baic blue valley: subsidiary baic new energy plans to introduce no more than 10 billion yuan of strategic investment to increase capital
2024-09-03
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beijing new energy automobile co., ltd. (hereinafter referred to as "baic new energy"), a subsidiary of baic bluepark new energy technology co., ltd. (baic bluepark, 600733), plans to publicly list and introduce strategic investors, with the capital increase not exceeding 10 billion yuan.
on the evening of september 2, baic bluepark announced that in order to meet the business development needs of its subsidiaries and optimize its capital structure, baic bluepark's wholly-owned subsidiary beijing new energy plans to increase capital and expand shares by introducing strategic investors through public listing. the capital increase price will not be lower than the registered valuation results, and the amount of capital increase will not exceed 10 billion yuan.
on the same day, baic blue valley released the "announcement on shareholders' capital increase to subsidiaries and related transactions", stating that baic blue valley's shareholder beijing automotive co., ltd. (hereinafter referred to as "baic motor") intends to increase capital by 2 billion yuan to baic new energy. the controlling shareholders of baic blue valley and baic motor are both beijing automotive group co., ltd. (hereinafter referred to as "baic group"). the subscription price of baic motor this time is the net asset value per share assessment result filed with the state-owned assets supervision and administration department or its authorized unit, which is approximately 2.3815 yuan per share.
baic bluepark emphasized that after the successful implementation of this capital increase, the company will still be the controlling shareholder of baic new energy.
the valuation of baic new energy is 25.716 billion yuan. the announcement stated that under the assumption of going concern on the valuation base date, after market valuation, the value of all equity of beijing new energy shareholders was 25.716 billion yuan, an increase of 18.877 billion yuan compared with the equity of 6.839 billion yuan attributable to the parent company, with an appreciation rate of 276.03%.
according to the announcement, baic new energy is a limited liability company invested and established by baic group on october 23, 2009. its business scope includes the production of electric passenger cars, hybrid vehicles, new energy vehicles, etc. its parent company is baic bluepark new energy technology co., ltd., and its ultimate controller is the state-owned assets supervision and administration commission of the beijing municipal people's government.
baic bluepark is a listed company controlled by beijing automotive group co., ltd. on september 27, 2018, baic bluepark became the first domestic new energy vehicle stock through a major asset reorganization. baic bluepark's business scope includes automobile manufacturing, automobile services, automobile finance and other fields, and baic new energy is a sector focusing on the research and development and manufacturing of new energy vehicles, and is also the core subsidiary of baic bluepark.
currently, in terms of equity, baic bluepark directly holds 99.99% of the equity of baic new energy, and holds 0.01% of the equity of baic new energy through beijing bluepark polar fox automotive technology co., ltd., and together holds 100% of the equity of baic new energy.
in terms of finance, baic new energy achieved revenue of 15.186 billion yuan and a net loss of 2.184 billion yuan in 2023; in the first half of this year, it achieved revenue of 4.527 billion yuan and a net loss of 1.124 billion yuan (the above data are all "consolidated").
baic new energy financial indicators (consolidated)
on august 26, the semi-annual report disclosed by baic bluepark showed that the company achieved operating income of 3.741 billion yuan in the first half of 2024, a year-on-year decrease of 35.16%; the net profit attributable to shareholders of the listed company was -2.571 billion yuan, compared with -1.979 billion yuan in the same period last year, and the loss expanded year-on-year.
regarding the performance loss, baic bluepark stated that on the one hand, it was due to the increasingly fierce competition in the new energy vehicle market and the increasingly fierce price war, which squeezed the profit margin; on the other hand, in order to continuously promote the high-end development of its products, the company continued to invest in technology research and development, brand channel construction, brand image sharpening, and operational efficiency improvement, which had a certain impact on the company's short-term performance.
in fact, baic blue valley's losses are not temporary. from 2020 to 2023, baic blue valley lost 6.482 billion yuan, 5.244 billion yuan, 5.465 billion yuan and 5.4 billion yuan respectively. the cumulative losses in the past four years have exceeded 22.3 billion yuan.
the production and sales report shows that in july this year, baic bluepark sold a total of 11,000 vehicles, a significant increase from 3,359 vehicles last year; cumulative sales from january to july were 38,600 vehicles, a year-on-year increase of 1.15%.
according to dazhihui vip, as of the close of september 2, baic bluepark fell 1.49% to close at 6.61 yuan per share.
the paper reporter wu yuli
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