Chervon Auto disclosed its half-year report on the evening of August 27. In the first half of this year, domestic demand in China's auto market was clearly under pressure. The company's operating revenue fell slightly by 4 percent year on year, while the profit side saw a widening loss due to factors such as relatively high fixed costs. Financial data show that the company achieved operating revenue of 1.169 billion yuan in the first half, down 4.03 percent year on year. Net loss attributable to the parent company was 185 million yuan, wider than the 167 million yuan loss in the same period last year. Net loss after deducting non-recurring items was 192 million yuan, compared with a loss of 173 million yuan a year earlier. In addition, net cash flow from operating activities was negative 49.2 million yuan, turning from a net inflow of 19.62 million yuan in the same period last year to a net outflow, mainly because inventory occupied more funds. During the reporting period, the company's new energy component products achieved operating revenue of 748 million yuan, contributing more than 60 percent of the company's overall revenue share. Mass production of designated projects for key customers such as SVOLT, Schaeffler, Tesla, and Geely progressed well, with sales up sharply year on year. The Ma'anshan production base in Anhui achieved revenue of 526 million yuan, and the Hungary production base achieved revenue of 1.3985 million euros. According to data from the China Association of Automobile Manufacturers, from January to June this year, domestic automobile sales were 9.921 million units, down 21.1 percent year on year, and domestic sales of new energy vehicles were 5.09 million units, down 13.4 percent year on year. In the secondary market, Chervon Auto's latest closing price was 6.19 yuan per share, down about 26 percent for the year.
Nanjing Chervon Auto Precision Technology Co LtdFirst-half loss widened to 185 million yuan and operating cash flow turned negative.
