海马汽车年报又现困局：营收下滑三成，产销量“腰斩”，新能源转型何去何从

Core Viewpoint - Haima Automobile's 2024 annual report reveals significant challenges during its transformation phase, with a 30.28% decline in revenue and a net loss of 1.4 billion yuan, although the loss has narrowed compared to the previous year [1] Group 1: Financial Performance - The company's operating revenue for 2024 was 1.78 billion yuan, down 30.28% year-on-year [1] - The net profit attributable to shareholders improved from a loss of 202 million yuan to a loss of 140 million yuan [1] - The non-recurring net profit loss expanded from 323 million yuan to 406 million yuan, indicating deeper concerns about the company's ability to generate sustainable profits [1][3] Group 2: Product and Market Strategy - Haima's main products include the Haima 7X-E, Haima 7X, and Haima 8S, targeting both domestic and overseas markets [2] - The Haima 7X-E is the company's first smart electric vehicle with a range of 510 km, while the Haima 8S is a compact smart SUV [2] - The company faced a significant decline in sales volume, particularly in MPV and SUV segments, due to intensified competition in the automotive market [2] Group 3: Sales and Marketing Challenges - Despite a reduction in revenue, sales expenses increased by 26.43%, indicating a mismatch between marketing investment and sales performance [3] - The total production for 2024 was only 12,025 vehicles, with sales at 15,497 units, reflecting a severe decline in market presence [3] - The company's strategy of cautiously advancing overseas business led to a reduction in production and sales scale, highlighting the challenges traditional automakers face during transformation [2][3] Group 4: New Energy Transition - The report mentions progress in hydrogen vehicle projects, with two demonstration projects set to operate in 2024 [4] - However, the overall production and sales of all vehicle products saw significant declines, with domestic production down 61.47% and sales down 40.69% [3] - The disconnect between strategic direction and financial performance raises concerns about the effectiveness of the new energy transition [3][4]