AutoBeta(AutoBeta.net)08/28 Report--

Beijing Auto announced that the company achieved 87.764 billion yuan in revenue in the first half of the year, an increase of 14.1 percent over the same period last year. In the same period, the profit attributable to the company's owners was 2.09 billion yuan, down 25.9 percent from the same period last year. Basic earnings per share fell by 30.6 percent to 0.25 yuan.

With regard to the interim results, Beijing Automobile said in its announcement that the decline in profits was mainly due to increased competition in the domestic passenger car industry and the overall downturn in the Korean car market for Beijing Hyundai and related supporting enterprises, while the growth in revenue was mainly due to the increase in sales of Beijing Mercedes-Benz and Beijing brands.

In terms of sales volume, Beijing brand sales in the first half of this year were 82000, up 12.2 percent from the same period last year, of which 54000 new energy products were sold, up 263.6 percent from the same period last year; Beijing Mercedes-Benz sold 282000 vehicles, up 11.9 percent from the same period last year; Beijing Hyundai wholesale volume is 276000, retail volume is 351000.

As we all know, Beijing Auto's passenger car business has four parts: Beijing Brand, Beijing Mercedes-Benz, Beijing Hyundai and Fujian Mercedes-Benz. In the first half of the year, Beijing Mercedes-Benz contributed nearly 90% of its profits, although Beijing brand revenue increased. But this still reflects the situation that Beijing Automobile is still weak in the independent sector.

Specifically, the revenue related to Beijing Mercedes-Benz increased to 77.807 billion yuan from 70.219 billion yuan in the same period last year, an increase of 10.8% over the same period last year, mainly due to an 11.9% year-on-year increase in sales of Beijing Mercedes-Benz during the reporting period. however, the increase in the proportion of models with relatively low prices offset some of the increase in sales.

Among Mercedes-Benz sales, the average monthly sales of E-Class cars, C-Class cars and GLC SUV models exceeded 10,000 yuan. In the first half of the year, Beijing Mercedes-Benz earned 77.807 billion yuan, an increase of 10.8 percent over the same period last year.

Beijing brand-related revenue increased to 9.957 billion yuan from 6.683 billion yuan in the same period last year, an increase of 49% over the same period last year. The main reason is that the increase in revenue is greater than the increase in sales due to a 12.2% year-on-year increase in brand sales and relatively high-priced models. The decline in new energy subsidy policy offset some of the income growth.

BAIC's BAIC Langu released its semi-annual report yesterday, with operating income of 9.919 billion yuan, an increase of 76.63% over the same period last year. Net profit belonging to shareholders of listed companies was 95.2442 million yuan, up 9.70% from the same period last year. While the overall development trend of the automotive industry is declining, the production and sales of new energy vehicles still maintain a growth trend.

For the second half of the year, Beijing Automobile disclosed in its announcement that the Beijing brand's main new model, EU7, plans to launch in the second half of the year, and Beijing Mercedes-Benz plans to launch a number of products such as long-wheelbase GLC SUV medium-term revamped models, new GLB SUV, EQC pure electric SUV and A35-LAMG models. Beijing Hyundai plans to launch a variety of products, such as the Anchino pure electric model, the new ix25 SUV, the new acceptable sedan, the 10th generation Sonata sedan and the Festa pure electric model.

Although the brand launch of the independent plate of Beijing Automobile is relatively late, even if there are many models and the products are good, its sales have not been very good. What's more, many people teased Beijing cars with a good hand and played poorly. But so what? Beijing Automobile still has the strength, because it has the performance support of Mercedes-Benz.

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