Since Anhui Jianghuai Automobile Group Corp.Ltd(600418) released the sales volume data of the first quarter on April 8, Anhui Jianghuai Automobile Group Corp.Ltd(600418) issued the announcement of performance loss in the first quarter of Anhui Jianghuai Automobile Group Corp.Ltd(600418) 2022 (hereinafter referred to as the announcement) on April 15. The announcement said: affected by the epidemic and chip shortage, the company sold 129400 cars and chassis from January to March 2022, a year-on-year decrease of 11.67%. At the same time, the price rise of chips, batteries and other raw materials led to the rise of input costs. The gross profit of main business from January to March decreased by about 418 million yuan compared with the same period of last year, and the net profit attributable to shareholders of listed companies is expected to lose about 307 million yuan.
From the above announcement, the sales volume decreased year-on-year, the profit turned from profit to loss, and Anhui Jianghuai Automobile Group Corp.Ltd(600418) performance suffered a lot of pressure. However, since 2022, Anhui Jianghuai Automobile Group Corp.Ltd(600418) is not the only car company under pressure?
Recently, China Automobile Industry Association (hereinafter referred to as “China Automobile Association”) released the national automobile production and sales data in the first quarter of 2022. From January to March this year, the national automobile production and sales were 6.484 million and 6.599 million, with a year-on-year increase of 2.0% and 0.2%, down 6.8 and 7.3 percentage points respectively from the previous two months. It can be seen from the above data that although the automobile production and sales had a good start at the beginning of the year, the growth rate was significantly lower than that of the same period last year.
The “lack of core” crisis lasting for nearly two years has not completely subsided. The rapid rise in the prices of bulk commodities such as power battery raw materials has plunged the global automobile industry into a trough. Due to the sharp rise in production and manufacturing costs, since 2022, many automobile enterprises have successively raised the sales pricing of products. In addition, due to the recent frequent outbreak of the epidemic in China, the difficulties of market players have increased significantly, the smooth economic cycle has encountered some constraints, the new downward pressure has further increased, and the automobile industry has also shown a pressure situation that can not be ignored.
According to public information, as of mid April 2022, a total of 28 auto enterprises have announced price increases this year. Before April, the price increases were mainly new energy vehicles, but since April, three car companies have raised the price of fuel vehicles. Among them, Anhui Jianghuai Automobile Group Corp.Ltd(600418) announced on March 21 that due to the continuous sharp rise in raw material prices, the official guidance price of its e10x flower fairy will be increased from March 22.
In terms of sales volume data, in the first quarter, Anhui Jianghuai Automobile Group Corp.Ltd(600418) sold 129400 vehicles, down 11.67% year-on-year, lower than the overall level of the industry, but the commercial vehicle business, which accounts for half of Anhui Jianghuai Automobile Group Corp.Ltd(600418) sales, sold 64400 vehicles in the first quarter, down 26.69% year-on-year, while China’s commercial vehicle sold 965000 vehicles in the first quarter, accounting for less than 20% of China’s total sales in the first quarter, but down 31.7% year-on-year.
It can be seen that although the sales volume of Jianghuai commercial vehicles is better than that of the industry, the product structure with the proportion of commercial vehicles far exceeding the average level of the industry puts Anhui Jianghuai Automobile Group Corp.Ltd(600418) also under greater pressure, and the decline in performance seems to be a “reasonable” thing.
As the biggest highlight of Anhui Jianghuai Automobile Group Corp.Ltd(600418) first quarter, new energy vehicles have become the biggest highlight of the automotive industry. Xu Haidong, deputy chief engineer of China Automobile Association and Minister of industrial research department, said that the development of new energy vehicle market has shifted from policy driven to market driven new development stage, showing a good development situation of double improvement of market scale and development quality.
In the field of new energy vehicles, Anhui Jianghuai Automobile Group Corp.Ltd(600418) has launched a new pure electric passenger car, Sihao aipao, which is equipped with the world’s first Huawei 77g front millimeter wave radar. Next, Anhui Jianghuai Automobile Group Corp.Ltd(600418) will adhere to the strategy of focusing on the development of intelligent vehicles and intelligent new energy vehicles, and launch a new special platform for new energy vehicles and more than 10 high-end intelligent new energy products. I believe that with the support of “new” products and “new” technologies, Anhui Jianghuai Automobile Group Corp.Ltd(600418) can bring us some surprises in the next time.
