Can the forgotten seahorse make money without selling cars?

After a painful reshuffle of the industry, just when everyone felt that they had come out of the darkness, I didn't expect the main theme of the story to remain unchanged. For many independent car companies that have been forgotten by the market, whether it is the 20 19 that buried the glory of the past or the 2020 that is unable to move in the epidemic, the original car market pattern of a hundred schools of thought has been truly and cruelly torn.

Looking back on the past year, with the intensification of competition in the industry, Haima, which was gradually forgotten, did everything possible to get rid of the predicament, from the return of the founder, selling a house to survive, to creating another sales model, and even going overseas. Although the sales volume of Haima has not improved today, judging from its recently published annual report, the final result of "turning losses into profits" can be regarded as a good explanation for this "veteran".

Specifically, during the entire reporting period, Haima Automobile achieved operating income of 469.5438 billion yuan, down 7.06% year-on-year; The net profit attributable to shareholders of listed companies is 85196,200 yuan. This seemingly small profit, if you look at the loss of 654.38+637 million yuan in the same period of last year, is full of weight.

What else can you sell besides cars?

Lifan and Huatai were out, Zotye and Cheetah almost fell. It can be seen that the day of 20 19 wrapped in cold wind is very difficult for many weak independent car companies. This situation is also a suffocating game for the declining Haima car. Therefore, when the pressure faced by the automobile industry is further increased, the main economic benefit indicators of Haima automobile industry show a negative growth trend.

Although the operating cost of Haima in 20 19 was 4.45 billion, it decreased by 5.3% year-on-year, which was lower than the decrease of operating income of 7. 1%, and the gross profit margin decreased by 1.8%. During the period, the expense rate was 265,438+0.4%, which was 8% lower than last year. The cost control effect was remarkable, and the operating cash flow decreased from 490 million to-58.264 million, down 65,438+065,438+0.9% year-on-year. In this period, R&D investment was 680 million, a year-on-year decrease of 28.4%. The capitalization rate of R&D investment is 83.3%, which is relatively high.

On the other hand, even though 20 19 is the first year of Haima's fourth venture, it is also a key year for category strategy innovation and promotion, but since the beginning of the year, all kinds of "lace" news have been around Haima.

In order to save the performance loss situation, "selling a house" has first become an important measure for Haima to save itself. According to its earliest announcement on the progress of selling some idle properties, the company has sold 344 sets of properties and collected 654.38+62 million yuan. Subsequently, in order to sell its other two subsidiaries, Haima and Qingfeng Real Estate signed the Capital Increase Agreement of Henan Haima Property Service Co., Ltd. in Zhengzhou, and Qingfeng Real Estate increased its capital by 65.438+0.8 billion yuan in cash.

Obviously, no matter what definition the outside world will give to the management of Haima, the income from selling a house is indeed a gift to the already stretched Haima. In addition, in order to make up for the loss loopholes dug in the previous two years, by the end of the third quarter, Haima transferred its 0/00% equity of Shanghai Haima Automobile R&D Co., Ltd./Kloc-0 to Ruizhishang Industry at a price of 806 million yuan plus the profit and loss price from the equity trading base date to the equity delivery date.

For the survival of selling houses, the hippocampus seems to be rushing, but in fact it is also releasing some market signals behind it. At the moment when the product end is gradually declining and the new energy market is mixed, Haima knows that the losses in successive years are unbearable, and there will be the risk of delisting for two consecutive years. Because of this, everything the hippocampus has done is worthwhile.

Of course, like many independent car companies, Haima turned positive in the fourth quarter of 20 19 and created a net profit of 287 million yuan, and it has never been out of the shelter of government subsidies.

Even though Haima has been unable to break through in the new energy market for many years, its "combination boxing" in the fields of high-tech hybrid powertrain, variable electric platform, high-efficiency three-electricity, intelligent network connection and automatic driving still makes its name appear in the list of enterprises to be supported by Zhengzhou new energy vehicle promotion and application subsidy funds announced by Zhengzhou Municipal Bureau of Industry and Information Technology.

Everyone in this industry is really changing. Some people have changed from "grassroots" to the leaders of China automobile enterprises, but some people will fall down or even die in this battle. In fact, no one wants to read too much about how these independent car companies sell their assets and continue their lives by subsidies, because the market scouring sand year after year will eventually make the weak who turn a blind eye to the changes of the times re-examine the world.

What to save "return to zero" 2020?

The slowdown of macro-economic growth, Sino-US trade disputes and the upgrading of the national six emission standards have led to the sluggish consumption of China's automobile industry. Yes, this is a fact of all practitioners, but it should not be an excuse for you to cover up the past.

The data shows that the sales volume of Haima Automobile in 20 19 was 29,400 vehicles, down 564,438+0% year-on-year. Among them, the sales volume of basic passenger cars was 2046, down 90.95438+0% year-on-year; The sales volume of MPV was 79 1 vehicle, down 78.26% year-on-year; The sales volume of SUVs was 25,600 units, down 38.15% year-on-year; Cross passenger car sales 1003.

Undoubtedly, these figures are uncovering the crux of the lack of hippocampus in the product end, and at the same time, it is announced to the outside world that the new model Haima 8S launched in July last year did not bring a glimmer of hope to Haima. With the increasing differentiation of the whole independent SUV market, the monthly sales volume of 8S is only 1000, and the turning point has almost lost in the following days.

Judging from the existing information, in addition to the MPV model 7X, Haima 6P will be another heavyweight model that Haima plans to put on the market this year. As can be seen from its overall size and appearance, this brand-new model is more like a slightly modified work of the second generation S5.

Only 6P power system will be equipped with HMA? The 1.2T turbocharged engine of GA 12-YF 1 is matched with a driving motor. With the blessing of this power system, the comprehensive fuel consumption of the new car 1.38L 100 km will reach the level of Chuanqi GS4? Opponents of the PHEV level.

In view of the small market capacity of autonomous MPV and hybrid autonomous SUV, whether it is 7X or 6P, it is still open to question to get a share in the market where Geely, Guangzhou Automobile and other experts gather. On the whole, the stagnation of Haima and the difficulty in producing new products make its overall prospect in China auto market extremely bleak.

Fortunately, with the trend of Southeast Asian auto market showing kindness to China auto companies, we can see that it is pushing its 7X right rudder version, Haima 8S, Haima E 1 electric car and other models to Haima in India, and there are even greater ambitions.

In fact, since 2006, Haima has completed the layout of more than 20 countries in five major sectors: Eastern Europe, Central and South America, the Middle East, Africa and Southeast Asia, and built KD factories in Russia and the Middle East, initially establishing a global sales network and service system. In the Asian plate, Haima has also completed the research on several right-hand steering markets such as India, Malaysia, Indonesia and Thailand, and is ready to enter the Southeast Asian market with electric vehicles and 7X as the main breakthroughs.

I have to admit that under the guidance of Zhu Jing, the lost hippocampus can never return to the peak of the past. Even in the context of industrial restructuring and reshuffle, the hippocampus has not given up. However, the nearly "zero" production and sales data since 2020, the independence of Xpeng automobile and the sequelae caused by the epidemic will make the hippocampus face a much more cruel reality than in 20 19.

Last year, Haima summarized the following achievements: more efficient product research and development, more hard-core powertrain, more mature technology platform, new energy innovation breakthrough, export business facing difficulties, and Internet direct sales achieved initial results. And this performance turned losses into profits, which also means that the hippocampus is "protecting the shell". However, when we re-examine this terrible start in 2020, we can't help asking, on this basis, what kind of courage and strength does Haima have to take to gain a safe foothold in this already stormy China auto market?

Text/Cao Jiadong

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This article comes from car home, the author of the car manufacturer, and does not represent car home's position.