Investment Rating - The report maintains an "Accumulate" rating for the company [2][10]. Core Views - The company has shown significant improvement in sales and revenue, with a notable reduction in per-vehicle losses. In Q3 2024, the company achieved a revenue of 6.077 billion yuan, representing a year-on-year increase of 71.8% and a quarter-on-quarter increase of 171.7%. However, the net profit attributable to shareholders was a loss of 1.920 billion yuan, which is an increase in losses compared to previous periods [3][4]. - The company's overall sales volume reached 39,800 vehicles in Q3 2024, marking a year-on-year increase of 103.6% and a quarter-on-quarter increase of 122.7%. The average sales price per vehicle was 152,500 yuan, showing a slight decrease year-on-year but an increase quarter-on-quarter [4]. - The report highlights the improvement in the company's cost control capabilities, with sales, management, R&D, and financial expense ratios showing a decrease compared to previous periods [4]. - The company's core brand, Extreme Fox, has seen a significant increase in sales, with Q3 2024 sales reaching 28,900 vehicles, a year-on-year increase of 339.9% and a quarter-on-quarter increase of 94.9% [4]. - The collaboration with Huawei on the high-end brand Enjoy has started to contribute to performance, with the first product, S9, officially delivered in August 2024 [4]. Financial Summary - For the first nine months of 2024, the company reported a total revenue of 9.818 billion yuan, a year-on-year increase of 5.5%. The net profit attributable to shareholders was a loss of 4.491 billion yuan, which is a widening loss compared to the previous year [3]. - The report provides updated profit forecasts, estimating revenues of 19.803 billion, 46.314 billion, and 56.630 billion yuan for 2024, 2025, and 2026 respectively, with year-on-year growth rates of 38%, 134%, and 22% [4][8]. - The estimated net profit attributable to shareholders for the same periods is projected to be losses of 6.271 billion, 3.708 billion, and a profit of 0.952 billion yuan, indicating a trend of increasing losses followed by a potential turnaround [4][8].

证券代码：600733 证券简称：北汽蓝谷 公告编号：临 2024-070 董事会 2024 年 11 月 2 日 北汽蓝谷新能源科技股份有限公司 子公司2024年10月份产销快报 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性 承担法律责任。 北汽蓝谷新能源科技股份有限公司子公司 2024 年 10 月份产销快报如下： | 单位 | 产量（辆） | | | | | | 销量（辆） | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 本月数 | 去年同期 | 本年累计 | 去年累计 | 累计同比 本月数 增减 | 去年同期 | 本年累计 | 去年累计 | 累计同比 增减 | | 北京新能源汽车 股份有限公司 | 12384 | 4768 | 67905 | 16388 | 314.36% 14405 | 7014 | 82254 | 61767 | 33.17% | | 合计 | 12384 | 4768 | 67905 | 16388 | 314.3 ...

证券代码：600733 证券简称：北汽蓝谷 公告编号：临 2024-067 北汽蓝谷新能源科技股份有限公司 十届二十八次董事会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担法律责任。 详见公司同日披露的《关于子公司使用部分闲置募集资金暂时补充流动 资金的公告》（公告编号：临 2024-069）。 表决结果：11 票同意，0 票反对，0 票弃权。 出席会议董事逐项审议并通过以下议案： 一、审议通过《关于 2024 年第三季度报告的议案》 同意公司《2024 年第三季度报告》。 董事会审计委员会对本议案进行了事前审核并发表了同意的审核意见。 详见公司同日披露的《2024 年第三季度报告》。 表决结果：11 票同意，0 票反对，0 票弃权。 二、审议通过《关于子公司使用部分闲置募集资金暂时补充流动资金的 议案》 同意子公司北京新能源汽车股份有限公司在确保不影响募集资金投资 项目进度、不影响正常生产经营及确保资金安全的前提下，使用额度不超过 人民币 130,000.00 万元（含本数）的闲置募集资金暂时补充流动资金，使 用期限自公司董 ...

Financial Performance - The company's operating revenue for Q3 2024 reached ¥6,077,199,953.74, representing a year-on-year increase of 71.78%[3] - The net profit attributable to shareholders was -¥1,920,085,065.45, with a year-to-date net profit of -¥4,491,475,852.96[3] - The basic and diluted earnings per share for the quarter were both -¥0.34, reflecting a significant loss compared to the previous period[3] - Total operating revenue for the first three quarters of 2024 reached ¥9,818,378,183.97, an increase of 5.5% compared to ¥9,307,829,090.64 in the same period of 2023[13] - In the first three quarters of 2024, the company reported a net loss of approximately CNY 4.43 billion, compared to a net loss of CNY 3.23 billion in the same period of 2023, representing an increase in loss of about 37%[15] - The company's operating profit for the first three quarters of 2024 was a loss of CNY 4.43 billion, compared to a loss of CNY 3.25 billion in the first three quarters of 2023, indicating a worsening operational performance[15] - Basic and diluted earnings per share for the first three quarters of 2024 were both CNY -0.81, compared to CNY -0.67 in the same period of 2023, reflecting a decline in per-share performance[16] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥32,861,186,475.57, an increase of 6.69% from the end of the previous year[3] - Total liabilities as of September 30, 2024, were ¥30,335,368,960.54, compared to ¥23,842,577,822.41 at the end of 2023, indicating a year-on-year increase of 27.5%[12] - Non-current liabilities totaled ¥7,216,850,162.97 as of September 30, 2024, compared to ¥4,370,206,604.44 at the end of 2023, marking a 64.5% increase[12] - The company's equity attributable to shareholders decreased by 71.44% to ¥1,796,843,528.80 compared to the end of the previous year[3] - The company's equity attributable to shareholders decreased to ¥1,796,843,528.80 from ¥6,290,857,860.72, a decline of 71.4%[12] Cash Flow - The company experienced a cash flow increase from operating activities due to higher sales revenue, although specific figures were not disclosed[5] - The company experienced a net cash outflow from operating activities of CNY 975 million in the first three quarters of 2024, an improvement from a net outflow of CNY 2.13 billion in the same period of 2023[17] - Investment activities resulted in a net cash outflow of approximately CNY 969 million in the first three quarters of 2024, compared to a net outflow of CNY 391 million in the same period of 2023, indicating increased investment expenditures[18] - Cash inflow from financing activities totaled approximately $6.65 billion, a decrease from $15.26 billion in the previous period, indicating a decline of about 56.4%[19] - Net cash flow from financing activities was negative at approximately -$182.75 million, contrasting with a positive cash flow of $5.14 billion in the prior period[19] - The ending balance of cash and cash equivalents was approximately $2.77 billion, down from $5.28 billion at the end of the previous period, representing a decrease of about 47.5%[19] - The company's cash and cash equivalents decreased to ¥3,716,262,401.24 from ¥5,844,795,279.70, a decline of 36.4%[10] Shareholder Information - The total number of common shareholders at the end of the reporting period was 324,273[6] - Beijing Automotive Group Co., Ltd. holds 1,283,470,158 shares, accounting for 23.03% of the total shares[6] - The top ten shareholders collectively hold 46.37% of the company's shares, with Beijing Automotive Group being the largest shareholder[6] - Guangdong Huahui Chuangfu Investment Management Co., Ltd. - Huahui Zunxiang Fund was a new addition to the top ten shareholders, holding 23,316,100 shares, which is 0.42%[8] Research and Development - The company reported a significant increase in R&D and brand channel construction investments, contributing to the net loss[5] - Research and development expenses for the first three quarters of 2024 amounted to ¥1,097,600,785.98, a significant increase of 44.5% compared to ¥759,235,118.34 in the previous year[13] Operational Highlights - The company has no significant changes in the operational situation during the reporting period that need to be highlighted[9] - There are no audit opinion types applicable for the quarterly financial statements[9] - The company continues to focus on expanding its market presence and investing in new technologies despite the current financial challenges[5] Other Financial Metrics - Non-recurring gains included government subsidies amounting to ¥9,461,764.19 for the current period[4] - The company recorded an investment loss of CNY 39.52 million in the first three quarters of 2024, a significant decline from an investment gain of CNY 105 million in the same period of 2023[15] - The company reported a decrease in financial expenses to CNY 286 million in the first three quarters of 2024, down from CNY 333 million in the same period of 2023, showing a reduction of approximately 14%[15] - The company’s other comprehensive income after tax showed a loss of CNY 2.52 million in the first three quarters of 2024, compared to a loss of CNY 16.93 million in the same period of 2023, indicating an improvement in comprehensive income performance[15] Reporting and Compliance - The report was published by the Board of Directors of BAIC Blue Valley New Energy Technology Co., Ltd. on October 30, 2024[21] - The company did not apply new accounting standards or interpretations for the first time in the current financial statements[21]

中信建投证券股份有限公司 关于北汽蓝谷新能源科技股份有限公司 子公司使用部分闲置募集资金暂时补充流动资金 的核查意见 中信建投证券股份有限公司（以下简称"中信建投"或"保荐人"）作为北 汽蓝谷新能源科技股份有限公司（以下简称"北汽蓝谷"或"公司"）向特定对 象发行股票的保荐人，根据《证券发行上市保荐业务管理办法》《上海证券交易 所股票上市规则（2023 年修订）》《上市公司监管指引第 2 号——上市公司募集 资金管理和使用的监管要求》《上海证券交易所自律监管指引第 11 号——持续督 导》等有关规定，对公司子公司北京新能源汽车股份有限公司（以下简称"北汽 新能源"）拟使用部分闲置募集资金暂时补充流动资金的事项进行了核查，具体 情况如下： 一、募集资金基本情况 经中国证券监督管理委员会《关于同意北汽蓝谷新能源科技股份有限公司向 特定对象发行股票注册的批复》（证监许可[2023]851 号）同意注册，公司获准 向特定对象发行不超过 1,286,193,039 股，最终实际发行数量为 1,286,193,039 股， 每股面值人民币 1.00 元，每股发行价格为人民币 4.70 元，募集资金总额为人民 币 6,04 ...

证券代码：600733 证券简称：北汽蓝谷 公告编号：临 2024-069 公司于 2024 年 10 月 30 日召开十届二十八次董事会、十届二十二次监 事会审议通过了《关于子公司使用部分闲置募集资金暂时补充流动资金的 议案》，同意子公司北汽新能源在确保不影响募集资金投资项目进度、不影 响正常生产经营及确保资金安全的前提下，使用额度不超过人民币 130,000.00 万元（含本数）的闲置募集资金暂时补充流动资金，使用期限 自公司董事会审议通过之日起不超过 12 个月。监事会及保荐人中信建投证 券股份有限公司（以下简称"保荐人"）对上述事项发表了明确的同意意见。 一、募集资金基本情况 经中国证券监督管理委员会《关于同意北汽蓝谷新能源科技股份有限 公司向特定对象发行股票注册的批复》（证监许可[2023]851 号）同意注册， 公司获准向特定对象发行不超过 1,286,193,039 股，最终实际发行数量为 1,286,193,039 股，每股面值人民币 1.00 元，每股发行价格为人民币 4.70 元，募集资金总额为人民币 6,045,107,283.30 元，扣除不含税发行费用人 民币 14,745,764. ...

证券代码：600733 证券简称：北汽蓝谷 公告编号：临 2024-068 北汽蓝谷新能源科技股份有限公司 十届二十二次监事会决议公告 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担法律责任。 北汽蓝谷新能源科技股份有限公司（以下简称"公司"）十届二十二次 监事会于 2024 年 10 月 18 日以邮件方式发出会议通知，于 2024 年 10 月 30 日以通讯表决方式召开。本次会议由监事会主席召集并主持，应出席会议监 事 4 名，实际出席会议监事 4 名。会议的召开符合《中华人民共和国公司法》 及《公司章程》的有关规定。 经出席会议监事对议案进行认真审议，形成如下决议： 3、在公司监事会提出本意见前，未发现参与公司 2024 年第三季度报告 编制和审议的人员有泄漏报告信息的行为。 同意公司《2024 年第三季度报告》。 详见公司同日披露的《2024 年第三季度报告》。 表决结果：4 票同意，0 票反对，0 票弃权。 一、审议通过《关于 2024 年第三季度报告的议案》 监事会对公司 2024 年第三季度报告进行认真审议，形成如下审核 ...

北汽蓝谷新能源科技股份有限公司（以下简称"公司"）于 2023 年 10 月 27 日召开十届十八次董事会、十届十四次监事会，审议通过了《关于子 公司使用部分闲置募集资金暂时补充流动资金的议案》，同意子公司北京新 能源汽车股份有限公司（以下简称"北汽新能源"）在确保不影响募集资金 投资项目进度、不影响正常生产经营及确保资金安全的前提下，使用额度不 超过人民币 154,700.00 万元（含本数）的闲置募集资金用于暂时补充流动 资金，使用期限自公司董事会审议通过之日起不超过 12 个月。公司独立董 事、监事会及保荐人中信建投证券股份有限公司对上述事项发表了明确的同 意意见。具体详见公司于 2023 年 10 月 28 日在上海证券交易所网站 （www.sse.com.cn）披露的《北汽蓝谷新能源科技股份有限公司关于子公司 使用部分闲置募集资金暂时补充流动资金的公告》（公告编号：临 2023-070）。 子公司北汽新能源已于 2024 年 10 月 25 日将用于暂时补充流动资金的 闲置募集资金 154,700.00 万元全部归还至募集资金专户，使用期限未超过 12 个月，并将归还情况通知了公司的保荐人中信建投证 ...

证券代码：600733 证券简称：北汽蓝谷 编号：2024-007 北汽蓝谷新能源科技股份有限公司 2024年10月21日投资者关系活动记录表 | --- | --- | |-----------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | 投资者关系 \n活动类别 | □特定对象调研 ■分析师会议 □媒体采访 □业绩说明会 □新闻发布会 \n■路演活动 ■现场参观 □其他（） | | 参与单位 | 方正证券、中信证券、国盛汽车、海通证券、平安汽车、德邦证券、瑞银 ...

证券代码：600733 证券简称：北汽蓝谷 公告编号：临 2024-065 监事会 2024 年 10 月 18 日 公司及公司监事会对焦枫女士任职期间的勤勉工作及对公司发展做出 的贡献表示衷心感谢！ 特此公告。 北汽蓝谷新能源科技股份有限公司 北汽蓝谷新能源科技股份有限公司 关于监事辞职的公告 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担法律责任。 北汽蓝谷新能源科技股份有限公司（以下简称"公司"）监事会于近日 收到监事焦枫女士递交的辞职报告，焦枫女士因工作原因申请辞去公司监 事职务，其辞职后不再担任公司任何职务。 根据相关法律、法规和《公司章程》的规定，焦枫女士的辞职未导致公 司监事会成员低于法定最低人数，其辞职不会影响公司监事会依法规范运 作，该辞职报告自送达公司监事会之日起生效。公司将按照相关法律、法规 和《公司章程》的规定，尽快完成监事的补选工作。 ...