CBN丨Chinese EV manufacturers unveil deliveries in March, with BYD doubles sales

Hi everyone. I’m Stephanie LI.

大家好，我是主持人李瑩亮。

Coming up on today’s program.

重點提要

- Chinese EV makers unveil impressive March deliveries;

- Shenzhen’s market entities hit 4 million.

Here’s what you need to know about China in the past 24 hours

中國經濟要聞

Chinese electric vehicle manufacturers have recently reported their delivery volumes for March, most on track to hit their delivery expectations for the first quarter of this year.

Shenzhen-headquartered auto maker BYD sold 207,080 vehicles in March, a figure that represented year-on-year growth of 97.4 percent. Of the total sales 206,000 units were pure electric vehicles, while 991 units were commercial vehicles. And the cumulative new energy vehicles sales in the first three months of this year rose 92.8 percent to 552,000 units. BYD also sold a total of 13,312 new energy passenger vehicles overseas in March.

GAC AION, a subsidiary of the state-owned automaker GAC Group, delivered 40,016 new vehicles. This marks an increase of 97 percent year-on-year and 33 percent month-on-month. It is also the first time that monthly deliveries have exceeded 40,000 units.

Li Auto delivered about 20,800 new vehicles last month, up 25.3 percent month-on-month, marking another month of surpassing the 20,000 vehicle delivery milestone. This represents an impressive year-on-year growth rate of 88.7 percent. The company's cumulative delivery volume as of the end of March was nearly 310,000 units.

Nio announced that it delivered 10,400 units last month, which increased by 3.9 percent on a yearly basis but down 14.6 percent compared to the previous month. Meanwhile, Zeekr – an auto brand under Geely – delivered 6,663 new cars in March, up 271 percent yearly and 22 percent monthly. Xpeng delivered 7,002 new cars last month, with a month-on-month growth rate of 17 percent, while Leapmotor sold 6,172 cars, down 39 percent compared to the same period last year.

New energy vehicles in China will command 90 percent of the auto market by 2030, said Wang Qing, deputy director at the Development Research Center of the State Council yesterday at the annual China EV 100 Forum in Beijing. Wang expects sales of NEVs to total around 17 million units by 2025 and 32 million units by 2030.

At the same forum, Xin Guobin, vice-minister of industry and information technology, said the auto industry is "global in nature" and the NEV sector requires more cross-regional and cross-industry cooperation, vowing to stick to the principle of open and win-win cooperation to build a market-oriented, law-based and international business environment.

International carmakers are speeding up their efforts in the Chinese market, as BYD outsold Volkswagen-branded cars to be the best-selling passenger car brand in China in February.

A senior executive of Volkswagen China said at the forum the company is planning to invest 15 billion euros in China on electric mobility together with its three joint ventures by 2024. Volkswagen plans to increase the number of charging posts in China for electric vehicles to 17,000 by 2025.

Also, German premium carmaker BMW said it will present the biggest-ever lineup of NEVs at the Shanghai auto show in April. This year, it will offer 11 electric models in China, its largest market worldwide.

進入4月，多家新能源車企都釋出了3月新車銷售情況。

新勢力車企3月的傳遞資料比上個月有所增長，其中埃安、理想、極氪、深藍等增長幅度較大，其餘幾家增幅較小。其中，廣汽埃安銷量突破4萬輛，理想汽車的單月傳遞再次突破了2萬輛。

業内人士指出，3月汽車行業掀起激烈“價格戰”，燃油車大幅降價對新能源車造成了一定市場擠壓。但從目前公布資料來看，廣汽埃安、理想汽車等頭部新能源品牌銷量保持了高增速，各品牌差距逐漸拉大。

比亞迪繼續領跑。4月2日比亞迪公告，3月新能源汽車銷量20.7080萬輛；前3月新能源汽車銷量55.2076萬輛，同比增長92.81%。3月海外銷售新能源乘用車合計13312輛。3月新能源汽車動力電池及儲能電池裝機總量約為9.891GWh，2023年累計裝機總量約為26.991GWh。

特斯拉當地時間4月2日公布，第一季度傳遞電動汽車42.29萬輛，環比增長4%，同比增長36%，創下曆史新高，略高于市場預期。

4月1日，埃安品牌釋出3月銷量資料，達到40016輛，同比增長97%，環比增長33%。1-3月累計銷量80308輛，同比增長79%。第一季度的銷量超過了8萬輛成績。

同日，理想汽車釋出了3月新車傳遞成績，共傳遞新車20823輛，同比增長88.7%，再次實作月傳遞突破2萬輛，也是今年來首次突破2萬輛。理想汽車CEO李想曾經預估理想汽車第一季度傳遞量要達到5.2-5.5萬輛之間。目前來看，1-3月份，理想汽車累計傳遞量為52584輛，同比增長65.8%。

3月，蔚來汽車共傳遞新車10378輛，同比增長3.9%，其中SUV傳遞3203輛，轎車傳遞7175輛。1-3月累計傳遞新車31041輛，同比增長20.5%，截至目前，蔚來累計傳遞新車320597萬輛。

小鵬汽車傳遞7002輛新車，環比增長17%。小鵬汽車表示，随着明星車型P7i上市和快速開啟傳遞，3月P7車型總傳遞3030輛，環比增長32%。吉利集團旗下極氪品牌3月共傳遞6663輛新車，同比增長271%，環比增長22%，累計傳遞93182輛。其中，極氪009的平均訂單金額為52.7萬元，3月傳遞超過2000量，領跑豪華純電MPV市場。

3月31日-4月2日，中國電動汽車百人會論壇（2023）在北京召開，國務院發展研究中心市場經濟研究所副所長王青在論壇上預計，2025年大陸新能源汽車銷量會達到1700萬輛左右，到2030年市場占有率會突破90%。

王青指出，從目前發展階段來看，新能源汽車的新增效應比替代效應要大，但是随着電池技術的突破和下一步配套體系的完善，替代效應會逐漸突顯出來，并且不斷增強。“新能源汽車對燃油車的替代效應在2025年将達到60%，到了2030年突破94%。預計到2027年将一直處于快速替代階段。”王青判斷。

全國乘用車市場資訊聯席會秘書長崔東樹在論壇上表示，2023年的經濟發展要靠車市推動，城市汽車消費未來将以增換購為主，高端化将成為發展的重要推動力。崔東樹預測，2023年新能源乘用車銷量将達到850萬輛，實作30%左右的增長，呈現增速逐漸放緩、出口增長較強的态勢，他還預計中國汽車産銷未來必然會突破4000萬輛。

工業和資訊化部黨組成員、副部長辛國斌則表示，發展新能源是大陸從汽車大國邁向汽車強國的必由之路，要深化新能源汽車産業交流合作，讓創新科技發展成果更好地造福世界各國人民。

“汽車産業具有典型的國際化特征，新能源汽車更需要跨區域、跨行業的協作，我們将一如既往堅持開放、合作、共赢原則，打造市場化、法治化、國際化營商環境，加強與各國在新能源汽車技術創新、貿易投資、标準法規等領域的交流合作，為推進中國汽車産業現代化貢獻積極力量，為世界經濟複蘇注入新的動力。”辛國斌指出。

Greater Bay Area, Greater future

新使命，大未來

• The number of business entities in Shenzhen has exceeded 4 million as of the end of March, up by 4.61 percent year-on-year in a leap for local economic rebound after the optimization of the country's pandemic response measures, the Shenzhen Administration for Market Regulation announced on Sunday. In the first quarter, the number of newly added individual businesses rose by 45.1 percent year-on-year, data showed. The proportion of individual businesses as part of the total stood at 37.73 percent now, with the number surpassing 1.51 million.

  深圳市場主體突破400萬：近日，深圳市市場監管局消息，截止2023年3月底，深圳市市場主體突破400萬戶，同比增長4.61%，實作曆史性跨越。其中，企業249.37萬戶，占商事主體總量的62.26%，同比增長2.74%；個體戶151.14萬戶，占全市商事主體總量的37.74%，同比增長7.86%。

Next on industry and company news

産業及公司新聞

• China launched a national big data platform for the entire rice industry chain on Sunday, the first of its kind in the country, aiming to promote the digitization and information construction of the sector. The platform focuses on the generation, collection, storage, processing, analysis and service of rice industry data to open up the whole industry chain of production, storage, marketing, trade, consumption, and science and technology.

  國家水稻全産業鍊大資料平台上線：據4月2日舉行的2023中國種子大會暨南繁矽谷論壇水稻産業鍊發展分論壇消息，國家水稻全産業鍊大資料平台全面上線。據介紹，國家水稻全産業鍊大資料平台由農業農村部基本建設項目支援、中國水稻研究所牽頭建設，也是國内首個聚焦水稻産業資料生成、采集、存儲、加工、分析、服務，打通水稻生産、儲備、市場、貿易、消費、科技全産業鍊，建構一個資料中心的水稻全産業鍊大資料應用服務平台。

• A number of Bilibili's content creators are reportedly ceasing updates amid declining incomes from the Chinese online video community, which has been the top trending topic on Weibo since yesterday. Several uploaders complained Bilibili changed the mechanism of how the creators earn money on the platform, which would decrease their earnings between 30 and 50 percent or in extreme cases by up to 80 percent, while they would still need to spend more to create high-quality videos or pay their teams. Meanwhile, Bilibili reported its net loss widened 10.4 percent last year over the previous year to 7.5 billion yuan, partly due to higher costs for revenue-sharing and content. Bilibili's revenue-sharing and content costs rose by 17.9 percent to 9.1 billion yuan last year, while the number of monthly active content creators jumped 45 percent to 3.7 million.

  B站“UP主停更潮”沖上熱搜：4月2日，一則關于B站UP主發起停更潮的消息沖上微網誌熱搜，并引發網友熱議。據媒體報道，近日，兩位百萬粉絲UP主接連宣布停更，也有使用者發現很多UP主宣布停止更新，大部分UP主表示平台收益減少、收支難以平衡是停更的主要原因。據悉，去年以來，B站多次變更UP主創作激勵規則，大量UP主在社交平台回報稱收入減少，甚至有UP主稱收入最高減少了90%。值得一提的是，B站近期釋出的财報顯示，2022年B站淨虧損為75億元，較2021年68億元擴大約10%。而B站2022年給up主的激勵/分成，達到91億元，同樣增長18%。

Earnings reports express

财報速遞

• Huawei Technologies’ net profit slumped 69 percent last year, mainly because of declining revenue from smart devices and surging research and development expenses. But annual revenue at the Chinese telecoms giant rose. Net profit was 35.6 billion yuan, versus 113.7 billion yuan a year before, the firm said in its latest earnings report. Revenue edged up 0.9 percent to 642.3 billion yuan. Revenue from smart devices fell 11 percent to 214.5 billion yuan, accounting for only 38.2 percent of Huawei’s total last year, compared with a ratio of over 50 percent in 2021. The company invested 161.5 million yuan in R&D last year, accounting for one-fourth of its annual revenue.

  華為2022年總營收6423億元：3月31日下午，華為釋出2022年年度報告。報告顯示，華為整體經營平穩，實作全球銷售收入6423億人民币，同比增長0.9%，淨利潤356億人民币，淨利潤率5.5%。面向未來，華為持續加大研發投入，2022年研發投入達到1615億人民币，占全年收入的25.1%，十年累計投入的研發費用超過9773億人民币。首席财務官孟晚舟表示：“2022年，經營依然面臨較大壓力，總體而言，經營業績符合預期。2022年末，華為的資産負債率為58.9%，淨現金餘額1763億元，近萬億的總資産規模中，現金、短期投資、營運資産等高流動性資産構成了資産的主體部分，财務狀況持續穩健，具有較強的韌性與彈性。2022年，研發費用總額為1615億人民币，研發費用率25.1%，處于曆史高位。面向未來，我們有壓力，更有信心。”

• All the six biggest Chinese state-owned banks saw their net profits grow last year, along with their non-performing loans. Industrial and Commercial Bank of China grew its net profit by 3.5 percent to 360.5 billion yuan last year. Its business revenue dropped 2.6 percent year on year during the period. By the end of 2022, its non-performing loan ratio stood at 1.38 percent, down 0.04 percentage points from the end of 2021. Bank of China's 2022 profit went up by 5 percent to 227.4 billion yuan. NPL rose 22.9 billion yuan to 231.7 billion yuan, but the NPL ratio slid by 1 basis point to 1.32 percent. Agricultural Bank of China posted a 7.4 percent rise in profit to 259.1 billion yuan. NPL surged by 10.3 percent to 271.1 billion yuan and the NPL ratio dropped by 6 basis points to 1.37 percent. Bank of Communications’ net income was up by 5.2 percent to 92.1 billion yuan. NPL rose 1.8 percent to 98.5 billion yuan, but the NPL ratio edged down 13 basis points to 1.35 percent. China Construction Bank’s earnings increased 7 percent to 323.86 billion yuan, while its NPL ration stood at 1.38 percent. Postal Savings Bank of China's profit last year advanced by 11.89 percent to 85.36 billion yuan and the NPL ratio rose 2 basis points to 0.84 percent.

  六大行去年淨利1.35萬億：2022年六大行年報披露完畢，合計實作營業收入3.69萬億元，同比增長0.29%；實作歸母淨利潤1.35萬億元，同比增長5.97%。與2021年相比，六大行整體營收及淨利增速均出現下滑。其中，工商銀行、建設銀行2022年營業收入增速為負，分别為-2.6%、-0.22%，2021年分别為6.81%、9.05%；郵儲銀行營業收入增速最高，為5.08%，但也較2021年的11.38%下降超過6個百分點。資産品質方面則大體穩定。截至2022年末，六大行不良貸款餘額共計12759.96億元，較2021年末增加1124.41億元。除郵儲銀行外，其他五家大行不良率均出現下行，但郵儲銀行不良率在六大行中仍最低，為0.84%；工行、建行相對較高，均為1.38%。基金理财的大幅波動也深刻影響了六大行的中間業務收入。2022年，六家大行手續費及傭金淨收入增速齊降，工商銀行、建設銀行、交通銀行、中國銀行甚至出現了下降。

Switching gears to financial news

金融市場消息

• Citic Pacific Special Steel Group, the world’s largest special steel manufacturing group, has become the ultimate controller of Nanjing Iron & Steel United, although the latter’s No. 1 shareholder Fosun International had previously agreed to sell its entire stake to Jiangsu Shagang Group, China’s biggest private steelmaker. Citic Pacific Special Steel injected 13.6 billion yuan into Nanjing Iron & Steel United’s shareholder Nanjing Iron & Steel Group through its unit Hubei Xinyegang Steel, which now holds 55.3 percent of Nanjing Iron & Steel Group, the steelmaker said late Sunday.

  中信泰富“截胡”沙鋼收購南鋼：4月2日晚間，複星國際釋出了計劃出售南京南鋼鋼鐵聯合有限公司60%股權的進展公告，稱南鋼集團決定行使優先購買權，複星已與南鋼集團簽訂協定，向其出售南京南鋼60%的股權，同時将終止與沙鋼集團關于南京南鋼股權的交易。根據南鋼股份當晚釋出的公告，中信泰富特鋼集團通過旗下的新冶鋼增資南鋼集團，成為後者的控股股東，增資價格正好是南鋼集團要從複星購買南京南鋼股權的價格。

Wrapping up with a quick look at the stock market

股市收盤情況

• Chinese stocks closed higher on Monday with total turnover hitting 1.25 trillion yuan, the biggest so far in 2023. The benchmark Shanghai Composite rose 0.7 percent and the Shenzhen Component jumped 1.4 percent, while Hong Kong shares closed marginally higher to reverse a dip in the morning session.

  A股走高港股微漲：周一A股大盤全天高開高走，創業闆指放量大漲。截至收盤，滬指漲0.72%，深成指漲1.39%，創業闆指漲1.7%。兩市股票呈現漲多跌少的态勢，超3200隻股票上漲。滬深兩市全天成交額12530億元，較上一交易日擴大2997億元，創年内新高。北向資金全天淨買入5.79億元，連續5日淨買入。港股午後翻紅，恒指漲0.04%，恒生科技指數午後拉升微跌0.03%。

Biz Word of the Day

财經詞彙劃重點

• The nonperforming loan ratio, better known as the NPL ratio, is the ratio of the amount of nonperforming loans in a bank's loan portfolio to the total amount of outstanding loans the bank holds. The NPL ratio measures the effectiveness of a bank in receiving repayments on its loans. When a borrower has not made regular payments for at least 90 days, the loan is considered a nonperforming loan, or NPL.

  不良貸款率指金融機構不良貸款占總貸款餘額的比重。不良貸款是指出現違約的貸款。一般而言，借款人若拖延還本付息達三個月之久，貸款即會被視為不良貸款。不良貸款分為逾期貸款、呆滞貸款和呆賬貸款。把不良貸款減少到最低限度，是商業銀行風險管理的首要目标。

Executive Editor: Sonia YU

Editor: LI Yanxia

Host: Stephanie LI

Writer: Stephanie LI

Sound Editor: Stephanie LI

Graphic Designer: ZHENG Wenjing, LIAO Yuanni

Produced by 21st Century Business Herald Dept. of Overseas News.

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策劃、編輯：李豔霞

播音：李瑩亮

撰稿：李瑩亮

音頻制作：李瑩亮

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