Post Epidemic Consumption In The Annual Report: The Enthusiasm Of New Energy Vehicle Consumption Is Rising, And The Retail Industry Is Speeding Up The Transformation Of Multiple Formats

Stable and expanded consumption is being raised to an unprecedented level.

According to the data, the total retail sales of consumer goods in 2020 will reach 3919.1 billion yuan, down 3.9% year on year. This year's government work report clearly pointed out that we should adhere to the strategic basis of expanding domestic demand and fully tap the potential of the domestic market. Increasing the amount of consumption such as automobiles and accelerating the transformation of the retail market has become one of the important poles.

In 2019, affected by the decline of subsidies, China's new energy vehicles will have a negative growth for the first time in a decade. In 2020, China's new energy passenger car market started relatively sluggish, but the market in the second half of the year after the epidemic showed a gradual improvement, and this strong market trend has continued until March 2021.

The development level of new energy vehicles also has a greater impact on the business performance of an automobile enterprise.

With the recent financial reports of all automobile enterprises in 2020 and the first quarter of 2021, the reporter of 21st century economic report found that there are two noticeable changes in the automobile industry.

First of all, most of the car companies have seen a decline in net profit in 2020, and the decline in net profit is higher than that in revenue. However, several head of the new force sales rose against the trend, the gross profit margin turned positive.

Secondly, the proportion of private consumption market of new energy vehicles has increased significantly since 2020. New energy vehicles are mainly for the public and mainly for private car companies, showing obvious differences in business performance in 2020.

In addition, with the "double points" policy replacing financial subsidies, it has become an important driving force for the development of new energy vehicles. Many traditional automobile enterprises have seen a decline in single vehicle profits and weakened profitability due to integral trading, while new energy vehicle enterprises have benefited from integral trading. In this case, it will promote the traditional automobile enterprises to increase the development of new energy vehicles.

In the retail market, there is a trend that the online market accelerates the digital transformation, offline integration and optimization of stores, and accelerates the layout of multiple formats. Gaoxin retail, Zhongbai group and step by step are all accelerating the exploration, but the phenomenon of "increasing revenue but not increasing profit" in the retail industry is still relatively common.

The private car market has been greatly improved

According to the data of China Automobile Industry Association, in 2020, the production and sales of new energy vehicles will be 1.366 million and 1.367 million, respectively, with a year-on-year increase of 7.5% and 10.9%, which is obviously better than that of the automobile market with negative growth.

In the first quarter of this year, the production and sales of new energy vehicles exceeded 500000, reaching 533000 and 515000 respectively, with a year-on-year increase of 3.2 times and 2.8 times.

"The sales volume of new energy vehicles in the first quarter is very high, continuing the growth trend since the second half of last year. If you multiply this number by four, the overall sales volume of new energy vehicles this year will be 2 million." Xu Haidong, deputy chief engineer of China Automobile Industry Association, said.

In the view of Cui Dongshu, Secretary General of the all China passenger Association, the demand for private travel brought about by the epidemic in the end of 2020 is strong, especially in Shanghai and other cities where the purchase restriction is booming. This year, private new energy consumption has a new driving force.

However, Cui Dongshu is worried that the sustainability of sales of new energy vehicles in the restricted cities is poor, and the high retail sales at the beginning of the year are unsustainable, but it is of great significance to pull up the sales volume at present.

Specifically, since the end of October last year, Shanghai issued new regulations on foreign license plate restrictions, new energy vehicle sales have continued to rise. According to the data of the passenger Federation, the sales volume of new energy passenger vehicles in Shanghai reached 58500 in the first quarter of this year, ranking first in China and far higher than that in other provinces.

At present, the main growth force of new energy vehicles is still megacities. The overall consumption capacity of these cities is higher, which also promotes the development of high-end new energy vehicle market. This has provided market opportunities for several new forces of head car manufacturing, which are positioned as medium and high-end, and mainly focus on intelligent electric vehicles, and their scale has grown rapidly. The trend of China's automobile consumption upgrading is more obvious in the field of new energy vehicles.

In 2020, the sales volume of Tesla's domestic model 3 will reach 137459 units, ranking the first in the sales volume of new energy vehicles in the whole year. The sales growth rate of Weilai automobile and Xiaopeng automobile exceeded 100%, while the ideal automobile achieved the delivery volume of single model of more than 30000 in the first complete delivery year.

Thanks to the growth of scale, the "three brothers" of China capital stock Co., Ltd. have all achieved substantial growth in revenue and improved profits in 2020.

In 2020, the total revenue of Weilai is 16.257.9 billion yuan, up 107.8% year on year, and the accumulated net loss is 5.304 billion yuan, which is reduced by 53.0% year on year. However, Weilai has achieved a positive gross profit margin, with a gross profit rate of 11.5% for the whole year.

In the fiscal year of 2020, the total revenue of Xiaopeng automobile was 5.844 billion yuan, with a year-on-year increase of 151.8%, and the annual net loss was 2.732 billion yuan, with a gross profit margin of 4.6%.

The total revenue of ideal automobile was 9.46 billion yuan, and the net loss was 151.7 million yuan, but it made a single quarter profit for the first time in the fourth quarter. The gross profit margin was 16.4%, the highest among the three auto companies.

In the first quarter of this year, the private market demand continued to boost, the sales volume of the above-mentioned three automobile enterprises continued to set a new record, and the profitability of each company will be further improved.

However, in 2020, BAIC new energy, which had been the champion of China's pure electric vehicle market for many years, fell into a huge crisis in 2020 due to the decline in the demand for operating vehicles and the emergence of competitors such as gac-ea'an traditional independent auto enterprises in this segment market, and the impact of subsidization decline.

In 2020, BAIC blue valley will achieve a revenue of 5.272 billion yuan and a net loss of 6.482 billion yuan; In the first quarter of this year, the revenue was 830 million yuan, a year-on-year decrease of 50.19%; Net profit loss was 854 million yuan, 431 million yuan in the same period of last year.

Based on the judgment of the new energy vehicle market, BAIC new energy, Dongfeng and SAIC will focus on high-end brands this year.

However, in addition to the high-end market, the county and township market driven by SAIC General Motors Wuling and other local automobile enterprises is also gradually rising. Wuling Mini EV has ranked first in China's electric vehicle market for several consecutive months.

Old car companies generally increase losses, carbon trading forces transformation

In addition to the demand growth of the new energy vehicle market, the policy requirements also promote the vehicle enterprises to further accelerate the pace of electric transformation“ The effect of "double points" policy replacing financial subsidies to promote the development of China's new energy vehicle industry is showing.

Although the sales volume of China's new energy vehicles will increase in 2020, the positive score of new energy will also increase. However, due to the change of integral calculation standards, stringent emission standards, and the implementation of new energy integral proportion requirements, the fuel consumption score of traditional automobile enterprises has decreased rapidly in recent years. In 2020, there is a huge gap in fuel consumption negative integral compensation. In this case, the effect of new energy points offsetting fuel consumption points becomes more and more prominent, and the price of integral trading is also rising.

21st century economic reporter also learned from a number of industry insiders that the trading price of new energy points has increased rapidly in the past two years. From two or three hundred yuan a cent before 2018, it has risen to nearly 1000 yuan by 2020, and the price has risen to 2000-3000 yuan in 2021.

According to previous media reports, FAW Volkswagen, the champion in China's fuel vehicle market, will buy points from Tesla China at a price of 3000 yuan / min, which will cost about 500 million yuan.

As early as January 16 this year, Zhu Huarong, chairman of Chang'an Automobile, said at the forum of 100 people's meeting of China electric vehicles (2021), affected by the new double point policy, the double points generated by the six major automobile groups in 2020 are all negative, and the price of new energy points is constantly rising, which leads to the common phenomenon of increasing losses for automobile enterprises. Taking Chang'an group as an example, in 2020, the single vehicle profit reduction caused by double points is about 4000 yuan.

According to the financial report in 2020, the net profit of Changan Automobile is only 1600 yuan.

In addition to the six major state-owned automobile groups, Geely Automobile and great wall motor are also troubled by the double point policy. However, BYD will bring some revenue due to the high proportion of new energy vehicle sales.

In 2020, Tesla generated $1.58 billion in operating revenue by selling carbon credits, more than double the annual net profit of $721 million. In the first quarter of this year, Tesla's carbon points revenue was as high as $518 million, also higher than the net profit of $438 million.

In 2020, Weilai will generate 200000 points, which will be sold in 2021. If calculated according to the price of 3000 yuan / minute, the integral income will reach 600 million yuan.

The pressure of carbon credits is promoting the transformation of traditional automobile enterprises. At the just concluded Shanghai auto show, old car companies represented by Toyota, Volkswagen, general motors and Ford have launched brand-new electric models and launched the clarion call of counterattack.

Increasing revenue but not increasing profit becomes retail pain point

In spite of the impact of the epidemic, some enterprises still hand over the answer sheet of increasing income and profit under the strong impetus of the rise of online consumption channels and the stimulation of domestic demand.

In 2020, Beijing Jingkelong's revenue will increase by 2.79%, and its net profit will increase by 6.36%. Its online sales will increase by 40.7% year on year.

In 2020, the revenue of Zhongbai group decreased by 15.56%, and the net profit increased by 323.01%. However, due to the influence of the community group buying business launched by the audience multi platform companies, the loss is large in the first quarter of 2020.

Gaoxin retail (RT Mart + Auchan) achieved a slight increase in revenue and profit. However, among the retail enterprises that have published financial reports, many retail enterprises, such as Hongqi chain, Lianhua supermarket and Tianhong Stock Co., Ltd., are facing the situation of increasing income but not increasing profits. Some people in the industry told the reporter of the 21st century economic report that the retail industry itself is a struggle for efficiency. Whether it is an Internet giant constantly exploring the offline market, or a traditional retail enterprise that has begun to attack the online market, it is still in the exploratory stage of recruiting and buying troops. It is difficult to avoid short-term losses outside of opening stores and expanding its territory.

In 2020, the revenue of Hongqi chain is 9.053 billion yuan, with a year-on-year growth of 15.73%, a record high. However, the net profit attributable to shareholders of listed companies is RMB 505 million, a year-on-year decrease of 2.20%. In the first quarter of 2021, the total operating revenue was 2.26 billion yuan, a year-on-year decrease of 3.64%; The net profit attributable to shareholders of the parent company was 124 million yuan, down 13.27% year on year.

The turnover of Lianhua Supermarket in 2020 increased by 1.8% to RMB 26.331 billion; The annual loss of shareholders belonging to the company decreased by 15.6% to RMB 319 million.

In 2020, Tianhong will achieve a sales volume of nearly 30 billion yuan, with a year-on-year growth of 1.5%; The net profit attributable to shareholders of listed companies was 253 million yuan, down 70.51% year on year. In the first quarter of 2021, the net profit returned to the parent company was 66.728 million, making up the loss year on year.

Step by step, both revenue and profit will fall. In 2020, the company's operating revenue will reach 15.638 billion yuan, which will decrease year-on-year. The net profit attributable to the parent company was 110 million, a year-on-year decrease of 35.4%. In the first quarter, revenue decreased by 8.5%, and net profit increased by 3.3% year on year.

Looking at the whole traditional retail formats, in addition to accelerating access to the online market to seize traffic, it has become a trend to lay out small and medium-sized retail formats and enter into community retail. Traditional hypermarkets are facing a new round of shuffling and upgrading, while small and medium-sized businesses such as convenience stores are still active.

In terms of business, RT Mart has opened six new medium-sized supermarkets, "RT Mart super", and the number of "small RT Mart" stores has increased to 24. Both of them will enter the period of rapid store exhibition in 2021. In terms of community group buying business, there are nearly 8000 active sites cooperating with rookies, and 220 stores have been established in Feiniu group shopping site.

Lianhua continued to promote network expansion and store transformation and efficiency. In 2020, there will be 281 new supermarkets, 144 convenience stores, 416 closed stores and 272 outlets.

In 2020, the o2o home business of Zhongbai group has 1056 online stores, with a year-on-year increase of 133.44%.

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