AutoBeta(AutoBeta.net)02/16 Report--

Today, BAIC Langu issued a notice on the change of industrial and commercial registration information of its subsidiaries. According to the contents of the announcement: Beijing Langu Jihu Automobile Technology Co., Ltd. has completed the registration procedures for industrial and commercial changes such as the company's legal representative and business scope. According to the latest industrial and commercial registration information of Beijing Langu Jihu Automotive Technology Co., Ltd., Fan Jingtao stepped down as legal representative and executive director, and Zhang Guofu took over; Wang Qiufeng stepped down as manager and Fan Jingtao took over; the business scope increased sales agents, sales of mother and child products, sales of electrical accessories, and so on.

This personnel change also means that the personnel change of Jihu, which has lasted for more than 3 months, has been temporarily settled. As early as November 2022, there were media reports that Wang Qiufeng, deputy general manager of BAIC New Energy and president of Polar Fox, had resigned for personal reasons. At that time, there was no official statement on the news, but the authorities confirmed that Wang Qiufeng had left her job.

According to public data, Wang Qiufeng graduated from Beijing University of Technology majoring in automobile. before joining Jihu, Wang Qiufeng served as a senior reporter for Economic Observer, editor-in-chief of first Financial and Economic Daily Automotive Weekly, and general manager of Tencent Automotive. She formally joined BAIC New Energy as vice president of ARCFOX in 2020, and was promoted to president of ARCFOX in 2022. For marketing Wang Qiufeng said that good at, during her tenure as president of the polar fox division, she planned two concerts to bring more than one billion traffic exposure to the polar fox car. The first was an online concert jointly held by BAIC Jihu and Cui Jian. The number of people online reached 46 million in the past three hours, winning 120 million likes and 2.7 million shares. The second BAIC polar fox once again held an online concert with Luo Dayou, the number of people online is still 40 million, and the number of likes once again exceeds 100 million. Wang Qiufeng has previously said that the biggest problem with Jihu Motor is still the lack of brand awareness.

However, the marketing with high traffic has not brought a boost to the sales of Jihu Motor. Statistics show that in the first three quarters of 2022, the Jihu brand sold only 8138 vehicles, less than 25 per cent of its target of 40, 000 vehicles set in early 2022. It is understood that ARCFOX Polar Fox is a high-end new energy brand under BAIC Blue Valley. It has launched a total of three models, including Alpha S, Alpha S HI and Alpha T.

In addition to poor sales, the parent company BAIC Langu's own revenue is not satisfactory. According to BAIC's results for the third quarter of 2022 released earlier, BAIC's revenue in the first three quarters of 2022 was 5.707 billion yuan, down 6.41 percent from a year earlier, and a net loss of about 3.5 billion yuan belonging to shareholders of listed companies. In the third quarter, the company's main revenue was 2.228 billion yuan, down 39.15% from the same period last year; the single-quarter net profit was-1.3184631 billion yuan, down 58.71% from the same period last year.

In January, BAIC Langu announced that it expected a net loss of 5.2 billion yuan to 5.8 billion yuan in 2022. The official said that the reason for the loss is: in 2022, the rising cost of parts such as power batteries caused by the rise in the price of upstream raw materials squeezed the company's profit margins, which had a great impact on the company's performance, and the company's product sales were still in a period of rapid improvement. Scale effect is not obvious. It is worth noting that BAIC Blue Valley has lost money for two years in a row. In 2020 and 2021, the company's net loss to its parent was 6.476 billion yuan and 5.244 billion yuan respectively. If the estimated loss in 2022 is added, the cumulative net loss over the past three years is more than 16 billion yuan. Sales: BAIC New Energy's sales in 2022 are also not satisfactory, with figures showing that BAIC Blue Valley sold 50200 vehicles in 2022, only 50 per cent of the target of 100000.

Or in order to reverse the depressed sales of the polar fox, BAIC Langu has to transfer people to its subsidiaries. It is understood that Zhang Guofu, who took office this time, served as deputy manager of BAIC Blue Valley as early as last year, and some industry insiders disclosed to the media: Zhang Guofu as the legal representative of polar fox may mean that he will co-ordinate the sales work of polar fox. Judging from Zhang Guofu's resume, he has worked in BAIC for many years, before and after working under BAIC systems such as BAIC Foton, BAIC Foton Environmental Power, Beijing Automobile, Beiqi Penglong, Beijing Hainachuan, Beijing Cross-country, Beijing Automobile Co., Ltd.

In addition to personnel changes this time, the business scope of industrial and commercial information of polar fox has also increased sales agents, sales of mother and child products, sales of electrical accessories, and so on, which may have something to do with KAOLA, a new category of parent-child travel market located by polar fox. On January 9, polar fox released the koala KAOLA, a new car positioned as a "smart parent-child car", which is the first scene-driven model of the polar fox brand. After the follow-up koala mass production delivery, it will also involve the sale of mother and child products such as child safety seats and diaper tables. BAIC New Energy wants to improve the situation and return to the top with the help of koalas, according to people familiar with the matter.

However, it remains to be seen whether koalas can shoulder this burden. Although the target audience of koalas is targeted, for parent-child car positioning, the detailed designs for parents and children can only be added, and consumers ultimately focus on price and product power. In addition, some people in the industry pointed out: on the surface, the concept of mother-and-baby cars was put forward by BAIC for the first time, but China's population is now decreasing and the birth rate of babies is also decreasing, so the market is shrinking. The main factors for buying a car are space, car size, power, mileage, and price, which are the core indicators. Few consumers put the special parent-child index first to buy a car, so the extreme fox car should be relatively risky.

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