BAIC BluePark’s net profit jumps 25.54% year on year in 2019
Shanghai (ZXZC)- BAIC BluePark New Energy Technology Co.,Ltd. (BAIC BluePark), the parent company of BAIC's NEV unit BJEV, announced its full-year revenue in 2019 leapt 30.39% over a year ago to RMB23.589 billion, and the annual net profit jumped 25.54% year on year.
The net profit attributable to shareholders amounted to RMB92.01 million last year, yet the company still posted a net loss of RMB873.597 million excluding the influence of certain no-recurring gains and losses.
(EU5, photo source: BAIC BJEV)
The company said it sold roughly 150,600 vehicles in 2019, for the seven year in a row taking the championship in China by BEV sales volume. The BAIC EU5, an all-electric model equipped with the “Darwin” in-car AI system, was well received by consumers.
During the same period, BAIC BluePark pumps RMB1.545 billion into its R&D businesses, which accounted for 6.55% of the annual revenue. By the end of 2019, it had already applied for 4,644 patents in total, of which 2,740 had been authorized.
Its complete vehicle subsidiary BAIC BJEV have rolled out over 10 BEV models under such series as EU, EX and EC, widely covering the entry-level to premium kind.
(Photo source: BAIC Group's WeChat account)
On December 30, 2019, the first pre-production car under ARCFOX, a premium BEV brand of BAIC BJEV, officially rolled off the production line at the Zhenjiang plant co-founded by BAIC and Magna, signaling the completion of the joint manufacturing factory between the Chinese automaker and global automotive supplier.
The new model, coded-named N60, is expected for volume production in this year's second quarter, and the presale will kick off on April 22.
BAIC BluePark also enumerated some efforts on promoting cooperation with core suppliers, such as building technology and manufacturing joint ventures with Magna, setting up “1873 Davidson Innovation Laboratory” with Huawei, deepening collaboration with CATL in battery supply and R&D of power battery core technologies, and founding joint venture with DiDi to popularize its vehicles in ride-hailing area.