BAIC Blue Valley's revenue in the first three quarters increased by 63% year-on-year, and sales increased by 91%

On October 27, BAIC Blue Valley (SH.600733) released its third quarter report stating that its operating income in the first three quarters of 2023 was 9.308 billion yuan, a year-on-year increase of 63%. In terms of sales volume, in the first three quarters of 2023, the company's sales reached 54,753 units, a year-on-year increase of 91% in an environment of widespread price reductions and promotions in the industry and fierce market competition.

The significant growth in revenue and sales is mainly due to the company's effective promotion of "scenario-based car manufacturing", continuous improvement of the product strength of the Jihu brand, and effective expansion of product range. By providing "a good car and an experience solution for segmented groups", the Jihu brand has achieved breakthroughs in single products and gained greater sales growth potential.

In the first three quarters, JiFox Alpha S Advanced Edition, JiFox Alpha S Forest Edition, JiFox Alpha T Forest Edition, and JiFox Koala were launched successively to meet the personalized travel needs of users in market segments. Among them, Jihu Koala, "the world's first smart parent-child car", has successfully opened up a track for parent-child travel by setting the three benchmarks of health, safety and convenience.

At the same time, Jihu Brand continues to improve channel construction, explore channel sinking space, improve the marketing system, and strengthen marketing capabilities.

While sales are growing and operating capabilities continue to strengthen, BAIC Blue Valley continues to increase investment in research and development and consolidate core competitiveness. In the first three quarters, BAIC Blue Valley’s R&D expenses were 759 million yuan, a year-on-year increase of 21%.

Next, BAIC Blue Valley will rely on the rapid development advantages of the skateboard platform to intensively launch a variety of product resources to achieve synergy and seize users' minds. According to the plan, in 2023 and 2024, Jihu Motors will successively launch 7 new products based on the concept of scene-based car manufacturing, gradually realizing a complete transformation of product strategy from competitive product benchmarking to scene-based applications. Based on this, BAIC New Energy will keep up with the market pace, continue to deepen the development of "scenario-based vehicle manufacturing", and promote further upgrades in production and operation efficiency by strengthening refined management and continuing to improve operating efficiency.

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