Guangzhou Automobile Group Co., Ltd. Class A · SSE:601238
Guangzhou Automobile Group Co., Ltd. Class A — FY2019 Earnings Presentation
29 slides from Guangzhou Automobile Group Co., Ltd. Class A's earnings presentation, 2020
Slide 1: Annual 2019 Results Presentation
Annual 2019 Results Presentation 601238.SH | 02238.HK
Slide 2: Disclaimer
Disclaimer The presentation has been prepared by Guangzhou Automobile Group Co., Ltd. (“GAC” or the “Company”) without independent verification. The presentation does not express or imply any representations or warranties, and shall not be relied upon for the accuracy, fairness or completeness of th
Slide 3: Contents
Contents 01 02 03 04 Industry Operation Financial Key work Development Results Results in 2020 Overview Overview Overview
Slide 4: China automobile market sales decline in 2019
n Due to the macroeconomic downturn, Sino-US trade friction, lacking of consumer confidence, emission standard switching and other factors, the industry situation remained grim. Negative growth in sales volume of automobile market for 18 consecutive months; n 25.77 million vehicles were sold in 2019
Slide 5: Fierce stock competition in all segments of PV market
Unit: 10K 100% 2% 2% 2% Fierce “stock competition" in all 5% 3% 9% 7% 6% 15% 12% 8% 7% segments of PV market 90% 7% 10% 10% 3% 80% 13% 17% 21% 70% 29% 45% 41% 42% 44% n In the context of the overall market decline, all 60% Minivan 微客 segments of PV market have slipped in 2019. n In terms of sales sh
Slide 6: Negative growth in new energy vehicle market throughout the year
125.6 120.6 德系日系进一步扩大市场份额 Unit: 10K 77.6 105.3 106.2 50.6 57.8 33.6 17.0 19.8 20.3 14.4 2016 2017 2018 2019 商用车 Commercial Vehicles 乘用车 Passenger Vehicles Source: CAAC Negative growth in new energy vehicle market throughout the year n In 2019, new energy vehicle (NEV) sales reached 1.206 million uni
Slide 7: Contents
Contents 01 02 03 04 Industry Operation Financial Key work Development Results Results in 2020 Overview Overview Overview
Slide 8: GAC Ranked 189th in the Fortune Global 500
GAC Ranked 189th in the Fortune Global 500 Humanity Credibility Creativity n In 2019, GAC ranked the189th in the Fortune Global 500, entering into the top 200 for the first time and up by 13 places. n Since first entry in 2013, GAC has obtained a position in the Fortune Global 500 list for seven con
Slide 9: GAC's scale ranked No.5 in the industry
GAC’s scale ranked No.5 in the industry GAC's domestic market share Sales declining rate lower than that of the industry increased by 0.4% n Sino-US economic and n The annual sales decline is 4.2 percentage trade frictions n Active adjustment points lower than that of the industry; and active respon
Slide 10: GAC Motor and GAC New Energy
GAC Motor Proprietary brand: Staying focused, honing abilities tirelessly GAC New Energy n The retail sales reached 387,000 units; the total inventory at n GAC New Energy sold 42,000 vehicles in the whole the year-end decreased by 41.63% YoY; year, with a year-on-year growth of 110.5%; n Stabilized
Slide 11: JV brand: JV cooperation hit new high
JV brand: JV cooperation hit new high GAC Honda GAC Toyota n The capacity utilization rate n The capacity utilization rate is reached 117.7%; 139.7%; n 776,600 vehicles were n 670,600 vehicles were produced, produced, up by 1.7% YoY; up by 11.9% YoY, and 682,000 785,000 vehicles were sold, vehicles
Slide 12: R&D: Continuously strengthen R&D and innovation
R&D: Continuously strengthen R&D and innovation, accelerate the accumulation of development momentum Promoted 53 vehicle projects Developed and launched 14 models Launched the second generation GS4, Aion S, Aion LX and other new models; completed the development of next generation of B / C platform.
Slide 13: Vehicle capacity steadily increased by 19%
Vehicle capacity steadily increased by 19% Capacity utilization over 81% 10K vehicles Unit: 10000 GAC Motor(INC new 52 energy) 82 GAC Honda(INC Honda 65 China) 65 GAC Toyota 48 60 GAC Mitsubishi 20 20 GACGAC FCAFIAT 32.8 32.8 0 20 40 60 80 100 Designed capacity by 2018.12.31 Designed capacity by 201
Slide 14: Take organizational reform to improve management efficiency
GAC Vehicle Business Unit Take organizational reform to improve management efficiency n Adjusted the BoD of three subsidiaries for self-owned brand to have the same Board directors; n Improved the efficiency of integrated operation, GAC R&D GAC New communication and coordination of proprietary brand
Slide 15: Electrification, Car-sharing, Digitization
Electrification n Aion S gained the second place of pure electric sedan and the third place of pure electric vehicle in July, with a growth against the trend; Aion LX has been well received by customers with its high-tech, high-quality and high-performance since its launch; other models such as GAC
Slide 16: Intelligent driving and Internationalization
n The ADiGO (for intelligent and connected driving) ecosystem, developed independently by GAC with support from strategic partners including Tencent, Intelligent driving Huawei, was released to create a large ecosystem for intelligent and connected vehicles. n Promoted the construction of GAC Indust
Slide 17: Contents
Contents 01 02 03 04 Industry Operation Financial Key work Development Results Results in 2020 Overview Overview Overview
Slide 18: Summary of Balance Sheet
Summary of Balance Sheet (RMB 100mm) 31-12-2019 31-12-2018 change (%) Non-current assets 805.45 659.33 22.16% Current assets 568.65 661.87 -14.09% Total assets 1,374.10 1,321.20 4.00% Non-current liabilities 133.70 140.24 -4.67% Current liabilities 415.85 401.75 3.51% Total liabilities 549.55 541.99
Slide 19: Summary of Comprehensive Income
Summary of Comprehensive Income （RMB 100 mm, except EPS） 2019 2018 Change (%) Revenue 597.04 723.80 -17.51% Cost of operation 551.48 582.41 -5.31% Sales and distribution cost 45.53 50.73 -10.24% Administrative expenses 32.44 40.56 -20.03% R&D expenses 10.02 8.38 19.57% Financial expenses 0.26 -1.51
Slide 20: Summary of Cash Flow
Summary of Cash Flow （ RMB 100 mm ） 2019 2018 Change (%) Net cash flows from operating -3.81 -12.68 69.99% activities Net cash flows from investment -48.26 -55.81 13.54% activities Net cash flow from financing -23.25 -24.74 6.02% activities Net increase in cash and cash -75.01 -92.46 18.87% equivale
Slide 21: Revenue by business segment
（RMB 100mm） 2018 2019 -17.51% 800.00 -2.36% 723.80 3637 700.00 3551 -28.44% 597.04 600.00 503.94 500.00 400.00 360.60 +15.13% 300.00 188.51 200.00 163.74 -15.05% -14.16% 100.00 28.82 24.74 27.30 23.19 0.00 Vehicle 整车制造业 Parts 零部件制造业 Trade services 商贸服务 Finance services 金融及其他 Total 合计 Sales revenue i
Slide 22: Net profit bridge
(RMB 100mm) 109.5 27.9 67.1 8.2 5.2 -1.8 -1.8 6.2 -86.3 Net profit of this period Financials in this section are prepared in accordance with China Mainland Financial Reporting Standards. 601238.SH | 02238.HK | www.gac.com.cn
Slide 23: Net profit, ROE, EPS and dividend payout ratio
Net Profit Attributed to the Weighted Average Parent Company Return on Equity (RMB100mm) 109.03 14.97% 66.18 8.46% 2018 2019 2018 2019 Earnings per Shares Annual Dividend Payout Ratio (单位：元） (RMB) 1.07 0.65 35.66% 30.94% 2018 2019 2018 2019 Financials in this section are prepared in accordance with
Slide 24: Contents
Contents 01 02 03 04 Industry Operation Financial Key work Development Results Results in 2020 Overview Overview Overview
Slide 25: Operational work will emphasize stability; development will highlight quality
Operational work will Business development will emphasize "stability" highlight "quality" Increasing uncertainties in the macro The energy revolution, the intelligent economy and the coronavirus revolution and the Internet revolution of the outbreak in country will cause greater automobile industry
Slide 26: 8 proprietary brand products, 11 joint venture products
8 proprietary brand products n GAC Motor: second generation GS4 PHEV and Coupe, GA8 MCA, GM8 MCA and GS3 MCA n GAC New Energy: pure electric medium SUV, compact crossover model n GAC NIO: first model HYCAN 007 11 joint venture products n GAC Toyota: Wildlander (including hybrid), C-HR EV n GAC Honda
Slide 27: Key work in 2020: customer orientation, innovation, stable growth
Adhere to customer- Insist on innovation and Stick to the goal and orientation and create new enhance core strive to stabilize growth marketing experience competitiveness n Increase revenue and reduce n Highlight the cultivation of star n Improve the R&D, production expenditures to promote cost mode
Slide 28: Keep nonstop reform and promote high quality development
Stay focused, face up to Keep nonstop reform and Persist on open difficulties, and cultivate new driving force promote high quality cooperation and integrate comprehensively development resoureces for all-win n Implement the task of "double n Promote the project of GAC n Steadily promote hundred ref
Slide 29: Thanks
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Guangzhou Automobile Group — FY2019 Earnings Presentation on 6ix