AutoBeta(AutoBeta.net)04/30 Report--

According to the Federation of passengers, cumulative sales from January to March were 437000 vehicles, an increase of 302.9% over the same period last year. New energy vehicles have repeatedly set new highs, which means that consumers are becoming more and more receptive to new energy vehicles, but BAIC's new energy life is not easy.

On the evening of April 29th, BAIC Blue Valley released its annual financial report for 2020 and the first quarter of 2021, showing that BAIC Blue Valley's operating income in 2020 was 5.272 billion yuan, down 77.65 percent from the same period last year, and a net loss of 6.482 billion yuan, compared with a net profit of 92 million yuan in the same period last year. BAIC Blue Valley's operating income in the first quarter of 2021 was 830 million yuan, down 50.19% from the same period last year. The net loss was 854 million yuan, compared with 431 million yuan in the same period last year.

The substantial loss in performance is mainly due to the decline in sales. BAIC's cumulative new energy sales in 2020 were only 25914, down 82.79 per cent from 150601 in 2019, according to the report. Cumulative sales in the first quarter of 2021 were 3149, down 65.01 per cent from 9000 in 2020.

The following two major messages can be drawn from the results and sales: BAIC's net loss in 2020 was much higher than operating income, and BAIC's sales fell sharply in the first quarter of 2021.

According to the financial report, BAIC New Energy lost 430 million yuan in the first quarter of 2020, 1.43 billion yuan in the second quarter, 1.02 billion yuan in the third quarter and 3.598 billion yuan in the fourth quarter. As we all know, due to the impact of the epidemic in the first quarter of 2020, the domestic automobile market has indeed suffered a huge blow, but after the second half of the year, the major car companies have quickly recovered. In contrast, BAIC New Energy's loss in the second half of 2020 is much higher than that in the first half of the year, and the net loss in the first quarter of this year is also much higher than that in the same period last year.

Prior to this, industry insiders commented: "BAIC New Energy is the beneficiary of the era of high subsidies for new energy vehicles. With the passage of time, consumers have higher and higher requirements for new energy models, including new requirements for intelligence, fashionable appearance, space and so on. At present, the models launched by BAIC New Energy are relatively traditional, which results in a lack of product power. "

BAIC New Energy launched its first high-end model, ARCFOX α T, in October 2020, but it obviously failed to become a best-selling model. Only 709 ARCFOX α T vehicles were sold in the three months after its launch. Industry insiders believe that the halving of BAIC's new energy sales has a lot to do with the fact that the B-end market is not as good as expected. BAIC New Energy has not opened the situation in the C-end market for a long time, and the market sales will not improve significantly in the foreseeable future.

On the eve of the opening of the Shanghai auto show, the BAIC polar fox ARCFOX brand brought the Huawei HI version of ARCFOX α S, which is in close cooperation with Huawei, with an initial price of 38.89 yuan to 429900 yuan, and is expected to go on sale in October. It is understood that the model is equipped with Huawei self-driving technology, equipped with Huawei smart car solution, integrated Huawei intelligent high-order autopilot system, Hongmeng OS Smart + connected cockpit and so on. This model represents Huawei's highest level of self-driving at present.

Thanks to the participation of Huawei, BAIC polar fox ARCFOX, which does not have much sense of existence in the market, has attracted great attention in an instant, and the stock has also triggered the limit many times. As for whether consumers will pay the bill after listing, we can only expect the final results from the market.

In addition, on April 29, BAIC Langu also announced a new appointment, with Dai Kangwei, former vice president of BAIC New Energy Engineering Institute, as general manager of BAIC New Energy Company. This is another major personnel appointment of BAIC New Energy and BAIC Blue Valley after Liu Yu became party committee secretary and chairman of BAIC New Energy and BAIC Blue Valley, and the new leadership framework of "Liu Yu + Dai Kangwei" was established. As for how to save BAIC New Energy in the midst of water and fire and complete a breakthrough, it has become a major focus of the industry.

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