Edit | Yu Bin
Produced by | Chaoqi Network "Yu see column"
The penetration rate of new energy vehicles has increased rapidly, the era of intelligent networking is coming, and the layout of Xiaokang shares for many years has finally reached the time to pick the fruits of victory. Recently, Xiaokang co., Ltd. announced the 2021 annual report and 2022 Q1 financial report, its total revenue in 2021 was 16.718 billion yuan, an increase of 16.89% year-on-year, the net profit was -1.82 billion yuan, and the revenue achieved in Q1 of 2022 was 5.131 billion yuan, an increase of 56.03% year-on-year, and the net profit was -839 million yuan.
As a growth enterprise, losses in the growth period of the industry are inevitable. Although Xiaokang shares are still in the first quarter of 2022 and continue to lose money, its annual report and quarterly report have shown great growth. It is understood that the total sales volume of new energy vehicles of Xiaokang Shares in 2020 was 41,400 units, an increase of 104.39% year-on-year, and its new energy vehicles in the first quarter of 2022 were both prosperous in production and sales, and the total sales of new energy vehicles during the reporting period were 14,200 units, an increase of 207.43% year-on-year. In the first quarter of 2022, while Xiaokang shares continued to grow highly, sales volume went up to a new level.
With the advent of the era of intelligent networked vehicles, Xiaokang shares, which have long been deeply bundled with Huawei's intelligent car system, will reach a new height, and its strategic behavior of betting on Huawei will also make the company transform gorgeously.
Sales have increased dramatically and have great potential
In 2021, xiaokang's new energy vehicle sales and revenue showed a geometric growth trend, its annual sales of new energy vehicles in 2021 were 41,440 units, a year-on-year increase of 104.39%, and the total sales revenue of new energy vehicles was 4.498 billion yuan, an increase of 128.8% year-on-year. It is understood that in 2021, the sales volume of new energy vehicles of Xiaokang shares accounted for 15.5% of the company's vehicle sales, while the proportion of new energy vehicle sales revenue in the company's main business income rose to 26.9%, which also shows that new energy vehicles have gradually become the company's core business.
According to the production and sales data released by Xiaokang Shares, in the first quarter of 2022, the trend of production and sales of new energy vehicles not only continued, but also was better than before. During the reporting period, the cumulative sales volume of new energy vehicles of Xiaokang shares was 14,200 units, an increase of 207.43% year-on-year, and its growth rate has been far greater than that of 2021, which is driven by the high growth of the industry, but more importantly, it represents the consumer's recognition of Xiaokang shares new energy vehicles.
In 2021, Xiaokang shares have achieved such rapid growth in the case of only one star product, Cyrus SF5, and once Cyrus Q&I M5 is listed sharply, then Xiaokang shares will have the strength to impact the new forces of car manufacturing. It is understood that in March 2022, the sales of the Xelis M5 was 3045 vehicles, which entered the top ten sales of high-end new energy SUVs in the month of 200,000-300,000, and it should be known that this car was only delivered nationwide on March 5, 2022.
Moreover, the Cyrus M5 car may become a hit of xiaokang shares, it is understood that Huawei has also poured its heart and soul into the Cyrus M5, whether it is the product design, industrial chain management, quality management or software ecology, user management, brand marketing and other full processes of the M5, Huawei is almost all hands-on, some people even joke that Cyrus is more like a "foundry" role in the production process of the M5, and Huawei is the main designer, This also indirectly supports the expectations of Xiaokang and Huawei for this car.
The Q&I M5 also lived up to expectations, the sales volume in March was as high as 3045 vehicles, which also proved the potential of the car, more critically, in terms of channels, Huawei gave significant support, as of March 2022, the M5 stores have entered 36 cities and more than 150 user centers, and it is expected to achieve a total of 1,000 experience centers and about 300 user centers.
When the new product industry began to emerge, the main brand of Xiaokang shares, Xilis, still performed remarkablely in March, its output in March reached 3465 units, an increase of 1667.86% year-on-year, and the sales volume was as high as 3160 units, a year-on-year surge of 1310.71%, and the sales volume in a single month was close to about 40% of the total sales of Xilix in 2021.
The new and old models alternately exert their strength, only with two star products to obtain such beautiful results, Xiaokang shares have great potential in the future, and more importantly, with the more and more skillful cooperation with Huawei, the future of Xiaokang shares will be promising.
Strong R & D and manufacturing capabilities, wide sales channels
Under the guidance of carbon neutrality and carbon peaking goals, the penetration rate of domestic new energy vehicles has been continuously improved. According to the data of the China Automobile Association, in 2021, the production and sales of domestic new energy vehicles were booming, with production and sales of 3.545 million units and 3.521 million units respectively, an increase of 159.7% and 157.5% year-on-year, and the penetration rate was as high as 13.4%, 8 percentage points higher than in 2020, adding highlights to the weak automotive industry.
With the gradual increase in the penetration rate of new energy vehicles in China, as of the end of March 2022, the number of new energy vehicles in mainland China was 8.915 million, and the new energy automobile industry has entered a new stage of spontaneous growth. At the same time, the high base of new energy vehicles also means that China's new energy vehicles will begin to enter the intelligent stage, and this is also an opportunity for Xiaokang shares to achieve beyond upgrading.
According to the data of securities companies, the penetration rate of domestic electric vehicles in China is expected to accelerate to 40% in 2022-2025, when the penetration rate of smart cars at the L3 level is expected to repeat the penetration curve of electrification in the past few years and enter a period of rapid introduction.
The penetration rate of intelligent driving at the L3 level is expected to accelerate to 40% in 2025-2028, and intelligent driving will enter a mature period in 2028-2032. That is to say, starting from 2022, it will enter a period of rapid release of the industrial chain dividend of intelligent and electrified hardware.
The era of intelligence has arrived, which is the progress of the times, and it is also the era of the realization of well-off shares. It is understood that in the past 6 years, Xiaokang has invested nearly 10 billion yuan in research and development of new technologies, and R & D investment accounts for more than 10% of the current operating income all year round, which is also comparable to huawei's existence in technology companies.
Not only does the proportion of R&D capital investment is high, Xiaokang co., Ltd. has also built a world-leading R&D base, which has more than 3,000 R&D personnel, reserves nearly 3,000 core technology patents, and has R&D bases in both China and the United States. Among the domestic new energy car-making enterprises, Xiaokang co., Ltd. is one of the few enterprises with independent and controllable core technologies of three electric power.
Not only has the technical strength, Xiaokang also has the industry-leading intelligent manufacturing capabilities. So far, Xiaokang co., Ltd. already has an annual output of 200,000 vehicles manufacturing capacity, the company has built the Liangjiang Smart Factory, Phoenix Smart Factory, Shiyan Airport Factory, Shuangfu Base, Longevity Base as the representative of the industry-leading manufacturing base.
Among them, the "Xilis Liangjiang Smart Factory" has more than 1,000 intelligent robots, which has reached the goal of 100% automation and intelligence of key processes, and at the same time, the "Xilis Phoenix Smart Factory" to produce high-end intelligent networked vehicles has also been basically completed and can be put into production in 2022.
Xiaokang co., Ltd. has strong strength in R&D and manufacturing, and has also carried out a series of layouts in channel services. In terms of cross-border integration, the in-depth cooperation between Xiaokang and Huawei has created a precedent, and its new retail model of selling new energy vehicles with the help of mobile phones and consumer electronics stores in Huawei's core business district is the first in china.
At present, Xiaokang has settled in more than 400 experience centers and more than 100 user centers across the country to provide one-stop services for consumers. At the same time, Xiaokang co., Ltd. is also actively promoting the layout of sales channels, and strives to achieve the goal of 100 cities and 100 stores as soon as possible to ensure the realization of the annual sales target.
Deeply bundle Huawei smart cars
Xiaokang shares in the capital market is known as Huawei's vehicle manufacturing plant, which is not empty. As a smart car manufacturing company deeply tied to Huawei, Xiaokang shares can be said to be the best car company to run into Huawei so far.
According to public information, in 2021, Xiaokang took the lead in cooperating with Huawei to develop the Cyrus SF5, which attracted the attention of the market as soon as it was launched. Although the sales of the Xilis SF5 in 2021 were suppressed at about 8100 vehicles, which was far from the original goal, through this cooperation, the cooperation between Xiaokang and Huawei has become more and more skillful and gradually entered a better situation.
In 2021, Xiaokang accelerated the pace of new car research and development, launched a high-end smart car brand - AITO, and officially delivered the first intelligent luxury electric drive SUV in March 2022. Compared with the SF5, Huawei has adjusted the cooperation model with Xilis, and the whole process of M5, whether it is from product design, industrial chain management, quality management or software ecology, user management, brand marketing, etc., is dominated by Huawei, which once questioned the outside world that Huawei should start to change its promise and start to build cars. However, this also shows that through the cooperation between Xiaokang and Huawei, the cooperation between the two has become intimate.
Through the run-in of the two products, the cooperation between Xiaokang and Huawei is gradually clear, and the complementary advantages between the two are played, Xiaokang is mainly responsible for R&D, manufacturing, delivery and service issues, and Huawei, as the leader of smart cars, deeply exerts its software and hardware technology advantages to participate in product definition, quality control and channel sales. In less than three months from the listing to the delivery of the M5, the M5 has achieved the ability of the new brand to deliver more than 3,000 vehicles in the first month, which shows that the cooperation between the two sides has a high degree of adaptability.
Huawei intelligent car whether in the car operating system, or intelligent cockpit, or software is the first existence in China, it can be said that in the current domestic market, whether it is a traditional Internet technology company, or a new car-making force, in the software and hardware strength of intelligent cars, can not surpass Huawei. This has also led to many large manufacturers eager to use Huawei's smart car strength on the one hand, and on the other hand, they are afraid of losing their souls.
Therefore, as a well-off share that is deeply integrated with Huawei, it will achieve curve overtaking in the future era of intelligent vehicles.
epilogue
At present, the domestic new energy automobile industry has gradually entered the era of "intelligent" intelligent vehicles from the first half of "electrification", which is very beneficial to the well-off shares that have been deeply bundled with Huawei's intelligent vehicle system as early as the era of electrification.
At present, Huawei intelligent car has become the first domestic existence, whether in the software and hardware or intelligent car operating system has a first-mover advantage, with R & D and manufacturing capabilities of xiaokang shares, through the two cooperation with Huawei, so that the run-in between each other has surpassed other domestic car manufacturers.
In the future, once the penetration rate of intelligence is rapidly popularized, Xiaokang shares will reach a new height, and its strategic behavior of betting on Huawei will also make the company transform gorgeously. Moreover, holding hands with Huawei to strengthen the scientific and technological performance and scarce attributes of products will enhance the brand competitiveness of Xiaokang shares.