Following the official announcements of BYD and Long March Motors, how long will it take for another car company to announce the suspension of production of new energy vehicles for fuel vehicles?
Following the official announcement of BYD (002594.SZ) and Long March Motors to stop producing fuel vehicles, another listed auto company followed suit.
The Red Star Capital Bureau noticed that on June 14, Hanma Technology (600375.SH) announced that the company will stop the production of traditional fuel vehicles in December 2025.
The company will focus on pure electric, methanol power, hybrid power, hydrogen fuel cells and other new energy, clean energy vehicle business.
On June 15, Hanma Technology opened the daily limit, and as of the close, the daily limit was still closed, at 9.48 yuan per share, with a total market value of 6.2 billion yuan.
It is worth mentioning that since 24:00 on June 14, domestic refined oil prices have ushered in the tenth increase in the year, which is equivalent to an increase of 0.31, 0.32, and 0.32 yuan per liter of No. 92 gasoline, No. 95 gasoline, and No. 0 diesel oil, respectively. .
Based on an ordinary private car with a fuel tank capacity of 50 liters, it will cost about 15 yuan more to fill a tank of fuel.
After the implementation of this increase, the domestic No. 92 gasoline will fully enter the era of 9 yuan, and the 95th gasoline in some areas will officially enter the era of 10 yuan.
Stop the production of traditional fuel vehicles by the end of 2025
On the evening of June 14, Hanma Technology released an announcement on the resolutions of the 17th meeting of the 8th Board of Directors, and reviewed and approved the "Proposal on the Transformation of New Energy and Suspension of Fuel Vehicles".
Hanma Technology stated that in order to actively respond to the national strategic goal of "carbon peaking and carbon neutrality" and speed up the process of new energy for the company's products, according to the company's strategic development needs, the company will stop the production of traditional fuel vehicles in December 2025. Production.
The company will focus on pure electric, methanol power, hybrid power, hydrogen fuel cells and other new energy, clean energy vehicle business.
The company will continue the production of traditional fuel vehicles before December 2025, and will do a good job in the exit of traditional fuel vehicles and the undertaking of new energy and clean energy vehicles.
At the same time, the company will continue the production and supply of traditional fuel vehicle parts, and continue to provide after-sales service guarantee for existing traditional fuel vehicle customers.
Hanma Technology's sales of traditional fuel vehicles from January to May this year were 1,678, accounting for 58.77% of the company's total sales in the same period; sales of new energy vehicles were 1,177, accounting for 41.23% of the company's total sales in the same period.
The company reminds that the company's business is concentrated in the new energy business, which may result in a lack of diversification of the company's business. If the prosperity of the new energy industry is insufficient, it may have an adverse impact on the company's ability to resist risks.
The company's transition to new energy and the production of fuel vehicles may reduce the company's existing market share of traditional fuel vehicles, which may have an impact on the company's short-term operating performance.
Geely takes the lead in the target market share of new energy heavy trucks
According to public information, Hanma Technology is a holding subsidiary of Zhejiang Geely New Energy Commercial Vehicle Group Co., Ltd. (hereinafter referred to as "Geely Commercial Vehicle Group"). parts etc.
The company's new energy products include pure electric vans, rechargeable heavy-duty tractors, dump trucks, concrete mixers, etc.
Hanma Technology, formerly known as Valin Xingma, announced in June 2020 that Geely Commercial Vehicle Group plans to acquire the company's equity for no less than 435 million yuan.
Since then, Hanma Technology has been promoting the non-public issuance of A shares to Geely Commercial Vehicle Group.
In May 2021, Hanma Technology announced that the non-public offering raised a net amount of 585 million yuan. After the issuance, Geely Commercial Vehicle Group's shareholding ratio increased to 28.01%, making it the company's largest shareholder.
Hanma Technology has been losing money for two consecutive years.
The net loss attributable to shareholders of listed companies in 2020 will be 490 million yuan, which will expand to 1.336 billion yuan in 2021.
Hanma Technology plans to sell 20,200 complete vehicles in 2022, a year-on-year increase of 46.64%, with a market share of 2%.
Among them, the sales volume of new energy vehicles was close to 7,500 units, an increase of 80% year-on-year, and the market share reached 20%; the sales volume of traditional energy vehicles reached 15,000 units, a year-on-year increase of 50%, and the market share reached 1.5%; the sales revenue reached 9.143 billion yuan, a year-on-year increase. an increase of 70%.
It plans to sell 55,000 units by 2025, and achieve the largest market share of new energy heavy trucks.
However, judging from the current performance, it is very difficult for Hanma Technology to achieve the goal of 2022.
In the first quarter of this year, Hanma Technology only achieved an operating income of 920 million yuan, a year-on-year decrease of 40.13%; a net loss of 162 million yuan.
From January to May this year, the cumulative sales volume of Hanma Technology's medium and heavy trucks (including incomplete vehicles) was 2,855 units, a year-on-year decrease of 66.33%.
In terms of stock price performance, Hanma Technology has fluctuated lower since it reached the highest point of 14.17 yuan in July last year, and has fallen by about 33% so far.
Industry changes
The new energy vehicle market continues to expand
The suspension of production and sales of fuel vehicles is on the agenda
BYD and Great Wall Motor's auto brands, Long March Motors, have previously officially announced that they will stop producing fuel vehicles.
BYD is also the first car company in the world to officially announce that it will stop producing fuel vehicles.
On April 3, BYD announced that it will stop the production of fuel vehicles from March 2022, and will focus on pure electric and plug-in hybrid vehicles in the automotive sector in the future.
On May 27, Long March Motors officially released the "New Energy Declaration", announcing that it will stop the production of fuel vehicles from June 5, and switch from traditional energy to hydrogen fuel cells, pure electric and other clean energy transportation technology routes.
With the continuous expansion of the new energy vehicle market, more and more car companies around the world have released timetables for stopping the production of fuel vehicles.
According to incomplete statistics from the Red Star Capital Bureau, the time point for domestic car companies to stop producing fuel vehicles is mostly set in 2025, and most overseas car companies are in 2030.
For example, Changan Automobile (000625.SZ) plans to completely stop the sale of fuel vehicles in 2025; BAIC Group plans to stop the production and sales of its own brand traditional fuel passenger vehicles in China by 2025; BMW will stop sales in the EU in 2030 Combustion vehicles; Ford plans to achieve zero emissions across all passenger vehicle ranges in Europe by mid-2026 and fully electric by 2030...
According to the Ministry of Industry and Information Technology's "Reply to Recommendation No. 7936 of the Second Session of the Thirteenth National People's Congress", relevant departments have begun to study the exit time of traditional fuel vehicles.
Hainan is the first province in my country to explicitly stop the sale of fuel vehicles, and plans to use new energy vehicles across the island by 2030.
The European Parliament met on June 8 in Strasbourg, France, and voted to approve a European Commission proposal to stop the sale of new gasoline-powered vehicles in the EU from 2035, including hybrid vehicles.
The ban will accelerate the transition to electric vehicles in the region.
Volkswagen and Mercedes-Benz have come out in support of the new regulations.
Mercedes also praised the legislation, saying it is ready to sell 100 percent of its electric cars by 2030.
Volvo, Ford Europe, Jaguar Land Rover, Stellantis and other car companies also expressed support.
Chengdu Business Daily-Red Star News reporter Wu Danruo