Car companies' performance in the first quarter fell sharply: the net profit of SAIC and FAW cars fell by 80%.

On April 29th, SAIC (600 104. SH) and FAW Car (000800. SZ) disclosed the performance in the first quarter of this year. Affected by the epidemic, the sales, revenue, profit and other data of the two car companies have declined to varying degrees.

As the leader of the domestic automobile industry, SAIC seems to be powerless in the face of the bleak situation of the domestic automobile market in the first quarter. Its operating income in the first quarter and net profit attributable to shareholders of listed companies decreased by 48.35% and 86.42% respectively.

On the data of 20 19 annual report released not long ago, the net profit of SAIC Group also declined. The data shows that SAIC achieved a net profit of 25.603 billion yuan last year, down 28.90% year-on-year. This is the first time that SAIC has experienced an annual profit decline since its overall listing.

The performance of FAW Car is also declining, and the net profit attributable to shareholders of listed companies is 654.38+82 billion yuan, down 80.06% year-on-year. Although the net profit plummeted, the decline in revenue of FAW Car clearly outperformed the broader market. The data shows that its operating income in the first quarter was 28.636 billion yuan, down 3.98% from the same period last year.

In fact, in addition to SAIC and FAW Car, the performance of major car companies in the first quarter of this year has been seriously affected by the epidemic, and the performance data of many car companies are now plummeting. However, according to industry analysis, the performance in the first quarter is only a normal response to the short-term sharp fluctuations in the market. The domestic auto market will gradually pick up in the second quarter, and it is expected to return to normal in the second half of the year.

As of the close this afternoon, SAIC's share price closed at 18.90 yuan, up 4.48% from the previous day, with a total market value of 2208 17 billion yuan. The share price of FAW Car closed at 9.97 yuan, down 0.80% from the previous day, with a total market value of 45.958 billion yuan.

SAIC's sales in the first three months decreased by 55.7 1%.

According to the data of the first quarterly report released by SAIC, in the first three months of this year, SAIC achieved operating income of1012.49 million yuan, a decrease of 48.35% compared with the same period of last year, and the net profit attributable to shareholders of listed companies was112/0.00 billion yuan, a decrease of 86.5% compared with the same period of last year.

After deducting non-recurring gains and losses, the net profit attributable to shareholders of SAIC listed companies decreased even more, reaching 90.9 1%, and the final net profit was 69.65438 billion yuan. A quarterly report shows that the amount of government subsidies included in the current profit and loss is 502 million yuan.

Sales are also unsatisfactory. In March this year, SAIC sold 2,365,438+0,455 vehicles, and the cumulative sales in the first three months was 679,028 vehicles, down 55.765,438+0% year-on-year.

Although the sales volume and operating income decreased significantly, during the reporting period, SAIC's operating costs and sales expenses also decreased by more than 40%. According to the first quarterly report, the operating cost of SAIC during the period was 90.248 billion yuan, down 47.25% year-on-year; Sales expenses were 584 1 100 million yuan, down 55.95% year-on-year.

In addition, the net cash flow generated by SAIC's operating activities in the first quarter increased by 90.82% year-on-year to-654.38+646 million yuan. The report explained that the main reason was the optimization of the cash flow of the company's vehicle enterprises, and at the same time, the company's subsidiary Shanghai Automotive Group Finance Co., Ltd. was affected by the epidemic, and the customer loans issued in this period decreased year-on-year.

Short-term loans also increased by 365,438+0.32% to 33.6 billion yuan. A quarterly report explained that the main reason was that the company needed new loans for business development.

FAW Car also handed in its report card for the first quarter of this year yesterday.

The first quarterly report of FAW Car shows that the company's operating income in the first quarter was 28.636 billion yuan, down 3.98% from the same period of last year; The net profit attributable to shareholders of listed companies was 65.438+82 billion yuan, down 80.06% year-on-year.

However, in terms of sales volume, FAW Car did not disclose relevant sales data.

In addition, during the reporting period, the net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses and the net cash flow generated from operating activities also decreased by 1773.98%, 21.09% to-530 million yuan and-2.024 billion yuan respectively.

As for the reasons for the decrease in net cash flow from operating activities, the report explained that the main reasons were the increase in bills received for selling goods and providing services, the decrease in cash and the increase in cash payments related to other operating activities.

The domestic automobile market is subject to overseas epidemics.

With the domestic epidemic under control, the automobile market consumption is gradually active, showing a positive trend.

On April 29th, the data released by Passenger Car Association showed that the overall retail volume of passenger car market rebounded rapidly in the first four weeks of April: the average retail volume in the first four weeks was 35,300 vehicles, with a year-on-year growth rate of 1.6%. However, compared with the plunge in March, the consumption in the auto market rebounded significantly in April. According to the Federation's data, the year-on-year growth rate of 42% in April has been greatly improved compared with the first four weeks in March.

However, the persistence of foreign epidemic has added some unstable factors to the domestic auto market, especially for many auto companies that rely on import and export links, the shock wave will continue.

"With the arrival of the second quarter and the second half of the year, most enterprises can still recover well, but now the overseas epidemic continues, and the recovery of the auto market in the second quarter will still be far from the usual production level." On April 30th, Zhang Xiang, a senior auto industry analyst, told the Test Drive Report.

SAIC said in a quarterly report that the development trend of COVID-19 epidemic is the most important risk factor affecting the trend of the auto market this year. At present, the situation of epidemic prevention and control in COVID-19, China continues to improve, and the company will actively play its competitive advantage and seize market opportunities.

SAIC also said that considering that the overseas epidemic is still spreading, the impact of the epidemic on the domestic economy and the automobile market needs further observation. The company expects that the accumulated net profit from the beginning of the year to the end of the next reporting period may change greatly compared with the same period of last year.

In addition to SAIC, Geely Automobile, Great Wall Motor and other car companies have also introduced relevant measures, including checking overseas orders, shortening the international logistics cycle, and setting up emergency teams to reduce the adverse impact of overseas markets on themselves.

"Overall, if there is no epidemic, this year's auto market is still in the period of industry adjustment. Last June, 5438+February predicted that the auto market would drop by 2% this year. Now affected by the epidemic and overseas, it is optimistic that the total number of domestically produced cars will still decline 15% this year. " Zhang Xiang told the test drive report.

Zhang Xiang also said, "However, compared with the domestic and foreign automobile markets, the degree of decline will be more serious." It is worth noting that under the epidemic, the domestic auto market is also good. "This year, China's new energy vehicles should be expected to reach the sales level of last year, because some favorable policies have been introduced recently."

This article comes from car home, the author of the car manufacturer, and does not represent car home's position.