The revenue of a car company often best reflects the real profitability of the car company, and in August, the three largest domestic car companies (Geely, Great Wall, BYD) also announced their financial reports in the first half of the year. Unexpectedly, in the past, we thought that Geely and Great Wall, the two major automobile brand "giants", in the first half of this year's financial report data, their operating income together is not as much as BYD, so does this mean that BYD has become the number one "bearer" in domestic automobile brands? Let's take a look together.
Geely Automobile
Operating income in the first half of the year: 73.18 billion yuan
Since the acquisition of Volvo's passenger car business segment, Geely Automobile's status and weight in the eyes of the Chinese people have continued to rise, and in the first half of this year, Geely Automobile's operating income reached 73.18 billion yuan, a year-on-year increase of 25.8%.
In terms of sales volume, Geely's total new car sales in the first half of the year were 694,000 units, a year-on-year increase of 13.1%, and the average sales revenue per model increased by 6.8% year-on-year to 101,000 yuan. Profit attributable to shareholders increased by 1.2% year-on-year to RMB1.57 billion, total cash level remained stable at RMB33.64 billion, and operating cash flow increased by 9.1% to RMB10.7 billion.
In addition, in terms of exports, Geely Group's cumulative export sales in the first half of this year were 121,185 new vehicles, a year-on-year increase of more than 38%. At the same time, Geely is also increasing R&D investment in the field of intelligent electrification, of which Geely Automobile's total R&D investment in the first half of this year increased by 62.8% year-on-year to RMB 5.91 billion, in order to further accelerate technological innovation in the field of new energy intelligence.
In general, Geely Group has laid out a number of automobile brands such as Geely, Lynk & Co, Geely, Geometry, Ruilan, Volvo, Proton, Lotus, Smart Motor, Polestar, Radar, Yuan, Yinglun Electric and so on, and Geely Group is also vigorously accelerating the pace of development in the field of new energy vehicles, so its future is still very promising.
Great Wall Motor
Operating income in the first half of the year: 69.971 billion yuan
After reading Geely, let's look at the Great Wall. As an authentic private car company, Great Wall Motor is located in Baoding, Hebei Province, and first started by producing pickup truck models. Today, Great Wall Motor has been established for nearly 40 years, and the world also knows that Chinese cars have the Great Wall.
The picture shows the first Deer pickup truck produced by Great Wall
Just on August 30, Great Wall Motor released its financial report for the first half of 2023. Data show that from January to June this year, Great Wall Motor's operating income reached 69.971 billion yuan, a year-on-year increase of 12.6%, achieving growth for three consecutive years; Net profit attributable to owners was RMB1,361 million, and the average selling price of bicycles increased to RMB136,100. It is worth mentioning that Great Wall Motor's total operating revenue in 2022 will be 137.44 billion yuan, so according to this trend, Great Wall's revenue this year should be higher than last year.
In terms of sales, Great Wall Motor sold a total of 518796 new cars from January to June this year, and the average selling price of bicycles also increased to 136,100 yuan; in addition, Great Wall's sales of new energy models this year reached 89,555 units, a year-on-year increase of 49.3%.
In addition to the hot sales in the domestic market, Great Wall has been continuously cultivating overseas markets in recent years, specifically, Great Wall Motor sold 123294 new cars overseas in the first half of the year, a year-on-year increase of 80.2%, and hit a record high. In addition, Great Wall is also promoting the rapid establishment of overseas dealer network, and in the first half of the year, it established strategic partnerships with dealers such as Vietnam Cheng An Group, Singapore Cycle & Carriage Group, and Inchcape Group to provide better services to consumers.
Finally, through this series of sales data and global layout, we can also see that Great Wall Motor's own technology and manufacturing strength is still very strong, and in the second half of the year, with a number of new models about to be launched, we also believe that its revenue will reach a new high, wait and see.
BYD
Operating income in the first half of the year: 260.124 billion yuan
BYD was founded in 1995 and has gone through 28 years. In the history of Chinese automobiles, BYD's sense of existence is not strong, and its real all-round rise is also due to the new energy vehicle purchase boom that has risen in recent years. By the way, BYD is also the first domestic automobile manufacturer to announce the complete suspension of fuel vehicles, which shows that BYD is full of strength to "amplify the move" in the field of new energy.
Seeing BYD's financial report for the first half of 2023, in the first six months of this year, BYD achieved revenue of 260.124 billion yuan, a year-on-year increase of 72.72%; The net profit attributable to shareholders of the listed company was 10.954 billion yuan, an increase of 204.68% over the same period last year. It is worth mentioning that BYD's revenue of 260.124 billion yuan in the first half of the year is already higher than the sum of the revenue of Geely + Great Wall in the first half of this year, do you dare to believe this?
In terms of sales, BYD's sales of new energy models from January to June this year were 1.256 million units, a year-on-year increase of 94%, the cumulative sales of pure electric models were 616,800 units, a cumulative increase of 91% year-on-year, and the proportion of new energy market was about 38%.
Many people may not be puzzled by this, why has BYD been able to develop so fast in the past two years? In fact, behind the growth of BYD's sales, it is inseparable from BYD's unremitting investment in core technology fields.
You know, in the first half of this year alone, BYD's investment in research and development has reached 14.246 billion yuan, a year-on-year increase of 120.2%. If you don't have a concept, then we might as well go back to the Geely above. Geely Automobile's R&D investment in the first half of the year was 5.91 billion yuan, which at first glance is a lot, but BYD's R&D investment is more than twice that of Geely, so why BYD's cars sell well, the answer is actually hidden in this.
To tell you another thing, BYD's current investment in the field of research and development has exceeded 100 billion, with more than 90,000 R & D engineers and 11 major research institutes, and BYD can submit 19 patent applications and obtain 15 patent authorizations every working day. So if you look at it this way, do you still think that BYD does not have technology? Do you still think that their car sales are opportunistic?
Finally, in addition to the automotive sector, BYD has also made breakthroughs in consumer electronics sectors including mobile phone parts and assembly. According to data, in the first half of this year, BYD's electronics segment revenue was 51.09 billion yuan, a year-on-year increase of 24%, and the gross profit margin was 8.8%, a year-on-year increase of 2.7 percentage points. It is also thanks to the increase in the share of large customers and the growth of emerging businesses such as new energy vehicles and smart products that BYD Automobile's revenue in the first half of the year and ranked first among the three major domestic automobile brands in the first half of the year.
In short, whether it is BYD or Geely, Great Wall, they are all Chinese automobile manufacturers that the Chinese people are proud of, in the context of the rise of new energy vehicles, we always believe that their products will be better and better, and more and more Chinese people will abandon joint venture vehicles and choose models under domestic automobile brands such as Great Wall, Geely, BYD, Chery, Changan and so on. Finally, are you optimistic about the future of domestic cars? Leave a message in the comment area to talk about it, let's exchange and discuss together. (Text/Uvision Auto, Dazhuo)
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