AutoBeta(AutoBeta.net)07/25 Report--

BAIC New Energy ushered in a new leader, and Liu Yu took up the post of manager. BAIC Langu issued an announcement on July 24, nominated by the nominating committee of the company's board of directors, and agreed to appoint Mr. Liu Yu as the manager of the company from the date of examination and approval of the board of directors.

In June this year, due to personal health and age and other reasons, Ma Fanglie submitted his resignation as a director and manager to the board of directors of BAIC Langu, and no longer served as deputy secretary of the BAIC New Energy Party Committee and general manager, and was approved. A month later, Liu Yu took over the position and continued to lead BAIC's new energy development.

According to information, Mr. Liu Yu was born in November 1976 and graduated from Beijing Institute of Technology, majoring in business administration. From November 2012 to October 2015, he served as deputy general manager and general manager of Beijing Automobile sales Co., Ltd.; from October 2015 to June 2016, he served as director of the Purchasing Center of Beijing Automobile Co., Ltd.; from June 2016 to June 2018, he served as vice president of Beijing Automobile Co., Ltd., including October 2016 to June 2018 as director of the Automotive Research Institute of Beijing Automobile Co., Ltd. From June 2018 to June 2020, he served as vice president and executive deputy general manager of Beijing Hyundai Automobile Co., Ltd.

BAIC new energy development is not smooth, sales continue to decline. Data show that BAIC New Energy sold 3008 vehicles in June, down 88.46% from a year earlier, and accumulated sales of 14700 vehicles from January to June this year, down 77.44% from a year earlier.

According to the 2019 annual report released by BAIC Blue Valley, the company achieved an operating income of 23.589 billion yuan in 2019, an increase of 30.39% over the same period last year, a net profit of 92.0101 million yuan, an increase of 25.54% over the same period last year, and a net profit of 870 million yuan excluding non-operating profit and loss.

Among them, in the non-operating profit and loss projects, including 1.04 billion yuan of government subsidies. It means that government subsidies are still an important source of profit for BAIC's new energy.

In its announcement, the company pointed out that in 2019, the new energy vehicle industry is facing three pressures: first, the continuous downward pressure of the automobile market; second, the sharp decline in subsidies for new energy vehicles has led to greater pressure of market fluctuations due to lack of market confidence; and third, the competitive pressure of foreign brands, new forces, and domestic traditional automobile enterprises to enter the new energy vehicle industry one after another.

At present, BAIC New Energy and Beijing Auto jointly launched the BEIJING automobile brand, and the two marketing teams behind it merged to form BAIC Marketing Business Committee, which has been materialized into Beijing Automobile Blue Valley Marketing Service Co., Ltd. At present, only by breaking away from the ride-hailing market and seeking sales in the private new energy market can the plight of BAIC's new energy be solved.

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