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CAR inc.

CAR inc.
HKEX

CAR Inc. is a provider of car rental services.

OVERVIEW

Categories
Auto Travel, Auto Finance, Navigation, Auto Traffic, Auto-related Service, Auto Rental, Auto Post Service, Car-owner Service, Travel Service
HQ location
Beijing
Founded date
Sep. 1, 2007
IPO date
Sep. 19, 2014
Legal name
China Auto Rental Holdings
Email
CAR Inc. (CAR) was established in September 2007 as China Auto Rental Holdings and headquartered in Beijing. As China's largest car rental service provider, CAR is dedicated to providing customers across China with superior car rental services including short-term rental, long-term rental and financial leasing, as well as assorted value-added services as roadside assistance, one-way rentals, etc. As of June 2014, they operated in 70 major cities, at 52 airports across China with over 717 service locations, serving more than 1 million individual customers and nearly 10,000 corporate clients.
00699:HKEX
Transaction date
Jun. 2, 2020
52-week high
HKD 7.50
52-week low
HKD 1.20
Volume
60,154,580
Open
HKD 2.22
Close
HKD 2.24
P/E
-7.93
Market cap
HKD 4.75 billion

ANALYSIS

China Auto Rental Amplified "irrational" fear

On March 17, China Auto Rental(HK: 00699) released its 2019 results announcement. The profit figures were not satisfactory, but the analysis from the perspective of operation was the "best" in history.

Mar. 19, 2020 · CAR inc.

China Auto Rental Entered the timeshare lease Behind the wonderful layout is full of controversy?

Less than four months after the launch of time-share leasing business by China Auto Rental, relying on the price advantage of its network and its own products, China Auto Rental has rapidly covered more than 55 cities across the country.

Jul. 11, 2018 · CAR inc.

China Auto Rental plunges into mire, 2019 net profit shrinks by nearly 90%

China Auto Rental(HK.0699) announced its 2019 annual results announcement. The announcement shows that the total operating income of China Auto Rental in 2019 was CNY 7.69 billion, an increase of 19.4% over the same period last year; the net profit was CNY 30 million, a year-on-year decrease of 89.3%. As early as one month before the financial report was announced, China Auto Rental issued a profit alert for the full year 2019 in which net profit is expected to fall by more than 80%.

Dec. 30, 1899 · CAR inc.

REPORTS

China Auto Rental Enters Yangtze River Electric Vehicles to Create a New Model of Production and Rental Integration

China Auto Rental led the investment of Wulong Motors. The financing totaled more than HK $ 1.65 billion, and China Auto Rental invested CNY 1.14 billion, becoming the largest shareholder of Wulong Electric Vehicle Group.

Jul. 12, 2018 · CAR inc.

神州租车(0699.HK):Short-term rents achieve stable growth, private cars are expected to stabilize in 2H17E

It is estimated that the core net profit of 2017E / 2018E / 2019E will be approximately CNY 660 million / 730 million / 780 million respectively, and the target price will be reduced to HK $ 7.6 (approximately 20x 2018E adjusted PE); given 11.2% upside

Aug. 16, 2017 · CAR inc.

ANNOUNCEMENTS

Date Announcement
Jun. 1, 2020 Total revenue was CNY 1,325 million, down by 28.3% compared with CNY 1,850 million for the same period last year:<br/>1) Car rental revenue was CNY 878 million, compared with CNY 1,266 million for the same<br/>period last year. Revenue from sales of used vehicles was CNY 378 million; 6,469 used vehicles were<br/>disposed.<br/>2) Total gross profit margin as a percentage of rental revenue decreased to 15.4% for the three months ended March 31, 2020 from 43.8% for the same period last year, mainly due to the<br/>decrease in rental revenue as a result of the outbreak of COVID-19.<br/>3) Net gain was CNY 51 million for the period, compared with a<br/>net gain of CNY 193.7 million for the three months ended 31 March 2019. The decrease was<br/>mainly due to the decrease in exchange gain related to USD-denominated liabilities.
Jun. 1, 2020 The strategic cooperation agreement is non-legally binding in nature and there is no assurance that the formal agreement will be entered into. The details and terms of the cooperation between UCAR and BAIC Group are still under negotiation and no definitive term has been agreed as of the date of this announcement: <br/>1) According to the termination agreement, Amber Gem and UCAR agreed not to proceed<br/>with the Second Tranche Share Acquisition under the Sale and Purchase Agreement and terminate<br/>the Sale and Purchase Agreement, and release UCAR from its exclusivity obligations to consider<br/>other potential transactions.<br/>2) Pursuant to the strategic<br/>cooperation agreement, BAIC Group will acquire not more than 450,790,855 shares from UCAR, representing approximately 21.26% of the total issued share capital of the company as at the date of this announcement.
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Overview
Categories
Auto Travel, Auto Finance, Navigation, Auto Traffic, Auto-related Service, Auto Rental, Auto Post Service, Car-owner Service, Travel Service
HQ location
Beijing
Founded date
Sep. 1, 2007
IPO date
Sep. 19, 2014
Legal name
China Auto Rental Holdings
Email
CAR Inc. (CAR) was established in September 2007 as China Auto Rental Holdings and headquartered in Beijing. As China's largest car rental service provider, CAR is dedicated to providing customers across China with superior car rental services including short-term rental, long-term rental and financial leasing, as well as assorted value-added services as roadside assistance, one-way rentals, etc. As of June 2014, they operated in 70 major cities, at 52 airports across China with over 717 service locations, serving more than 1 million individual customers and nearly 10,000 corporate clients.
00699:HKEX
Transaction date
Jun. 2, 2020
52-week high
HKD 7.50
52-week low
HKD 1.20
Volume
60,154,580
Open
HKD 2.22
Close
HKD 2.24
P/E
-7.93
Market cap
HKD 4.75 billion
Analysis

China Auto Rental Amplified "irrational" fear

On March 17, China Auto Rental(HK: 00699) released its 2019 results announcement. The profit figures were not satisfactory, but the analysis from the perspective of operation was the "best" in history.

Mar. 19, 2020 · CAR inc.

China Auto Rental Entered the timeshare lease Behind the wonderful layout is full of controversy?

Less than four months after the launch of time-share leasing business by China Auto Rental, relying on the price advantage of its network and its own products, China Auto Rental has rapidly covered more than 55 cities across the country.

Jul. 11, 2018 · CAR inc.

China Auto Rental plunges into mire, 2019 net profit shrinks by nearly 90%

China Auto Rental(HK.0699) announced its 2019 annual results announcement. The announcement shows that the total operating income of China Auto Rental in 2019 was CNY 7.69 billion, an increase of 19.4% over the same period last year; the net profit was CNY 30 million, a year-on-year decrease of 89.3%. As early as one month before the financial report was announced, China Auto Rental issued a profit alert for the full year 2019 in which net profit is expected to fall by more than 80%.

Dec. 30, 1899 · CAR inc.
Reports

China Auto Rental Enters Yangtze River Electric Vehicles to Create a New Model of Production and Rental Integration

China Auto Rental led the investment of Wulong Motors. The financing totaled more than HK $ 1.65 billion, and China Auto Rental invested CNY 1.14 billion, becoming the largest shareholder of Wulong Electric Vehicle Group.

Jul. 12, 2018 · CAR inc.

神州租车(0699.HK):Short-term rents achieve stable growth, private cars are expected to stabilize in 2H17E

It is estimated that the core net profit of 2017E / 2018E / 2019E will be approximately CNY 660 million / 730 million / 780 million respectively, and the target price will be reduced to HK $ 7.6 (approximately 20x 2018E adjusted PE); given 11.2% upside

Aug. 16, 2017 · CAR inc.
Announcements
Date Announcement
Jun. 1, 2020 Total revenue was CNY 1,325 million, down by 28.3% compared with CNY 1,850 million for the same period last year:<br/>1) Car rental revenue was CNY 878 million, compared with CNY 1,266 million for the same<br/>period last year. Revenue from sales of used vehicles was CNY 378 million; 6,469 used vehicles were<br/>disposed.<br/>2) Total gross profit margin as a percentage of rental revenue decreased to 15.4% for the three months ended March 31, 2020 from 43.8% for the same period last year, mainly due to the<br/>decrease in rental revenue as a result of the outbreak of COVID-19.<br/>3) Net gain was CNY 51 million for the period, compared with a<br/>net gain of CNY 193.7 million for the three months ended 31 March 2019. The decrease was<br/>mainly due to the decrease in exchange gain related to USD-denominated liabilities.
Jun. 1, 2020 The strategic cooperation agreement is non-legally binding in nature and there is no assurance that the formal agreement will be entered into. The details and terms of the cooperation between UCAR and BAIC Group are still under negotiation and no definitive term has been agreed as of the date of this announcement: <br/>1) According to the termination agreement, Amber Gem and UCAR agreed not to proceed<br/>with the Second Tranche Share Acquisition under the Sale and Purchase Agreement and terminate<br/>the Sale and Purchase Agreement, and release UCAR from its exclusivity obligations to consider<br/>other potential transactions.<br/>2) Pursuant to the strategic<br/>cooperation agreement, BAIC Group will acquire not more than 450,790,855 shares from UCAR, representing approximately 21.26% of the total issued share capital of the company as at the date of this announcement.