Automotive Author: EqualOcean News, Yiru Qian Jul 15, 2021 05:05 PM (GMT+8)

On July 15, China's securities regulator disclosed a report guiding BAIC Motor's new listing; the company has confirmed the fact.

BAIC group

BAIC will become another auto company to achieve A+H listing after Brilliance, Dongfeng, Great Wall and Geely.

Listed companies under BAIC Group include H-listed BAIC, A-listed BAIC Blue Valley and Foton. However, at a time when the auto industry is booming, BAIC Blue Valley is a little behind.

On July 12, BAIC Blue Valley released its June 2021 Bulletin of Production and Sales. It presented data showing that BAIC Blue Valley sold 1585 vehicles in June, realizing a YoY decrease of 47%. The accumulated output was 2157 vehicles, decreasing 74% compared with 202. The aggregated sales volume was 6959, a figure which dropped 52% relative to the same period data in 2020.

With a sharp decline in production and sales, BAIC Blue Valley shares also fell precipitously. On May 20, its stock price soared to CNY 19.87, but it kept falling to CNY 12.18 (closing price on July 14), dropping by more than 38%.

Founded in 2010, BAIC ran a business covering manufacturing automobiles, spare parts and accessories (only for branches), sales of self-produced products, to equipment installation and import/export services. It also provided technical development and services, technical and economic information consultation. It went public on the Hong Kong Stock Exchange in 2014.

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