As the year is approaching, from the current disclosure of the annual report of the car companies, the implementation of the new energy subsidy policy has become the key word and barometer of corporate profit trends.

Thanks to the promotion of the new energy vehicle market, BYD achieved a five-fold surge in net profit last year. In 2016, the company's net profit surged to 5.2 billion yuan, and continued to maintain a high growth rate. The penalty will have a greater impact on the company's 2016 operating results. “A preliminary estimate will directly reduce the company’s 2016 net profit attributable to the parent company by approximately RMB 315 million.”

On the one hand, Jinlong Automobile is the biggest scam from the industry, and on the other hand, the profit of other bus companies such as Yaxing Bus has surged year-on-year, and the pattern of the new energy bus industry will usher in a reshuffle. According to the announcement, the annual net profit of Yaxing Bus in 2016 is expected to reach 60 million yuan to 80 million yuan, which will increase by 197% to 296% compared with the same period of last year.

“The five years from 2016 to 2020 is a crucial period for the introduction and cultivation of new energy auto industry. The government and enterprises still need to make great efforts.” Wang Binggang, a special expert on the special technology of electric vehicles for the 863 Program of the Ministry of Science and Technology, told the Securities Daily reporter. In the future, car subsidies will be withdrawn, instead of the usual encouragement policies based on environmental and energy factors, and private purchases will be the mainstay.

Zhang Xiangmu, director of the Equipment Industry Department of the former Ministry of Industry and Information Technology, told reporters: "The new energy automobile industry must be able to truly do it. It is impossible to rely solely on subsidies and rely on national policies. Therefore, we may make some adjustments in the future. The market is the main driving force. To speed up the transition from incubation to rapid growth."

BYD's annual profit is expected to increase by 80%

Judging from the latest production and sales data express report released by Yaxing Bus, from January to October this year, Yaxing Bus sold 3,765 passenger cars, a year-on-year increase of 35%. In terms of subdivision, from January to October this year, Yaxing sold 2,883 large passenger cars, an increase of 84% year-on-year; sales of 455 medium-sized buses, down 46% year-on-year; sales of 427 light buses, up 10% year-on-year.

The company said that this year the company vigorously promoted cost reduction and efficiency activities, and costs and expenses were effectively controlled. In addition, with the expansion of sales channels and product quality, the proportion of products with strong profitability has been expanding, and sales have risen sharply.

BYD, which has laid out new energy vehicles ahead of schedule, continues to be the biggest profit-maker in this field.

According to BYD's forecast, the net profit for the year was 5 billion yuan to 5.2 billion yuan, a year-on-year increase of 77.09% to 84.17%. In the fourth quarter, the demand for new energy vehicles continued to be strong, the company's new energy vehicles will continue to sell well, and the new energy vehicle business will continue to maintain a good momentum of development. In the traditional automobile business, the continued sales of BYD SUV models will promote the steady growth of the Group's traditional car sales.

According to industry insiders, the rapid growth of BYD's performance is inseparable from the development of China's new energy vehicles. With the encouragement and support of the central government and the local government, new energy vehicles have maintained steady growth. According to the statistics of China Association of Automobile Manufacturers, new energy passenger cars and new energy commercial vehicles sold a total of 289,000 units in the first nine months of 2016, an increase of 100.6% over the same period of the previous year, far exceeding the growth rate of 13.17% of the total sales volume of Chinese automobiles in the same period. .

Jinlong Automobile was fined nearly 800 million yuan

Affected by the incident of compensation, Jinlong Motor said that the accumulated net profit in 2016 will drop sharply compared with the same period of the previous year.

According to the data disclosed by the listed company Jinlong Automobile's 2015 annual report, its pure electric vehicles received a total subsidy of 4.234 billion yuan for new energy vehicles, up 55.92% year-on-year, and plug-in electric vehicles received 1.57 billion yuan of subsidy funds, an increase of 36.63%. In this year, Jinlong Motor's net profit was 523 million yuan, a year-on-year increase of 110.30%. The rapid growth of the new energy business has become the main driving force for this performance.

According to previous announcements, the Ministry of Finance will recover the 5,000-yuan yuan of the central financial subsidy of Jinlong Automobile's subsidiary Suzhou Jinlong in 2015, and impose a fine of 50% of the amount of violations, that is, 259 million yuan, totaling nearly 800 million yuan. At the same time, the company's central financial subsidy will be cancelled from 2016, and when it is resumed, it will be re-approved according to the whole process.

On September 9, Jinlong Automobile announced that the penalty for Suzhou Jinlong will directly reduce the net profit attributable to the parent company by RMB 315 million in 2016, which will have a greater impact on the 2016 operating results.

The reporter learned that this fine has become the largest government ticket in the auto industry so far. The last big ticket received by the auto industry was in April 2015, the fine imposed by the Jiangsu Provincial Price Bureau on the Mercedes-Benz auto price monopoly case. Administrative penalties of 100 million yuan.

It is worth mentioning that the identification of “scams” ​​stain labels will affect far more than the revenue of Suzhou Jinlong in 2016. Some analysts said that unlike the full version of the subsidy survey that was circulated among enterprises since then, as a typical newly notified energy company, regardless of the scale of subsidies involved or the means of illegal operation, the severity is higher than other surveys. Car companies.

The reporter noted that due to the impact of the new energy vehicle fraud in the first half of 2016, Suzhou Jinlong experienced a significant decline in net profit in the case of sales growth. In the first half of the year, a total of 9,800 passenger cars were sold, a year-on-year increase of 13.4%. The operating income for the same period was 5.198 billion yuan, a year-on-year increase of 30.54%, but the net profit was only 55,658,500 yuan, a year-on-year decrease of 60.71%. According to CICC, Jinlong Motor's 2016 net profit was reduced to 125 million yuan, down by 76.9%.

Some insiders pointed out that for enterprises such as Suzhou Jinlong who are on the blacklist, as the risks of corporate integrity and policies increase, it will be more difficult to obtain loans from banks and other financing channels, and it will be more difficult in the new energy field. The competitive advantage is also inevitably affected. With the landing of the fraudulent list, the pattern of the new energy bus industry, including Suzhou Jinlong, will also be reshuffled.

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