In response to the decline in the net profit of returning to the mother, BAIC said: "The main reason is that Beijing Brand and some investment enterprises are affected by the intensified competition in the domestic passenger car industry and the overall downturn in the market." According to the statistics of China Automobile Industry Association, the sales volume of passenger cars in China in 20 19 was 214.44 million, down 9.6% year-on-year.
The financial report of BAIC 2065 438+09 shows that the sales growth of its Beijing Benz and Beijing brands has boosted the growth of operating income. Both Beijing Benz and Beijing brand passenger cars have achieved operating income growth. The data shows that in 20 19, the related business income of Beijing Benz increased from13541500 million yuan in 20 18 to1540,000 yuan, a year-on-year increase of10. In 20 19, Beijing brand-related income1947.9 billion yuan, up 18% year-on-year.
Both Beijing Benz and Beijing brand achieved sales growth in 20 19, but the gross profit margin and profit declined respectively. Among them, the sales volume of Beijing Benz in 20 19 increased 17% year-on-year. At the same time, the gross profit of Beijing Benz increased from 40.523 billion yuan in 20 18 to 42.2.1500 million yuan, a year-on-year increase of 4.2%. However, the gross profit margin decreased from 29.9% in 20 18 to 27.2% in 20 19, mainly due to the increase in the proportion of low-quality vehicles sold in Mao Lijiao. In fact, the gross profit margin of Beijing Benz in 20 18 declined for the first time since 20 15, and the gross profit margin dropped from 32.7% in 20 17 to 29.9%.
The sales volume of Beijing brand in 20 19 increased by 6.9% year-on-year, reaching167,000 vehicles, but the increase in revenue did not increase profits. The gross profit of Beijing brands decreased from-3565438+0.6 billion yuan in 2065438+08 to-4728 million yuan. "The main reason is the increase in vehicle promotion and the impact of new energy subsidy policies." The financial report said.
In addition, Beijing Hyundai sold 663,000 vehicles last year, a year-on-year decrease of 65,438+06.2%; Fujian Benz sold 28,000 vehicles, down 65,438+0.5% year-on-year.
According to public information, BAIC's main businesses are R&D, passenger car manufacturing, sales and after-sales service, production of core parts of passenger cars, auto finance and related businesses. Among them, the passenger car business is carried out through Beijing Brand, Beijing Benz, Beijing Hyundai and Fujian Benz.
Beijing Benz is still the "profit cow" of Beijing Auto, and its revenue accounts for about 88% of Beijing Auto's total revenue. Beijing Benz has become the production base of Mercedes-Benz passenger cars with the highest output in the world. At present, Beijing Benz is responsible for the production of A-class, C-class and E-class long-wheelbase cars, GLA? SUV、GLB？ SUV、GLC？ SUV, pure electric SUV? EQC and AMG? A35L and other models. Among them, the A-class sedan was launched in the fourth quarter of 20 18. EQC and AMG? A35L was introduced to China market on 20 19. Last year, domestic models accounted for more than three-quarters of Mercedes-Benz's total sales in China, which brought rich returns to Beijing Auto.
Beijing brand is in a period of adjustment, and it is not difficult to understand the decline in gross profit. In 20 19, Suibao brand was hidden in the snow, and BAIC completed the upgrading of Suibao brand in Beijing. In terms of products, Beijing brand launched compact SUV? Beijing? X3。 Intermediate car Beijing? U7, EU7 pure electric vehicles and other models. BAIC New Energy, a subsidiary of BAIC, remains one of the largest manufacturers of pure electric vehicles in China. Last year, EU5 pure electric vehicles sold 80,000 vehicles, and the bicycle market share was nearly 10%.
Beijing Hyundai, which has a poor market performance in recent years, focused on new car listing, adjusting marketing rhythm and destocking last year. It is understood that Beijing Hyundai launched six new products on 20 19 * * *. In terms of Fujian Benz, the sales volume in 20 19 was 28,000 vehicles, down 1.5% year-on-year, still outperforming the overall market.
As for the market prospect in 2020, BAIC said that due to the economic downturn, supply upgrading, policies, demand differentiation and other factors, it is expected that the passenger car market in China will be in a period of periodic adjustment, and it will still take two to three years to restore the positive growth trend.
In the face of pressure, BAIC has formulated a differentiated business strategy for its passenger car department. Beijing brand, which has just completed brand upgrade, will further complete the work of brand rejuvenation; Beijing Hyundai will also promote the work from four aspects: listing the main new car, perfecting the system, practicing internal strength, restoring profitability and strengthening future competitiveness.
In response to the impact of the pneumonia epidemic in COVID-19 on the company, BAIC said, "The Group pays close attention to the development of the epidemic and evaluates its impact on the Group's financial position and operating results. As of the date of this announcement, the Group has not found that the epidemic has a significant adverse impact on the financial statements. "
During the epidemic, BAIC Group and related companies actively donated money and materials to support the epidemic prevention work. According to incomplete statistics, BAIC Group and its 10 companies, including Beijing Auto, donated170,000 yuan; Beijing Benz and Mercedes-Benz Sales Company donated 6,543,800 yuan; Beijing Hyundai and Hyundai Motor Group donated 5 million yuan worth of medical materials and100000 yuan in cash.
This article comes from car home, the author of the car manufacturer, and does not represent car home's position.