TU-TESL

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Recently, GAC group issued the third quarter financial report of 2019. According to the financial report information, the operating revenue of GAC group from January to September 2019 was 42.684 billion yuan, down 19.19% year on year; the net profit of GAC group attributable to shareholders of listed companies from January to September 2019 was 6.335 billion yuan, down 35.75% year on year. As of the end of September, GAC group's total assets were 125.665 billion yuan, a year-on-year decrease of 4.89%; the net assets attributable to shareholders of listed companies were 79.513 billion yuan, a year-on-year increase of 3.87%. In the first three quarters of this year, the net cash flow from operating activities of GAC group was - 9.11 billion yuan, a year-on-year decrease of 74.59%. In terms of sales volume, the cumulative sales volume of GAC group in the first three quarters was 1508018, down 3.21% year on year. The "recession" of the independent sector was one of the reasons for the decline of the group's overall sales volume. According to the production and sales express recently released by GAC group, the sales volume of passenger vehicles of GAC in September was 33724, down 22.34% year on year; the cumulative sales volume of the enterprise in the first three quarters of 2019 was 277198, down 29.75% year on year. In order to revive the independent sector, GAC passenger cars are launching a new round of product offensive. On October 17, aion LX was launched; on October 22, the new generation was offline, and is expected to be officially launched in November. In addition, GAC has made a series of personnel adjustments in the past period. From August 1, Zhang yuesai, who has rich experience in vehicle sales, replaced Yu Jun as general manager of GAC passenger, while Yu Jun was changed to head of International Business Department of GAC group, seeking a new breakthrough for GAC group in the international field through its market development ability and rich experience in international cooperation. Among the joint ventures of trumpchi GS4, the Japanese joint ventures performed well. In the first three quarters, the cumulative sales volume of GAC Honda reached 573396, up 10.14% year-on-year; the cumulative sales volume of GAC Toyota reached 496224, up 17.63% year-on-year; the cumulative sales volume of 96414, down 10.41% year-on-year. Compared with Japanese joint ventures, GAC Fiat Chrysler's market performance is sluggish. In September, its sales volume was only 6015, down 38.6% year on year; in the first three quarters of 2019, its cumulative sales volume was 52372, down 46.11% year on year.