Changan Automobile terminal sales increased 64.1% year-on-year in September, making it the fastest growing car company in China. The increase of sales volume has been directly reflected in the profits of enterprises. Recently, Changan Automobile released the third quarter performance forecast. It is expected to achieve a net profit of 3.2 billion yuan to 3.8 billion yuan in the first three quarters of 2020, turning losses into profits on a year-on-year basis. Changan Motor stock price this week once rose and closed, reaching a five-year high. This week, Beishang capital invested 211 million yuan to increase its holdings of 11.92 million shares of Changan Automobile, which was the largest net purchase of automobile stocks this week. Beishangs capital increase mainly occurred on Wednesday, with a net purchase of 18.16 million shares. However, on that day, Changan Motor Co., Ltd. rose sharply and fell back, forming a periodic high point. Subsequently, it adjusted for two consecutive trading days, and the increased holdings of Beishang capital were temporarily covered.
The fastest growing segment of the auto industry is new energy vehicles, and traditional car companies have invested heavily. At the end of last week, the registered capital of GAC new energy, a wholly-owned subsidiary of GAC group, increased by 81.28% from 783 million yuan to 1.419 billion yuan, leading to market rumors recently that GAC new energy will operate independently under the brand of aian, and may seek listing on the science and Technology Innovation Board in the future. Under the background of market adjustment, GAC group rose for 4 consecutive days this week, up 18.26%, a new high in more than half a year. In this regard, GAC new energy said that the capital increase is the normal behavior of shareholders, which will be used for the continuous development of new technologies and new products. As for whether to build the series into an independent brand, GAC new energy said the details will be released on the night of new energy vehicle brand in November.
BOC Securities said that the domestic economic recovery, consumer confidence, new products such as Chengdu and Beijing auto show stimulated the market and other favorable factors. The major market segments of commercial vehicles have achieved rapid growth. With the arrival of the peak season of passenger cars and the continuation of favorable policies in various regions, it is expected that car sales will continue to improve in October, and it is expected to usher in an upward cycle lasting for 2 to 3 years.