Under the leadership of Chairman Zeng Qinghong, GAC Group has delivered a brilliant result under the continuous impact of the "black swan" of the epidemic: in 2021, it achieved a total revenue of 75.676 billion yuan, an increase of 19.82% year-on-year; net profit of 7.335 billion yuan, an increase of 22.95% year-on-year, 2.4 times that of BYD; and was shortlisted for the ninth consecutive year in the Fortune Global 500, ranking 176, up 13 places year-on-year, a new record.
It is worth noting that while revenue rose sharply, the cash balance of GAC Group at the end of 2021 declined, reaching 22.34 billion yuan, a year-on-year decrease of 17.69%. From the annual report, the decrease in cash flow is mainly due to a significant decrease in cash received from deposits with central banks and interbank funds and the absorption of investments.
In 2021, GAC Group's total sales reached 2.144 million units, an increase of 4.92% year-on-year; among them, new energy vehicles continued to exert efforts, with sales reaching 441,700 units, an increase of 53.04% year-on-year, accounting for 20.6% of the group's total sales. At the same time, the continuous enrichment of the Japanese product matrix has also helped the total sales a lot, and in 2021, GAC Toyota launched 6 new models such as camry and Xena, and the average price of bicycles reached 156,400 yuan, an increase of nearly 11,600 yuan year-on-year.
Feng Xingya, general manager of GAC Group, said that in 2022, GAC Group will challenge the growth target of 15% (more than 2.46 million vehicles) and plan to launch more than 15 new models, including the replacement Trumpchi M8 known as "domestic GL8" and the more fuel-efficient hybrid version of Shadow Leopard.