The annual report of “Big Mac” of new energy vehicles has been released.
On March 29, Byd Company Limited(002594) disclosed the annual report. In 2021, the operating revenue was about 216.1 billion yuan, an increase of nearly 40% year-on-year, and the average daily operating revenue was nearly 600 million yuan, a record high. However, the net profit declined, and the net profit for the whole year was about 3 billion yuan, a year-on-year decrease of nearly 30%.
In 2021, the sales volume of Byd Company Limited(002594) new energy vehicles exceeded Shanghai Pudong Development Bank Co.Ltd(600000) units, with a year-on-year increase of 218.30%; The market share of new energy vehicles reached 17.1%, an increase of nearly 8%.
The average unit price of a single car exceeds 150000 yuan. It is reported that in 2022, Byd Company Limited(002594) will further explore the high-end market and launch high-end brands.
On March 29, Byd Company Limited(002594) shares were quoted at 231 yuan / share, with a market value of 611.6 billion yuan.
R & D investment reaches 10 billion
Byd Company Limited(002594) mainly engaged in automobile business including new energy vehicles and traditional fuel vehicles, mobile phone parts and assembly business, secondary rechargeable battery and photovoltaic business, and actively used its own technical advantages to expand urban rail transit and other businesses.
In 2021, Byd Company Limited(002594) achieved an operating revenue of 216142 billion yuan, a year-on-year increase of 38.02%; The net profit attributable to the parent company was 3.045 billion yuan, a year-on-year decrease of 28.08%; The annual dividend is proposed to be 1.05 yuan for every 10 shares.
Insiders said that profit pressure is closely related to the sharp rise in raw material prices. Taking lithium iron phosphate, an important raw material of new energy batteries, as an example, its price has risen since last year.
Source: company announcement
From the other side of the cost side, in 2021, Byd Company Limited(002594) significantly increased R & D investment. According to the financial report data, in 2021, Byd Company Limited(002594) R & D investment was 10.627 billion yuan, a year-on-year increase of 24.20%; The number of R & D personnel was about 40400, with a year-on-year increase of 31.52%.
new energy vehicle market share reached 17.1%
In terms of business, the revenue of the company’s automobile, automobile related products and other products business was about 112489 billion yuan, a year-on-year increase of 33.93%; The revenue from mobile phone parts, assembly and other product business was about 86.454 billion yuan, a year-on-year increase of 43.99%; The revenue of rechargeable battery and photovoltaic business was about 16.471 billion yuan, a year-on-year increase of 36.27%. The three businesses accounted for 52.04%, 40.00% and 7.62% of the company’s total revenue respectively.
According to the data of China Automobile Association, in 2021, the production and sales of China Shanxi Guoxin Energy Corporation Limited(600617) automobile market completed 3.545 million and 3.521 million respectively, with an average year-on-year increase of 1.6 times, and the market share reached 13.4%, 8 percentage points higher than that of the previous year.
Under the general trend of industrial development, Byd Company Limited(002594) 2021 saw the annual sales volume of new energy vehicles exceed Shanghai Pudong Development Bank Co.Ltd(600000) units, with a year-on-year increase of 218.30%, achieving the first sales volume of new energy vehicles in China for nine consecutive years. The company’s market share of new energy vehicles reached 17.1%, with an increase of nearly 8% during the year, and its sales volume remained at the forefront of the world. From January to February this year, the sales volume of new energy vehicles exceeded 180000 units, a year-on-year increase of nearly five times.
“In the future, Byd Company Limited(002594) auto business will be composed of four sectors: Wang Chaowang, Haiyang, Tengshi and high-end brands. With the launch of new models, Byd Company Limited(002594) ‘s product matrix will be more perfect.” Byd Company Limited(002594) relevant person in charge said.
this year is a key year for accelerating change
“More than expected.” This is the evaluation of Wang Chuanfu, President of Byd Company Limited(002594) company, on the development of new energy vehicles in the past year.
From the beginning of last year, the average penetration rate of cars reached 22.7% from the end of last year. The penetration rate in the first half of March this year has exceeded 28%.
For the future, he believes that the speed of industry reform may be faster than expected. “Behind the explosive growth of the market, the industry is facing severe challenges such as rising raw material prices and unstable supply chain. This year is a key year for new energy vehicles to seize the momentum and accelerate change.” Previously, Wang Chuanfu said at the electric vehicle 100 people’s meeting.
Source: Byd Company Limited(002594)
Byd Company Limited(002594) ‘s coping strategy is to stick to the “two legs” walking of pure electric and plug-in hybrid. “If pure electric vehicles focus on solving the need for additional purchase, plug-in hybrid has effectively solved the first purchase and replacement demand of more families, and has formed an obvious substitution effect on the huge stock of fuel vehicle market. Plug-in hybrid is an important path to achieve the dual carbon goal. The reform is relatively warm, which helps to stabilize the supply chain of the industrial chain and realize the smooth transition from fuel vehicle to pure electric vehicle.” Wang Chuanfu said.
For the problem of rising raw material prices faced by the industry, Wang Chuanfu suggested comprehensively sorting out the layout and capacity of lithium carbonate resources, increasing China’s mining volume and foreign imports, maintaining market supply and demand, stabilizing price expectations, and promoting the healthy and safe development of the industry
Byd Company Limited(002594) suffered from the rise in the price of raw materials. Last year, the revenue soared and the net profit fell by nearly 30%
A variety of cars are on sale Byd Company Limited(002594) 2021 Revenue: 216.1 billion R & D investment, focusing on blade batteries
