- Advertisement -

Beiqi Foton’s 2011 profits down 30%

Reading Time: < 1 minutes

More News Like This Even Faster?

Priority News Access

Car Database

Calendar of Upcoming Events

Chinese EV Sales Data

Beiqi Foton Motor Co, one of China’s largest commercial vehicle manufacturers and part of BAIC, said Friday that its profits slumped nearly 30 percent year-on-year in 2011 due to falling sales.

The company’s profits decreased to 1.15 billion yuan ($182.54 million), while revenues slid 3.45 percent to 51.65 billion yuan, according to a statement filed to the Shanghai Stock Exchange.

Earnings per share stood at 0.546 yuan. Shareholders will be paid 1.2 yuan in dividends for every 10 shares they hold, the statement said. Foton sold 640,400 vehicles in 2011, down 6.2 percent year-on-year, meeting just 88.9 percent of its annual sales target.

A domestic economic slowdown and the cancellation of government incentives caused China’s auto sales to fall 2.45 percent year-on-year to 18.5 million units in 2011, the slowest growth rate in 13 years. Foton said it is not upbeat about this year’s sales, despite a better macroeconomic environment, according to the statement.

The company’s shares fell 0.27 percent to 7.4 yuan per share during Friday’s morning trading.

Via: ChinaDaily.

Exclusive Content & Car Database

Try Our New Product. Priority Access, Chinese EV Sales & Car Database, or List Of Upcoming Events. Great For Journalists, Investors, Consultants or anyone who likes Chinese EVs.

News instantly?

Get notified about every news in your phone.

- Advertisement -


  1. To whom it may concern.there is need for tipper trucks in Uganda to do business e.g a foton tipper 2o tones can make 800 dollar a week and 10 tones can make 600 dollar a week and 4tones forward can make 430 dollar a week. Here am requesting any person or company which can provide them we do business to contact me on my email we discuss more because i have been managing one.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisement -