In 2007, the profit of automobile key enterprises increased by more than 70%
In the first 11 months of 2007, key enterprises in the automobile industry continued to show strong performance, with sustained rapid growth in output, revenue, and profitability. The sector remained one of the most dynamic in China’s industrial landscape, driven by rising demand and improved operational efficiency.
**Rapid Growth in Industrial Output**
The total added value of key auto companies reached 208.86 billion yuan from January to November, reflecting a year-on-year increase of 31.85%. This growth outperformed the overall industrial growth rate for enterprises above a certain size, which stood at 18.50%. The cumulative industrial output value also rose significantly, reaching 858.29 billion yuan, an increase of 28.67% compared to the same period last year. Sales output amounted to 839.695 billion yuan, growing by 29.93% year-on-year. The sales-to-production ratio remained high at 97.83%, indicating a strong alignment between production and market demand.
**Revenue Growth Exceeds 1 Trillion Yuan**
Key automotive enterprises saw their main business revenue reach 915.754 billion yuan during the first 11 months of 2007, up 27.12% from the previous year. Based on this growth rate, it is expected that the total revenue of these enterprises will surpass 1 trillion yuan in 2007. Among the 16 major groups, 14 reported higher revenue than the same period last year, with several achieving double-digit growth. Companies like CNHTC, Southeast, and Guangzhou saw growth rates exceeding 50%, while others such as Brilliance, Chery, and Geely maintained growth above 30%.
**Profitability Remains Strong**
Total profits for key auto enterprises reached 58.958 billion yuan from January to November, marking a 75.64% year-on-year increase. With this momentum, the sector is projected to exceed 60 billion yuan in total profit for the year. Combined profits and taxes totaled 115.64 billion yuan, a 47.99% increase over the previous year. Several top performers, including FAW, Qingling, and Chery, saw three-digit profit growth, while others like Guangzhou and CNHTC recorded growth rates above 50%.
**Inventory and Accounts Receivable Trends**
At the end of November, the net accounts receivable of key auto enterprises increased to 55.585 billion yuan, up 20.97% year-on-year. The inventory of finished goods also rose, reaching 47.85 billion yuan, an increase of 16.18% compared to the same period last year. These figures indicate a slight rise in working capital requirements, with accounts receivable and inventory accounting for 24.46% of current assets, up 0.46 percentage points from the end of October.
Overall, the Chinese auto industry demonstrated robust performance in 2007, with strong growth across multiple metrics, setting the stage for further expansion in the following years.
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