BAIC BluePark(SH:600733) Xin Lang Cai Jing·2026-01-09 12:28Core Insights - The company reported a significant increase in vehicle sales, with December sales reaching 35,200 units, a year-on-year increase of 114.56% [1][2] - Cumulative sales for the year 2025 reached 209,600 units, reflecting an 84.06% year-on-year growth [2] Sales Performance - Both the brands Jihu and Xiangjie achieved record monthly sales, with Jihu surpassing 160,000 units for the year and Xiangjie reaching 10,000 units in December, marking a historical high for the brand [2] - The fourth quarter of 2025 saw a single-quarter sales figure of 98,100 units, a year-on-year increase of 113.16% [2] Product Development - The Jihu Alpha S (L3 version) became one of the first two L3 autonomous driving models approved in China, marking a significant milestone for the company [3] - The company plans to launch multiple new models in 2026, including the Jihu S3 and a luxury MPV, which are expected to drive further sales growth [4] Sales Network Expansion - The company is accelerating its sales outlet expansion, with a target of 320 outlets by the end of 2024 and 547 by the end of November 2025 [4] Financial Projections - The company maintains a "buy" rating, with projected revenues of 28.06 billion, 58.39 billion, and 84.72 billion yuan for 2025-2027, representing year-on-year growth rates of 93.34%, 108.12%, and 45.09% respectively [5]