IAT: First Quarterly Report Shows Explosive Growth in Key Financial Indicators

Source: Author: Date:2021-04-27 Read:224

On April 27, IAT (stock code: 300825) disclosed its quarterly report for 1stseason of 2021. The main financial indicators all showed explosive growth, including operating revenue of 201,606,500 yuan in the first quarter, a 38.16% growth year-on-year; The operating profit shows 42,659,300 yuan, an increase of 98.07% year-on-year; net profit attributable to shareholders of the listed company shows 40,236,600 yuan, an 86.42% rise year-on-year.

From the production and sales data released by the China Automobile Association, in the first quarter, China's automobile production and sales reached 6,352,000 and 6,484,000 units, which is an increase of 81.7% and 75.6% respectively. Among them, the production and sales of new energy vehicles completed 533,000 units and 515,000 units respectively, an increase of 3.2 times and 2.8 times year-on-year respectively.

 Although new energy vehicles still account for less than 10% of the net sales and production, the top-level policy of "carbon peak and carbon neutral" is almost a global certainty, and most countries have set the new energy concept as the future direction of automobile development. As the first insight in automotive development trend, the vehicle R&D company IAT clearly show its determination. In 2013, IAT new energy vehicle R&D operating income accounted for only 13%. In 2020, this percentage has exceeded 75%! It is worth noting that nearly 90% of some 2.4 billion R&D in-hand orders are for the R&D services of new energy vehicles.

According to another report, Auto Shanghai, with the theme of "Embracing Change", received a total of about 1,000 exhibitors. 165 new cars were unveiled, including 73 new energy models; 64 new models were launched, including 44 new energy models. More than 30% of the brands present new energy models or technologies, which exceeded that of ICE vehicles. Furthermore, most of OEMs reserved their central area of the booth for new energy models.

The Academy of Social Sciences predicts that China's GDP growth rate is expected to reach 8% in 2021. The China Automobile Association predicts that China's new energy vehicle sales are expected to reach 1.8 million units in 2021, an expansion of 40% year-on-year. The rapid recovery of China's economy and the explosive development of the new energy vehicle industry will prompt car makers to invest more fund and resources in vehicle R&D.

News