AutoBeta(AutoBeta.net)11/06 Report--

Wang Qiufeng, deputy general manager of BAIC New Energy Co., Ltd. and president of Polar Fox Motor Co., Ltd. resigned for personal reasons, according to reports. In response to the relevant reports, the relevant departments of BAIC Blue Valley confirmed to the media that Wang Qiufeng had indeed left her job for personal reasons.

According to the data, Wang Qiufeng graduated from Beijing University of Technology majoring in automobile and joined the Economic Observer in 2004. She has served as an assistant journalist, a journalist and a senior journalist. In September 2010, he joined China Business Daily as chief editor of Automotive Weekly. In 2011, he officially joined Sohu as the director of Sohu Automotive News Center and the director of the industrial center. He served as general manager of Tencent Automobile from 2013 to 2020 and established business platforms such as Tencent Automobile Video and Tencent Automobile Mall.

On October 21, 2020, Wang Qiufeng officially joined BAIC New Energy as vice president of ARCFOX, in charge of polar fox brand marketing and communication, and reported directly to Yu Liguo, president of ARCFOX. However, a year after Wang Qiufeng joined the job, Yu Liguo was revealed to have left her job due to a series of media disturbances and eventually switched to Xiaomi Automobile as vice president and political commissar of Xiaomi Automobile headquarters in Beijing, reporting to Xiaomi Chairman Lei Jun. Later, Wang Qiufeng was promoted to become president of the ARCFOX business department.

Since Wang Qiufeng became president, Jihu has successively named Cui Jian and Luo Dayou online concerts, which has gained a lot of popularity.

On April 15, the online concert jointly held by BAIC Jihu and Cui Jian attracted a total of 46 million viewers in nearly three hours. It received 120 million likes and 2.7 million shares in the case of the full appearance of the polar fox LOGO. The whole circle of friends and even the whole network were excited about the concert, and countless people dreamed of being young. A month later, on May 27, BAIC Jihu once again held an online concert with Luo Dayou, bringing more than 40 million people back to their childhood.

From Cui Jian to Luo Dayou, the two concerts exclusively named by BAIC Jihu gained a huge emotional linkage, which undoubtedly pulled it out of the silence of the past two years. BAIC polar fox can gain how many solid performance transformation?

On October 30, BAIC Blue Valley released its latest quarterly results, showing that operating income in the first three quarters was 5.707 billion yuan, down 6.41% from the same period last year, of which operating income in the third quarter was 2.227 billion yuan, down 39.15% from the same period last year. The net loss of shareholders belonging to listed companies was 3.5 billion yuan, down 32.35% from the same period last year, of which the net loss in the third quarter was 1.318 billion yuan, up 58.71% from the same period last year. In other words, BAIC Blue Valley's net loss is getting bigger and bigger against the backdrop of declining operating income.

The reason why the extreme fox takes great pains to hold the concert is to let the polar fox be paid more attention to in exchange for sales.

BAIC Langu, formerly known as BAIC New Energy, which began to operate independently in 2009, is the first company in China to obtain the qualification for the production of new energy vehicles. In the early days of its establishment, BAIC New Energy mainly focused on B-end markets such as taxi, car-hailing and car rental industry. relying on cost-effective EU and EX series, BAIC New Energy won the title of domestic new energy sales for seven consecutive years from 2013 to 2019. However, as the B-end market becomes 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 increased by 0.82% in 2021 compared with the same period last year, under the background that the new energy vehicle market continues to double, BAIC's new energy performance is obviously very "ugly". Today, BAIC Blue Valley mainly has two major brands, "extreme Fox" and "BEIJING". Poor sales are the main factor for its huge losses, and whether BAIC Blue Valley returns to public vision can only rely on Polar Fox.

BAIC Langu is naturally aware of the importance of the polar fox brand, and BAIC Langu is extremely "generous" in building the polar fox brand. It has been revealed that the marketing cost of the polar fox reached 400 million yuan in 2021, when the sales volume of the polar fox was only 4993, meaning that the average marketing cost for every polar fox car sold was as high as 80, 000 yuan.

After entering 2022, the sales cost of BAIC Blue Valley rose again. According to the financial report, BAIC Blue Valley's sales expenses in the first half of 2022 were 891 million yuan, an increase of 67.54 percent over the same period last year. It is not difficult to speculate that most of the sales expenses are spent on Jihu, including the above two large concerts. Unfortunately, BAIC Blue Valley's large-scale marketing still failed to bring a good development situation. Figures show that polar fox sold only 9829 vehicles wholesale in the first three quarters, compared with a sales target of 40, 000 set at the beginning of the year, with a completion rate of less than 25 per cent.

The polar fox, which was born in 2016, did not officially launch its first model until 2020, while NIO, Xiaopeng and ideal, which entered the market later than the extreme fox, all delivered new cars around 2018. Under the industry atmosphere, the polar fox is also considered by the industry insiders to "get up early in the morning and catch up with the evening collection".

At present, polar fox has three models: Alpha S, Alpha S HI and Alpha T models. Under the condition that the core products do not have a first-mover advantage, Jihu puts more ideas on "cooperation". For example, the newly launched Alpha S Huawei HI version is one of the few products with "magnificent content" on the market, but in fact, Huawei can choose to cooperate with Jihu or with other car companies, such as Cyrus, Changan, Guangzhou Automobile, Great Wall, Chery and so on. Therefore, in the final analysis, Jihu still needs to develop the core technology and hold the technology firmly in its own hands.

At present, the new energy vehicle industry is still in the growth stage, and the second half of the competition has just begun. For BAIC Langu, through brand activities, more and more people know and appreciate polar foxes, which also lays a user foundation for the development of polar foxes in the second half of building cars. Yes, especially the high-end market in which the polar fox is located. In recent years, with the deepening of user awareness, more and more users tend to choose domestic high-end brands, which is very important to the mental occupation of users.

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