AutoBeta(AutoBeta.net)02/18 Report--

Recently, the latest progress has been reported on the joint car-building project between Jianghuai and Huawei. On February 16, the official website of China Construction Group issued a notice about the winning bid for the EPC project of Anhui Feixi New Energy Automobile Intelligent Industrial Park by the sixth Bureau consortium of China Construction Corporation.

According to the contents released, the winning bid for the project is about 1.544 billion yuan, which is located in Jianghuai Xingang Industrial Park, south district of Xingang, Feixi County, with a total construction area of about 510000 square meters. the main construction contents include punching and welding joint workshop, painting workshop, final assembly workshop, office space, restaurant and related public auxiliary facilities. The project is a key project in Hefei and will be used by Huawei and Jiangqi Group to jointly develop a new generation of high-end intelligent electric vehicles in Hefei to help Feixi County build a full-chain industrial cluster of hundreds of billions of new energy vehicles.

In addition, according to the website of Anhui Hefei Public Resources Trading Center, the EPC project of Feixi New Energy Automobile Intelligent Industrial Park, with a total investment of about 2.6 billion yuan a year, needs to be completed and accepted by each building unit on January 15, 2024. At present, the construction of this industrial park is already under construction. Although China Construction Group "released" the project, people involved in Jianghuai and Huawei said they had "no knowledge" about the co-production of cars.

It is worth noting that after the announcement of the Hefei tender project, it was reported that Feixi's 2.6 billion yuan was invested in the project's infrastructure and plant, and that Jianghuai would also invest more than 10 billion yuan in building a new production line. The product is positioned as the middle and high end, and the price range is 200000-350000 yuan. However, the Jianghuai side did not confirm the news.

Although Huawei and Jianghuai have not clearly confirmed the cooperation between the two sides. However, in 2019, the two sides formally signed a comprehensive cooperation framework agreement and a cooperation agreement on the MDC platform project. We will carry out in-depth cooperation in smart car solutions, enterprise informatization, smart parks, intelligent factories and other fields, with a new cooperation to promote the rapid development of smart vehicles. In June 2022, it was reported that Huawei plans to cooperate with Chery, Jianghuai, Polar Fox and other brands to carry out smart car selection business.

In January this year, Hefei Daily reported that Yu Aihua, member of the standing Committee of the Anhui Provincial CPC Committee and secretary of the Hefei Municipal CPC Committee, held in-depth talks with Yu Chengdong, executive director of Huawei, at the headquarters of Huawei's Sakata base to jointly promote Huawei's cooperation projects with Jianghuai Automobile and Feixi County. It is reported that Huawei Terminal and Jiangqi Group have a good foundation of cooperation, and the two sides will jointly develop a new generation of high-end intelligent electric vehicle platform technology in Fei based on Huawei's capabilities in the field of smart car components. Jianghuai Motors, on the other hand, also issued tender announcements for a number of 300000 new energy vehicle projects this year, and invited tenders for the large synchronous stamping line of the stamping workshop for the construction project of mid-to-high-end intelligent new energy passenger vehicles with an annual output of 300000 in Jianghuai Xingang.

Although Jianghuai Automobile owns Volkswagen on the left and Wei on the right, the market performance is not optimistic. Due to the dismal domestic commercial vehicle market, Jianghuai will still lose money in 2022. According to Jianghuai Automobile's annual performance pre-loss announcement for 2022, the net profit loss attributed to the owner of the parent company is expected to be 1.437 billion yuan in 2022, compared with about 200 million yuan in the same period last year. In 2022, 500400 vehicles of various types and chassis were sold, down 4.54% from the same period last year, and the gross profit of the main business decreased by about 295 million yuan compared with the same period last year. As for the pre-loss of performance in 2022, Jianghuai Automobile said it was mainly due to the epidemic and chip shortage.

In fact, JAC has been losing money since 2017. Relevant data show that the government subsidies included in the profits and losses of Jianghuai Automobile from 2019 to 2021 are 1.117 billion yuan, 1.303 billion yuan and 2.005 billion yuan respectively, while the net profits of the same period are 106 million yuan, 143 million yuan and 200 million yuan respectively. Sales: in January 2023, Jianghuai Automobile sold 35410 commercial vehicles, down 31.32% from the same period last year, and pure electric passenger vehicles sold 10323 units, down 33.55% from the same period last year. In this context, if Jianghuai Automobile holds hands with Huawei or its new profit growth point, it is undoubtedly good news for Jianghuai Automobile at this stage.

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