Recently, Beiqi Blue Valley officially released its annual financial report. The report shows that in 2021, Beiqi Blue Valley achieved operating income of 8.697 billion yuan, an increase of 64.95% year-on-year. However, the net profit attributable to shareholders of the listed company was -5.244 billion yuan, compared with -6.482 billion yuan in the same period last year. Net profit attributable to shareholders of listed companies, net of non-recurring gains and losses, was -5.544 billion yuan, compared with -6.646 billion yuan in the same period last year.
In this regard, beiqi blue valley officials gave a reasonable explanation for the loss of 5 billion yuan, the reason for the huge loss is mainly affected by the epidemic, production and sales data failed to meet expectations.
It is understood that in 2021, all new power brands are selling, Beiqi Blue Valley, which has been the first enterprise in China's pure electric vehicle sales for 7 consecutive years, will sell less than 20,000 vehicles in 2021, and even BYD's fraction is not comparable, such a production and sales situation is really a bit regrettable. You know, the strength of the former Beiqi Blue Valley once overwhelmed BYD and Tesla.
In fact, as early as 2020, Beiqi Blue Valley has already lost about 6-6.5 billion yuan. In 2021, it lost more than 5 billion yuan. These data show that until today, Beiqi Blue Valley has not been able to change the state of continuous losses, from this point of view, Beiqi Blue Valley has long lost its former glory, so how did Beiqi Blue Valley come to such a situation today?
The earliest positioning of Beiqi Blue Valley has always stayed in the low-end market, and the main service objects are taxis, rental cars, online ride-hailing cars, and public vehicles of enterprises and institutions. However, in 2019, with the decline of new energy vehicles, new forces such as Xiaopeng and Ideal, which are mainly engaged in the high-end market, have risen. Beiqi Blue Valley also fell heavily from the temple of heaven of the "new energy brother". As a result, Beiqi Blue Valley will turn its attention to the high-end market and the Polar Fox, which is firmly tied to Huawei's automatic driving technology.
With the polar fox project cooperated with Huawei, the morale of Beiqi Blue Valley has soared. At that time, Liu Yu, chairman of BAIC Blue Valley, also put down his bold words to achieve sales of 12,000 vehicles in 2021 and let BAIC BJEV return to the first place within three years.
However, it backfired. In December 2021, the "Extreme Fox Alpha S New HI Edition Large-scale Delivery Tasting" event held in Shenzhen was changed to the internal delivery activity of Beiqi Blue Valley in December due to the epidemic situation, which aroused the suspicion of many people. The explanation given by Beiqi Blue Valley at that time was that Huawei's car and machine system (Hongmeng intelligent cockpit system) was not available, and we are now waiting. Until Huawei's grand announcement of the M5, perhaps the Polar Fox project cooperated by Beiqi Blue Valley and Huawei cannot successfully complete the gorgeous turn to the high-end market as Expected by Beiqi Blue Valley.
BAIC BJEV's sales have fallen off a cliff, the newly launched Polar Fox plan has been blocked, and what does BEIQI Blue Valley rely on to support consecutive years of losses?
Baiqi Group's two listed companies, BAIC Blue Valley and BAIC Motor, Beijing Benz's revenue and profit have increased significantly, while the new energy business of BAIC Motor's own brand and BAIC Blue Valley is in a downward trend in terms of sales and revenue.
According to the analysis of Guotai Junan Securities, in recent years, with the decline in the performance of Beijing Hyundai, a joint venture company under BAIC Group, Beijing Benz has increasingly become the only "profit cow" of BAIC Group.
According to the financial report of Beijing Automobile, in 2021, BAIC Motor achieved revenue of 175.916 billion yuan, of which Beijing Benz was 167.966 billion yuan. That is to say, 95% of BAIC Motor's operating income comes from Beijing Benz. It is obvious from the proportion of revenue that Mercedes-Benz has become the last straw for BAIC Group.
However, with the adjustment of national policies, the restriction on the joint venture share ratio was deliberately imposed in order to protect the mainland automobile industry countries, and now the restriction has been abolished, and the cancellation of the joint venture share ratio restriction is not a good thing for the current BAIC Group. As early as 2020, it was reported that "Daimler Group wants to restart negotiations with BAIC on increasing the equity of Beijing Benz, and plans to increase its shareholding in Beijing Benz from 49% to 65%". Although BAIC has not made some explanations and explanations for the news until now, if the news is true, it will undoubtedly be a fatal blow to BAIC.
Written in the end: Judging from the current situation, it is becoming more and more difficult for BAIC to accelerate the pace of transformation. For BAIC, BAIC Blue Valley New Energy can be described as "getting up early to catch up with a late set", seeing that the trend of new energy has gone, the annual sales of only 20,000 "new energy brothers" want to sit back on the throne of the first sales, how difficult, and the cooperation with Huawei's Jihu has not been listed for a long time. Beijing Benz's position in the entire group is becoming more and more important, if there is a little change in Mercedes-Benz, how will BAIC respond?