The ruble has plunged more than 20% in two days, and has fallen more than 100% this year. The collapse of the ruble not only plagued the Russian capital market, but also caused some Chinese companies to lay in the gun.
Geely (00175.HK) issued a profit warning that the depreciation of the ruble brought losses in foreign exchange exchanges, and this year's net profit will fall by about 50% year-on-year. The news dragged down the company's stock price and once plunged 22%.
Geely mentioned that in the fourth quarter of this year, the company's new car exports one of the important markets of Russia's local currency, the ruble, and the exchange rate against the US dollar and the renminbi suddenly depreciated sharply, causing Geely to record unrealized foreign exchange exchange losses.
For the business in Russia, Geely said it has begun to take measures to reduce the financial risks in the country and began to increase the retail sales price of cars in Russia, hoping to reduce the impact of the ruble depreciation. In the long run, Geely will accelerate localized production in major export markets to reduce foreign exchange risk in these markets.
In addition to Geely, which car companies have business in Russia? (Information from Sohu, Geshi Auto Network, etc.)
Among all Chinese car companies, the highest sales volume was Lifan. In the first 10 months, the cumulative sales from 21,945 vehicles fell 18.4% year-on-year to 17,909 units, and the market share decreased from 1.0% to 0.9%.
Geely's sales volume ranked second. The accumulated sales in the first 10 months decreased by 34.2% year-on-year to 14,519 units, and the market share decreased from 1.0% to 0.7%.
Great Wall Motor's cumulative sales in the first 10 months fell by 22.0% year-on-year to 12,965 units, with a market share of 0.7%.
Chery's cumulative sales in the first 10 months of the year fell 16.3% year-on-year to 16,801 units, with a market share of 0.7%.
In the first 10 months of the morning, Brilliance sold 517 vehicles, and the car company entered Russia this year.
Changan sold a total of 902 vehicles in the first 10 months, and the car company entered Russia this year.
In the first 10 months of the year, BAIC’s cumulative sales fell by 28.4% year-on-year to 1,964 units.
The cumulative sales of hippocampus in the first 10 months increased by 150.4% year-on-year to 691 units.
Jianghuai sold a total of 349 vehicles in the first 10 months, and the car company entered Russia this year.
Na Zhijie sold 81 vehicles in the first 10 months, and the car company entered Russia this year.
In the first 10 months of Fukuda, the cumulative sales increased by 916.7% year-on-year to 61 units.
In the first 10 months of FAW, cumulative sales fell by 42.1% from 2,739 units to 2,164 units.
In the first 10 months of BYD, the cumulative sales fell by 95.1% from the previous year to 5 vehicles.
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