sold 22,500 cars, up 316.88% from a year earlier. Industry insiders believe that the current company car sales growth in front of the car business or will become the company's 2009-year performance reversal of the key.　　In the first quarter of this year, the company lost 73.07 million yuan. CICC analyst Wang Zhihui that the company's profitability of light card recovery significantly, Rui Feng business vehicle gross margin maintained at a higher level, and the car project is experiencing from sales growth to the process of rebuilding profitability, the 2009 car project is expected to significantly 减亏, 2010 is expected to achieve break-even.　　At the same time, the second quarter of this year is expected to reverse the profitability of the company, the possibility of a greater loss of profit. Meanwhile, CICC raised its earnings forecast for 2009 and 2010 to 0.20 yuan and 0.41 yuan, compared with the previous increase of 30% and 37% respectively. CICC also believes that the first quarter of this year, Jianghuai automobile losses, should be in accordance with the normal profitability of 2010 valuation.　　The current share price of the 2010-year earnings ratio is still lower than the industry average, based on the company's fundamental forecasts, the conservative target price should be 7.38 yuan, corresponding to the 2010 18 times-fold dynamic earnings ratio, and more than 20% of the rising space to maintain a "prudent recommendation" rating.　　Company: the report of the loss of the Chinese newspaper this April 23, Jianghuai Automobile issued a quarterly report, said, because the company car is in the import period, has not yet formed a scale effect, the company's financial sector preliminary forecast, the company January ~ June Cumulative net profit compared with the same period a year ago will fall more than 50% Will May's outstanding data make a difference in the company's performance forecasts? Jianghuai Auto Securities executives yesterday to the daily economic news reporter cautioned that May sales figures are indeed good. At present, it seems that there should be no problem in the report, but the forecast of 50% or more is still unchanged. "If the profit forecast changes, we will announce in time!"　　The official said that the June sales figures will not be possible to further forecast. "There is no company and Chery Automobile restructuring plan." In view of the companyand controlling shareholders are state-controlled companies, there is no way to predict whether the restructuring will take place in the next three months.　　"The company has recently issued a reorganization of the media report to clarify the announcement is very worth pondering, the industry generally believe that the announcement of the message to further strengthen the market restructuring expectations." Yesterday, the company said in an interview with reporters that the restructuring has not yet progressed, if there is progress in the company will be announced. This, he says, is only a government plan.