Beijing (ZXZC)- BAIC BluePark New Energy Technology Co., Ltd., ("BAIC BluePark"), the parent company of BAIC BJEV, on Jan. 30 released the forecast of its financial results for the year of 2022.

ARCFOX αS HI; photo credit: ARCFOX

According to the report, BAIC BluePark’s net loss attributable to shareholders is expected to be 5.2 billion yuan to 5.8 billion yuan ($770 million to $859 million) in 2022, versus the 5.24 billion yuan ($776 million) of net loss in the year 2021.

During the past year, BAIC BluePark’s net loss after non-recurring gains and losses should come in at around 5.6 billion yuan to 6.2 billion yuan ($829 million to $918 million). For comparison, the company’s net loss after non-recurring deductions stood at 5.54 billion yuan ($820 million) in the year-ago period.  

External factors like the price rise on upstream power battery raw materials extruded BAIC BluePark’s profitability, the company explained. In addition, the company's product sales were still holding a lot of unleashed potential, and the scale effect remained inconspicuous. At the same time, in order to enhance the automaker’s core competitiveness and market presence, BAIC BluePark persisted to invest in technology R&D and brand channel construction, all of which had an impact on the company's financial performance in 2022.