Shanghai (ZXZC)- FAW Car Co. Ltd. (FAW Car) turned loss into profits with whole sales and profits seeing large growth in 2017, according to FAW Car's annual financial report. 

During 2017, FAW Car gained operating revenue of RMB 27.902 billion with a YoY growth of 22.86%. Its operating profit reached RMB 466 million, soaring 142.66% compared with a year earlier. The total net profit surged 146.49% over the previous year to RMB 461 million. What's more, FAW Car's net profit attributable to the shareholders of the listed companies reached RMB 281 million, surging 129.47% year on year.

Specifically, revenue of vehicle products jumped 28.53% year on year to RMB 24.446 billion, taking up 83.75% of FAW Car's total revenue. Revenue of other products reached RMB 3.456 billion.

In addition, FAW Car's overall net profit margin in 2017 reached 23.08%, up 4.1% from a year earlier. The net profit margin of sales totaled 22.48%. FAW Car invested RMB 398 million in R&D in 2017, taking up 1.42% of its operating revenue, decreasing 29.26% compared with 2016. 

In 2017, FAW Car delivered 239,500 units, jumping 23.77% on an annual basis. Among them, deliveries of FAW Car Sales Company rose 13.7% year on year to 115,400 units. FAW Mazda sold 24,100 units, jumping 34% over the previous year. 

Among all of FAW Car's subsidiaries, FAW Mazda is the major driver of FAW Car's growth in profit and operating revenue with annual operating revenue and net profit reaching RMB 17.897 billion and RMB 199 million respectively. It is noteworthy that net profit growth of Mazda skyrocketed 421.1% from a year earlier. FAW Car Sales Company gained revenue of RMB 7.259 billion. Thanks to larger sales, the company decreased its loss of net profit to RMB 509 million, increasing 20.88% compared with 2016.