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original title: who is the strongest car company in china? comparison of the semi-annual reports of the top 15 players: saic has the best sales, byd has the most profit, and seres has the largest gross profit margin

in the first half of this year's lap race, who is falling behind? who is ahead?

as various automakers submitted their mid-term performance reports, the chinese auto market is extremely lively.

on the one hand, there is a "fierce competition" between the fuel market and the new energy market. on the other hand, with prices involuted, car companies are "squeezing out" their profits for fear of falling behind.

in order to more intuitively compare the performance of auto companies, smart car reference has compiled the following lists for reference based on key financial report indicators.

2024 semi-annual chinese automotive companies ranking

1. sales ranking

first, the most popularsales，saic motorit still ranks first, but has shown a downward trend;bydfollowing closely with a strong growth rate, the sales gap between the two is gradually narrowing.

chang'anranked third, it maintains its lead among traditional car companies.

in particular,seresthe cumulative sales of new energy vehicles reached 201,000 units, exceedingideal189,000 vehicles.

xiaomi motorscontaining only three months of sales, it shows a good sales momentum.

2. revenue ranking

in the first half of the year, except for saic and baic blue valley, all automobile companies achieved revenue growth.

however, the growth rates vary, and the rankings in the revenue list have changed significantly.

bydexceedsaicranked first,geely automobileranked among the top three.

seresrevenue soared nearly 5 times. in the first half of last year, it was ranked behind nio, but in the same period this year it jumped to 5th place.

gac grouprevenue increased, but the ranking declined significantly.idealas well asdongfengtranscend.

baic's new energybaic bluepark——the main body of arcfox saw a sharp decline in revenue and ranked last.

3. profit ranking

looking at net profit,bydit also topped the list and became the most profitable car company in the country in the first half of the year.

auspiciousandgreat wallthe net profit of each company doubled significantly, especially geely, whose net profit surpassed saic and ranked second.

idealit is the first new energy vehicle company to become profitable, but its net profit has declined;seresit became the second company after ideal to turn a profit in the first half of this year and rankedgacbefore.

other new forces are still making losses.niothe loss in half a year still exceeded 10 billion yuan, but this loss has begun to narrow.

onlybaic bluepark, and the losses are still expanding.

4. gross profit ranking

in the gross profit margin ranking,seresit is definitely the biggest highlight, with a gross profit margin of 25.04%, far ahead of the others.

great wallthe gross profit margin also grew strongly, surpassingbydbecome second.

idealmaintain a high level among the new forces,xiaomi motorsfollowing closely behind, all are higher than traditional joint venture automakers.

zero runthe gross profit margin is still relatively low, not exceeding 2%;baic blueparkthe gross profit margin has not yet turned positive.

5. cash reserve ranking

next, let’s see how much cash reserves each automaker has by the end of the first half of the year to cope with the second half.

saicas an old and strong enterprise with hundreds of billions of cash balance in its account, saic has full confidence.

idealranked second with 80.8 billion yuan,bydthe balance of cash and cash equivalents decreased significantly year-on-year, which is also related to byd's high r&d investment.

xiaomi auto’s cash reserves do not appear separately in xiaomi’s financial report and are therefore not reflected.

6. market capitalization list

△xiaomi motors has not yet been spun off and listed, so it is not included in the list.

finally, let’s compare the total market value of each automaker as of the first half of the year.

bydit ranks first with a total market value of 718.96 billion yuan.

among traditional automobile companies, dongfeng group is still in a relatively backward position.

looking behind the list at china's automotive industry

overallin the above list, domestic brands led by byd have grown against the trend and are still making money despite fierce competition; new forces are collectively growing at different speeds; and traditional companies such as saic and dongfeng, which mainly produce fuel vehicles and joint venture vehicles, have not yet escaped the pain of transformation and are still having a difficult time.

among the companies in the first half of the year, the most eye-catching competition for status was between byd and saic.

byd surpassed saic in revenue and net profit, taking first place in both categories. its sales volume is also rising steadily, and the sales gap between it and saic is further narrowing. according to the production and sales report trends in july and august, the largest automaker this year may change hands.

in addition, the independent private companies geely and great wall also made huge profits. geely's revenue exceeded 100 billion yuan for the first time, its net profit increased nearly 6 times, and its delivery volume doubled. geely also raised its sales target by 100,000 vehicles.

great wall's net profit also increased by 4 times, and its gross profit margin exceeded byd's at 20.74%. this is inseparable from great wall's adherence to long-termism in the internal competition, and also benefited from great wall's achievements in its overseas market layout.

at present, the penetration rate of new energy is rising rapidly.own brandthey were the first to seize the opportunity of the new energy transition, and now it is their turn to enjoy the dividends of the times.

in the same context, saic, dongfeng, changan and gacjoint venture car companiesas the market share of the profit cow that it once prided itself on has been continuously squeezed, sales volume is obviously shrinking, and revenue and profits are also affected to varying degrees.

in,gacit was the most affected. not only did its key financial indicators decline across the board, but its non-net profit turned from profit to loss. the sales of both its joint venture brands and its own brands declined.

saicsales have been declining in recent years, and sales in the first half of the year only achieved the target33.5%due to the sharp drop in saic-gm’s sales and revenue, saic group’s overall revenue and net profit also declined significantly.

and the cooperation with huaweichang'an, although also in pain, but withdark blue、avitathe transformation of independent brands such as suvs has achieved obvious results, with sales increasing year-on-year, making them the transformation role models among traditional state-owned automobile companies.

baic blueparkthe company suffered the biggest loss in the first half of the year. on the one hand, the sales of polar fox did not meet expectations. on the other hand, baic blue valley wanted to rely on theenjoy the worldit will take some time to exert force.

for these traditional joint venture automakers, transformation is the top priority. growing pains are indeed unavoidable. how to highlight their own characteristics amidst the growing pains is also a problem that needs to be faced in the second half of the competition.

in addition, there was a dark horse that stood out in the first half of the year:seres。

thanks to the cooperation with huawei,qjm9the sales volume of seres increased by 3 times year-on-year, and the financial report showed a new look.25.04%it topped the gross profit margin list with a level of , and its revenue soared nearly 5 times year-on-year.

the new forces in car manufacturing have grown collectively, but most of them have not yet turned their losses around. ideal was the first to achieve profitability, but its net profit also declined in the first half of the year.

it can be seen that "involution" is not necessary. simply compressing prices will not have much effect except harming peers and hurting oneself.

the second half of the competition, which has already begun, may be the key to changing the landscape of china's auto industry.

in a market where products and technologies are rapidly iterating, some car companies mayintelligenttechnology upgrades, or by seeking technologycooperate, or explore more new energy markets and achieve good results in the first half of the year.

whether this dividend can continue and what new ways of developing the automobile market will be found remain unknown.

but what is certain is that china’s old automobile pattern and old order have changed dramatically.