JAC invested 837 million in wading heavy-duty trucks

On November 29, Jianghuai Automotive announced that its heavy-duty truck project, which involves a total investment of 837 million yuan, has been reviewed by the National Development and Reform Commission. This marks a significant step forward for the company as it expands its presence in the commercial vehicle sector. Earlier reports had suggested that the project would require nearly 1 billion yuan in funding and had already received state approval. However, Jianghuai clarified that the actual investment is 837 million yuan. The project aims to produce 40,000 heavy-duty trucks annually, with 647 million yuan allocated for fixed-asset investment and 190 million yuan for working capital. For the first time, Jianghuai provided detailed financial projections. According to a report submitted to the National Development and Reform Commission by Dongfeng Design and Research Institute Co., Ltd., the project is expected to operate over a six-year production period. Once fully operational, the company anticipates an average annual sales revenue of 4.48 billion yuan, with an average annual profit of 334 million yuan and a post-tax profit of 224 million yuan. Wang Deian, an analyst from Guolian Securities' Automotive Industry Division, noted that Jianghuai's entry into the medium and heavy truck market began in April 2005. Prior to this, the company primarily focused on passenger car chassis and light trucks, making it a relative newcomer in the heavy truck segment. Regarding the impact on the company's stock price, Wang said the project is unlikely to have a major effect. With a total investment of 800 million yuan, it’s considered a modest move within the broader heavy truck industry. Additionally, the project will take several years—approximately six—to reach full production. Wang also highlighted that Jianghuai has updated its earnings estimates. Previously circulated figures, such as a projected sales revenue of 6 billion yuan and a net profit of 400 million yuan, differ from the newly released data. The revised numbers show a more conservative approach, with sales income adjusted down to 4.48 billion yuan and net profit estimated at 334 million yuan. After a two-day upward trend, Jianghuai Automobile rose 2.79% alongside the broader market, closing at 8.10 yuan per share. This performance reflects investor confidence in the company's long-term strategy and expansion plans.

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