pokertablesnearme|新能源汽车龙头业绩继续领跑，以旧换新政策将促进汽车消费！

Editor's note: the annual reports of listed companies in 2023 and the quarterly report in 2024 have been closed, and the Securities Times combed out the operating income, profits and corresponding growth data of companies in five hot industries to provide dinner for readers.

The performance growth rate of new energy vehicles is still faster than that of fuel vehicles.

The automobile industry has a long chain and many supporting enterprises, which has a great influence on the national economy.

Data show that in the first quarter of 2023 and 2024, the operating income and net profit of listed companies in the A-share market automobile industry chain continued to grow as a whole.

In terms of revenue scale, in 2023, the total operating income of listed enterprises such as SAIC (600104), BYD (002594), Weichai Power, Great Wall Automobile, Huayu Automobile (600741), Changan Automobile (000625), Guanghui Automobile (600297) and GAC GROUP (601238) exceeded 100 billion yuan. Among them, the total operating income of SAIC reached 7447.Pokertablesnearme0500 million yuan ranked first. However, in terms of profit scale, the net profit of BYD belonging to its parent shareholders reached 30.041 billion yuan in 2023, significantly exceeding the 14.106 billion yuan of SAIC in the same period.PokertablesnearmeIt was a similar situation in the first quarter of 2024, when SAIC's total revenue reached 143.072 billion yuan, which was still higher than that of BYD, but SAIC's net profit attributed to its parent shareholders was 2.714 billion yuan, lower than BYD's 4.569 billion yuan and Great Wall Motor's 3.228 billion yuan.

In terms of growth rate, in 2023, the total revenue of listed companies in the automotive industry chain, such as Zhongzi Science and Technology, Taixiang shares, Bojun Technology, Kailong Hi-Tech, FAW Liberation, Huayang Speed change, Earth Electric, Ofu Environmental Protection, Ruihu Mould, Longsheng Technology (300680) and so on, ranked first in year-on-year growth. In the first quarter of 2024, the total revenue of Cyrus, Yaxing bus (600213), Taixiang, Ankai bus, Shanghai Guangguang, Jin Hongshun (603922), Huayang variable Speed, Shanghai Yanpu and other companies grew by more than 100% compared with the same period last year.

The performance growth rate of some new energy listed car companies is in the forefront of the industry. For example, according to the first quarterly report of 2024 disclosed by Selis, the company realized operating income of 26.561 billion yuan in the first quarter of 2024, an increase of 421.76% over the same period last year, and realized a net profit of 220 million yuan belonging to the shareholders of the parent company, reversing losses over the same period last year. By comparison, some traditional leading car companies showed a decline in first-quarter performance. For example, SAIC's total revenue in the first quarter of 2024 fell 1.95% from a year earlier, and net profit belonging to parent shareholders fell 2.48% from a year earlier.

From the comparison of the performance of traditional car companies and new energy vehicle companies, new energy vehicle companies continue to achieve relatively higher revenue growth, and the substitution effect of new energy vehicles compared with fuel vehicles is still continuing.

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Organization: the replacement of old cars will effectively promote automobile consumption.

Growth and internal structural changes in the auto industry continue.

Judging from the overall sales data of the automobile industry, according to the statistical analysis of the China Association of Automobile Manufacturers, in March 2024, passenger car sales were promoted by a large number of new cars on the market, auto shows and other activities, price reduction promotion and sprint at the end of the quarter, all achieved rapid growth compared with the same period last year. In March 2024, the production and sales of passenger cars completed 2.25 million and 2.236 million respectively, an increase of 76.7% and 67.8% respectively over the previous month, and 4.7% and 10.9% respectively over the same period last year. From January to March 2024, the production and sales of passenger cars completed 5.609 million and 5.687 million respectively, an increase of 6.6% and 10.7% respectively over the same period last year.

In addition, according to the statistical analysis of the China Association of Automobile Manufacturers, in March 2024, the production and sales of new energy vehicles showed a rapid growth. In March 2024, the production and sales of new energy vehicles completed 863000 and 883000 respectively, an increase of 28.1% and 35.3% respectively over the same period last year. From January to March 2024, the production and sales of new energy vehicles completed 2.115 million and 2.09 million respectively, an increase of 28.2% and 31.8% respectively over the same period last year.

Recently, an important point in the automobile industry is the detailed rules for the implementation of car trade-in subsidies. Recently, the Ministry of Commerce, the Ministry of Finance and other seven departments jointly issued the "detailed rules for the implementation of Automobile Trade-in subsidies" (hereinafter referred to as the "detailed rules"), defining the subsidy policy of automobile trade-in funds.

The detailed rules clearly define the scope and standards of subsidies. During the period from the date of issuance of the detailed rules to December 31, 2024, fuel passenger vehicles with emission standards of three or less in scrapped countries or new energy passenger vehicles registered before April 30, 2018, and purchase new passenger vehicles that meet the energy-saving requirements, can enjoy an one-time quota subsidy. Among them, 10, 000 yuan is subsidized to scrap the above two types of old passenger cars and purchase qualified new energy passenger vehicles, and 7000 yuan is subsidized to scrap country III and below emission standard fuel passenger cars and purchase fuel passenger cars with 2.0L or less engine displacement.

A recent research report by Shengang Securities believes that the release of the detailed rules has not only brought substantial economic benefits to consumers, but also provided policy support for the transformation and upgrading of the automobile industry. Shengang Securities believes that the policy is expected to effectively promote automobile consumption, accelerate the popularization of new energy vehicles, and have a positive impact on environmental protection and resource recycling. In the future, with the in-depth implementation of the policy, its role in promoting the market and industry will be further revealed.