Beiqi Foton expects substantial growth in performance in 2023: net profit is expected to increase by 1,298%, and sales in overseas markets will hit a record

Beiqi Foton Motor Co., Ltd. recently released a preview of its performance in 2023. It is expected that the company will achieve a net profit of 910 million yuan. Compared with the same period last year, this figure will significantly increase by 844.89 million yuan, with a growth rate of approximately 1,298%. This forecast shows the significant growth momentum that BAIC Foton Motor will achieve in the coming year.

In addition to recurring profits and losses, Beiqi Foton’s net profit is expected to reach 220 million yuan in 2023. This means that compared with the same period last year, net profit increased by 528.29 million yuan, successfully achieving the transformation from loss to profit. This significant performance growth is mainly attributed to the company's increase in sales, especially its outstanding performance in new energy and overseas markets.

According to the editor’s understanding, Beiqi Foton’s sales reached 631,000 vehicles in 2023, a year-on-year increase of 37.14%. Among them, sales of new energy products doubled, and sales in overseas markets also hit a record high, reaching 131,000 vehicles, a year-on-year increase of 49.1%. This outstanding performance has enabled Foton Motor to retain the title of China's commercial vehicle export champion for 13 consecutive years. Currently, Foton Motor's new energy products have been sold to 45 countries and regions around the world.

In terms of technology and products, Foton Motor has also made significant breakthroughs in 2023. They have released a number of new technologies, new products and new platforms, including the first model equipped with independent suspension AMT dual configuration - Omark X pro independent suspension light truck, as well as new products such as Omar Kezhilan ES, Mars Pickup, and Xiangling Q. In addition, they have also launched a full range of automatic transmission products, a full range of hybrid products and super low-carbon trucks made of basalt fiber. In the international market, Foton Motor also launched a new generation of pickup truck TUNLAND V, the new generation AUMARK, Foton Galaxy heavy truck and the new micro truck brand WONDER, etc., have further enriched its product lineup.

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