BAIC BluePark(SH:600733) Sou Hu Cai Jing·2025-06-19 07:53Core Viewpoint - The report indicates that Beiqi Blue Valley Company experienced an expanded loss in 2024, with a slight increase in revenue but significant declines in net profit and profit margins [4]. Financial Performance - In 2024, Beiqi Blue Valley's operating revenue was 14.512 billion yuan, a year-on-year increase of 1.35% [1]. - The net profit attributable to shareholders was -6.948 billion yuan, a year-on-year decrease of 28.67% [1]. - The non-recurring net profit attributable to shareholders was -7.323 billion yuan, down 21.69% year-on-year [1]. - Basic earnings per share were -1.25 yuan [1]. - The gross margin for 2024 was -11.64%, a decline of 3.67% compared to the previous year [1]. - The net profit margin was -47.36%, a decrease of 9.89% year-on-year [1]. Expense Analysis - Total operating expenses for 2024 were 4.909 billion yuan, an increase of 425 million yuan from the previous year [1]. - The expense ratio was 33.83%, up 2.51% year-on-year [1]. - Sales expenses decreased by 8.88% year-on-year, while management expenses increased by 6.86% [1]. - Research and development expenses rose by 48.50% year-on-year, and financial expenses decreased by 7.97% [1]. Workforce Information - The number of employees in 2024 was 4,466, an increase of 576 employees or 14.81% compared to the end of the previous year [1]. Executive Compensation - In 2024, the total remuneration for directors, supervisors, and senior management was 17.06 million yuan [3]. - The financial director, Song Jun, received a salary of 1.54 million yuan, which is higher than the chairman Zhang Guofu's salary of 1.5 million yuan [3]. Company Background - Beiqi Blue Valley New Energy Technology Co., Ltd. is located in Beijing Economic and Technological Development Zone and was established on October 6, 1992 [5]. - The company was listed on August 16, 1996, and its main business involves the research, development, production, sales, and service of pure electric new energy passenger vehicles and core components [5].