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China: Commercial vehicle stocks perform better, passenger vehicle stocks grows faster

Joanne From www.gasgoo.com| May 17 , 2007

China's commercial vehicle stocks perform better while passenger vehicle stocks grows faster, a comparison according to the 2006 F/Y reports and the Q1 reports released by all the listed auto companies.

The leading listed auto firms are largely commercial vehicle stocks. Jiangling Automobile group, China Heavy Vehicle, Golden Dragon are the top three of all the listed auto companies. The average dividend of the three is 0.7 RMB per share. Weichai Power Co., which is founded by Weifang Diesel Engine Factory together with domestic and foreign investors, whose stocks belong to the machinery sector, achieved a high EPS(earning per share) of 2.07 RMB.

The passenger vehicle stocks are mostly outperformed, but they are surging with fast growth. The EPS of FAW Car Co., FAW Xiali Automobile Co., SAIC (Shanghai Automotive Industry Corp.) are all around 0.2 RMB. As the old trend of "commercial vehicles outshine passenger vehicles" change gradually, the passenger car sector surge.

SAIC boasted a Q1 EPS of 0.18 RMB, close to the whole year's level of last year, even equal to the major commercial vehicle companies. SAIC has already grown as the flag-bearer of the whole industry. Another star of the passenger car sector is Hainan Mazda, whose current dividend per share reaches 0.18 RMB, also a large leap compared with the past year.

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