Shulou(Shulou.com)11/24 Report--

According to CTOnews.com news on April 2, BAIC Langu announced today that its subsidiary Beijing New Energy Automobile Co., Ltd. sold 10302 vehicles in March 2023, and accumulated sales of 15114 vehicles from January to March, an increase of 65.72 percent over the same period last year. BAIC New Energy produced a total of 1722 vehicles from January to March, down 36.29% from the same period last year.

BAIC Langu said that some of the sales include cooperative models jointly developed by Beijing New Energy Automobile Co., Ltd. and Beijing Automobile Co., Ltd., produced by Beijing Automobile Co., Ltd., and sold by Beijing New Energy Automobile Co., Ltd.

According to the data, BAIC New Energy, founded in 2009, is a new energy automobile enterprise initiated and controlled by Beijing Automobile Group Co., Ltd.

In January this year, BAIC Langu predicted a net loss of 5.2 billion yuan to 5.8 billion yuan for shareholders of listed companies in 2022, and 6.2 billion yuan to 5.6 billion yuan for shareholders of listed companies after deducting non-recurring profits and losses.

In fact, BAIC Langu has sustained losses in recent years. In 2021, the net loss belonging to the shareholders of the listed company is 5.24 billion yuan, and the net loss belonging to the shareholders of the listed company after deducting non-recurrent profit and loss is 5.54 billion yuan.

As far as CTOnews.com knows, BAIC Langu mainly operates two major brands, Beijing Automobile and Polar Fox. BAIC New Energy has been losing money in recent years. Polar Fox sold only 9829 vehicles in the first three quarters of 2022, less than 25 per cent of the target of 40,000 vehicles for the whole year.

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