TU-TESL

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On December 18, Automobile Co., Ltd. (hereinafter referred to as "Jiangling Automobile") announced that it had recently received 169 million yuan of supporting funds from Nanchang City, Nanchang Xiaolan economic development zone and Shanxi transformation comprehensive reform demonstration zone. According to the financial report of Lingjie, the revenue of Jiangling Automobile in the first three quarters was 20.408 billion yuan, a slight increase of 1.08% on a year-on-year basis; the net profit attributable to shareholders of listed companies was 158 million yuan, a decrease of 27.93% on a year-on-year basis. In terms of sales volume, the cumulative sales volume of Jiangling Automobile from January to November was 249700, up 3.00% year on year. In the segment market, Ford brand keeps a positive growth, Yusheng brand SUV and JMC brand pickup are in a declining state, while the sales volume of Jiangling Automobile commercial vehicle sector is declining. Since 2019, the production and sales of many automobile enterprises have declined, and the financial situation has been tense. Jiangling Automobile's financial situation and sales performance can be called "warm sun" in the cold winter of automobile market. Although the performance of Jiangling Automobile is unsatisfactory, it's hard to say that it's good. The net profit has a large drop. The sales volume is only supported by Ford brand SUV, which shows that the strategy of "business and ride simultaneously" has not been effective. "Yusheng S350" local government allocates support funds at this time, which is just the right time for Jiangling Automobile, or it will be a strong guarantee for the enterprise's operating income in 2019. It is pointed out in the announcement that according to the relevant provisions of accounting standards for Business Enterprises No. 16 - government subsidies, the above-mentioned government support funds are related to income and will be included in the current profit and loss of the company in 2019, and the specific accounting treatment shall be subject to the results confirmed by the annual audit of accountants.