北汽蓝谷2024年净亏损近70亿，张国富讲脱口秀坦承销售压力

Core Viewpoint - North汽蓝谷 is facing significant financial challenges, with increasing losses despite a rise in revenue and sales volume, indicating a need for strategic changes and external funding to stabilize operations [1][2][3]. Financial Performance - In 2024, North汽蓝谷 reported revenue of 14.512 billion yuan, a year-on-year increase of 1.35%, but a net loss of 6.948 billion yuan, with a non-recurring net loss of 7.323 billion yuan, both losses widening compared to the previous year [1][2]. - For the first quarter of 2025, North汽蓝谷 achieved revenue of 3.773 billion yuan, a 150.75% increase year-on-year, but still recorded a net loss of 0.953 billion yuan, slightly less than the 1.016 billion yuan loss in the same period last year [3]. Sales and Market Performance - North汽新能源's sales reached 110,000 units in 2024, a 23.53% increase, with the 极狐 brand achieving 81,000 units sold, a remarkable 169.91% growth [2]. - Despite the sales growth, North汽蓝谷 is trapped in a cycle of increasing losses, with quarterly net losses escalating from 1.016 billion yuan in Q1 to 2.456 billion yuan in Q4 of 2024 [2]. Cost and Investment - The cost of goods sold for the vehicle business increased by 32.12% year-on-year due to higher material, labor, and manufacturing costs, contributing to the company's losses [2]. - Research and development expenses rose to 1.76 billion yuan in 2024, a 48.5% increase, primarily due to increased amortization of intangible assets [2]. Strategic Moves - North汽蓝谷 plans to issue up to 1.672 billion shares to raise no more than 6 billion yuan, with significant subscriptions from North汽集团 and 福田汽车, indicating a need for external capital to support operations [3]. - The company has accumulated losses of nearly 30 billion yuan over the past five years, necessitating strategic investments to improve cash flow [3]. Leadership and Marketing Strategy - 张国富, the new chairman of North汽新能源, is actively engaging in marketing efforts, including promotional events and social media outreach, to boost sales and connect with consumers [4][5]. - The company aims to achieve annual sales of 500,000 units by 2027, which is seen as essential for overcoming current financial challenges [5].