We didn't know who was swimming naked before the low tide.
On the evening of March 3 1 Sunday, Guangzhou Automobile Group (60 1238. SH, 02238HK) released the 20 19 annual performance report. Although it is against the trend, there are also many bright spots. According to the financial report, in 20 19, Guangzhou Automobile Group, together with its joint venture and associated company * *, realized a total operating income of about 355.09 billion yuan, down by about 2.36% year-on-year. The consolidated operating income was about 59.704 billion yuan, a year-on-year decrease of about 17.5 1%, and the net profit attributable to shareholders of the parent company was about 666.6. The data is bleak, but compared with the overall trend, there are some bright spots.
At the same time, the market share of Guangzhou Automobile Group also increased slightly by 0.35 percentage points, occupying the top five position in the national automobile sales. On the basis of distributing a dividend of 0.05 yuan per share in 20 19, the board of directors of Guangzhou Automobile Group continued to give back to investors generously, and proposed to distribute a dividend of 0. 15 yuan per share at the end of the year, with a total dividend of about 2.048 billion, accounting for as much as 30% of the current profit in 20 19.
Faced with the decline of 20 19 and the uncertainty of the automobile market in 2020 affected by the epidemic, Guangzhou Automobile Group announced the goal of achieving a 3% year-on-year increase in production and sales, which seemed a bit overconfident. So, where does the confidence of Guangzhou Automobile Group come from?
Japanese is in a strong cycle.
The five integrated brands of Guangzhou Automobile Group are Guangzhou Automobile Passenger Car, Guangzhou Automobile Honda, Guangzhou Automobile Toyota, Guangzhou Automobile Fick and Guangzhou Automobile Mitsubishi. Among them, Toyota and Honda brands are particularly eye-catching. According to official data of GAC Toyota, 624,224 new cars were sold in 201~1in 2009, up by 16% year-on-year, exceeding the annual sales target of 2,065,438+630,000 vehicles in 2009 one month ahead of schedule. By the end of 20 12, Guangfeng's income had increased year-on-year. Although Guangben is not as dazzling as Guangfeng, it has achieved an 8% growth. These achievements are mainly due to the launch of 20 19 Toyota and Honda new products. It is foreseeable that in 2020, Japanese products will still have strong competitiveness, and this strong cycle will continue.
On the other hand, with the good momentum, Guangzhou Automobile Group has expanded the production capacity of these two Japanese car companies. At the end of 20 19, the capacity expansion of the third production line of GAC Toyota base was completed, with an annual production capacity of120,000 vehicles. The first and second expansion projects of GAC Toyota's new energy vehicles have also started and are expected to be put into production in 2020. Guangqi Honda expanded its annual production capacity by 6,543.8+0.2 million vehicles in Zengcheng, and completed the absorption and merger of Honda Motor (China) Co., Ltd. in April of 654.38+0, which can increase the production capacity by 50,000 vehicles. In 2020, Guangzhou Automobile Group is expected to launch 65,438+09 new cars, including a new generation of Fit, a modified crown road, an HEV version to be launched by Guangben Lingpai and an EV version to be launched by C-HR. ..
Perhaps, there are excellent products in the strong cycle, and the production capacity can be smoothly expanded, which may be the reason why GAC remains optimistic about the future.
Of course, behind the bright spot, we seem to see some disharmonious factors. According to the financial report, except for Toyota and Honda, the sales of other passenger car companies under Guangzhou Automobile Group are poor. In 20 19, the sales volume of GAC passenger cars was 385,000, down by 28. 14% year-on-year. GAC Fick sold 74,000 vehicles in 20 19, down 40.96% year-on-year. GAC Mitsubishi sold 654.38+033 million vehicles, down 7.64% year-on-year. Although Guangzhou Automobile Group's investment income from the joint venture company increased by 7.4% in 20 19, due to the market downturn, the sales of independent brands declined, and the capacity utilization rate was only 55.9%, which temporarily led to losses, thus lowering the profits of the entire Guangzhou Automobile Group.
Vigorously develop new energy sources? Fist product upgrade
Although the decline of independent brands is serious, the independent new energy of Guangzhou Automobile Group is a bright color. In 20 19, GAC New Energy sold 42,003 vehicles, up 1 10% year-on-year. Eternal tower? Since the listing of S in April 20 19, the sales volume has reached a new high, achieving "seven consecutive rises". /kloc-in February of 0/9, its sales volume reached 8406 units. On the one hand, it has caught up with the east wind of the new energy vehicle market, on the other hand, it is also the result of the resolute transformation of Guangzhou Automobile Group. It is reported that GAC New Energy will launch two brand-new pure electric vehicles this year to win this battle and consolidate its advantages.
For traditional strategic vehicles, Guangzhou Automobile Group has made great efforts to iteratively improve technology and quality in order to gain more markets. 2019165438+1October 15 chuanqi GS4 based on the new global platform modular architecture GPMA was officially launched, and the product achieved a qualitative leap. And in 20 19, GAC also upgraded Chuanqi GA6, GM6 and other products. In 2020, Chuanqi will also launch a number of new cars, such as GS4? PHEV (plug-in hybrid) and coupe version, modified version GA8, etc.
Product upgrade iteration and strategic transformation, perhaps this is the reason why Guangzhou Automobile Group is confident to continue to grow in 2020. In order to achieve long-term and stable development, there must be enough technical input to ensure the competitiveness of products. Fortunately, we saw this in the financial report of Guangzhou Automobile Group.
Independent research and development, and constantly expand the "moat"
In 20 19, Guangzhou Automobile Group Detroit R&D Center officially opened for operation, initially forming a global R&D network of "Guangzhou General Institute+North American R&D Center+Shanghai Forward-looking Design Studio", which is also a reflection of Guangzhou Automobile's increasing R&D investment in recent years. By the end of 20 19, the company had 6,222 R&D personnel and 504,654,380+0 million yuan in R&D investment.
In 20 19, GAC fully promoted 53 vehicle projects, completed the development and listing of 14 models, completed the independent research and development of the first Miller Cycle 1.5TM engine and 7WDCT automatic transmission, and added 55 patent applications 1.455, with a total of 6079 patent applications. 799 new patents were granted (including invention patents 166), and 3723 patents were granted (including 575 invention patents). In addition, Chuanqi GE3 won the national design patent gold medal for the first time. 201911310. In October, the project "Technical Research and Product Development of GAC Small Displacement Gasoline Engine Platform" won the first prize of the highest honor "Science and Technology Award" issued by China Internal Combustion Engine Society.
At present, GAC has made a lot of world-leading achievements in the research and development of new energy technologies, especially the three-in-one electric drive system technology, which has achieved light weight, high torque and low energy consumption. In addition, new energy vehicles have mastered the development technology of pure electric, plug-in and hybrid products, and five new energy products have been listed, such as plug-in hybrid vehicle GS4? PHEV、GA3S？ PHEV, pure electric vehicle GE3, Aion series new energy vehicles based on the second generation pure electric platform? S and Aion? LX .
Dong Qing's comments: Although the general trend is not good, it seems that luck is on GAC's side. At least in the next two or three years, GAC is not worried. But the market also pursues a sentence, that is, "if you don't advance, you will retreat." Throughout the past few years, well-developed enterprises, constantly increasing investment in research and development, and having their own core competitiveness can have the last laugh. In the best days, GAC did the right thing and continuously increased investment in research and development. This is the technology of GAC's steady operation.
All happy families are alike, but each unhappy family is unhappy in its own way.
This article comes from car home, the author of the car manufacturer, and does not represent car home's position.