2018, industry of our country automobile is added fast put delay, negative growth appears first since 1990 oneself. Car K line will be wide collect, the country is machine, giant group of 3 large agency is put together compare discovery, regard straight face as the first line of defence of the market, agency is opposite to answer market economic atmosphere, some choices extend some new business domain, choices to sell inn thin body.

Below mode of traditional car distribute, the main classics business condition of agency is mode of brand 4S inn, its are main it is service revenue of appreciation of income of the maintenance after sale gain, manufacturer returns benefit, carry out, other that gain is formed.

In recent years, automobile industry is added fast put delay continuously, pure support new car sells the gain requirement that already satisfied car dealer hard, the market after car K line discovers one part agency to changing profit drop to carry out trades with two handcart the market. Occupy data of statistic of association of Chinese auto industry to show, 2018, car produce and sale finishs twenty-seven million eight hundred and nine thousand to mix twenty-eight million and eighty-one thousand respectively, produce sales volume comparing to go up year of the corresponding period drop respectively 4.2% with 2.8% .

One, wide assemble a car

Wide collect a car to serve as China the biggest what implement scale most by the distribute that use a car and service group, China is luxurious by the distribute that use a car and service group, China the biggest rent a provider by the financing that use a car, basically be engaged in taking the sell on commission that use a car, by the after service that use a car, by wait for the professional work that covers a car to serve complete lifecycle with Che Yansheng.

1, how does refine become capacity of one billion two hundred and fifteen million seven hundred and fifty-two thousand one hundred and ninety-two system

According to wide those who collect a car to announce money signed up for data to show 2018, company business income achieves one hundred and sixty-six billion one hundred and seventy-three million yuan, grow 3.4% compared to the same period; However, vest in appears on the market the net gain of company shareholder 3.257 billion yuan, glide compared to the same period 16.27% ; Vest in appears on the market of company shareholder unless,buckle regular the net profit of increase and decrease 2.916 billion yuan, glide compared to the same period 19.91% .

2018, wide assemble a car basic every accrual is 0.39 yuan / , glided 2017 compared to the same period 26.42% , but with kept balance 2016; Unless,buckle regular after increase and decrease basic every accrual is 0.35 yuan / , glide compared to the same period 30% .

Sign up for an explanation according to money, wide collect a car to did business 2018 income increases, basically be dilate of dimensions of business of benefit from benefit from and market sale are popularized in order, new car stage of selling quantity, maintenance entering the arena second, the portfolio promotion such as two handcart representative, income scale increases somewhat.

Vest in appears on the market the net gain of company shareholder and unless,buckle regular the net profit of increase and decrease decreases, because commerce chafes,be on one hand, wave motion of RMB exchange rate is bigger cause exchange loss; On the other hand, because Chinese automobile industry is in,greet enjoy growth first, reason stems from careful sex invest to rights and interests inside report period originally reach business praise plan carried the preparation that reduce a cost.

2, capital total increases, cash shedding decreases

End on December 31, 2018, total of capital of the wide car that collect steam one hundred and forty-one billion four hundred and ninety-three million yuan, relatively the beginning of the year increases 6.194 billion yuan, grow 4.58% compared to the same period, advocate if the company continued to purchase integrated development 2018,the strategy and implementation manage excessive profit, company assets dimensions is able to increase.

Among them, liquid assets eighty-five billion four hundred and fifty-one million yuan, increase 3.173 billion yuan than the beginning of the year, liquid assets holds total assets proportion 60.39% , relatively proportion of the beginning of the year 60.81% reduce 0.42 percent; Be not liquid assets fifty-six billion and forty-one million yuan, increase 3.02 billion yuan than the beginning of the year, be not liquid assets to hold total assets proportion 39.61% , relatively of the beginning of the year 39.18% rise 0.42 percent.

Vest in appears on the market the net assets of company shareholder achieves thirty-seven billion and fifteen million yuan, grow 4.65% compared to the same period; Always be in debt ninety-five billion three hundred and eight million yuan; Indebted rate obtains capital fund 67.36% , come 3 years asset is indebted the circumstance is firm in have fall; Rate of going from place to place 1.12, decrease compared to the same period 0.08.

Money newspaper shows, inside report period wide collect car cash and cash equivalent to increase the forehead to be completely - 8.513 billion yuan, reduce nineteen billion three hundred and twenty-two million yuan compared to the same period, fall 178.76% . Among them:

The cash flow net specified number that management activity produces is 2.16 billion yuan, reduce 2.824 billion yuan compared to the same period, fall 56.66% , basically be to sell stock up to cause goods in stock to increase 1.97 billion be caused by compared to the same period.

The cash flow net specified amount that invests mobile generation is - 6.515 billion yuan, decrease compared to the same period 1.668 billion, fall 34.4% , basically be to buy paying cash to increase be caused by considerably compared to the same period.

Raise fund the cash flow net specified number that the activity produces is - 4.176 billion yuan, reduce forteen billion nine hundred and eighteen million yuan compared to the same period, fall 138.88% , basically was 2017 wide collect He Baoxin to issue stock collect capital to reach the designated position, dimensions of financing of the current year is relatively lesser be caused by.

3, advocate business Wu is small add, two handcart trade increase sharply

Money newspaper shows, wide 2018 collect a car to realize business income one hundred and sixty-six billion one hundred and seventy-three million yuan, increase compared to the same period 3.4% ; Operating costs one hundred and forty-nine billion and forty million yuan, increase compared to the same period 2.73% ; Gross profit is led 10.31% , increase 0.59 percent compared to the same period.

Make give priority to business Wu, wide assemble a car truckload 2018 the sale realizes business income one hundred and forty-two billion six hundred and seventy-one million yuan, increase compared to the same period 1.49% ; Operating costs one hundred and thirty-seven billion one hundred and sixty-three million yuan, synchronism increases 1.48% ; Wool interest rate is 3.86% , compared to the same period small increase 0.01 percent.

Wide 2018 collect a car to add up to sell new car eight hundred and eighty-one thousand seven hundred, increase compared to the same period 0.05% . Among them, implementation net sells a station second three hundred and one thousand seven hundred, occupy than amounting to 34.10% . Stocks one hundred and ten thousand five hundred, increase compared to the same period 29.36% , money signs up for an explanation to say its are main is to be 2019 be caused by of Spring Festival stock up. But look at present, because market environment is low,confuse, these inventory may give wide collect a car to bring greater management pressure.

Stand entering the arena is maintained after carry out second eight million and thirty thousand seven hundred, increase compared to the same period 11.84% , maintain income fifteen billion two hundred and thirty-three million yuan, grow 15.36% compared to the same period.

Financing is rented produce a station second two hundred and thirty thousand three hundred, increase compared to the same period 9.33% ; Two handcart representative trades stage second three hundred and two thousand seven hundred,

Up to on December 31, 2018, wide collect a car to add up to own 839 doors store, include 777 4S store among them, enclothe 28 province, city of countrywide, municipality. Relatively end added 47 doors store 2017, because suffer,tear open change and politic sex to adjust etc close door store 8.

4, outstanding achievement glided first quarter 2019

According to wide collect a car to release money signed up for data to show first quarter 2019, 2019 1-3 month, wide collect car business income to be 37.3 billion yuan, drop compared to the same period 5.49% ; Vest in appears on the market the net gain of company shareholder is 801 million yuan, drop compared to the same period 28.36% ; Vest in appears on the market of company shareholder unless,buckle regular the net profit of increase and decrease is 855 million yuan, drop compared to the same period 20.91% .

End on March 31, 2019, wide collect car total assets one hundred and thirty-six billion four hundred and fifty-nine million yuan, relatively dropped on December 31, 2018 3.56% ; Vest in appears on the market the net assets of company shareholder is thirty-seven billion six hundred and eighty-two million yuan, relatively grew 1.8% on December 31, 2018.

Car K line thinks, as industry environment low fan, regard agency as bibcock, although have one,decide dimensions fight risk ability, but industry environment is affected to its also will be the biggest.

2, country machine car

Machine car established the country on March 26, 1999, belong to large car integrated service industry. Main management activity is a car wholesale reach commerce service, car is retail service of the market after reaching service, car. Hanged out his shingle in Shanghai stock exchange on March 5, 2001 appear on the market.

1, country machine car: Battalion closes glide, sales volume grows

Data of newspaper of 2018 year money shows car of the machine that occupy a country, company business income achieves forty-four billion two hundred and fifty-two million yuan, glide compared to the same period 11.92% ; Vest in appears on the market the net gain of company shareholder 594 million yuan, glide compared to the same period 11.28% ; Vest in appears on the market of company shareholder unless,buckle regular the net profit of increase and decrease 532 million yuan, glide compared to the same period 8.11% .

Money signs up for data to show, machine car business income was the country 2018 forty-four billion two hundred and fifty-two million yuan, glide compared to the same period 11.92% ; Operating costs is forty-one billion five hundred and eighteen million yuan, drop compared to the same period 12.14% .

Among them, the car is wholesale the operating costs of the market after reaching commerce service, car, business income, and wool interest rate all has glide; And the operating costs with retail car, business income, and wool interest rate all has growth.

Because machine car increased the country 2018,the growth with retail car basically is new brand develops strength, acquire manufacturer 8 accredit, start business of 4 new store, still many annex buy a project to be advanced steadily.

Make give priority to business Wu, 2018 country machine car is truckload sell one hundred and seventy-two thousand eight hundred, grow 10.64% compared to the same period; Stocks thirty-six thousand six hundred, grow 26.69% compared to the same period. In the meantime, car sale realizes business income forty billion four hundred and sixty-seven million yuan, relatively on year the corresponding period drops 12.89% ; Operating costs is thirty-nine billion one hundred and eleven million yuan, relatively on year the corresponding period drops 12.66% ; Gross profit is led 3.35% , relatively on year the corresponding period reduces 0.26 percent.

2, net assets grows, asset indebted rate falls

End on December 31, 2018, country machine car total assets twenty-four billion eight hundred and sixty-seven million yuan, relatively end dropped 2017 4.03% ; Vest in appears on the market the net assets of company shareholder is 7.928 billion yuan, grow 594 million yuan compared to the same period; Always be in debt it is sixteen billion nine hundred and fifteen million yuan, relatively on year the corresponding period glides 7.67% ; Indebted rate obtains capital fund 68.02% , relatively on of year end 70.71% drop 3.8% .

In asset, imprest money relatively on year end grows 98.31% , achieve 2.937 billion yuan, because,basically be this period purchase imprest to increase; In build project amount to be 876 million yuan, 0.35% what occupy total assets, relatively on year end grows 110.14% , because stay,basically be card car increases.

In be in debt, the blame flow that expires inside a year is indebted amount is 121 million yuan, relatively go up 2 million yuan of growth of year end 5963.68% , basically be the loan heavy classification that expires inside a year; In addition be in debt without other flow with long-term loan.

Money newspaper shows, the cash flow net specified number that management activity of car of plane of the nation inside report period produces is 1.742 billion yuan, main as a result of this period the cash of management sex discharges amount less; The cash flow net specified amount that invests mobile generation is - 560 million yuan, basically be to invest external and buy the cash reserve in a bank that builds the long-term capital fund such as fixed assets to pay; Raise fund the cash flow net specified number that the activity produces is - 2.06 billion yuan, advocate if this year repays,ready money of outside borrow or lend money is poured out of have than last year relatively rise substantially.

3, index of crucial first quarter outstanding achievement glides

With wide assemble a car similar, machine car enters the country after 2019, the day is uneasy also.

According to what machine car releases the country money signed up for data to show first quarter 2019, 2019 1-3 month, machine car business income is the country 8.949 billion yuan, relatively 10.21 billion yuan of the corresponding period glided 2018 12.35% ; Vest in appears on the market the net gain of company shareholder is 193 million yuan, relatively 201 million yuan of 2018 glide 4.19% ; Vest in appears on the market of company shareholder unless,buckle regular the net profit of increase and decrease is 183 million yuan, relatively 189 million yuan of 2018 glide 3.03% .

2018, be based on the new change of external environment and market situation, machine car defines the nation " 3458 " new strategy of round of development: Breed professional work of 3 one billion four hundred and ten million and sixty-five thousand four hundred and eight course, make 4 big platform, outspread 5 old terminal, develop Wu of 8 great undertaking, those who have a structure is ceaseless optimize. Among them, the mainest is 5 years breed professional work of 3 one billion four hundred and ten million and sixty-five thousand four hundred and eight course, basically include " approve carry out newly " business of business, car of new energy resources, truckload export business.

In the meantime, machine car drafts the country project of the steam in passing the means that issues a share to buy the equity of 100% , implementation industry catenary is in of car engineering field extend, can allot at getting Chinese card watch on March 21, 2019 " to Chinese machinist about Inc. of car of approve nation plane trade group limited company issues share to buy property and the give an official of capital of collect form a complete set " (card inspect is permitted [2019]384 date) . Current, steam project asset already finished infuse in.

3, giant group

Giant group held water in March 2003, advocate business of battalion car distribute and maintenance, conserve, attribute car distribute trade. Company representative sells brand of more than 70 cars, the model includes to multiply wait with car, miniature car, commercial vehicle, hand in place to appear on the market at was in on April 28, 2011.

1, whole is managed gloomy, deficit is close 2018 6.2 billion yuan

According to giant group 2018 year money signs up for data to show, company business income achieves forty-two billion and thirty-four million yuan, glide compared to the same period 40.37% ; Vest in appears on the market the net gain of company shareholder is negative number, be equivalent to deficit 6.155 billion yuan, glide compared to the same period 3003% ; Vest in appears on the market of company shareholder unless,buckle regular the net profit loss of increase and decrease 6.841 billion yuan, glide compared to the same period 3174% .

Because the parent company can offer partner distributive profit to be,lose, 2018 year do not have giant group profit allocation, also do not undertake accumulation fund turns add capital stock.

(giant group shares out bonus in recent years circumstance)

Money signs up for data to show, business income of giant 2018 group is forty-two billion and thirty-four million yuan, drop compared to the same period 40.37% ; Operating costs is forty-one billion seven hundred and sixty-three million yuan, drop compared to the same period 34.72% . relatively rank 100 powerful agency by right of seventy billion four hundred and eighty-five million yuan of business income at giant 2017 group the 4th achievement, 2018 giant really some are gloomy.

2, advocate business Wu is fatigued and weak, giant abandon 228 distribute site

Make give priority to business Wu, car sale realizes business income thirty-four billion seven hundred and seventy-three million yuan, relatively on year the corresponding period drops 43.25% ; Operating costs is thirty-seven billion three hundred and ninety-three million yuan, relatively on year the corresponding period drops 36.68% ; Wool interest rate is - 7.54% , relatively on year the corresponding period reduces 11.16 percent.

2018, giant group realizes sales volume two hundred and fifty-one thousand nine hundred, relatively on year the corresponding period reduces two hundred and twenty-nine thousand eight hundred. To this, announcement explanation: "Because capital of the company inside report period is nervous, purchase volume capital to be not worth serious effect company to purchase reach a sale, because the company purchases a quantity to be not worth, to reach target of each assessment inside manufacturer year, cannot full specified amount obtains manufacturer privilege policy and return benefit to prop up, in the meantime, the company is eager to changing show stock, partly library age is longer car can sale, bring about management cost ascendant gross profit to drop. Bring about management cost ascendant gross profit to drop..

Up to on December 31, 2018, giant group at China 28 provinces, city, municipality and Mongolia country own 806 management sites, relatively on year end reduces 229.

3, indebted rate takes asset continuously tall, enormous liquidity owes beautiful

End on December 31, 2018, giant group total assets 32.87 billion yuan, always be in debt 26.39 billion yuan, indebted rate obtains capital fund 80.29% . In fact, since appear on the market, indebted rate resides giant group assets not to fall high continuously, came 2011 2017, indebted rate is company assets respectively 81.33% , 85.89% , 86.01% , 81.90% , 80.28% , 81.52% , 78.93% .

The report shows, the cash that giant group management activity generates inside report period flows net specified number to be - twelve billion two hundred and thirty-one million yuan, reduce 9.743 billion yuan compared to the same period, because buy,basically be truckload fund expenses over sell a car to call in paragraph, oneself hematopoiesis ability makes a person anxious.

4, did not improve first quarter, giant frequency shows a dangerous situation

According to what giant group releases money signed up for data to show first quarter 2019, 2019 1-3 month, giant group business income is 4.483 billion yuan, relatively the corresponding period dropped 2018 68.26% ; Operating costs 4.08 billion yuan, relatively the corresponding period dropped 2018 68.09% ; Vest in appears on the market the net gain of company shareholder is - 489 million yuan, relatively the corresponding period glided 2018 1168% ; Vest in appears on the market of company shareholder unless,buckle regular the net profit of increase and decrease is - 498 million yuan, relatively the corresponding period glided 2018 2520% . No matter be battalion,closing still is profit, giant group still is handled drop condition.

May, frequency of giant group crisis is sent. It is a running fire of case asking ask that handed in place on May 12 first 33 ask; Was applied for by creditor on May 13 then reforming; Handed in place to give out on May 21 next disciplinary treatment decides a book. The shooting star places weight greatly, one hammer another hammer, enter the giant hammer that already was immersed in deficit and debt status originally land base in. Sole rebounds, be afraid of only is to must want to rely on external force.

4, 3 big agency are comparative

2017, wide collect car of plane of car, nation, giant group to be ranked respectively by right of management income the 1st, the 7th, the 4th.

2018, only 3 person, wide the business income that assembles a car still ranks 1, and machine car surmounts the country slightly giant group.

Truckload sell a field, wide collect a car to sell grade by right of eight hundred and eighty-one thousand seven hundred row the first, giant group is on the 2nd by right of two hundred and fifty-one thousand nine hundred, country machine car with the achievement seniority of one hundred and seventy-two thousand eight hundred the 3rd.

K line viewpoint: 2018, produce and sale of car market whole glides, agency income hard to avoid can be affected. Below the circumstance that continues to bring accrual increment for agency hard in new car sales volume, wide collect a car to choose to trade to the market after carry out, two handcart market change, maintain battalion to restrain small growth; Country machine car takes aim the look to new retail, new energy resources, and foreign trade direction, obtain the growth of sales volume; Giant group lives through selling intent of inn thin body to get, be immersed in a series of issue issue however however in, place is extremely difficult.