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| Saturday, 14 November 2015, 10:00 HKT/SGT | |
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HONG KONG, Nov 14, 2015 - (ACN Newswire) - With its outstanding strength and performance, BAIC Motor Corporation Ltd. ("BAIC Motor"; stock code: 01958.HK) received two China Securities Golden Bauhinia Awards as "The Best Listed Company" and one of the "Best Investor Relation Management Listed Companies ". BAIC Motor has long been capturing great opportunities from the sustainable development of China's automobile industry, making the best of the resource advantages from Beijing and Hong Kong capital markets, and implementing the strategy of joint venture cooperation and independent innovation, and thereby BAIC Motors' business scale, product quality and profitability have achieved great improvement. Within a year after its listing, BAIC Motor has become one of the most representative automobile enterprises from Mainland in Hong Kong capital market.
 | | BAIC Motor Received Two Honorable Awards in the First Year after Listing |
China Securities "Golden Bauhinia Awards", voted by authorities, experts and investors from both Mainland and Hong Kong capital markets, is the best-recognized award for listed companies in Mainland China, Hong Kong and Taiwan. The results of the award have become one of the most important reference for the investment market.
Excelling in competition with outstanding performance
BAIC Motor, established in September 2010, is a business development platform integrating resources for passenger vehicles of BAIC Group under the key support of Beijing Municipal Government. On 19 December 2014, the Company was listed on the main board of Hong Kong Stock Exchange. With approximately HK$11.88 billion being raised, BAIC Motor becomes the Chinese automobile manufacturer with the second highest funds raised in Hong Kong after China National Heavy Duty Truck Group.
Although it is less than a year since its listing, BAIC Motor has delivered outstanding performance under a sluggish environment of the automobile industry.
China's automobile market has been weak for recent two years. Particularly, since 2015, affected by the slowdown in China's economic development and severe fluctuation in the stock market, the growth of overall sales volume of passenger vehicles has dropped drastically. According to data released by China Association of Automobile Manufactures, for the first three quarters of this year, production and sales volume in China were 17,091,600 units and 17,056,500 units respectively, representing a year-on-year decrease of 0.8% in production while a slight increase in sales of 0.3%. In September, the national production volume of automobiles even decreased by 5.6% year on year.
However, BAIC Motor achieved outstanding performance against such downward trend. For the first three quarters, BAIC Motor realized revenue of RMB61.6 billion, representing an increase of 44.5%. In respect of sales data, an accumulative 175,000 units of Beijing Benz were sold for the first three quarters, representing a significant increase of 71.39%; a total of 11,300 units of new energy vehicles were sold, representing an increase of 1175.62%.
Such outstanding performance is the result of the joint contribution from the Company's three major brands, namely Beijing Brand, Beijing Benz and Beijing Hyundai. In respect of Beijing Brand, its new energy vehicles have maintained No. 1 in China in terms of sales volume; Beijing Benz has occupied the most market share in the Mainland luxury automobile market; and Beijing Hyundai has been the Top 4 among joint venture brands since 2012.
Future performance under the second five-year plan worth expecting
Not being complacent, BAIC Motor has formulated plans for the next five years. In this September, BAIC Motor announced its 2020 strategy "Plan n". President Li Feng interpreted the plan using three key words, namely "3", "1" and "4".
"3" means BAIC Motor, supported by its "Baic Senova" and "Baic Wevan", will strive to become one of the Top 3 domestic proprietary brands in China. Reportedly, "Baic Senova" will present its first generation of products to the markets, and will apply Benz platform and powertrain technology to its second generation of products; "1" means in the next five years, Beijing Benz will strive to become the top brand in the luxury automobile market in China, which recognizes to the strategic goal of Daimler claiming to resume the world's NO.1 position by 2020; "4" means till 2020, Beijing Hyundai's aim to maintain its NO.4 ranking among the joint venture brands in China.
"Putting forward such specific market objectives is based on the performance of BAIC Motor's 'first five-year plan'. And we need to take stock of the situation to implement deployment prior to the 'second five-year plan'." said Li.
BAIC Motor's three major businesses are believed to achieve greater performance with the market being under recovery and "Plan n" being implemented. BAIC Motor's future performance in capital markets is also worth expecting.
Li Feng expressed that, as the central government cancelled the traffic restriction and purchase limit on new energy vehicles and adjusted downward the purchase tax of small-displacement vehicles, the new energy vehicle market is believed to embrace huge development potential. BAIC Motor will capture the opportunities of such favorable policies to improve the sales of its new energy vehicles and to occupy a prime position in the market; meanwhile, with Cangzhou and Chongqing plants being put into operation, the business of Beijing Hyundai is believed to be great.
Establishing IR management center and setting up industry benchmark
In recent years, BAIC Motor has enjoyed great popularity among domestic and overseas investors, besides its development in proprietary brands vehicles manufacture, the main reason of which is BAIC Motor's sound investor relations management.
By adhering to the operating guideline of "adjusting structure, promoting transformation, expanding connotation, and achieving benefits", BAIC Motor officially established the investor relations management center ("IR management center") to build up a brand new image as a listed company in investor relations management and branding. Industry insiders expressed that, the IR management center, dedicating to establishing a highly efficient and innovative enterprise through tapping mature management experience from home and abroad and appointing talents with extensive management experience, manifests BAIC Motor's attaching great importance to capital markets and investors.
Reportedly, the IR management center, with clearly defined roles and scope of duties, will commit to realizing effective market value management and information disclosure, creating a great external enterprise environment and serving investors with full strengths through six major sectors, namely market value management, corporate governance construction, information disclosure, investor relations management, integration and dissemination, and re-financing in capital market. In this year, the Company organized 7 global roadshows and over 270 investor conferences, with the accumulative mileage reaching over 100,000 km. Additionally, the Company organized 20 plant visits and reverse roadshows to over 120 institutions in Beijing.
Yan Xiaolei, the Board Secretary and Director of the IR management center, stated that, establishing the IR management center is for improving investor services through focusing on capital markets expansion and investor relations management, which is planned under the perspective of corporate strategy, aiming to set up industry benchmark among listed automobile enterprises.
"Over the past year, investors recognized our great performance in the market. Based on BAIC Motor's highly developed business structure and strategic planning, together with our dedication to improving investor services, we have great confidence in continuing to achieve outstanding performance and attract more domestic and overseas investors." said Yan.
Topic: Press release summary
Sectors: Daily Finance, Automotive, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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