Geely, SAIC see rise in profits, JMC and FAW Car record decline

Nine China’s listed auto companies — Geely, Great Wall, JMC, FAW Car, TianJin FAW Xiali, BYD, BAIC, GAC, S

AIC — announced their 2018 financial results, news portal National Business Daily reported on Thursday.

The portal said the vehicle sales and net profits of Geely and SAIC increased in 2018, while the figures of JMC and FAW Car decreased.

Geely reported its revenue rose 15 percent year-on-year to 106.6 billion yuan last year, the net profits attributable to s

hareholders increased 18.05 percent to 12.55 billion yuan, and the vehicle cumulative

sales (including the company’s subsidiary brand LYNK&CO) reached 1.5 million units, surging 20 percent.

Great Wall’s revenue and vehicle sales in 2018 were 99.23 billion yuan

and 1.04 million units, respectively, a 1.92 percent and 1.63 percent decline from a year ear

lier, while its net profits attributable to shareholders saw a rise of 3.58 percent to 5.2 billion yuan.