AutoBeta(AutoBeta.net)05/03 Report--

Prior to this, we counted the financial performance of domestic listed car companies in 2020. Due to the impact of the epidemic, the revenue level of most car companies can grow, but most of the net profits are at a loss. In addition to the direct impact of the epidemic, the company's R & D investment is also one of the important factors affecting profits. As a key index to measure the core competitiveness of automobile enterprises, R & D investment is not only the embodiment of the hard power of automobile enterprises, but also directly affects the enterprises to seize a favorable position in the future track.

According to the financial report, we have counted the R & D investment of domestic listed car companies in 2020. Judging from the list, as the largest automobile company in China, SAIC's R & D investment reached 14.967 billion yuan, which is much higher than that of other listed companies.

According to the data, SAIC achieved an operating income of 742.132 billion yuan and a net profit of 20.431 billion yuan in 2020, of which the total investment in R & D was 14.967 billion yuan, accounting for 2.07% of the total operating income. It is worth mentioning that the R & D investment of SAIC reached 14.967 billion yuan, mainly because of the big business. SAIC-Volkswagen and SAIC-GM are all well-known domestic car companies, but R & D investment accounts for only 2.07% of the total revenue. It doesn't look that high, even lower than other independent car companies.

Take BYD, which ranks second, as an example, with operating income of 156.598 billion yuan and net profit of 4.234 billion yuan in 2020, of which R & D investment is 8.556 billion yuan and R & D revenue ratio is 5.46%. As the leader in the field of new energy vehicles, BYD has developed core technologies such as blade batteries and DM-i gas-electric hybrid systems, which are the embodiment of BYD's core competitiveness this year.

Let's take a look at Great Wall Automobile, Geely Automobile and Changan Automobile. The R & D investment of these three automobile companies is quite different, including 5.15 billion yuan for Great Wall Automobile, 4.8 billion yuan for Geely Automobile and 4.142 billion yuan for Changan Automobile, with R & D-revenue ratios of 4.99%, 5.25% and 4.90%, respectively. The three car companies are all representative of China's own brands, such as Great Wall Motors, which developed models such as Haver Dog and WEY Tank 300 this year, as well as three major technology platforms, as well as its new high-end tank brand.

We also found another camp in the list, that is, the new power of building cars. In 2020, the R & D investment of Xilai Automobile, Xiaopeng Automobile and ideal Automobile is 2.487 billion yuan, 1.725 billion yuan and 1.099 billion yuan respectively. Compared with 2019, the R & D investment of the three car brands has been reduced compared with 2019. Lai Automobile is mainly due to the reduction of design, development and other costs; Xiaopeng Automobile is reduced in 2020 because of the increase in investment in Xiaopeng P7 in 2019; the ideal car is also due to the huge amount of money spent on the pre-development of ideal ONE, so there is no new car in 2020, so reduce R & D investment.

For other car companies, GAC GROUP invested 5.125 billion yuan in R & D in 2020, an increase of 1.7% from 5.041 billion yuan in 2019, and the R & D revenue ratio was 8.1%. This is mainly due to increased R & D spending by its GAC Honda, GAC Toyota, GAC MOTOR and GAC Ean. BAIC Langu's R & D investment in 2020 is basically the same as in 2019, accounting for 30% of R & D revenue, the highest of all car companies.

For the current independent brands, the most important thing is to improve the ability of independent innovation and form the core competitiveness. no matter whether they are traditional car manufacturers or new car brands, they should not be stingy with their investment in technology. only with their own core technology, can they maintain their competitive advantage in the market and not be "brushed out" by the unpredictable market.

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