Baic Blue Valley in the first three quarters of revenue growth of 63%, sales increased 91%

On October 27, BAIC Blue Valley (SH.600733) released the third quarter report that the operating income in the first three quarters of 2023 was 9.308 billion yuan, an increase of 63%. At the sales level, in the first three quarters of 2023, the company sold 54,753 units in the industry's general price reduction promotion and fierce market competition, an increase of 91%.

The significant growth of revenue and sales is mainly due to the company's effective promotion of "scenario-based car building" landing, continued to improve the product power of the polar Fox brand, and effectively broadened the product range. By providing "a good car + subdivided population experience solution", the polar Fox brand achieves a single product breakthrough and gains greater sales growth potential.

In the first three quarters, Polar Fox Alpha S advance version, Polar Fox Alpha S Forest version, Polar Fox Alpha T Forest version, polar Fox Koala have been listed to meet the personalized travel needs of market segment users. Among them, the "world's first intelligent parent-child car" polar Fox Koala has successfully opened up the parent-child travel track by establishing the three benchmarks of health, safety and convenience.

At the same time, the polar Fox brand continues to improve the channel construction, explore the channel sinking space, and improve the marketing system, strengthen the marketing ability.

While sales growth and business capacity continued to increase, BAIC Blue Valley continued to increase investment in research and development to consolidate core competitiveness. In the first three quarters, BAIC Blue Valley research and development expenses of 759 million yuan, an increase of 21%.

Next, BAIC Blue Valley will rely on the rapid development advantages of the skateboard platform, intensively launch multiple product resources, achieve joint efforts, and seize the user's mind. According to the plan, in 2023 and 2024, Polar Fox Automobile will launch seven new products in succession with the concept of scene car building, and gradually realize the transformation of product strategy from competitive products to scene application. Based on this, BAIC new energy will keep up with the rhythm of the market, continue to deepen the development of "scenario-based car manufacturing", and promote the further upgrading of production and operation efficiency by strengthening fine management and continuously improving operational efficiency.