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BAIC Motor 2019 1H Results Presentation

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BAIC Motor 2019 1H Results Presentation BAIC Motor 2019 1H Results Presentation August 2019 Stock Code: 1958.HK DISCLAIMER This PPT and the information contained herein do not constitute a suggestion to deal in any securities of BAIC Motor Corporation Limited (the “Company”) or an offer to deal in any securities of the Company, and do not constitute the base or basis of any contract or undertaking. We do not make any explicit or implicit statement or guarantee over the fairness, accuracy, completeness or correctness of the information or opinions contained in this PPT, and therefore the above information or opinions shall not be relied upon. The Company and any advisers or representatives of the Company will be neither liable for nor obliged to the losses of whatsoever nature relating to this PPT arising from the use of this PPT or its contents or due to any other reasons (whether or not due to omission or other reasons). The information contained in this PPT that relates to the financial conditions, operating results and businesses of the Company as well as the forward-looking statements of the management of the Company as to some plans and objectives involves foreseeable and unforeseeable risks, uncertainties and other factors that may cause the future actual results and performance of the Company to deviate materially from the results and performance explicitly or implicitly stated in the above forward-looking statements. The above forward-looking statements are based on the current and future business strategies of the Company and are made based on various assumptions made according to the political and economic environment where the Company conducts its future businesses. The above forecasted statements reflect the opinions of the management of the Company as at the date on which the data is released. Any person shall not place reliance upon the above forecasted statements. The Company does not guarantee that the above forecasted statements are consistent with the future results and events of the Company. The information contained in this PPTC provided by us to you shall be kept confidential and the above information shall not be offered or disclosed to any other person or otherwise copied. 1 1 Overview of the 2019 1H Results 2 Industry development in 2019 1H 3 Operating Performance of the Group in 2019 1H 4 Data from Consolidated Financial Statements 5 Development Outlook 2 1 2019 1H Results of Operations: Sales Volume In 2019 1H, the sales volume of China’s passenger vehicles dropped by 14% by and large. Confronting with pressure and challenges, the Group achieved relatively stable operating performance. Total sales volume of 654 thousand units, representing a year-on-year decrease of 9.2%, which outperformed the whole industry. The Group’s Sales Volume in 2019 1H （ thousand units） 2019 1H 654 - 9.2% 2018 1H 720 3 Note: the data are the wholesale volume, same as below; Source: company info 2 2019 1H Results of Operations: Profitability In 2019 1H, the consolidated revenue of the Group was RMB 87.76bn (+14.1% yoy), NP attributable to equity holders was RMB 2.09bn （-25.9% yoy) and the basic EPS was RMB 0.25，which have demonstrated that the Group has achieved relatively stable operating performance amidst the competition and challenges in the industry. Key Financial Data of the Group in 2019 1H（ RMB million ） Revenue Net profit Basic EPS 2,820 87,764 0.36 76,902 2,090 0.25 14.1% - 25.9% 2018 1H 2019 1H 2018 1H 2019 1H 2018 1H 2019 1H 4 Note: The Company completed the H share placement and share capital changes in April 2018; the estimated number of shares of the company's basic earnings per share in 2018 1H was 7.731 billion shares, and 2019 1H was 8.015 billion shares. Source: reviewed report under the IFRS 3 2019 1H Results of Operations: Focus on “High, New and Special” In 2019 1H, the Group focused on the “high, new and special” development “High”——Quality first , adhere to high-end manufacturing and products, and create value-added products “New”——Drive by innovation, strength the pace of comprehensive NEV, independent research “Special”——Strengthen the deep accumulation of BJ brand; develop the spirit in working and business High Adhering to the high-end route of Beijing Benz and promoted high-end adjustment of the overall capacity New Accelerating the comprehensive utilization of NEV in Beijing Brand, Beijing Benz and Beijing Hyundai and applying new technologies including intelligentization and networking Special strengthen the deep brand accumulation of off-road, and starting a business with the spirit of working hard and bravely 5 Source: company info 4 2019 1H Results of Operations: Success with Strategic Partners In July 2019, BAIC Group announced that it would hold a 5% stake in Daimler and deepen the strategic cooperation between BAIC and Daimler furtherly. As an important link between the two parties, the Group will continue to benefit from the strategic partnership under the new situation. Together with Hyundai, we continue to promote the localization and new energy process centered on Beijing Hyundai. BAIC Group invests in Daimler The localization and new energy process of Beijing Hyundai PHEV、BEV 6 Source: company info 5 2019 1H Results of Operations: Continue to Promote Industry and Cooperation Upgrade The passenger car industry is facing profound changes. The Group will adopt a forward-looking strategy to meet and lead the industry change and work closely with its partners: together with Daimler, we actively promote the electricization strategy based on Beijing Benz; we work with Korea Hyundai to strengthen the research and development and introduction of NEV, hydrogen energy and N series high-performance vehicles; we work with all parties to strengthen business cooperation in China's automotive R&D, finance, and aftermarket. EQC BAIC cooperates with Daimler and Hyundai in new areas N series high- Auto finance end products New electric vehicle Used car trading New Daimler R&D center Auto leasing hydrogen energy Auto exports 7 Stock Code: 1958.HK Source: company info 1 Overview of the 2019 1H Results 2 Industry Development in 2019 1H 3 Operating Performance of the Group in 2019 1H 4 Data from Consolidated Financial Statements 5 Development Outlook 8 1 Development of Passenger Vehicle Industry In 2019 1H, in the passenger vehicle market in China, 10.1 million units of vehicles were sold, representing a year-on-year decrease of 14.0%, and the growth rate was lower than that for the same period last year, mainly due to the combination of the slowdown in macroeconomic growth, the Sino-US trade conflicts, the decreasing consumer demands and the de-stocking under the China V. Annual Sales Volume and Growth Rate of the Passenger Vehicle Monthly Sales volume Growth Rate of the Passenger Vehicle Market in China (%) Market in China (million units) 14.9% 30% 7.3% 4.6% 20% 1.4% -4.1% 10% -14.0% % 24.4 24.7 23.7 -10% 21.1 11.8 -20% 10.1 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2017 -1.1 18.3 1. 7 -3.7 -2.6 2. 3 4. 3 4. 1 3. 3 0. 4 - -0.7 2018 10.7 -9.6 3. 5 11.2 7. 9 2. 3 -5.3 -4.6 -12.0 -13.0 -16.1 -15.8 2015 2016 2017 2018 2018 1H 2019 1H 2019 -17.7 -17.4 -6.9 -17.7 -17.4 -7.8 9 Source: China Association of Automobile Manufacturers (“CAAM”) 2 Development of Passenger Vehicle Market in Segment In 2019 1H, there was a negative growth in the sales volumes of the four major types of passenger vehicles and a greater decrease in the sales volumes of MPVs and CUVs; the market share of SUV models further increased to 42.5%, while the sales volume of SUV products under Chinese brands increased by -23.3%, accounting for 53.4% of the total sales volume of SUVs, with a decrease in the market share. Rate of growth in passenger vehicle sales volume (%) Market share of SUV models (%) SUV 42.5 44.6 42.2 52.4 41.5 18.4 13.3 MPV 9.7 3.4 -2.5 Chinese 10.1 -2.5 -13.4 -5.3 5.5 brand -17.1 -2.7 37.1 53.4% Sedan -16.2 -24 -17.5 -17.5 -12.7 -37.8 -20.0 -17.3 CUV -25.9 -12.9 2015 2016 2017 2018 2018 1H 2019 1H 2016 2017 2018 2019 1H 10 Source: CAAM 3 Development of Passenger Vehicle Market in Segment In 2019 1H, the market of new energy passenger vehicles maintained rapid growth, with the total sales volume of 563 thousand units, up by 58.7% year-on-year; the sales volume of battery electric passenger vehicles reached 440 thousand units, up by 69.8% year-on-year. In July 2019, Beijing issued a policy to encourage taxis to upgrade NEV, which effectively promoted the comprehensive electrification of taxis and helped the further popularization of NEV. Sales and growth of the new energy passenger vehicles Beijing's fund incentive policy for taxis to be upgraded to BEV (thousand units) Target groups Taxi operator 1053 Standards Referred to the vehicle battery price（The maximum is ￥73,800 ） PHEV NEV Vehicles that are due to expire 265 Scope of Vehicles purchased using vehicle reward indicators incentives 788 58.7% 563 Other vehicle updates approved by the city 579 government 111 355 123 The cruising range of the vehicle is not less than Qualifications 300 km in principle.
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