"Affected by the epidemic in 2021 and the rise in the price of raw materials, the Guangzhou Automobile Group Co.Ltd(601238) cost increased by 7 billion." On March 31, Guangzhou Automobile Group Co.Ltd(601238) chairman Zeng Qinghong said at the 2021 performance communication meeting.
The previous day, Guangzhou Automobile Group Co.Ltd(601238) ( Guangzhou Automobile Group Co.Ltd(601238) . Sh, 02238. HK) released its annual performance report for 2021. During the reporting period, Guangzhou Automobile Group Co.Ltd(601238) summary achieved a total operating revenue of about 429755 billion yuan, a year-on-year increase of about 8.66%; The total operating income of the consolidated standard was about 75.676 billion yuan, with a year-on-year increase of about 19.82%; The net profit attributable to shareholders of listed companies exceeded 7.3 billion yuan, a year-on-year increase of nearly 23%; The basic earnings per share is 0.72 yuan and the dividend is 1.7 yuan for every 10 shares.
According to the data, in 2021 Guangzhou Automobile Group Co.Ltd(601238) respectively achieved the production and sales of 2138100 and 2144400 vehicles, with a year-on-year increase of 5.08% and 4.92%. Among them, the production and sales of new energy vehicles were 144700 and 142900, with a year-on-year increase of 88.68% and 77.35% respectively.
In terms of sectors, the polarization of the joint venture sector is obvious. In addition to GAC Toyota's annual cumulative sales of 828000 vehicles, with a year-on-year increase of 8.23%, GAC Honda, GAC Fick and GAC Mitsubishi all fell to varying degrees. Affected by the shortage of chips, GAC Honda, one of the "profit cows", suffered a serious decline in sales in the third quarter of 2021 and returned to normal in the fourth quarter, but the annual sales still fell by 3.17% year-on-year. In addition, the annual sales volume of GAC Fick in 2021 was only 20000, a year-on-year decrease of 50.33%; GAC Mitsubishi's sales volume in 2021 was 66000, down 11.99% year-on-year.
"In 2021, the chip had a significant impact on GAC. Among them, GAC Honda was the most affected joint venture car enterprise. Originally, the annual sales volume could reach at least 900000, but in the end, it was only 780000. In addition, the sales volume was also affected by the chip shortage." Feng Xingya, Guangzhou Automobile Group Co.Ltd(601238) general manager, believes that "the due growth rate of the group is disrupted by chips and the production capacity cannot be brought into play. I hope the lack of core can be fundamentally alleviated this year."
Although affected by the lack of core, the independent sector still performed strongly in 2021. GAC motor's total sales volume in 2021 was 324200 vehicles, with a year-on-year increase of 10.35%; GAC sold 1.01 million safety vehicles, a year-on-year increase of 8.8%. According to Zeng Qinghong, the production and sales of Guangzhou Automobile Group Co.Ltd(601238) in the first quarter of this year increased by 25% year-on-year. If it is not affected by the chip, it will achieve an increase of 30%.
Affected by the declining policy of new energy subsidies and the rise in the price of raw materials, there were two price rises of new energy vehicles in January and March this year, and more than 20 car enterprises increased their prices, including GAC AIAN.
As for whether the price increase will affect the terminal sales volume, Guangzhou Automobile Group Co.Ltd(601238) deputy general manager Wang Dan said that Guangzhou Automobile Group Co.Ltd(601238) has better advantages in stabilizing the supply chain and cost control, and has taken a variety of measures to digest the pressure brought by the rise of raw materials.
"The price increase has not had much impact at present. At present, the orders of ai'an have returned to the level before the price increase, and the increasing orders every day are about 1 Yihua Healthcare Co.Ltd(000150) 0." Wang Dan said, "we are confident to achieve the annual sales target and our ability will continue to improve."
This goal is that Guangzhou Automobile Group Co.Ltd(601238) will challenge the year-on-year growth of automobile production and sales by 15% in 2022. According to the production and sales data of 2021, the production and sales of Guangzhou Automobile Group Co.Ltd(601238) will exceed 2.45 million vehicles in 2022, an increase of more than 300000 vehicles compared with 2021.
"This is a goal that you can't touch until you jump up." Feng Xingya said that Guangzhou Automobile Group Co.Ltd(601238) 2022 will launch more than 15 new, upgraded and medium modified models to launch product offensive. In addition, Guangzhou Automobile Group Co.Ltd(601238) will launch a super running model with a price of more than 1 million by the end of 2022.
It is worth mentioning that Guangzhou Automobile Group Co.Ltd(601238) repeatedly mentioned the process of gac-ea mixed reform at the communication meeting. On March 17 this year, gac-e'an announced that it had completed employee equity incentive and introduced three investors with state-owned assets background. It is expected to complete round a financing in the third quarter of this year and choose the time, opportunity and place for listing in the future.
"I hope that ea'an will complete the a-round financing in September and October, and strive to achieve an independent IPO next year, with a planned financing of 50 billion. All the money will be invested in R & D and technology. The key to mixed reform is financing and governance structure, more systems and mechanisms, and better retain talents." Zeng Qinghong told the 21st Century Business Herald reporter, "at present, there are many institutions interested in the a-round financing of GAC ea'an. We mainly want to introduce some strategic investors who can produce synergistic effects on the subsequent development of ea'an. Generally speaking, the goal of the mixed reform of ea'an is to turn the current 'Wei Xiaoli' into 'AI Xiaowei'."
It is worth mentioning that as the development of new energy vehicles exceeded expectations, Guangzhou Automobile Group Co.Ltd(601238) adjusted the "14th five year plan", and the proportion of new energy vehicles in the whole group will increase from 20% to 25% in 2025 and 50% in 2030. In addition, Feng Xingya said that at present, all development work of GAC's electric vehicle replacement is progressing smoothly, Guangzhou Automobile Group Co.Ltd(601238) according to the comprehensive electric replacement layout, electric vehicle replacement will be launched successively from 2023, and electric vehicle replacement is required for all models.
