A few days ago, Haima Automobile released its 2021 financial report, according to the content, Haima Automobile's revenue and net profit achieved double growth year-on-year compared with the same period in 2020.
The data shows that in 2021, Haima Automobile's operating income was 1.763 billion yuan, an increase of 28.18% year-on-year; the net profit attributable to shareholders of listed companies reached 112 million yuan, an increase of 108.36% year-on-year. In addition, this is also a leap in net profit of Haima Automobile after a net loss of 1.335 billion yuan in 2020.
However, the gold content of this financial report has been greatly reduced. When Oxcart inquired about the specific financial report data, it found that in 2021, Haima Automobile benefited 545 million yuan in non-recurring profit and loss items such as disposal of non-current assets, government subsidies and debt restructuring, which means that its non-net loss is still as high as 432 million yuan.
The above-mentioned "disposal of non-current assets" has been a working routine for Haima Automobile to "save itself", in 2019, Haima Automobile made a profit of more than 800 million yuan through the disposal of non-current assets, and the net profit rose to 85 million yuan in the same year.
In 2020, Haima Automobile sold again, through the sale of 145 properties, successfully achieved a star in June of that year, from "*ST Haima", which was previously on the verge of delisting risk, to "ST Haima".
In 2021, Haima Automobile sold its 7% stake in Hainan Bank to China Railway Investment through its subsidiary Haima Finance, with a transfer fee of 329.7 million yuan. In May of the same year, Haima Automobile successfully removed the hat, and the stock name was changed from "ST Haima" to "Haima Automobile".
Although the title has changed, the business difficulties of Haima Automobile have never been alleviated, and relying solely on this "unconventional means" is tantamount to drinking and quenching thirst. Sales data show that in 2021, Haima Automobile's annual sales volume was only 29,500 units, compared with 220,000 units at its peak, which has fallen to 10% level. As well as independent brand athletes, Geely Automobile and Great Wall Motors have entered the ranks of annual sales of millions of vehicles, and even the new car-making forces that have just started in recent years, the head camp led by "Wei Xiaoli" have almost obtained the "admission ticket" of 100,000 vehicles per year.
Ironically, as the foundry of Xiaopeng Automobile, Haima Automobile's disclosed production and sales data even includes the Xiaopeng G3 processed for it. With the termination of the cooperation between the two sides, from January to March 2022, haima automobile's production and sales data fell off a cliff again, with sales of only 5730 units in the first quarter decreasing by 18.19% year-on-year.
As the only vehicle enterprise in Hainan Province, Haima Automobile actually has certain geographical advantages if it turns to new energy vehicles. According to the "Several Measures to Encourage the Use of New Energy Vehicles in Hainan Province in 2022" triggered by the Department of Industry and Information Technology of Hainan Province, Hainan Province will carry out pilot power exchange models for new energy vehicles, carry out new energy vehicles to go to the countryside, and support sales enterprises to make profits.
In addition, in the "Action Plan on Promoting the Steady Growth of the Industrial Economy" jointly issued by the Hainan Provincial Development and Reform Commission and the Provincial Department of Industry and Information Technology, Hainan will continue to implement the preferential policies for the construction and operation of electric vehicle charging infrastructure and the tax reduction and exemption of new energy vehicles.
According to the annual report, Haima Automobile revealed that it will rely on the core technology accumulation of the "fourth entrepreneurship" and the construction opportunity of the Hainan Free Trade Port to create a green automobile ecology of the whole industry chain in Hainan. However, the situation is still not optimistic, according to the plan, Haima Automobile currently has two major new energy vehicle projects, 7E project mainly intelligent pure electric vehicle model, until the fourth quarter of 2022 is expected to be put on the market; as for the third generation of hydrogen vehicle plans, it is still in its infancy, and it will not have the conditions for industrialization until 2023. With the increasingly crowded new energy vehicle track, such a new speed obviously does not have the competitive strength.
To make matters worse, in the field of research and development, Haima Automobile's investment is also shrinking, with R&D investment of only 150 million yuan in 2021, a year-on-year decrease of 36.08%, and the number of R& D personnel has also decreased from 534 in 2020 to 309. According to the official statement, it is mainly affected by the reform of the product institute structure and the adjustment of cadres, in addition, due to the decline in sales volume and low performance of the company, the loss of some personnel is inevitable.
According to the new plan, Haima Automobile will transform into a green vehicle ecological direction, covering the green energy supply of upstream vehicles, midstream new energy vehicle products and downstream green travel services, and the talent team will make necessary adjustments and replacements.
In any case, relying solely on government subsidies or the disposal of non-current assets is not a long-term solution, and Haima Motors still has a long way to go to make a living.