China Grand Automotive Services Co., Ltd. Provides Earnings Guidance for the Year 2017
January 28, 2018
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China Grand Automotive Services Co., Ltd. provided earnings guidance for the year 2017. According to preliminary statistics of its financial department, the Company predicts an increase of between RMB 981 million and RMB 1,261.3 million in the net profit belonging to shareholders of company in 2017, with an increase of between 35% and 45% compared with the same period of the year before. The net profit belonging to shareholders of the listed company after excluding extraordinary profit and loss will increase by between RMB 915.59 million and RMB 1,177.19 million, with an increase of between 35% and 45% compared with the same period of the year before.
China Grand Automotive Services Group Co., Ltd., formerly China Grand Automotive Services Co., Ltd., is a China-based company that engaged in the distribution of passenger cars, and in the provision of financial lease and integrated services to passenger cars. The Company mainly operated business through vehicle sales, passenger car financial lease, maintenance and commission agency services. Passenger Car Distribution and Service segment includes vehicle sales and after-sales services, such as maintenance, automobile maintenance and spare parts sales. Automobile Financial Lease segment is involved in leasing the designated car to the customers and sell the vehicle to customers at the symbolic price after the expiration of the term of the lease by leasing companies with the qualification of automobile financial lease. The Company has more than 500 stores in 25 provinces, autonomous regions and municipalities in China and distributes passenger cars under nearly 50 brands.