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2024-09-08 Update From: AutoBeta autobeta NAV: AutoBeta > News >
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AutoBeta(AutoBeta.net)03/26 Report--
On the evening of March 25, BAIC Blue Valley released its annual results. According to the report, BAIC Langu realized operating income of 8.697 billion yuan in 2021, an increase of 64.95 percent over the same period last year. The net profit attributable to shareholders of listed companies was-5.244 billion yuan, compared with-6.482 billion yuan in the same period last year. Net profit belonging to shareholders of listed companies after deducting non-recurring profits and losses was-5.544 billion yuan, compared with-6.646 billion yuan in the same period last year.
According to each quarter, BAIC Langu had a net loss of 898 million yuan after deducting non-recurring profits and losses belonging to shareholders of listed companies in the first quarter, 1.2 billion yuan in the second quarter, 850 million yuan in the third quarter, and 2.595 billion yuan in the fourth quarter. From the above data, although BAIC Blue Valley revenue growth, but the net profit showed a decline. BAIC Langu said the huge loss was mainly due to the impact of the epidemic and the production and sales data failed to meet expectations. It is understood that BAIC Langu owns two product brands, ARCFOX and BEIJING, and the total sales during the reporting period were 26127, a slight increase of 0.82% from 25914 in 2020. According to the data of the Federation of passengers, China's sales of new energy vehicles in 2021 were 3.521 million, an increase of 160% over the same period last year. BAIC Langu obviously outperformed the market.
As the "top seller" of pure electric cars in China for seven consecutive years, BAIC New Energy "got up early in the morning and caught up with an evening collection". At present, China's new energy vehicle market, which sells 200,000 to 300,000 vehicles a month and has repeatedly set new highs, has failed to make BAIC New Energy enjoy dividends. Judging from the sales of 150601 vehicles in 2019, about 70% of them come from the B-end market, and the main sales channels include online car-hailing, business cars, taxis and so on. In fact, private cars account for a very low proportion, and as the B-end market becomes more and more saturated, BAIC's sales of new energy have also plummeted. In 2020, due to the impact of the epidemic, BAIC's new energy sales fell off a cliff, with annual sales of only 25914 vehicles, a year-on-year drop of 82.79%. Although sales in 2021 increased by 0.82% compared with the same period last year, but in the context of the continued doubling of the new energy vehicle market, BAIC's new energy performance is obviously very "ugly".
Of course, BAIC New Energy is also aware of the problem, launched the C-end high-end electric car brand ARCFOX extreme Fox in 2020, and successively listed Alpha T and Alpha S, of which Alpha S was listed in April 2021 and currently sells for 25.19-344900 yuan, providing 525km, 603km and 708km mileage, which belongs to the mainstream data level in the current market.
At the same time, BAIC Langu also hopes to increase the added value of its products through cooperation with Huawei. In early September 2021, 100 production line verification cars of the extreme Fox Alpha X Huawei HI version were officially launched and public road tests were conducted to ensure a small batch delivery of the polar fox Alpha X Huawei HI version in the fourth quarter. It is understood that the pre-price of Jihu Alpha X Huawei HI version is as high as 38.89-429900 yuan, which is the first high-end pure electricity car equipped with Huawei intelligent cockpit Hongmeng machine OS. Wang Jun, Huawei's smart car solution, BU COO Wang Jun, said that the polar fox Alpha S Huawei HI version will be delivered by the end of February, but until now, the polar fox Alpha X Huawei HI version has not yet been delivered, causing a large number of investors to question. BAIC Langu has not yet given an exact time for delivery.
According to BAIC Blue Valley data, a total of 4993 polar fox cars were delivered in 2021, of which delivery increased by 41% month-on-month in the fourth quarter, up 569% from a year earlier. In spite of this, there is still a huge gap compared with the results of the new head car-building forces that sell more than 10,000 yuan a month.
As the first model equipped with Huawei's self-driving solution, BAIC Blue Valley extreme Fox Alpha S HI seems to be overshadowed by the AITO M5. It is understood that Huawei is currently cooperating with three automakers, including BAIC Langu, Cyrus and Changan Automobile, and the high-end smart car AITO M5, which Selis and Huawei cooperate with, is undoubtedly the most important position.
The M5, the first model under the AITO brand, was officially launched at Huawei's flagship winter product launch on December 23, 2021 and went on sale on February 25, with a price range of 24.98-319800 yuan. The M5 can be said to be Huawei in the real sense, because Cyrus is responsible for the vehicle research and development and manufacturing of the M5, while the product styling, interior and exterior design and brand marketing are assisted by Huawei technology, including intelligent cockpit, motor, electric control and so on. To this end, Yu Chengdong, managing director of Huawei, consumer business CEO and smart car solution BU CEO, has repeatedly asked about the M5 platform on the social platform, and has high hopes for the car, challenging the annual sales target of 300000 units. By contrast, Huawei doesn't seem to care so much about the polar fox Alpha S Huawei HI version and Changan Avita 11.
At the communication meeting held by BAIC Group, Zhang Xiyong, general manager of BAIC Group, revealed to the outside world some of the next goals and development focus of BAIC's three independent sectors. BAIC New Energy, which is owned by BAIC Blue Valley, has a sales target of 100000 vehicles this year, including 40,000 polar foxes, and strive to hit 300000 vehicles in the future.
As a C-end-oriented product, the brand building of Jihu has been criticized by the market. At the same time, as a traditional car company, BAIC New Energy still has a gap in the operation of users compared with the sense of brand belonging established by the new forces of car building. BAIC Langu internal staff said, "this year will be more difficult. Polar Fox does not have a new car and can only rely on two existing models, while BEIJING brand sales are not good and profitability is low."
In October 2021, Fan Jingtao, deputy general manager of Beijing Hyundai, was transferred to executive deputy general manager of BAIC New Energy. It is generally believed in the industry that the veteran with first-line sales experience has been transferred from the joint venture to BAIC New Energy to solve the current pain point of the polar fox.
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