In 2016 net profit loss of nearly 10 billion, FAW car finally in the first half of this year turnaround. Recently, FAW car announced in the first half of 2017 performance notice, is expected to achieve profit of 2.7-3.3 billion yuan. FAW Car is actively promoting the implementation of various business measures, by accelerating the introduction of new products, the success of the new Pentium X40, optimize Sensor the product layout, enhance marketing capabilities, to achieve the quality and efficiency of the upgrade, operating results turnaround. Whether it is the market sales to climb, or operating profitability, are dependent on the FAW car over the past six months, vigorous and resolute reform initiatives.
FAW car sales difficult to see up, net profit has not stabilized, in the face of 'illness' of the status quo, Qin Huanming in less than ten months time decisively to promote the three major reforms. First, stripping the red flag brand, so that FAW car input and output serious imbalance in the situation has been improved. September 2016, FAW has issued a notice that the company intends to the controlling shareholder of China First Automobile Co., Ltd. to sell the relevant red flag assets. In November, FAW shares red flag branch listed. December 1, general manager Han Xinliang, executive vice president Guo Shijun, vice president of marketing in charge of Du Xiaodong, in charge of the production of deputy general manager Zhang Wei and other components of the core management of the red flag in place. Since then, the red flag brand opened the road of independent operation development. Second, the termination of the slow progress of high-end MPV models D021 project, timely stop loss. In April this year, FAW car announcement announced Temperature Sensor that 'the termination of the construction of China FAW D021 project.' The project is terminated in a timely manner to facilitate effective stop-loss, optimize the company's project assets while also avoiding future investment failure. Third, abandon the new energy plant project, stop FAW Xiali new product planning, focus on breakthroughs. The end of April this year, FAW car announcement that plans to adjust the future implementation of new energy products and the termination of the construction of new energy plant technological transformation projects.
Combined with the actual situation to consider, FAW car on the existing factory production technology to transform to effectively enhance the production capacity, to meet the future product layout and sales needs. Obviously, in the seemingly beautiful new energy market and the need to break through the traditional market, Qin Huanming chose to concentrate on the development of traditional power models, and snow Xiali brand is FAW Car 'set fire' breakthrough start. At present, Qin Huanming Although 'due to work reasons' to resign, and no longer any FAW car any post, but in the next few years, Qin Huan-ming for the FAW car strategy, institutional mechanisms, group relations Speed Sensor and other aspects of the planning reform will continue, focusing on the car The main business market, pay attention to the capital market market value management or FAW car will bring a new development.