With the new energy vehicle industry gradually entering a new stage of market driven, brand power and product power have increasingly become an important reference for consumers when purchasing new cars. As one of the enterprises that have laid out new energy vehicles earlier in China, Baic Bluepark New Energy Technology Co.Ltd(600733) ( Baic Bluepark New Energy Technology Co.Ltd(600733) , SH) is improving its brand reputation and product competitiveness with the main line of stable operation, product upgrading, structural adjustment and strengthening. On March 26, Baic Bluepark New Energy Technology Co.Ltd(600733) released the 2021 annual report, which showed that the main business income of the enterprise in 2021 was 8.697 billion yuan, an increase of 64.95% year-on-year; The net loss attributable to shareholders of listed companies was 5.244 billion yuan, a year-on-year decrease of 1.239 billion yuan. It is worth mentioning that in 2021, Baic Bluepark New Energy Technology Co.Ltd(600733) net cash flow from operating activities was 4.985 billion yuan and became a regular.
\u3000\u3000 “Last year, we improved our profitability. Through the reduction of non main business and the development of main business, the overall profitability has been improved. This year, we feel a positive signal from the new energy vehicle market. Through the current cooperation with industrial chain partners and relevant technical research, we are still confident that we can make the ceiling of the industry around intelligence, technology, safety, quality and luxury.” Dai Kangwei, Baic Bluepark New Energy Technology Co.Ltd(600733) manager and general manager of BAIC new energy, said.
multiple performance indicators show signs of business recovery
As an early enterprise in China’s market to transform to new energy, Baic Bluepark New Energy Technology Co.Ltd(600733) has sold more than 550000 pure electric vehicles in 12 years.
However, with the transformation of the market from policy driven to market driven, Baic Bluepark New Energy Technology Co.Ltd(600733) also faces new challenges. In order to better meet the market demand, Baic Bluepark New Energy Technology Co.Ltd(600733) opened a new round of adjustment. In 2021, Baic Bluepark New Energy Technology Co.Ltd(600733) focusing on the business ideas of stable operation, product upgrading, structural adjustment and strengthening Jihu, on the one hand, vigorously promote the brand construction of Jihu, accelerate market expansion and enhance its influence on the private market; On the other hand, strengthen lean management, continue to build independent technical capacity, increase R & D investment, clear the burden, strengthen the foundation and prepare for rebound.
At present, a series of transformation actions have achieved initial results. The 2021 annual report shows that the revenue of Baic Bluepark New Energy Technology Co.Ltd(600733) year increased significantly, the loss narrowed year-on-year, the overall operation improved, and the enterprise showed a steady development trend.
According to Dai Kangwei, in 2021 Baic Bluepark New Energy Technology Co.Ltd(600733) further deepened transformation and innovation in organizational structure, brand positioning and product structure. At the level of organizational structure, Baic Bluepark New Energy Technology Co.Ltd(600733) from the previous administrative organization into a business organization. At the same time, allocate resources according to the business chain and focus on the “new four modernizations” technology fields such as intelligence and network connection. At the level of business structure, Baic Bluepark New Energy Technology Co.Ltd(600733) makes every effort to build a high-end new energy vehicle brand arcfox, makes efforts in the medium and high-end market, and focuses its resources on R & D.
According to the data, the Baic Bluepark New Energy Technology Co.Ltd(600733) R & D expenditure in 2021 was 1.208 billion yuan, a year-on-year increase of 24.14%. Among them, the research and development of three electricity (battery, electric drive and electronic control), vehicle model, new materials and intelligent technology is the focus of Baic Bluepark New Energy Technology Co.Ltd(600733) focus. At the same time, the construction of international leading verification facilities and standards in terms of parts, vehicles, materials and safety has also become the technical “moat” of the enterprise.
In 2021, the second phase of the test center led by Baic Bluepark New Energy Technology Co.Ltd(600733) was officially put into use, providing support for enterprises to continuously improve their R & D technical capacity. It is worth mentioning that Baic Bluepark New Energy Technology Co.Ltd(600733) successfully achieved the international output of key technology intellectual property rights in 2021: including electronic and electrical EE architecture based on be21 pure electric vehicle product platform and chassis technology based on be21 platform, creating a precedent in China’s automobile industry.
take Jihu brand as the anchor point to launch high-end
According to the data, the sales volume of high-end passenger cars and private cars accelerated significantly, accounting for more than 27% of the total market share in 2021. As a high-end brand of Baic Bluepark New Energy Technology Co.Ltd(600733) company, Jihu automobile is also continuing to increase its brand and channel construction to seize market opportunities.
\u3000\u3000 “Through the overall intensive cultivation last year, the terminal sales of alpha T and alpha s models of extreme Fox brand have achieved good results. In the first quarter of this year, with the promotion of the overall market, it is expected to complete about half of the sales of last year. On the one hand, it is due to market opportunities, on the other hand, it is due to the recognition of our brand and products by market consumers after the improvement of system, channel and marketing ability of extreme Fox brand in the past year But. ” For the follow-up market performance of Jihu brand, Dai Kangwei is very confident.
According to the data, Baic Bluepark New Energy Technology Co.Ltd(600733) 2022 February vehicle sales volume was 1263, with a year-on-year increase of 24.8%; From January to February, the cumulative sales volume was 3385, with a year-on-year increase of 62.43%. While the sales volume of new energy vehicles is rising, Jihu brand has achieved 100% coverage of the core market in 15 key cities where the sales volume of high-end pure electricity market accounts for more than 80%, and has completed full coverage of 21 cities with potential.
In terms of marketing mode, Baic Bluepark New Energy Technology Co.Ltd(600733) around users and sales scenarios, promote the “Online + offline” integrated marketing mode, and innovate and develop direct sales, distribution and digital marketing business; In channel construction, promote the construction of Direct stores, distribution stores and service networks for the high-end market; At the level of capability improvement, it deeply refined the experience process of each scene of store side operation, supported the preparation of business guidance manuals for stores across the country, and assisted dealers to improve their operation capability and customer experience.
The data shows that by the end of 2021, Jihu automobile has completed the construction of more than 120 authorized outlets. In addition, 73 authorized service centers covering 54 cities across the country provide users with 24-hour online services of the team directly under Jihu to ensure the coverage of multi-channel and full scene users’ car life.
Moreover, as the market scale of new energy vehicles becomes more and more mature, the division of labor in the industrial chain becomes more and more refined. Enterprises should not only fully master the core technology, but also be good at integrating the advantageous technical resources in various fields of the industrial chain. For this reason, Baic Bluepark New Energy Technology Co.Ltd(600733) has taken precautions in recent years and joined hands with Huawei, Baidu, Magna, Didi, Contemporary Amperex Technology Co.Limited(300750) and other industrial chain technology giants to establish an industrial community facing the future of the industry.
Since 2017, Baic Bluepark New Energy Technology Co.Ltd(600733) has signed cooperation agreements with Huawei for four times to continuously deepen bilateral cooperation. The two sides jointly set up the “1873 Davidson innovation laboratory”, continuously improved the cooperation management mechanism, strengthened product R & D and joint brand marketing, formed a partnership of mutual priority, and took the lead in a highly collaborative development model. The new hi version of the model Jihu alpha s with in-depth cooperation between the two sides will also be delivered in batch in the first half of 2022.
Dai Kangwei said that for 2022, Baic Bluepark New Energy Technology Co.Ltd(600733) the sales target is 100000, including 40000 Jihu cars. In terms of current sales volume, if the sales volume target of 2022 is achieved, the sales volume of Baic Bluepark New Energy Technology Co.Ltd(600733) will increase by 282% year-on-year, of which the sales volume of Jihu brand will increase by 701% year-on-year.
It can be predicted that with its technical strength in the field of product R & D, cooperation with advantageous enterprises in the industrial chain and rapid layout on the brand service network, Baic Bluepark New Energy Technology Co.Ltd(600733) is expected to complete the comprehensive transformation from manufacturing thinking to Internet thinking, and bring a better experience of intelligent travel to more users with a new look and more thinking dimensions.
