many car companies continue to work hard on new energy. what happened in the car market in the past week?
2024-09-02
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kirin batteries were photographed at the catl booth at the chengdu auto show on august 30. photo/xinhua news agency
the xiaopeng huitian flying car traveler x2 was photographed at the chengdu auto show on august 30.
car talk of the week
our reporter hu xiong reports from changsha
what major events have taken place in the chinese auto market in the past week? the national energy administration said that 95% of highway service areas are now equipped with charging capabilities; various automakers have released their semi-annual reports, with new energy being the focus; the 27th chengdu international auto show was launched, with many new cars unveiled...
more than one-third of provinces have expanded charging facilities to all towns and villages
on august 29, wan jinsong, deputy director of the national energy administration, announced that by the end of july 2024, the total number of charging facilities nationwide had reached 10.6 million, providing charging services for more than 25 million new energy vehicles.
currently, 95% of expressway service areas have charging capabilities, building an inter-city charging network of "10 vertical, 10 horizontal and two rings". in addition, more than one-third of provinces have expanded charging facilities to all towns.
today, the penetration rate of new energy vehicles has exceeded 50%, and the surge in new vehicles has brought about an expansion of charging demand. i believe everyone has also noticed that the problem of charging difficulties that was often mentioned in previous years no longer appears as new energy vehicles are becoming more and more common. in fact, as new energy vehicles become more and more common, the construction of charging networks has been promoted.
many automakers announced their semi-annual reports
on august 29, many automobile companies released their 2024 semi-annual reports.
in the first half of 2024, saic motor achieved a wholesale sales of 1.827 million vehicles and terminal delivery of 2.115 million vehicles, continuing to maintain its leading position in the domestic industry. among them, saic's terminal delivery of new energy vehicles reached 524,000 vehicles, a year-on-year increase of 29.9%, ranking second among chinese automakers; terminal delivery in overseas markets reached 548,000 vehicles, a year-on-year increase of 12.7%, continuing to lead the industry. during the reporting period, the company achieved a consolidated total operating income of 284.69 billion yuan and a net profit attributable to shareholders of listed companies of 6.63 billion yuan.
in the first half of 2024, great wall motors achieved operating income of 91.429 billion yuan, a year-on-year increase of 30.67%; net profit of 7.079 billion yuan, a year-on-year increase of 419.99%; basic earnings per share of 0.83 yuan. during the reporting period, the company achieved overseas sales growth and further optimized domestic product structure, driving a significant year-on-year increase in net profit.
dongfeng motor's revenue in the first half of the year was 51.15 billion yuan, a year-on-year increase of about 12.1%, with a gross profit margin of 11.6% and a net profit of 684 million yuan. the sales volume was about 966,100 vehicles, a year-on-year increase of about 2.2%.
several automakers that released their semi-annual reports were all leaders in the era of traditional fuel vehicles. it is not difficult to see that their growth rates have been squeezed by new energy vehicles compared to a few years ago. however, these automakers have continued to work hard on new energy. at the same time, it can be seen from these automakers that the pace of chinese automakers going overseas is also accelerating.
more than 1,600 vehicles on display at chengdu auto show
on august 30, the first a-class auto show in china in the second half of the year, the 2024 (27th) chengdu auto show, with the theme of "chengdu city in motion, smart future", officially opened. 130 chinese and foreign auto companies participated in the exhibition, with more than 1,600 vehicles on display, and the overall exhibition area was about 220,000 square meters.
at the largest auto show in the southwest region, many brands brought their new cars to debut. byd will exhibit in a special pavilion for the first time, and will display mpv models such as xia and haibao 06gt. zhijie r7 will make its first real car appearance; avita 07 will make its global debut. in addition, catl will participate in the chengdu international auto show for the first time.
unlike this year's major auto shows, the chengdu auto show seems to have "fewer" voices. unlike the beijing auto show, various executive "ips" were flying around. of course, one of the reasons is that executive ips are no longer as "explosive" as they were when they first appeared. on the other hand, today's automakers no longer announce all the information about new cars at auto shows. even the new cars that debuted at this auto show had actually been preheated for several months, and they also lacked a "sense of surprise".
china grand auto terminates listing and delists
on august 28, guanghui auto was officially delisted from the stock market, with a market value of only 6.471 billion yuan on the day of delisting. guanghui auto has repeatedly stated in its financial reports that the "price war" has had a profound impact on the automobile dealership industry, and guanghui auto is under pressure again. in 2023, under the main contradiction of excessive capacity release and relatively insufficient demand in the automobile industry, the imbalance between market supply and demand triggered a "price war", and the automobile dealership industry continued to adjust under the dual pressure of accelerated product changes and intensified market competition to adapt to market changes. the "price war" has further compressed the profit margins of dealers, and the financial and operational pressures have increased, leading to increased operating pressure and risks.
founded in 1999, guanghui auto went public on the a-share market in 2015 through a backdoor listing of merro pharmaceuticals. in 2011, guanghui auto's sales exceeded pangda group, becoming the country's top passenger car dealer in terms of sales, and has been at the top of the "china's top 100 auto dealer groups ranking" released by the china automobile dealers association for the next 13 years. since then, guanghui auto has launched industry mergers and acquisitions one after another. in the three years since its backdoor listing, guanghui auto's operating income has been approximately 93.7 billion yuan, 135.422 billion yuan, and 160.712 billion yuan, respectively, making it one of the 100 billion yuan companies. in 2023, guanghui auto's revenue will still exceed 130 billion yuan.
although guanghui auto stated in its financial report that it was greatly affected by the "price war", in fact, guanghui auto was under pressure in its operations a few years ago. rapidly expanding dealer groups are an advantage in the era of rapid growth in the auto market, but as competition in the auto market intensifies, large dealer groups that hold a large number of brands do not necessarily hold resources, and some brands have become "hot potatoes".
byd and huawei cooperate
on august 27, byd fangchengbao announced that byd fangchengbao and huawei signed an intelligent driving cooperation agreement in shenzhen. this cooperation is based on the strategic cooperation between the two groups and is aimed at in-depth joint research and development of intelligent driving for byd fangchengbao cars. the first product focuses on the fangchengbao bao 8 model that will be launched soon, equipped with huawei qiankun intelligent driving ads3.0.
according to previously disclosed information, the teams of both parties have established the project and carried out r&d and verification for a long time. it is expected that after q3 of this year, leopard 8 will be officially launched on the market equipped with huawei qiankun intelligent driving ads3.0.
fangcheng baobao 8 is the second product of byd's sub-brand fangcheng bao. it is positioned as a super hybrid smart hard-core suv. it will be based on the 2.0tdmo super hybrid off-road platform and the full-function version of yunnian-p intelligent hydraulic body control system, integrating the latest huawei qiankun intelligent driving ads3.0.
interestingly, this is also a strong alliance between two shenzhen companies. huawei, as the leading company in the current intelligent driving field, has joined forces with byd, a leading company in new energy vehicles, and has also given the auto market a new cooperation paradigm. moreover, the cooperation between the two companies is not only a strong cooperation, but also a complementary one.
seres' 11.5 billion yuan investment in huawei attracts attention
on august 25, seres announced that seres automotive, a wholly-owned subsidiary of the listed company, intends to purchase 10% of the equity of shenzhen yinwang intelligent technology co., ltd. held by huawei technologies by paying cash. the target company intends to carry out substantial loading according to the loading plan and principles determined by both parties before the transfer price of this transaction is paid. after the loading is completed, shenzhen yinwang will take over huawei's original core business of intelligent vehicle solutions. in this transaction, the total price of 10% of the target company's equity is 11.5 billion yuan.
with the investment of major huawei-affiliated new energy vehicle companies such as seres and avita, huawei yinwang, a company that was "turned around" from huawei's automotive bu, has also ushered in a valuation of over 100 billion yuan.
although huawei has always stated that it "does not manufacture cars" and is only a supplier that empowers car companies, its strong brand appeal and ability to manufacture cars at any time will also make partners nervous and afraid of "losing their souls". however, by loading the ability to manufacture cars within a company and opening it up to car companies to join, more partners no longer have to worry, especially small car companies like seres.
