Byd Company Limited(002594) first quarter net profit exceeds 8 billion 23456 billion
On April 27, Byd Company Limited(002594) released the performance report for the first quarter of 2022. Last year, the company achieved an operating revenue of 66.825 billion yuan, a year-on-year increase of 63.02%; The net profit attributable to shareholders of listed companies was 808 million yuan, a year-on-year increase of 240.59% The main financial indicators of the first quarter are in line with the market expectations.
a financial review: Byd Company Limited(002594) the outstanding performance in the sales of new energy vehicles led to the improvement of profits in the first quarter of 2022 and hedged the pressure brought by the rise of upstream raw material prices to a certain extent. In March this year, the sales volume of Byd Company Limited(002594) new energy vehicles exceeded 100000 for the first time, with a year-on-year increase of 333.1%; In the first quarter, the cumulative sales volume exceeded 286000, with a year-on-year increase of 423% Byd Company Limited(002594) from March, the whole vehicle production of fuel vehicles will be officially stopped and will focus on pure electric and plug-in hybrid vehicles. Although the sales volume rose sharply, the rising cost of raw materials still led to the continuous decline of Byd Company Limited(002594) first quarter gross profit margin (12.4%).
Chongqing Changan Automobile Company Limited(000625) first quarter net profit growth 4.3 times
On April 28, Chongqing Changan Automobile Company Limited(000625) released the first quarterly report. During the reporting period, the company achieved an operating revenue of 34.576 billion yuan, a year-on-year increase of 7.96%; The net profit was 4.536 billion yuan, a year-on-year increase of 431.45%; The net profit deducted from non profits was 2.27 billion yuan, an increase of 215.24% year-on-year.
a financial review: when the net profit of multi vehicle enterprises declined year-on-year due to the sharp rise in the price of raw materials in the first quarter, Chongqing Changan Automobile Company Limited(000625) increased by more than 4.3 times, which was largely due to the large increase in non recurring profits and losses, Chongqing Changan Automobile Company Limited(000625) in the first quarter, the equity income of capital increase by introducing investors through its subsidiary avita reached 2.13 billion yuan. However, even after deducting the impact of non recurring profits and losses, the gross profit margin of Chongqing Changan Automobile Company Limited(000625) first quarter also increased to 18.21% from 16.64% last year, which is unique in the published first quarter report of automobile enterprises In the face of the pressure of continuous improvement in the supply of raw materials, the company has actively promoted the allocation of raw materials in the whole field, and strengthened the coordination in the face of the shortage of raw materials.
Volvo’s revenue in the first quarter increased by 8% year-on-year
On April 28, Volvo cars officially released its financial report for the first quarter of 2022. In the first quarter of this year, Volvo’s revenue reached 74.3 billion SEK, exceeding analysts’ expectations of 71.15 billion SEK, a year-on-year increase of 8%; The operating profit was SEK 6 billion, a year-on-year decline, but higher than the market expectation of SEK 4.13 billion, with an operating profit margin of 8.1%.
a financial review: despite the adverse impact caused by the situation in Russia and Ukraine and the epidemic blockade measures, Volvo’s performance in the first quarter was generally stable. Volvo sold 148300 cars in the first quarter of this year. Volvo said it was trying to mitigate the impact by raising the price of raw materials and rising logistics costs. Volvo expects that the supply chain problems will be improved in the second half of this year, and the annual sales volume in 2022 is expected to maintain the growth trend. It is worth mentioning that the effect of Volvo’s electrification transformation is beginning to show. The sales of recharge models accounted for 34% of the total sales in the first quarter, of which the sales of pure electric vehicles accounted for 8%, a record high.
2021 dealer profitability recovery in year
On April 28, J.D. Power released the 2022 China auto dealer satisfaction study. The study showed that in 2021, more than half (52%) of China’s dealers realized profits, the single store revenue of dealers increased from 154 million yuan in 2020 to 172 million yuan, with an average increase of 12%, and the average single store profit of dealers increased from 2.74 million yuan in 2020 to 3.78 million yuan, with an average increase of 38%.
Yicai comments: in 2021, China’s auto market began to recover from the adverse impact of the epidemic, and the sales of new cars rebounded. Driven by the increase of sales revenue of new cars, the income and profit of dealers increased sharply, but the progress of second-hand car business was slow, and the proportion of after-sales business decreased. It is reported that in 2021, dealers also showed the characteristics of the highest proportion of profitable dealers of luxury brands and the largest increase in the proportion of profitable dealers of independent brands. Among them, BMW ranked first in the satisfaction of dealers of luxury car brands, and Byd Company Limited(002594) and Dongfeng Honda ranked first in the mainstream car brands.
2022 boyue officially listed
On April 28, 2022 boyue was officially announced to be listed. The new car has launched two configurations, Zhixiang and Zhiya, with the prices of 102800 yuan and 112800 yuan respectively. The new car and boyue x form a “dual car layout”. The former meets the needs of users over the age of 35 and the latter meets the needs of users under the age of 35. Both cover the layout of Geely Automobile in the most mainstream compact SUV market of 1 Ping An Bank Co.Ltd(000001) 50000 yuan.
Yicai comments: in the most competitive compact SUV market, the independent brands with the highest sales volume basically adopt the family style “two car strategy”, in addition to Geely’s boyue family, Changan’s cs75 family and Harvard’s H6 family. Boyue has always been the best-selling SUV product series of Geely Automobile. In the six years since its launch, Geely boyue has sold well in 30 countries around the world, such as Europe, Asia and the Americas, with a global sales volume of 1.3 million. In the first quarter of this year, the cumulative sales of boyue also reached 35500, with an average monthly sales volume of more than 10000.
