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Interim report 2007. 30 Aug 2007. HK000KL3. I 、 PRC Auto Industry Overview in 1H2007 II 、 DFG Business Overview in 1H2007 III 、 DFG Financial Performance in 1H2007 IV 、 Outlook of DFG and PRC Auto Industry in 2007. I 、 PRC Auto Industry Overview in 1H2007.
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Interim report 2007 30 Aug 2007 HK000KL3
I、PRC Auto Industry Overview in 1H2007II、DFG Business Overview in 1H2007 III、DFG Financial Performance in 1H2007IV、Outlook of DFG and PRC Auto Industry in 2007
I、PRC Auto Industry Overview in 1H2007 • Rapid Development of PRC Auto Industry • More Extensive Choices for Consumers with Constant Launch of New Models • CV Growth Higher than Industry Expectation, with Heavy Duty Truck Segment Recording Outstanding Increase • Overall Industry Profitability Improved , while Downward Price Pressure Still Exists • Auto Consumption Expands from 1st Tier Cities to 2nd Tier Cities, Which Rapidly Drives Auto Sales Growth • Rapidly Rising Self-owned Brands Which Targets at Low End Market
Growth Rate: 22.2% 1.Rapid Growth of PRC Auto Industry PRC Total Vehicle Sales Volume PRC Total PV Sales Volume1 000’ units 000’ units Growth rate: 23.3% PRC Total CV Sales Volume 000’ units Growth Rate: 25.9% China Association of Automobile Manufactures (CAAM) Note1：According to CAAM’s segmentation, passenger vehicles include passenger car, MPV, SUVand cross-over vehicles
S-MAX 荣威 瑞鹰 明锐 海马3 卡罗拉 长安杰勋 三厢威志 两厢F3 奇瑞A1 骊威 两厢天语 森雅 RIO千里马 长安天语 浪迪 Jan Jun 2. More Extensive Choices for Consumers with Constant Launch of New Models Brand New PV Models in 1H2007 Model Launches and Price Range Distribution 200,000- 300,000 100,000—200,000 Below 100,000 Feb Mar Apr May RMB0,000
3. CV Growth Higher than Industry Expectation, with Heavy Duty Truck Segment Recording Outstanding Increase Favorable Macro Economy Boosted Fast Growth of HDT Impact from Implementation of Weight Tolling Upgrade of Highway Transportation Network and Demand Growth for Highway Freight Pre-consumption of HDT Due to Coming Implementation of National III Emission Standard
4. Overall Industry Profitability Improved , while Downward Price Pressure Still Exists Stabilizing Auto Industry Profitability Improved Auto Industry Profitability Source: CICC Research Report Source：CAAC
5. Rapidly Rising Self-owned Brands Which Targets at Low End Market Market Position of Self-owned Brands Rapidly Enhanced Self-owned Brands Target at Low Medium End Markets Source：CICCAuto Industry Report
6. Auto Consumption Expands from 1st Tier Cities to 2nd Tier Cities, Which Rapidly Drives Auto Sales Growth Ownership Rate in 1st Tier Cities Ownership Rate in 1st Tier Cities Source:CICC Auto Industry Report
II、DFG Business Overview in 1H2007 • Stable Growth of DFG Business in 1H2007 • Segments Sales and Market Share of DFG • Stable Growth of DFG PV Business • Constant Launch of Competitive New Models • Steady Production Capacity Expansion Plan • Continuous Improvement of Local Content Ratio
000’units Growth rate: 28.3% 000’units Growth rate: 28.5% 000’units Growth rate: 28.8% 1. Stable Growth of DFG Business in 1H2007 Steady Growth of Auto Sales Steady Growth of PV Sales DFG’s total sales reached 460,000 units in 1H2007, representing a YoY growth of 28.5%, higher than the industry average of 23.3%. Among which, PV sales grew by 28.3%, and CV sales grew by 28.8%. Rapid Growth of CV Business
2. Segments Sales and Market Share of DFG 000’ units ■11.4% ■11.3% ■11.4% ■10.6% ■10.5% ■11.3% ■21.8% ■21.6% ■17.2% ■14% ■14.9% ■13.9% ■24.8% ■23.7% ■26% ■12.3% ■11.6% ■15.9%
Dongfeng Nissan Company Ltd Growth rate: 1.55% Dongfeng Peugeot Citroen Co.,Ltd PSA Peugeot Citroën Dongfeng Honda Automobile Co.,Ltd Growth rate: 169.03% Growth rate: 29.16% 3. Stable Growth of DFG PV Business DFG total sales reached 299,000 units in 1H2007, representing a YoY increase of 28.3% 0’unit
C2 Livina C-Triomphe New CRV Livina Geniss Sylphy New Picasso Civic New Teana 4. Constant Launch of Competitive New Models Newly launched models were well received by the market 3 brand-new models were launched in 1H • Dongfeng Peugeot Citroen (DPCA) • On March 24th, brand new Sara Picasso was launched to the market. By the end of July, aggregate sales reached approximately 4000 units • Dongfeng Motor Company (DFL) • On April 22nd, DFL’s brand new Livina made its debut. By the end of July, aggregate sales reached 19585 units • Dongfeng Honda Automobile Co.,Ltd (DHAC) • On April 18th，Dongfeng Honda new CRV went to the market. It has been warmly received by the market ever since its debut. By the end of July, aggregate sales reached 15047 units. Model New models launched in 2006 New Peugeot307 Peugeot 206 2006 1H2007
5. Steady Production Capacity Expansion Plan Steady Production Capacity Expansion Plan Steady Growth of Utilization Rate 000’units 000’units
III. DFG Financial Performance in 1H2007 • Stable Growth of Major Business • Steady Growth of Gross Profit • Ever Enhanced Profitability and Operation Effectiveness
Million RMB 28809 23.7% 23282 1. Stable Growth of Major Business Sales Revenue Structure and Breakdown Sales Revenue Growth Million RMB
2. Steady Growth of Gross Profit DFG Gross Profit and GP Margin PV GP Margin Million RMB CV GP Margin
3. Ever Enhanced Profitability and Operation Effectiveness Improved Net Profit & NP Margin Improved ROE Million RMB Improved Turnover Rate
Growth Prospect of PRC Auto Industry According to the forecast of our Group’s business plan, total PRC auto demand would reach 8,573,000 units in 2007 ( including 157,000 units of imported vehicles); annual PV demand would reach 6,321,000 units( if imported PV 150,000 units excluded, sales of domestically manufactured PV would be 6,171,000 units), representing a growth of 16.96% compared with total sales of 5,404,000 units in 2006( including 227,700 units of imported PVs; total CV sales is expected to reach 2,252,000 units ( including 7000 units imported CV ), with a YoY growth of 9.8%. Annual sales target of our Group is between 900,000 units to 950,000 units with a sales breakdown of 70:30 between PV and CV.
