Recently, Blue Valley announced that BAIC, BAIC Blue Valley New Energy Technology Co., Ltd. Beijing Economic and Technological Development Zone, received financial Audit Office recently “on the allocation of BAIC New Energy Technology Co., Ltd. Blue Valley sophisticated industry award notification of funds “(Beijing to open the trial to build fiscal [2019] No. 524) sophisticated industrial incentive funds allocated 300 million yuan RMB.
The estimated amount of subsidy will be reflected in the 2019 Annual Report BAIC Blue Valley released the first quarter of 2020. Beiqi Blue Valley said that government grants are expected to obtain the above effects on the company’s 2019 annual total profit of 300 million yuan, to be included in other income account.
BAIC Blue Valley released 2019 third quarter results, the first three quarters of 2019, Beiqi Blue Valley total revenue reached 17.484 billion, an increase of 78.64 percentage; wherein the third-quarter operating income reached 7.564 billion, an increase of 81.26 percentage. In terms of net profit attributable to shareholders of listed companies, Beiqi new energy to a loss of profit, loss amounted to about 270 million yuan, over the same period last year profit of about 133 million yuan.
a month ago, BAIC Blue Valley spend about 570 million yuan of foreign investment in two new energy industries, involving electric vehicles for power plants and high-end electric car production base.