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Lifan Group to see year-on-year net profit growth of 72% to 121% in 2017

Aurora From Gasgoo| January 29 , 2018

Lifan net profit, China NEV startup, Lifan Group annual sales

Shanghai (Gasgoo)- Lifan Industry Group Co., Ltd (Lifan Group) revealed that the company expects to achieve a year-on-year operating revenue growth of over 10% in 2017. The net profit attributable to shareholders may increase RMB 60 million to RMB 100 million, jumping 72.64% to 121.06% compared with the group’s net profit of 82.6018 million in 2016. 

The group said that its substantial net profit increase in 2017 was mainly attributable to the non-recurring income. In December last year, Lifan Group transferred its 51% stakes in Lifan Financing Leasing (Shanghai) Co., Ltd (Lifan Leasing), a wholly-owned subsidiary of Lifan Group. This stake transfer brought around RMB 195 million of investment income to the group, including around RMB 165 million of the net profit.

Excluding all non-recurring items, the net profit attributable to shareholders is expected to increase RMB 32 million to RMB 72 million in 2017 based on its net profit (excluding non-recurring items) in 2016, up 12.25% to 27.55% year on year.

Lifan Group delivered a total of around 133 thousand vehicles throughout 2017, among which 7,738 units of new energy vehicles (NEV) were sold with a year-on-year growth of 39.4%. 

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