On October 30, BAIC bluevale released the third quarter report of 2019. According to the financial report, the company's operating revenue in the third quarter of 2019 was 7.564 billion yuan, a year-on-year increase of 81.34%. In the first three quarters, the total revenue was 17.484 billion yuan, a year-on-year increase of 78.6%. However, the net profit turned from profit to loss. From January to September this year, the company lost 270 million yuan, a year-on-year decrease of 304% compared with the net profit of 133 million yuan last year.
For the significant growth of total revenue in the first three quarters, BAIC bluevale said that it was mainly due to the increase of sales volume and the adjustment of product structure.
Sales data shows that the cumulative sales volume of BAIC new energy from January to September was 98382, up 20.45% year on year. The cumulative sales volume of BAIC new energy EU Series in the first three quarters was 74299 units, a year-on-year increase of 484.5%.
Among them, the cumulative sales volume of EU5 model in the first three quarters reached 67750, accounting for about 83% of the overall sales volume of BAIC new energy.
On October 15, BAIC new energy officially released the new brand Beijing, and on the same day Beijing eu7 was officially launched. Eu7 refers to the middle and high end, or will further improve the sales volume of EU Series.
BAIC bluevale said it expected that the company's accumulated net profit from the beginning of the year to the end of the next reporting period would have a loss due to the large decline of new energy vehicle promotion subsidies.
In addition, we found that the inventory volume of BAIC new energy in the first three quarters increased by 807.77% year-on-year, which is still a challenge for automobile sales this year.