Recently, domestic car companies have successively released their 2022 performance forecasts. Unlike BYD, Ningde Times and other companies whose performance has soared, as China‘s former “new energy brother”, BAIC Blue Valley’s performance forecast is still quite ugly.
According to the announcement of BAIC Blue Valley, it is estimated that the company’s annual net profit attributable to shareholders of listed companies will be a loss of 5.2-5.8 billion yuan.The annual non-net profit attributable to shareholders of listed companies is a loss of 5.6-6.2 billion yuan.
In this regard, many stockholders did not give any face, and directly said, “Why not ST?”
The announcement also pointed out that there are two reasons for the pre-loss performance of BAIC Blue Valley. The effect is not obvious, and at the same time, the company continues to invest in technology research and development and brand channel construction.
For BAIC Blue Valley, this is its third year of losses. In 2020, it lost 6.482 billion yuan, in 2021 it lost 5.244 billion yuan, plus the loss in 2022, the cumulative loss in three years was about 17 billion yuan. .
The loss situation of BAIC Blue Valley can be seen from the sales volume. Its annual sales volume from January to December was 50,179 vehicles. Although it increased by 92.06% year-on-year, for a large domestic car company,The sales volume of more than 50,000 vehicles is not even as good as the monthly sales volume of a single model from BYD, Great Wall, Changan and other car companies.
In fact, BAIC Blue Valley has also had a bright moment. Its predecessor was BAIC New Energy, which began to operate independently in 2009. Around 2016, the domestic new energy vehicle market began to grow strongly.
By opening up the B-end market, BAIC Blue Valley has rapidly expanded its sales volume. From 2016 to 2018, the company has been the sales champion of new energy vehicles in China. Moreover, in the early stage of the new energy national subsidy, the policy dividend was maximized.
However, the competition in the domestic new energy vehicle market intensified later, and BAIC Blue Valley, which did not have much advantage in product strength, gradually fell out in the competition.