On April 26, BAIC Blue Valley released its 2023 annual report and 2024 quarterly report. The annual report shows that the total operating revenue of BAIC Bluevale reached 14.319 billion yuan, a year-on-year increase of 50.50%. The cash flow from operating activities has improved, and the overall performance shows a continuous warming trend.

In 2023, BAIC Bluevale will sell 92172 vehicles, an increase of 84% year on year. Among them, the high-end smart electric vehicle brand Jihu created by BAIC Blue Valley has become the main driving force for sales growth. According to the data, Jihu sold 30016 new cars in 2023, a year-on-year increase of 138%, which doubled compared with 2022. The brand recognition and market position were improved.

In 2023, the launch rate of new products of Jihu will be accelerated, and many models such as the advanced version of Jihu Alpha S, the forest version of Jihu Alpha S/T, the koala of Jihu, and the T5 of Jihu Alpha will be intensively launched.

At the marketing level, BAIC Bluevale has achieved effective coverage of major markets by continuously strengthening the construction of Jihu channels and service networks. By the end of last year, Jihu brand added 58 channel outlets throughout the year, and the cumulative number of operating outlets reached 244. In 2023, the sales volume of Jihu cars will reach 30000 for the first time.

In April this year, BAIC Group put forward the idea of "craftsman centered technology empowering quality equality", and announced the value proposition of continuously increasing investment in smarter, more energy-saving and safer areas with a cumulative investment of 100 billion yuan, and continuously creating a steady stream of scientific and technological innovation achievements to drive quality improvement and achieve quality equality.

BAIC Bluevale adheres to the "long-term principle", sticks to the brand's original intention of "born to break the boundaries, extremely intelligent protection", and constantly increases R&D investment. In 2023, BAIC Bluevale will invest 2.2 billion yuan in R&D, accounting for 15% of operating revenue.

Relying on BAIC Group's 66 years of car building experience and 15 years of new energy development experience, BAIC Blue Valley has rich technology accumulation and strong R&D and innovation capabilities.

On April 11, BAIC Blue Valley held the Darwin 2.0 technology brand conference, which comprehensively demonstrated the technology system for the new era. Based on IMC architecture, Darwin 2.0 technology system comprehensively includes many cutting-edge technology sectors, such as Aurora battery, Jifeng power, Lingyun chassis, Lingzhi intelligence, Jixiang cockpit, Jidun safety and Jijing health.

In March this year, BAIC Bluevale announced to establish a joint venture with Ningde Times and Xiaomi Motors to build a battery cell factory. Ningde Times is the battery manufacturer with the highest installed capacity in the world, and its battery performance and quality have already been recognized by the market.

In addition to the Ningde era, Huawei is also one of the "old friends" of BAIC Bluevale. At this year's Beijing Auto Show, the advanced version PRO of Jihu Alpha S jointly built by the two sides came into the market. The new car is equipped with three laser radars and equipped with ADS2.0 high-level intelligent driving auxiliary system, which once again consolidated the position of intelligent driving ceiling in the industry. At the same time, the first smart choice model jointly built by BAIC Blue Valley and Huawei, the Sharing S9, was officially unveiled and attracted many eyes.

As a result, BAIC Bluevale has become the only car company to achieve "HI+Smart Selection" dual mode cooperation with Huawei, which fully reflects the leading position of the enterprise in the field of intelligence, and also opens the market's imagination for the performance trend of BAIC Bluevale.

Under the joint promotion of policies and markets, the new energy vehicle industry continues to maintain a rapid growth momentum. Data shows that in 2023, the production and sales of new energy vehicles in China will reach 9.587 million and 9.495 million respectively, with year-on-year growth of 35.8% and 37.9% respectively. The Passenger Transport Association predicted that the market penetration rate of new energy vehicles will further increase in 2024, and is expected to reach 40%.

According to the plan, in 2024, Jihu will also launch 2024 Alpha T&Alpha S models, as well as reinforce and upgrade other models on sale to form a strong product matrix. The comprehensive market competitiveness will be comprehensively improved again, providing a strong support for expanding the market and ensuring the volume.

In terms of marketing channels, BAIC Bluevale's sales and service network will continue to expand in 2024, while optimizing the dealer structure, making full use of word-of-mouth marketing, digital marketing and other emerging means to establish a competitive advantage, and promoting the steady growth of sales.