In 2021, the three private automobile enterprises of Great Wall Motor, BYD and Geely Automobile will have operating income of more than 100 billion yuan in automobile-related business, with 136.4 billion yuan, 112.5 billion yuan and 101.6 billion yuan respectively. However, the net profit ranking of the three car companies is not consistent with the operating income. Among them, Great Wall Motors achieved positive growth, while BYD and Geely Automobile showed negative growth.
The three listed private car companies have enhanced their brand premium capabilities by optimizing their product structures. The average price of Great Wall Motor's bicycles in 2021 exceeded 106,000 yuan, an increase of 15.02% year-on-year; The average bicycle price of BYD passenger cars has exceeded 150,000 yuan; Geely Automobile's overall average bicycle revenue was 87672 yuan.
Operating income and net profit are not synchronized, in part due to differences in expenditure. In 2021, the expenditure of Great Wall Motor, BYD and Geely Automobile will be mainly used for R&D investment, sales expenses and management expenses; However, there is a big gap in the focus of the three companies.
A few days ago, a number of auto companies as listed companies have released 2021 financial reports. It is striking that the operating income of three private automobile companies, BYD (600609.SH), Great Wall Motor (601633.SH, 02333.HK) and Geely Automobile (0175.HK), has exceeded 100 billion yuan, which has become the focus of attention in the industry.
From the total amount of operating income, in 2021, BYD ranked first with 216.1 billion yuan. However, in bydir's total revenue, in addition to the contribution of the automotive business segment, there is also revenue from mobile phone components, assembly, and photovoltaic businesses.
ACCORDING TOD's financial report shows that in 2021, the revenue of automobiles, automobile-related products and other products business will be about 112.489 billion yuan, an increase of 33.93% year-on-year; Revenue from mobile phone parts, assembly and other products business was about 86.454 billion yuan, an increase of 43.99% year-on-year; The revenue of the rechargeable battery and photovoltaic business was about 16.471 billion yuan, an increase of 36.27% year-on-year. The revenue ratio of the three major businesses was 52.04%, 40% and 7.62% respectively.
In terms of auto business alone, in 2021, Great Wall Motor's operating income was 136.4 billion yuan, ranking first; BYD and Geely Automobile were 112.5 billion yuan and 101.6 billion yuan respectively. From the perspective of growth rate, BYD's operating income increased by 33.93% compared with last year, ranking first; Great Wall Motor and Geely Automobile were 32.04% and 10.3% respectively.
By combing through the financial reports of three listed companies, the reporter of China Economic Network also found that BYD and Great Wall Motors received government "red envelopes" with different amounts. In 2021, bydir and Great Wall Motors' subsidies for new energy vehicles will be 5.867 billion yuan and 1.627 billion yuan, respectively.
In terms of net profit, the ranking of the three listed car companies is not consistent with the ranking of operating income. In 2021, only Great Wall Motors achieved positive growth, with an increase of 25.41%; In contrast, BYD and Geely Automobile showed negative growth, at -28.08% and -21.9%, respectively.
Great Wall Motor achieved a net profit attributable to shareholders of listed companies of about 6.726 billion yuan in 2021. Great Wall Motor's earnings report said that "the increase in sales in the reporting period and the upward brand led to an increase in bicycle revenue.".
According to the data, in 2021, Great Wall Motor sold about 1.281 million units, an increase of 14.79% year-on-year. In addition, with the adjustment of product structure, the average price of Great Wall Motors' bicycles in 2021 exceeded 106,000 yuan, an increase of 15.02% year-on-year.
BYD and Geely Automobile have also enhanced their brand premium capabilities by optimizing their product mix. According to Wilson data, the average bicycle price of BYD passenger cars has exceeded 150,000 yuan. According to the data provided by Geely Automobile, its overall average bicycle revenue is 87672 yuan.
In terms of R&D investment, in 2021, the expenses of BYD, Great Wall Motors and Geely Automobile were 10.627 billion yuan, 9.07 billion yuan and 5.52 billion yuan respectively, an increase of 24.2%, 76.05% and 16.1% respectively year-on-year, accounting for 4.92%, 6.65% and 5.41% of the operating income, respectively.
Among them, BYD's R & D investment has made it have ultra-safe blade batteries, DM-i super hybrid, DM-p technology platform, e-platform 3.0 and other core technologies, and launched a number of DM-i super hybrid models such as Qin PLUS DM-i, Song PLUS DM-i, Tang DM-i and so on.
The main reason for the increase in Great Wall Motor's R&D expenses is the increase in its investment in research and development of intelligent, electrified and new model projects.
The increase in investment in Geely Automobile mainly comes from the research and development investment in Extreme Krypton Automobile and Raytheon Hybrid System, in addition to the research and development investment in technology licensing.
In terms of sales expenses, in 2021, BYD, Geely Automobile and Great Wall Motors spent 6.08 billion yuan, 6.323 billion yuan and 5.192 billion yuan respectively; It increased by 20.3%, 147.6% and 26.53% respectively year-on-year. In terms of management expenses, in 2021, BYD, Geely Automobile and Great Wall Motors spent 5.71 billion yuan, 9.12 billion yuan and 4.043 billion yuan respectively; It increased by 32%, 124.6% and 58.39% respectively year-on-year. (China Economic Network reporter Wang Yueyue)