China Yongda Automobiles Services Holdings Ltd. · HKEX:3669
China Yongda Automobiles Services — H1 2022 Earnings Presentation
38 slides from China Yongda Automobiles Services's earnings presentation, August 2022
Slide 1: 2022 Interim Results Presentation
2022 Interim Results Presentation 2022年中期业绩演示材料 China Yongda Automobiles Services Holdings Limited 中国永达汽车服务控股有限公司 Stock Code 股票代码 : 03669.HK
Slide 2: Disclaimer
Disclaimer The slides/materials used in this presentation are strictly confidential and are being furnished to you solely for your information and may not be taken away, reproduced, redistributed, published, or transmitted directly or indirectly to any other person (whether within or outside your or
Slide 3: Performance Overview
Performance Overview During the performance period, due to the serious impact of the domestic epidemic expansion and the closure of Shanghai, the company achieved interim comprehensive income of RMB 31.986 billion and comprehensive gross profit of RMB 3.675 01 billion, a year-on-year decrease of 22.
Slide 4: Contents
CONTENTS 01 Company Overview 05 Digital Construction 02 Performance Review 06 Financial Analysis 03 Independent New Energy Vehicles Business 07 Business Development Strategies 04 Pre-owned Vehicles Business
Slide 5: Company Overview
PART - ONE Company Overview
Slide 6: 1.1 Company Overview
1.1 Company Overview Focus on developing luxury and ultra-luxury brands. 241 Outlets Operating in 2022 1H Accelerate the development of NEV brands Luxury and Ultra-luxury brands Mid-high end brands NEV brands Pre-owned Vehicles malls 奔驰 23 15 Other luxury & 46 BMW 71 157 ultra-luxury brands 67 …… ……
Slide 7: Performance Review
PART - TWO Performance Review
Slide 8: 2.1 Continuous Optimization and Improvement of Network
2.1 Continuous Optimization and Improvement of Network Outlets List 2022 1H Newly opened 6 outlets Authorized outlets of key luxury brands Authorized June 30, 2022 outlets to be opened 1 Leapmotor 19 Porsche 75 BMW authorized outlets Luxury and ultra-luxury 4S authorized outlets *4 outlets to be ope
Slide 9: 2.1 Continuous Optimization and Improvement of Network
2.1 Continuous Optimization and Improvement of Network East China（177） Western North Shanghai （73） Jiangsu （63） Zhejiang （22） China（10） China（10） n BMW（7） n BMW（19） n BMW（6） n BMW（2） n BMW（6） n Mini（2） n Mini（3） n Audi（2） n Porsche（3） n Mini（1） n Porsche（1） n Audi（2） n Jaguar/ Land Rover（1） n Merced
Slide 10: 2.2 Obvious Growth Trend in New Vehicle Sales Business
2.2 Obvious Growth Trend in New Vehicle Sales Business New Car Sales Volume（units） Luxury Brands New Car Sales Volume（units） New Car Sales Revenue Breakdown 115,834 1.0% 10.6% 77,018 57,835 76,752 13,601 13,587 20,232 18,738 88.4% 49.3% 17.6% 33.7% 24.9% yoy down yoy down 2022 1H 2021 1H 2022 1H 202
Slide 11: 2.3 Continuous improvement in the quality of after-sales service management
2.3 Continuous improvement in the quality of after-sales service management Revenue from after-sales services Gross profit margin of after-sales services （RMB billion） 5.518 4.419 45.46% 45.17% 19.9% yoy down stable 2021 1H 2022 1H 2021 1H 2022 1H Number of customers under management （‘000 people） 1
Slide 12: 2.4 Further improvement of extended business
2.4 Further improvement of extended business Revenue from financial and insurance agency Revenue from insurance agency services services（RMB million） （RMB million） 620 168 575 137 7.3% 18.3% yoy down yoy down 2021 1H 2022 1H 2021 1H 2022 1H Revenue from financial services（RMB million） Financial pene
Slide 13: Independent New Energy Vehicles Business
PART - THREE Independent New Energy Vehicles Business
Slide 14: 3.1 Accelerate the layout of independent new energy vehicles networks
3.1 Accelerate the layout of independent new energy vehicles networks 2022 1H Authorized Outlets Authorization Types Outlets Change Authorization Showrooms 42 outlets 2021 1H22 Change 1H22 new Overall Outlets authorizations to be opened Xpeng 7 9 2 smart 23 23 AITO 1 1 - Lotus 6 6 Maintenance Center
Slide 15: 3.2 Key Brands and Models of Independent New Energy Development
3.2 Key Brands and Models of Independent New Energy Development AITO M7 Xpeng G9 smart #1 LOTUS NYO ELETRE SAIC Zhiji L7 VOYAH FREE 8
Slide 16: 3.3 Rapid Growth of Independent New Energy Vehicles Business
3.3 Rapid Growth of Independent New Energy Vehicles Business Sales volume of independent new energy vehicles Revenue from NEV after-sales services (units) (RMB million) 2,849 5.24 1,169 143.7% yoy up 3.14 67% yoy up 2021 1H 2022 1H 2021 1H 2022 1H After-sales gross Distribution sales volume Direct-s
Slide 17: 3.4 Development Strategy of New Energy Vehicle Business
3.4 Development Strategy of New Energy Vehicle Business Focus on NEV brands and network development Continue in-depth cooperation with brands that have already reached cooperation, strengthen advantageous areas and cover blank areas. Pay close attention to emerging brands with development potential,
Slide 18: Pre-owned Vehicles Business
PART - FOUR Pre-owned Vehicles Business
Slide 19: 4.1 Main performance review of pre-owned vehicles business
4.1 Main performance review of pre-owned vehicles business Under the influence of factors such as the epidemic, supply chain and price fluctuations, the Group adopted a prudent used car strategy, and basically formed a new business pattern of distribution, retail and digitalization. Compared with th
Slide 20: 4.2 Business planning of pre-owned vehicles sales
4.2 Business planning of pre-owned vehicles sales Build a trustworthy “Yongda used car” brand, establish a complete used car supply chain capability, and achieve efficient industrial interconnection Customer Customer C to B B to C (Online valuation platform, offline channels) (4S outlets, used car c
Slide 21: 4.3 Key work planning of the pre-owned vehicles business
4.3 Key work planning of the pre-owned vehicles business 01 Branding 02 Channel Upgrading 03 NEV Exploring Provide second-hand car sales integration services Offline dual channels: OEM brand certification & The second-hand car replacement and NEV second-hand Take the lead in forming a certain reputa
Slide 22: Digital Construction
PART - FIVE Digital Construction
Slide 23: 5.1 Yongda user service platform matrix planning
5.1 Yongda user service platform matrix planning Potential Customers Interested Users Yongda APP Private Public domain Public domain domain Observing and Labeling and Model Grouping and Operation Strategies Building strategy The overall support of the whole-link marketing data center Through the sup
Slide 24: 5.2 Service function highlights of Yongda Auto APP
5.2 Service function highlights of Yongda Auto APP Without leaving homes Worry-free Efficient Convenient Safe Online car purchase, Online reservation, Check the maintenance Mobile online payment Real-time monitoring vehicle & electronic contract Car pickup & delivery progress at any time health stat
Slide 25: 5.3 Private domain operation based on online and offline integration
5.3 Private domain operation based on online and offline integration and the full life cycle of users Health Fashion Travel New car Child photography introduction Invitation Sports Finance Beauty Camping Pets Marketing APP Register Extension Membership benefits Fission Events online marketing activi
Slide 26: Financial Analysis
PART - SIX Financial Analysis
Slide 27: 6.1 Revenue
6.1 Revenue New Car Sales Revenue New Car Sales Revenue of Luxury and Revenue from After-sales Services (RMB billion) (RMB billion) Ultra-luxury brands (RMB billion) 33.966 28.767 25.399 22.477 5.425 21.9% 88.5% 4.375 yoy 84.7% down 25.2% 3.8 pct. 19.4% yoy Proportion yoy down growth down 2021 1H 20
Slide 28: 6.2 Gross Profit Margin
6.2 Gross Profit Margin Gross Profit Margin of New Car Sales Gross Profit Margin of After-sales Services 3.58% 44.62% 44.53% 3.12% 0.46Pct. 0.09pct. yoy up yoy up 2021 1H 2022 1H 2021 1H 2022 1H Note: net of Pre-owned vehicles Agency revenue Gross Profit Margin of Pre-owned Vehicles (overall) Compre
Slide 29: 6.3 Profits
6.3 Profits Comprehensive Revenue（RMB billion） Comprehensive Gross Profit（RMB billion） 41.126 4.331 31.986 3.675 22.2% 15.1% yoy yoy down down 2021 1H 2022 1H 2021 1H 2022 1H Net Profit attributable to owners of the company Net Profit（RMB million） （RMB million） 1,247 1,172 703 673 43.6% 42.5% yoy yo
Slide 30: 6.4 Operational Quality
6.4 Operational Quality Inventory ( RMB billion ) Inventory Turnover Days (day) Operating Cash Net Inflow ( RMB billion ) 23.7 3.299 4.038 23.4 3.152 3.505 13.2% 4.4% yoy stable yoy down down end of 2021 2022 1H 2021 1H 2022 1H 2021 1H 2022 1H Liability over Asset Ratio Net Gearing Ratio 54.7% 54.4%
Slide 31: Business Development Strategies
PART - SEVEN Business Development Strategies
Slide 32: 7.1 Industry Review
7.1 Industry Review Steady growth of luxury cars, pre-owned vehicles and new energy vehicles entering the "fast lane" • The epidemic has brought not only a downward impact on the automotive industry, but also the greatest favorable policies and historical development opportunities for the new energy
Slide 33: 7.2 Strengthen leading BMW & Porsche dealers position
7.2 Strengthen leading BWM & Porsche dealers position BMW and Porsche outperform in their respective segments 378 367 302 2022 1H 2022 1H National sales volume of luxury and ultra-luxury brands (thousand units) 86 70 42.4 40 38 2 1.9 0.7 0.4 BMW Mercedes-Benz Audi Lexus Volvo Porsche Jaguar Land Rov
Slide 34: 7.3 Yongda's used car business is promoted at full speed
7.3 Relying on the advantages of luxury dealers, Yongda's used car business is promoted at full speed Year 2022 to year 2024 Year 2022 to year 2024 Estimated compound growth Estimated compound growth rate ： Sales volume rate 40% Revenue 40% Traditional Business (4S shops) NEV business Independent Bu
Slide 35: 7.4 Create a new model of NEV sales and service
7.4 Create a new model of NEV sales and service, and accelerate the layout of the NEV service industry Target: To become the leading domestic high-end new energy vehicle user full ecological service provider Yongda has cooperated with most of The earliest development of NEV networks the major indepe
Slide 36: 7.5 Accelerate the construction of digital user operation system
7.5 Accelerate the construction of digital user operation system 01 02 03 Full lifecycle digitalisation Formation of the Platform ecology of touchpoints ACN fission mechanism and value co-creation Provide one-stop online and offline In-depth participation of users, Create a new retail ecology of int
Slide 37: 7.6 Adhere to the 3+1 development strategy
7.6 Adhere to the 3+1 development strategy Summary of Development Strategy • Adhere to the development strategy of luxury brands - BMW and Porsche • Fully promote the new-retail development strategy of own-brand pre-owned vehicles • Accelerate the layout of the development of independent new energy
Slide 38: Thanks!
Thanks! China Yongda Automobiles Services Holdings Limited 中国永达汽⻋服务控股有限公司 Stock Code 股票代码 : 03669.HK
China Yongda Automobiles Services Holdings — H1 2022 Earnings Presentation on 6ix