Market value of 8 dealers evaporated 10.9 billion yuan in September

category:Finance
 Market value of 8 dealers evaporated 10.9 billion yuan in September


Strong performance of Meidong automobile

Among the 10 listed auto dealer groups, the most outstanding one is Meidong automobile, which is one of the only two dealer groups whose market value rose in September. In fact, not only in September, but also in the first three quarters of this year.

Mideasts share price is still up. As of October 16, the closing price of Mideast was HK $30.85/share, with a total market value of HK $38.39 billion. Meidong automobiles strong performance in the capital market is considered to be related to its layout in low and medium-sized cities and its grasp of the growth dividend of luxury car penetration. According to relevant data released by Meidong automobile, the proportion of luxury brand stores in the third to fifth tier cities has jumped to 64% in 2019.

In addition, the growing luxury car market has also added a fire to Meidong automobile, which mainly sells luxury cars. According to the data of CAAC, the domestic luxury car retail sales in September increased by about 33% year-on-year, 5% month on month, and the market share was about 15%, reaching a historical high.

Different from Meidong automobile, Yongda Automobile, which also takes luxury cars as the main sales body, did not perform so well in September. In September, Yongda motors share price fell by about 3.4%, and its market value evaporated by HK $651 million.

Rely on luxury cars to drive performance

In the first three quarters of this year, although the stock price and market value of Meidong motor showed a growth trend, Zhongsheng holding still ranked first among the 10 listed auto dealer groups with a market value of 109.837 billion yuan, and Meidong automobile ranked second.

According to the statistics of some institutions on October 12, the capital outflow from the mainland stock exchange of Guanghui Automobile Co., Ltd. in the past five days, the capital outflow from the mainland stock exchange was 110100 yuan only, and the accumulated net sales of funds from northbound capital in the past five days was 872400 yuan, indicating that foreign capital has been continuously flowing out in the near future. In this regard, a number of investors inquired about the reasons for the sharp drop in the companys share price and market value. But Guanghui did not specify.

Recently, the market value of Rundong automobile and Zhengtong automobile, which were in debt crisis recently, shrank by nearly 70% in the first three quarters. In addition, the market value of harmony automobile and * ST giant in the first three quarters also shrank by more than 20%.

At present, Guanghui automobile has stepped up the transformation of stores, transforming the less profitable brand into the more profitable luxury car brand and Japanese brand. According to the data, in 2019, Guanghuis luxury car stores account for 29%. This figure is obviously lower than 58% of the number of luxury car brand stores held by Zhongsheng. In addition to increasing the number of luxury car brand stores, the automotive aftermarket business has also become the profit source of the head auto dealer group. For example, Zhongsheng holdings profit sources in 2019 mainly come from new car sales, after-sales service and financial insurance commission, which are 2.9 billion yuan, 8.6 billion yuan and 2.9 billion yuan respectively. Ping An Securities Research Report believes that although domestic auto dealers have the opportunity to further expand the after-sales stock market, as well as the large trading volume and average transaction price space of second-hand cars, they are also facing the challenges brought by the emergence of vehicle manufacturers and third-party after-sales, as well as the direct sales mode of manufacturers. Source: Daily Economic News Author: Duan siyao, editor in charge: Wang Xiaowu_ NF

At present, Guanghui automobile has stepped up the transformation of stores, transforming the less profitable brand into the more profitable luxury car brand and Japanese brand. According to the data, in 2019, Guanghuis luxury car stores account for 29%. This figure is obviously lower than 58% of the number of luxury car brand stores held by Zhongsheng.

In addition to increasing the number of luxury car brand stores, the automotive aftermarket business has also become the profit source of the head auto dealer group. For example, Zhongsheng holdings profit sources in 2019 mainly come from new car sales, after-sales service and financial insurance commission, which are 2.9 billion yuan, 8.6 billion yuan and 2.9 billion yuan respectively.

Ping An Securities Research Report believes that although domestic auto dealers have the opportunity to further expand the after-sales stock market, as well as the large trading volume and average transaction price space of second-hand cars, they are also facing the challenges brought by the emergence of vehicle manufacturers and third-party after-sales, as well as the direct sales mode of manufacturers.