Before reading the financial report, we divided the net profit of 20 19 car companies. For example, it is divided into five grades: more than 65.438+0 billion, more than 5 billion, more than 65.438+0 billion, and less than 65.438+0 billion, and the net profit is negative, and then it enters the text.
★? It has exceeded10 billion and is still declining.
In 20 19, there were only two automobile groups whose net profit attributable to shareholders of listed companies exceeded 10 billion, namely SAIC and Dongfeng. This happens to be two state-owned enterprises, among which the share of joint venture brands is large enough, and independent brands are also striving to grow.
As of press time, SAIC has not officially released the 20 19 financial report data. Only in the year of 65438+ 10 this year, the annual performance of 20 19 is predicted. According to its announcement, the net profit attributable to shareholders of listed companies in SAIC 20 19 is estimated to be about 25.6 billion yuan, down about 28.9% year-on-year, ranking first in absolute value, but the decline also reached double digits.
In terms of performance, in 20 19, the total sales volume of SAIC vehicles was 6.238 million, down 1 1.54% year-on-year. Obviously, the decline in sales directly affected the company's net profit. In addition, as "profit cows" of SAIC, both SAIC Volkswagen and SAIC-GM have experienced different degrees of sales decline. In 20 19, the annual sales of SAIC-Volkswagen reached 2 million vehicles, down 3.07% year-on-year; SAIC-GM's annual sales totaled 6.5438+0.6 million vehicles, down 654.38+08.78% year-on-year.
As for the autonomous sector, the hematopoietic capacity is still insufficient. In 20 19, the annual sales volume of SAIC passenger cars was 673,000, down 4.08% year-on-year; SAIC-GM-Wuling (counted as an independent sector) sold 65,438+0,660,000 vehicles, a year-on-year decrease of 65,438+09.42%; SAIC Chase sold 65,438+053,000 vehicles in the whole year, up 265,438+0.36% year-on-year. Although bright, it is small in size and has little effect on the whole.
In addition, it should not be ignored that the 20 19 auto market continues to fluctuate, and various auto companies are facing the pressure of switching from one country to five countries and six countries, the subsidies for new energy vehicles are declining, the price war pressure in the terminal market is great, and the profit rate is further reduced.
Even if it is as big as SAIC, it can't reverse the problem of falling profits in a short time.
The other is Dongfeng Group. The financial report shows that 201010.87 million yuan, the revenue of Dongfeng Group decreased by 3.3% year-on-year, and the net profit attributable to the mother was128.58 million yuan, down by 0.93% year-on-year, which was better than most car companies.
In terms of sales volume, the annual sales volume of Dongfeng Group in 20 19 was 2.932 million vehicles, down 3.9% year-on-year. But passenger cars and commercial vehicles are "ice and fire". In 20 19, the sales volume of passenger cars was 2,463,600, down 5.7% year-on-year, and the sales volume of commercial vehicles was 468,300, up 6.3% year-on-year.
Therefore, Dongfeng Group also said that a large part of the revenue growth comes from the commercial vehicle sector.
If it is specific to the passenger car sector, in 20 19, the sales volume of joint venture passenger cars was 2140,000, down 4.0% year-on-year. Due to the decline of the legal system, the sales revenue of Shenlong Automobile and Renault Automobile dropped sharply, but with the rise of Japan, the sales of Dongfeng Nissan and Dongfeng Honda reached a new high.
In 20 19, the sales volume of self-owned passenger cars was 324,000, down 15.2% year-on-year. The autonomous matrix is big but not strong, which is a problem that Dongfeng Group has been encountering.
★? 5 billion struggle, each has its own merits.
If you make a list of net profits, Geely Automobile can rank third in China. The financial report shows that the annual revenue of Geely Automobile in 20 19 was 97.40 1 100 million yuan, down 9% year-on-year, and the net profit attributable to shareholders was 8,654.38+0.9 billion yuan, down 35% year-on-year.
In terms of sales volume, Geely has the ability to become the leader of its own brand. In 20 19, the cumulative sales volume of Geely Automobile was 6.5438+0.36 million (including Lexus brand), down 9.3% year-on-year. This decline is actually higher than the overall decline of the auto market.
Geely Automobile mentioned in the announcement that due to weak demand and fierce market competition, product pricing pressure has directly affected net profit.
It is worth noting that in the financial report, Geely mentioned that the cash flow performed well, with a further increase of 23% compared with the end of 2065.438+09 to 65.438+093 billion yuan, and promised not to lay off employees, reduce wages, delay the payment of employees' wages, and not lower the sales target of 654.38+046.5438+million vehicles set in early 2020.
Brilliance China 20 19 financial report data is quite interesting.
According to the report, the revenue of Brilliance China in 20 19 was 3.862 billion yuan, down by 1 1.77% year-on-year, but the net profit attributable to shareholders of the company was 6.762 billion yuan, up by 16 18% year-on-year, making it the only company whose profit exceeded its revenue.
As for the reason, many people can guess. The net profit of Brilliance China increased significantly in 20 19, mainly due to the profit sharing of BMW Brilliance. 20 19 is definitely a year for luxury brands to "eat spicy food".
Taking BMW Brilliance as an example, the annual sales volume was 545,900 vehicles, up by 654.38+076,5438+0% year-on-year, and the net profit reached 7.626 billion yuan, up by 22.65,438+0% year-on-year.
Excluding the profit contribution of BMW Brilliance, other business segments of Brilliance China lost 65.438+64 billion yuan in 2065.438+09, mainly due to the decrease in sales of light buses, MPVs and auto parts.
On March 3 1 day, Guangzhou Automobile Group released 20 19 financial report data.
According to the report, Guangzhou Automobile Group achieved revenue of 59.704 billion yuan in 20 19, down 65.438+07.5 1% year-on-year. The net profit attributable to shareholders of listed companies was 6.6 66. 18 billion yuan, down 39.3% year-on-year, and also exceeded 5 billion yuan.
In terms of sales volume, the total sales volume of Guangzhou Automobile Group in 20 19 was 2,062,200 vehicles, down 3.99% year-on-year. Among them, Guangqi Honda contributed 770,800 vehicles, up 4.0% year-on-year, and Guangqi Toyota contributed 682,000 vehicles, up 65,438+07.6% year-on-year. The combined sales of the two companies accounted for 70.5% of the total sales. As a self-owned brand, GAC Chuanqi sold 384,600 vehicles throughout the year, down 26.89% year-on-year, slightly frustrated.
The "profitable cow" comes from a joint venture brand, and it will find a breakthrough point in the field of new energy in the future, which is probably the current financial situation of Guangzhou Automobile Group.
★? More than 65.438+0 billion, the red line of survival.
Calculated, the net profit of each car company began to be less than 5 billion yuan.
The financial report shows that Great Wall Motor achieved revenue of 962. 1 1 billion yuan in 20 19, down by 3.04% compared with the same period of last year; The net profit attributable to shareholders of the parent company was 4.497 billion yuan, a year-on-year decrease of13.64%; The annual sales volume exceeded 6.5438+0.05 million vehicles, up 0.69% year-on-year.
It is noteworthy that Great Wall Motor's R&D expenses increased by more than half in 20 19, and its overseas performance began to exert its strength. In 20 19, its overseas market revenue was 5.522 billion yuan, up 66.6 1% year-on-year.
In the "going out" strategy, the layout of Great Wall Motor was determined.
Since last year, we have successively set up factories in Tula, Russia, acquired factories in Luo Yong, Thailand and Tarigon, India. Its pickup truck model is easier to open up foreign markets. The only pity is that due to the epidemic, the global automobile industry has stopped, and it is difficult for Great Wall Motor to be immune.
At present, the sales target of Great Wall Motor in 2020 has been reduced from1110,000 to 10.2 million.
The characteristics of BAIC are particularly distinctive, and it is also a listed car company that relies heavily on luxury brands.
The financial report shows that the revenue of Beijing Automobile increased by 65,438+04.95% year-on-year from RMB 2065,438+074.633 billion, and the net profit attributable to the parent company was RMB 4,083 million, down by 7.83% year-on-year. Among them, Beijing Benz achieved revenue of15565438+54 million yuan, a year-on-year increase of 14.58%. As long as you calculate the proportion, you can completely see the significance of Beijing Benz to Beijing Auto.
Independent directors of Beijing Automotive are also trying to find a direction. On 20 19, BAIC Sic Bo merged with BAIC new energy and began to launch Beijing brand. Pure electric vehicles are still the key business direction of Beijing Automobile, which is not only backed by huge potential market, but also supported by policies.
In 20 19, BYD realized operating income of12,773.9 billion yuan, a year-on-year decrease of1.78%; The net profit attributable to shareholders of listed companies was161200 million yuan, down 42.03% year-on-year, which was the largest decline among all mainstream car companies.
As for the reasons for the decline in net profit, BYD mentioned that industry, policy changes and rising R&D expenses all affected net profit. BYD is a company that pays special attention to the development of new energy. I have also received dividends from policy support before, and the subsidy has a great impact.
At present, the signal released by the policy is that the car subsidy and exemption from purchase tax will be extended for two years, which is definitely good news for BYD.
★ Who is making a small profit and who is losing money?
The listed car companies mentioned above have a net profit of more than 654.38+0 billion. There are also some car companies struggling on the edge of "meager profit" or "loss".
The impact of the cold winter on these car companies is almost fatal.
On March 25th, jiangling motors released the financial report for 20 19, with annual revenue of 2,965,438+74 million yuan, up 3.27% year-on-year, and net profit of 654,38+48 million yuan, up 60.96% year-on-year. Jiangling motors sold 290,000 vehicles, a year-on-year increase of 65,438+0.75%.
Among them, JMC series trucks are the main sales force, and Ford SUVs have also increased significantly, improving profitability. However, if we carefully study the net profit after deducting non-recurring gains and losses, it will be-308 million yuan in 20 19, which is further increased compared with-278 million yuan in 20 18.
JAC disclosed its financial report for 20 19 on March 8.
The data shows that JAC's revenue in 20 19 reached 47.286 billion yuan, down 5.60% year-on-year, and the net profit attributable to shareholders of listed companies was/kloc-0.06 million yuan, a loss of 786 million yuan compared with last year. Turning losses into profits this year, the performance has been quite good.
Jianghuai Automobile is characterized by "business is stronger than weakness". In 20 19, the total sales volume of various types of vehicles was 42 1200, of which narrow passenger cars accounted for 38.5%. As far as gross profit margin is concerned, Jianghuai Commercial Vehicle 13.59%, Bus 16.78% and Passenger Car only 3.52%. The commercial vehicle sector has become the main profit source of JAC.
On March 3rd1day, Haima Automobile announced its 20 19 annual financial report, achieving a revenue of 4.69 billion yuan, and a net profit attributable to shareholders of listed companies of 85 million yuan, unexpectedly turning losses into profits.
In fact, we also see a series of self-rescue measures in the hippocampus. For example, at the beginning of the year, I sold my property and "sold the house to save the factory". In addition, the equity of two subsidiaries was transferred, which increased the company's cash flow.
So which companies are obviously losing money? In 20 19, Lifan is expected to lose 49.81100 million yuan, and Zotye has lost 6-9 billion yuan. As of press time, the two companies have not officially released their annual financial reports.
Looking at the overall situation, car companies that take joint ventures or luxury brands as "profitable cows" can still get good returns; The main independent brands with the highest sales volume can also be self-reliant; A car company on the verge of bankruptcy may need to sell assets to make ends meet.
On the optimistic side, it is also a good thing to have elimination and screening.
The industry is hard, only hard work.
The author of this article is the Kicking Car Gang? Cao An
This article comes from car home, the author of the car manufacturer, and does not represent car home's position.