On April 28, China Grand Automotive Services Group Co.Ltd(600297) ( China Grand Automotive Services Group Co.Ltd(600297) . SH) disclosed the annual report of 2021 and the first quarterly report of 2022. The report showed that the company achieved operating revenue of 158437 billion yuan in 2021, the same as that of the previous year; The net profit attributable to the parent company was 1.609 billion yuan, a year-on-year increase of 6.12%. Meanwhile, the company’s revenue in the first quarter of this year was 35.139 billion yuan; The net profit attributable to the parent company was 667 million yuan, a year-on-year increase of 2.38%.
In the face of repeated epidemics, shortage of automotive chip supply and other adverse factors, on the one hand, the company actively promotes the digital transformation strategy and strives to provide customers with high-quality and diversified services; On the other hand, adhere to “promoting reform, adjusting structure and reducing liabilities”, timely adjust business ideas, pay close attention to the three main lines of “improving operating gross profit, improving the turnover efficiency of operating assets and adjusting and optimizing brand structure”, and go all out to ensure the smooth operation of the enterprise. Considering the , and 35.
automobile industry has obvious recovery characteristics
China Grand Automotive Services Group Co.Ltd(600297) new energy market layout steadily
According to the data disclosed by China Automobile Association, China’s automobile production and sales in 2021 were 26.082 million and 26.275 million, with a year-on-year increase of 3.4% and 3.8% respectively, ending the downward trend for three consecutive years since 2018. It can be said that at present, the automobile industry is showing a warming trend at the bottom, and with the gradual easing of chip supply, the backlog of consumption is expected to be gradually released in 2022.
At the same time, the Automobile Association of China estimates that the total sales volume of automobiles in China will be 27.5 million in 2022, with a year-on-year increase of 5.4%, of which the sales volume of new energy vehicles will be 5 million, with a year-on-year increase of 47%. Considering that China Grand Automotive Services Group Co.Ltd(600297) plans to increase the proportion of sales volume of new energy vehicles in the next few years, it is obvious that the development of new energy vehicle industry will greatly improve the company’s business.
The annual report shows that in 2021, the company continued to make efforts in the field of new energy vehicle sales and services. In April 2021, the company established a new energy business department, established a new energy network development team, actively expanded various internal and external resources, and made every effort to obtain the authorization of the main engine factory; By the end of 2021, the company had established close contact and communication mechanisms with more than 20 new energy brands and established authorized communication with BAIC Jihu, great wall, Thalis, Xiaopeng, lantu and other brands, including 5 authorized by Great Wall Euler and 4 authorized by Thalis this year. While striving for brand authorization, it coordinates all brands in all regions to comprehensively sort out the company’s weak brands, stores and business district resources, providing candidate site resource guarantee for the implementation of brand authorization.
brand rich and channel spread all over the country
steadily promote digital transformation
According to the annual report, by the end of the reporting period, the company had nearly 50 passenger car brands of different grades, from Ultra Luxury, luxury to medium and high-end, and 786 distribution outlets, covering 28 provinces, autonomous regions and municipalities directly under the central government, making the company have 14.65 million base customers.
With the advantages of extensive network layout and rich brand resources, the company is also actively promoting digital transformation and making great efforts to build a “customer pool, product pool and service pool”.
In terms of specific measures, China Grand Automotive Services Group Co.Ltd(600297) set up the data operation technology platform Huili Automotive Technology (Shanghai) Co., Ltd. in January 2021, laying a solid foundation for “digital operation”; Develop the enterprise wechat platform to realize the pre-sales and after-sales office mobility and online business process. By the end of 2021, the enterprise wechat platform has accumulated Shanghai Pudong Development Bank Co.Ltd(600000) customers. Through the “Guanghui car life” wechat official account and small programs, it has not only enriched the “product pool and service pool”, but also increased the online drainage and liquidity. Moreover, the “digital worry free card” and other innovative projects have combined the high-frequency life rights with the daily car service rights, It also promotes the online and digital operation of customers.
In addition, in April 2021, the company also reached a strategic cooperation with Ping An Group to jointly build a different industry alliance, explore in the construction of digital 4S stores, expanding sales leads, potential customer mining and customer protection activation, financial stores and other aspects, strive to provide customers with high-quality and diversified services, and build a brand of ” China Grand Automotive Services Group Co.Ltd(600297) service”.
2021 the number of maintenance vehicles entering the site increased by 4.46%
automotive aftermarket promising
According to Deloitte’s prediction, China’s car ownership will reach 241 million, and the car stock is expected to rank first in the world in the next five years. It can be seen that the steady growth of car ownership and the aging structure of car age have laid a good foundation for the medium and long-term development of China’s auto aftermarket. According to Founder Securities Co.Ltd(601901) calculation, if the average annual maintenance cost of a single car is 4000 yuan, the current capacity of China’s auto aftersales maintenance market is expected to exceed trillion.
Relying on the broad development space of the industry, the company, as a leading enterprise in the automotive aftermarket, is expected to benefit significantly.
The annual report shows that in terms of after-sales business, the company carries out “one-stop services” such as online reservation, door-to-door vehicle collection and return after repair, and staggers the service time of customers’ after-sales and maintenance, so as to reduce customers’ waiting time, and regularly communicate and remind customers according to customers’ driving habits and historical data analysis of maintenance frequency, so as to comprehensively ensure the punctuality and accuracy of customer service. In 2021, the company achieved 7.5368 million maintenance mobilization units, a year-on-year increase of 4.46%. In addition, the company actively responded to the new national policy in the second-hand car business and continued to strengthen the exploration of innovative business on the basis of stabilizing the original business. In 2021, the company achieved 213000 second-hand car trading services.
In 2022, China Grand Automotive Services Group Co.Ltd(600297) will continue to firmly promote the management reform, improve the independent combat ability of stores, continue to pay close attention to the main business, accelerate the layout of incremental markets such as new energy and used cars, constantly enrich the service content, and strive to build a customer pool, product pool and service pool to achieve healthy and sustainable development.
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