On 29 April 2024, Anhui Jianghuai Automobile Group Co., Ltd. (hereinafter referred to as "JAC Group") released the "JAC Group 2023 Annual Results Announcement" and the "JAC Group 2024 First Quarterly Report". According to the announcement, in 2023, JAC Group achieved a total operating revenue of 45.016 billion yuan, an increase of 23.07% year on year, and achieved a net profit attributable to shareholders of the listed company of 152 million yuan.In the first quarter of 2024, JAC Group achieved an operating revenue of 11.265 billion yuan, an increase of 4.61% year on year.
At present, the automobile industry is in a multi-technology innovation change, multi-industry integration and development of the transformation of the key period. Electrification, intelligence, network connectivity, ecology has become the direction of transformation and development of the automobile industry. In 2023, China's cumulative sales of new energy vehicles is 9,495,000 units, reaching the market share of 31.6%. Accelerating the transition to intelligent new energy vehicles is not only a "must answer question" for every automobile enterprise, but also a "knockout game" that determines the future destiny of automobile enterprises.
In 2023, JAC Group will invest a total of 2.235 billion yuan in R&D, an increase of 21.92% year on year, to strengthen the transformation of scientific and technological achievements and accelerate the formation of new productivity.
In April 2023, JAC Group released a new brand strategy, established the brand value of "Guiding Intelligence with Intelligence", and constructed the brand value of "CoreTechnology by Self-Research" + "Key and Common Technologies". The JAC Group hasestablished the brand value of "Guiding Intelligence with Inteligence" andconstructed the development path of "Core Technology by Self-Research" + "Key andCommon Technologies"to build open and co-operative intelligent vehicleecosystem.
In terms of intelligent technology, in the field of intelligent architecture, the JAC Group has completed the construction of a low-cost domain-centralised architecture platform and a high-performance computing and communication architecture platform; in the field of intelligent driving, the JAC Group has upgraded the iteration of intelligent driving, and the L2+ products have been put into operation in batches, and the core technology of highly automated driving has been applied to the models of automated minibus and unmanned logistics vehicle; In the field of intelligent carbin, the JAC Group has an open software ecosystem that supports personalised interaction experience such as one-touch connection and one-touch transmission between mobile phone and car; in the field of intelligent service, the JAC Group has already completed the development of mobile APP OTA upgrade and system pressure automation test, and applied them to some models.
Under the continuous strengthening of technical achievements, in 2023, JAC Group achieved more than double-digit positive sales growth in commercial vehicles, passenger cars and buses. Among them, cumulative sales of commercial vehicles totalled 231,100 units, up 18.34% year on year; cumulative sales of passenger cars totalled 357,100 units, up 18.21% year on year; and cumulative sales of buses totalled 4,323 units, up 41.14% year on year.
In 2024, Refine RF8, an MPV equipped with Huawei's car system, was officially launched. Since its launch, it has been well favored by consumers and has achieved batch deliveries in several places across the country with increasing sales.
In 2023, the exports of China's auto will overtake Japan for the first time to become the world's leading auto exporter. As competition in the domestic auto market intensifies, auto exports have become a new growth engine for auto companies. In 2023, JAC Group's international business seized the opportunity and rode on the momentum, exporting a total of 169,600 vehicles in the year, up 47.99% year on year, of which 134,000 vehicles were delivered to "The Belt and Road" co-construction countries, up 63.7% year on year, and the scale and efficiency of overseas business achieved double growth and continued to consolidate its position in the overseas market. In the first quarter of 2024, the JAC Group exported a total of 57,600 vehicles, a year-on-year increase of 24.75%.
In June 2023, BrandZ, a global ranking of famous brands, together with Google, released the list of "2023 Google X Kantar BrandZ Top 50 Chinese Globalised Brands", and JAC was ranked 36th among Chinese globalised brands, honoured to be on the prestigious list for the third consecutive year.
As one of the pioneers of China's automotive industry going overseas, since 1990, JAC Group has spread its footprints to 132 countries and regions across five continents, with total sales of nearly 1.4 million vehicles, and has established 4 wholly-owned subsidiaries, 3 joint ventures and 19 overseas KD factories overseas, which has continued to inject new energy into its own steady growth as well as the global glory of China's automobiles.
In 2023, while insisting on independent development, JAC Group accelerated the process of opening up and cooperation, and continued to create new potential energy for development.
In December 2023, JAC Group and Huawei Terminal signed the "Intelligent New Energy Vehicle Co-operation Agreement", which attracted attention from all fields of society. The two sides will rely on Huawei's intelligent car solutions in product development, manufacturing, sales, service and other areas of comprehensive cooperation to create a luxury intelligent connected electric vehicles.
On the eve of the 2024 Beijing International Auto Show, JAC Group and Huawei Digital Energy signed a comprehensive strategic cooperation agreement in Beijing. The two sides will work together to create competitive products that pursue the ultimate user vehicle driving experience, build an industrial ecosystem, and promote the high-quality development of the new energy automotive industry.
At the same time, JAC Group will continue to deepen the layout of joint ventures and cooperation in the field of intelligent new energy automotive industry chain, and further strengthen technological innovation and application in software technology, intelligent driving, intelligent carbin and other aspects.
