GO
| HSI1 | 24,642.51 | +132.42 | 177.48B |
| HSCEI1 | 8,216.84 | +51.06 | 51.28B |
| Back Zoom + Zoom - Block Traded | |
|
CPCA: CN Auto Industry Profit Mounts 24% YoY in Aug, Down 16% in 8M26
2026-09-28 17:21:33 Cui Dongshu, Secretary General of the China Passenger Car Association (CPCA), said that AI-driven profits in the electronics industry swelled by 1.1x in 8M26, while upstream raw material industries also recorded strong profit growth, radically supporting the overall improvement in industrial profits. The automotive industry, however, faced dual pressure from rising costs and weak demand, resulting in relatively weak profit. In August, automobile production reached 2.7 million units. Sales revenue amounted to RMB928.1 billion, up 4.2%, while costs rose 5.3% to RMB831.3 billion. Profit hiked 24% to RMB37.1 billion, with a sales profit margin of 4%. In 8M26, automobile production totaled 20.31 million units, down 3% YoY. Revenue reached RMB7 trillion, up 2.9%, while costs increased 4% to RMB6.24 trillion. Profit dropped 16% to RMB253.4 billion, with a sales profit margin of 3.6%. Cui noted that authorities across China strongly pushed forward the implementation of the "two-new" policies this year, gradually and effectively unleashing domestic demand potential. However, profitability improvement in the automotive industry significantly lagged behind other consumer goods sectors. As the country's anti-involution campaign continues, the automotive industry has been heavily squeezed by upstream sectors, with severe pricing issues, spiking oil prices, and sharp profit growth in non-ferrous metals and semiconductors. ~ AASTOCKS Financial News Website: www.aastocks.com | |