Due to the decline in export business and the production capacity ramp-up period of high-end vehicles, JAC Motors turned to losses in the first half of the year.
On July 14, Anhui Jianghuai Automobile Group Co., Ltd. (JAC Motors, 600418) announced that the company expects to achieve a net profit of about -680 million yuan attributable to the parent company's owners in the first half of 2025, which will be a loss compared with the same period last year. In the first half of 2024, JAC Motors achieved a net profit of 301 million yuan attributable to the parent company's owners.
In response to the loss, JAC Motors said in the announcement that, on the one hand, the company's export business has declined due to the increasingly complex international situation and the increasingly fierce competition in the overseas automobile market. On the other hand, the company's high-end intelligent new energy passenger car project is still in the production capacity ramp-up period and has not yet shown scale benefits.
In terms of sales, the production and sales report shows that from January to June this year, JAC Motors sold a total of 190,600 vehicles, a year-on-year decrease of 7.54%. Among them, the sales volume of new energy passenger vehicles was 8,297 units, a year-on-year decrease of 35.08%.
It is worth mentioning that JAC Motors' OEM project for the new car-making force NIO has been completely ended. The official website of the National Enterprise Credit Information Publicity System recently showed that the joint venture between NIO and JAC Motors, Jianglai Advanced Manufacturing Technology (Anhui) Co., Ltd., issued a dissolution notice. At the end of 2023, NIO obtained the qualification to independently manufacture cars and acquired a manufacturing base from JAC Motors for 3.16 billion yuan.
After bidding farewell to NIO, JAC Motors has joined hands with Huawei. The "high-end intelligent new energy passenger car project" mentioned by JAC Motors is the exclusive brand created by it in cooperation with Huawei.
On May 30, the Zunjie S800 was officially launched, with a price range of RMB 708,000 to RMB 1,018,000. It is expected to start mass delivery in mid-August. The limited edition of 599 Zunjie S800 Pioneers is scheduled to start delivery on June 26.
Yu Chengdong, Huawei's executive director and chairman of the Terminal BG, said, "The Zunjie S800 is the beginning of China's intelligent manufacturing moving towards high-end, and it brings together the most courageous forces in China's automotive industry."
As of the close of the market on the 14th, JAC Motors rose 0.67% to close at 39.23 yuan per share.
