AutoBeta(AutoBeta.net)04/09 Report--

Recently, Haima issued an announcement on auto production and sales in March 2020. Data show that the cumulative production and sales of Haima in the first quarter were 1469 and 2591 respectively, down 59.94% and 49.12% respectively from the same period last year. Among them, production and sales in March were 839 and 1310 respectively, down 43.00% and 33.39% respectively from the same period last year. It is worth mentioning that the above production and sales are from SUV models, MPV production and sales are 0, did not disclose the details of car production and sales.

Although Haima turned into a profit in 2019, car sales are still the biggest problem for its development. According to the financial report data released by Haima Automobile, the operating income of Haima Automobile in 2019 is 4.69 billion yuan, and the net profit belonging to shareholders of listed companies is 85 million yuan. The turnaround of Haima does not come from car sales, but through the transfer of shares to related parties and the disposal of idle property. However, the operation also attracted the attention of the Shenzhen Stock Exchange, which issued a letter of inquiry about its future profitability.

Even if the seahorse car uses various ways to make a turnaround in 2019, the development this year and in the future is still not optimistic. Some analysts said that at present, Haima has hovered on the edge of the market, it is no longer possible for car sales to rise sharply, coupled with the outbreak of this year's epidemic has increased the reshuffle of the auto industry. Smaller carmakers such as Haima, which are less resilient to the epidemic, are likely to be delisted if the government fails to give greater support to Haima or find a chance to preserve its shell. Haima Motors announced today that its subsidiaries have recently received a total of 9.6875 million yuan in various government subsidies in the form of cash subsidies, which are expected to increase the company's total profit in the first quarter of 2020 by 9.6875 million yuan (unaudited).

Haima made a comeback in 2019 by transferring assets and selling houses, but apart from transferring assets and selling houses, how can Haima survive the difficult 2020? It is unlikely that Haima wants to achieve profit growth in 2020 through the car business, and it is not a long-term way to maintain its development through government subsidies. In a sense, whether the automobile business has been regarded as the main business of Haima Motor, especially after Xiaopeng Motor acquired Fudi, has aggravated the plight of Haima Motor.

Of course, Haima will not give up the big cake of cars. In Jingzhu's words, "We just encounter losses, not bankruptcy." According to the plan of Haima Motor, in the next five years, Haima will continue to invest heavily in new product development and technology upgrading, and formulate to adhere to the market orientation and implement the new marketing strategy. In the second quarter of this year, Haima will launch three models, namely, the 2020 Haima 8s, Haima 7X and Haima 8P, covering the traditional fuel vehicles and hybrid models of SUV and MPV. It remains to be seen whether the new products will regain their market competitiveness, but it seems that Haima Motors is "willing but powerless" in the context of increased competition from other mainstream products.

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