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changan is very strong this year!

changan automobile is a well-established central enterprise based in chongqing. its series of actions show the dancing side of the elephant: new energydark blue avitaemerging as a new force, taking the lead in intelligencehuaweishows a strong combination effect.

after the semi-annual report was released, this transformation momentum was further demonstrated: from january to june this year, changan automobile delivered1.334 million vehicles, a year-on-year increase of 9.7%, setting a new record for delivery volume in seven years; operating income in the first half of the year76.723 billion yuan, a year-on-year increase of 17.15%.

however, it is not without the pain of transformation - high sales and high revenue did not bring high returns, and the net profit attributable to the parent company fell to 2.832 billion yuan, a year-on-year decrease.63%; gross profit margin continued to be sluggish, falling to 13.8%.

however, no matter what, changan has firmly established itself as the number one model in the new energy transformation of central enterprises.

changan semi-annual report: total delivery volume hits a seven-year high

the financial report submitted by changan can be viewed from the following aspects:

first issalesin the first half of this year, changan automobiledeliver1.334 million new cars were sold, a year-on-year increase of 9.7%, with an average of 1.334 million cars sold per day.7422 vehicles, half-year deliveries hit a seven-year high.

among them, changan automobileown brandsales volume was 1.121 million units, up 9.88% year-on-year, accounting for 2.3% of changan automobile’s total sales volume.84%。

among the independent brands,new energy vehiclesa total of 299,000 vehicles were delivered in the first half of the year, a year-on-year increase69.87%；overseas marketssales volume was 203,000 vehicles, a year-on-year increase of 74.9%.

it can be seen that changan’s new energy layout is accelerating. the new energy strategy they released in 2017 is “shangri-la project", which is also being gradually achieved, now there is only one important goal left, which is:

by 2025, the sale of traditional fuel vehicles will be completely discontinued, and the entire product spectrum will be electrified.

followed byrevenuein the first half of this year, changan automobileoperating incomethe average income of a bicycle increased from 54,000 yuan in the same period last year to 76.723 billion yuan, a year-on-year increase of 17.15%.58,000 yuan。

existprofitabilityin terms ofincreased revenue but no increased profits”, first half of the yearnet profit attributable to parent company2.83 billion yuan, a sharp drop compared to the same period last year63%。

the profit from each car sold has increased from the first half of last year.6322 yuan, reduced to2121 yuan。

in this regard, changan explained that the main reason was that it acquired deep blue automobile in 2023 and remeasured its original equity at fair value to recognize non-recurring gains and losses of 5.02 billion yuan.

in other words, the value of the shares held by changan is different from what was previously recorded in the account books. according to the recalculation method, the current value of these shares has changed by 5.02 billion yuan compared to the original record.

in addition, changan's own branddark blueandavita, is still in a loss-making state, with losses of742 million yuanand1.395 billion yuan, which also lowered changan automobile's overall profit.

however, the net losses of both companies have gradually narrowed, with the losses reduced by more than 300 million yuan compared with the same period last year.

deng chenghao, vice president of changan automobile and general manager of deepblue auto, previously revealed that if (deepblue auto) sells more than 30,000 vehicles per month, it can achieve profitability.

another reason is the fierce competition in the domestic automobile industry.price war, net profit was further compressed through measures such as price cuts.

gross profit marginit also began to decline, from 16.34% in the same period last year to 13.8%.

finally, let's take a lookcash reservesin the first half of this year, changan's net cash and cash equivalents increased by 5.62 billion yuan. by the end of the first half of the year, the balance of cash and cash equivalents reached 69.55 billion yuan, and its cash reserves were very sufficient.

changan is becoming a model for the transformation of central enterprises

changan automobile has developed to date.160 yearsthe history of the shanghai marine artillery bureau can be traced back to 1862 when li hongzhang founded it.

in the 1980s, the company cooperated with suzuki, ford and other automakers to trial-produce microvans, marking its first automotive venture.

in 2006, changan started its second business and enteredpassenger car market, and subsequently seized the opportunity of the golden period of domestic suv development and achieved substantial sales growth.

however, since 2017, the domestic passenger car market has cooled, and changan's sales have also declined. joint venture car brands have weak sales due to technical reasons, and domestic brands have not performed very well. changan's development has been deadlocked for a time.

as a result, the third entrepreneurial journey started, and changan began to transform towards smart, green and sustainable development, and made corresponding plans in the three aspects of new energy, intelligence and globalization.

in fact, traditional car companies including faw and dongfeng can no longer adapt well to the development trend of the current automobile market with their previous joint venture car sales route.

if you want to live a good life, you must transform.

facts have proved that changan’s choice to start a business for the third time was the right one.

according to the new energy "shangri-la plan", changan automobile has completed the construction of three major new energy platforms.

car sales have also been growing year by year. in the first half of this year, changan automobile's sales reached 1.334 million units, setting a seven-year record high.

new energy vehiclesa total of 299,000 vehicles were delivered in the first half of the year, a year-on-year increase69.87%, the penetration rate of new energy reached 22.4%.

changan's new energy transformation mainly relies on the "three horses": qiyuan, deep blue, and avita.

released in the first half of the yearoriginsales volume reached 73,000 units, of which 15,171 units were sold in june, a month-on-month increase of 12%.

the subsidiarydeep blue carin the first half of the year, the company sold a total of 84,000 vehicles. especially in the just-released august sales ranking, deep blue auto’s monthly sales exceeded 20,000 vehicles for the first time, a month-on-month increase of 20.4%.

high-end brandsavita21,000 vehicles were delivered in the first half of the year. although the sales volume was not as high as the first two brands, it was a significant increase compared to the 27,000 vehicles delivered in the whole of last year.

if you want to accelerate in the transformation race, you need to have more legs to run faster.

on the one hand, changan chose to independently develop new technologies, such as the global all-domain and all-scenario power solution - the new blue whale power technology, which can generate 3.63 kwh of electricity from one liter of oil. a power system can freely select and lock the plug-in hybrid and extended-range dual-mode functions with one button.

there is also the country's first regional control + central computing architecture sda, which solves the problem that traditional automobile functions cannot be integrated, and realizes the integration of electrification, networking, and intelligence. it has been first mass-produced on the qiyuan e07 model.

on the other hand, changan chose to cooperate again, but this time it washuawei。

as early as 2018, changan signed a strategic cooperation agreement with huawei, and in 2021, the two companies collaborated with catl to jointly create avita technology.

in august 2023, deepblue, as a subsidiary of changan, signed a cooperation framework agreement with huawei. after that, huawei qiankun intelligent driving was installed in changandark blue s07。

in august this year, avita purchasedprominent10% of the shares, becoming the second largest shareholder of yinwang.

the multiple fronts demonstrate changan's determination in transforming to new energy.

however, in march this year, zhang yuzhuo, director of the state-owned assets supervision and administration commission of the state council, said that state-owned automobile companies are not developing new energy vehicles fast enough.

in response to this, the sasac will adjust its policies and conduct separate assessments of the new energy vehicle business of three central automobile companies (including dongfeng, changan, etc.).

according to the financial reports for the first half of the year, dongfeng and baic are still in the pain of transformation.

dongfengin the first half of the year, 966,000 vehicles were sold, of which 380,000 were new energy vehicles, and the penetration rate of new energy vehicles reached39.3; revenue was 51.15 billion yuan, a year-on-year increase of 12%, but its net profit was only684 million yuan, a significant decrease year-on-year47.95%。

baic's new energy-focusedbaic blue valley, revenue in the first half of the year was 3.47 billion yuan, down 35.16% year-on-year, ushering in2.571 billion yuanofthe biggest loss in history。

in this comparison, changan has undoubtedly become a model of transformation among state-owned enterprise car manufacturers.

moreover, changan automobile not only leads in terms of quantity, but also has remarkable quality. both the deep blue brand and the avita brand have demonstrated product strength, market competitiveness and brand appeal.

the only thing left to compete and strengthen is intelligent capabilities.