Merrill Lynch China Investment Summit Beijing October 14th-16th, 2008
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1 Merrill Lynch China Investment Summit Beijing October 14th-16th, 2008
description
Merrill Lynch China Investment Summit Beijing October 14th-16th, 2008. China Still Remains to be the most Attractive Auto Market Globally. 0 ， 000 unit. Remarkable DFG Sales Record, Above-Industry Growth Rate. D FG Sales Increase Rapidly. - PowerPoint PPT Presentation
Transcript of Merrill Lynch China Investment Summit Beijing October 14th-16th, 2008
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Merrill Lynch China Investment SummitBeijing
October 14th-16th, 2008
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China Still Remains to be the most Attractive Auto Market Globally
00 ，， 000 unit000 unit
36. 631. 9
58. 253. 7
46. 951. 6
43. 3 41. 8949. 61
45. 19
55. 1462. 39
53. 0147. 99
72. 1567. 29
56. 75 55. 76
46. 7152. 81
63. 557. 63
68. 975. 86
71. 71
55. 34
84. 7280. 87
71. 36 72. 6964. 09 67. 16
77. 2869. 23
80. 0983. 9385. 94
66. 35
105. 66
92. 26
83. 55 83. 68
66. 59 62. 9
75. 13
20
30
40
50
60
70
80
90
100
110
J an Feb Mar Apr i l May J une J ul y Aug Sep Oct Nov Dec
2005 2006 2007 2008
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DDFG Sales Increase RapidlyFG Sales Increase Rapidly
Remarkable DFG Sales Record, Above-Industry Growth Rate
DFGDFG Growth Rate Significantly Growth Rate Significantly Higher than Industry AverageHigher than Industry Average
17. 735. 1
49. 524. 6
24. 4
25. 6
31. 2
27. 5
53. 963. 8
0102030405060708090
100
2004 2005 2006 2007 1- 9 2008PV vol ume CV vol ume
0’000 unit0’000 unit
645. 8
65. 9
722. 91
81. 48
0
100
200
300
400
500
600
700
800
行业 DFG1H2007 1H2008
YoY growth:17.22%
YoY grrowth:11.94%
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DFG Sales Revenue Continues to Maintain a Strong Growth Momentum
Strong Growth of Sales RevenueStrong Growth of Sales Revenue PV Sales RevenuePV Sales Revenue
RMB mn
20727
24649
18000
19000
20000
21000
22000
23000
24000
25000
1H07 1H08
PV revenue
CV Sales RevenueCV Sales Revenue
7637
12785
0
2000
4000
6000
8000
10000
12000
14000
1H07 1H08
CV revenue
18.9% YoY Growth
67.4% YoY Growth
RMB mn
RMB mn
4173548264
59318
28809
37896
0
10000
20000
30000
40000
50000
60000
70000
2005 2006 2007 1H2007 1H2008
revenue
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Strong DFG Recurring Net Profit YoY Growth of 56.7%
Gross Profit and Gross MarginGross Profit and Gross Margin EBIT and EBIT RateEBIT and EBIT Rate
60968206
9815
6539
14.6%
16.5%17.3%
17.0%
02000400060008000
1000012000
2005 2006 2007 1H08
13.0%
14.0%
15.0%
16.0%
17.0%
18.0%
Gross profi t Gross profi t margi n
2670 3029
413131787.0%
8.4%6.3%6.4%
010002000300040005000
2005 2006 2007 1H08
0.0%1.0%2.0%3.0%4.0%5.0%6.0%7.0%8.0%9.0%
EBI T EBI T Rate
1601
24722081
3770
4.3%
6.4% 6.5%
3.8%
0
1000
2000
3000
4000
2005 2006 2007 1H2008
0.0%1.0%2.0%3.0%4.0%5.0%6.0%7.0%
Net profit NP margin
RMB:mn
Net Profit and NP MarginNet Profit and NP Margin ROEROE
12207 142881979717713
13.10% 15.70%
23.60% 26.40%
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10000
20000
30000
2005 2006 2007 1H08
0.0%
10.0%
20.0%
30.0%
Shareholders` Equity ROE
RMB:mn
RMB:mn RMB:mn
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PRC Auto Industry Faces Great Challenges
0’000 unit0’000 unit
Total i ndustry sal es vol ume
575. 8721. 6
879. 21000＜
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800
1000
1200
2005 2006 2007 2008
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DFG Business Arrangement for 2H08
DFG Sales Volume
59. 5
75. 1
95110
0
20
40
60
80
100
120
2005 2006 2007 2008
0,000units0,000units
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