AutoBeta(AutoBeta.net)09/02 Report--

A few days ago, BAIC Blue Valley New Energy announced that the company received 500 million new energy financial subsidies. According to accounting, BAIC New Energy has received more than 670 million yuan in industrial support funds this year.

On August 31, BAIC Langu New Energy received the notice of the Finance Bureau of Beijing Economic and technological Development Zone on the allocation of industrial support funds to BAIC Langu New Energy Technology Co., Ltd., and the new energy vehicle industry support fund of RMB 500 million. The announcement said that the impact of the above government subsidies on the company's total profits in 2019 is expected to be 500 million yuan.

In July and September 2019, BAIC New Energy announced that the company had received a total of 30 million yuan from the Huanghua municipal government to support the new energy vehicle industry, which BAIC included in its total profits in 2019.

On June 27th, BAIC New Energy received another support fund of about 143.8 million yuan from Qingdao Laixi Finance Bureau, which was included in the total profit in 2019.

Therefore, according to incomplete statistics, BAIC New Energy has received more than 670 million yuan in support funds since 2019, all of which are included in 2019 profits.

Industry insiders said that BAIC new energy subsidies and subsidies will help ease the current operating pressure of the source, and since the second half of the year, national local subsidies for new energy have been greatly reduced.

In 2018, BAIC New Energy realized a net profit of 155 million yuan belonging to shareholders of listed companies, but a loss of 729 million yuan after deducting non-recurrent profit and loss, while non-recurrent profit and loss mainly came from government subsidies, which were included in the current profits and losses of 918 million yuan in 2018.

In the first half of 2019, the company made a net profit of 95.2442 million yuan, while the net profit excluding non-recurrent profit and loss was 123 million yuan, including government subsidies of 200 million yuan.

From the BAIC new energy production and marketing report, it is found that production and sales are very unbalanced. From January to July, BAIC's new energy output was 15174 vehicles, down 65.76% from the same period last year, while cumulative sales were 77668 vehicles, an increase of 28.1% over the same period last year.

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