BAIC Blue Valley's 2024 First Half Forecast Net Loss and Updates

TapTechNews July 9th news, BAIC Blue Valley issued an announcement that the company expects the net profit attributable to shareholders of the listed company in the first half of 2024 to be -2.7 billion yuan to -2.4 billion yuan. The net profit in the same period of the previous year was -198 million yuan. The main reason for the loss is the fierce competition in the new energy vehicle market and the company's continuous investment in technological research and development and brand building.

According to the previous report of TapTechNews, the sales volume of new energy vehicles of BAIC Blue Valley's subsidiary Beijing New Energy Automobile Co., Ltd. reached 9,574 units in June, a year-on-year decrease of 14.70%; the cumulative 28,011 units in the first half of this year, a cumulative decrease of 20.40%.

The production volume of Beijing New Energy Automobile was 7,169 units in June, with a year-on-year increase of 373.83%; the cumulative 18,400 units in the current year, with a cumulative increase of 286.96%.

In addition, BAIC Blue Valley also issued an announcement last month, announcing that the Pure Electric Passenger Car Project of Beijing New Energy Automobile Co., Ltd. project has been approved for filing, and the annual production capacity can reach 120,000 units.