The sales of the Arctic Fox doubled in the Year of the Fox, and BAIC BluePark New Energy Technology (600733.SH) continued to perform well.

According to the data released by BAIC BluePark New Energy Technology (600733.SH), its subsidiary, BAIC New Energy, sold 20,815 new vehicles in December 2023 and a total of 92,172 new vehicles throughout the year, representing an 84% year-on-year increase and a significant growth trend. Among them, Beijing Dynamic Power's high-end intelligent electric vehicle brand, Ji Fox Automotive, became the main driver of the company's sales growth. Ji Fox Automotive sold 8,004 new vehicles in December 2023 and a total of 30,016 new vehicles throughout the year, showing a year-on-year increase of 138%. In 2023, BAIC BluePark New Energy Technology launched various models including the Ji Fox Alpha S Prologue Edition, Ji Fox Alpha S / T Forest Edition, Ji Fox Koala, and Ji Fox Alpha T5. Among them, the newly launched Ji Fox Alpha T5 in December 2023 demonstrated impressive performance in terms of space utilization, safety protection, health standards, wind resistance, and programmable cockpit. Ji Fox Koala provided a comprehensive solution for safety assurance, respiratory health, contact health, and comfort and convenience, solving the difficulties of "traveling with kids" in one stop. Ji Fox Alpha S / T Forest Edition, with its unique "forest cabin," won widespread acclaim from consumers and the industry. In addition, BAIC BluePark New Energy Technology and Huawei jointly developed the Ji Fox Alpha S New HI Edition, which was upgraded and renamed the Ji Fox Alpha S Prologue Edition and re-entered the market in May 2023. The increasing richness of Ji Fox Automotive's product lineup, along with its expanding coverage of more segmented markets and continuous accumulation of market reputation, has played an important role in significantly boosting BAIC BluePark New Energy Technology's overall sales volume. In terms of technological research and development, BAIC BluePark New Energy Technology has already possessed core technologies and patents in fields such as batteries, motor control, and charging technology. In terms of channel and service, BAIC BluePark New Energy Technology has basically achieved its goal of increasing the number of channel outlets to approximately 279 and adding 33 direct stores. In the future, BAIC BluePark New Energy Technology will not only continue to deepen its presence in core cities such as Beijing, Shanghai, Guangzhou, Shenzhen, and key markets of second-tier cities like Zhengzhou, Chengdu, and Hangzhou but also expand its layout to third- and fourth-tier cities. At the same time, BAIC BluePark New Energy Technology continues to strengthen cooperation with leading companies such as Huawei and Contemporary Amperex Technology, gathering high-quality global industrial chain resources and jointly creating strong capabilities and high-quality models to provide users with smarter and higher-end driving experiences. The recently launched Ji Fox Alpha T5 already incorporates Contemporary Amperex Technology's X-Pack ultra-fast charging battery, which can charge for 10 minutes and replenish a range of 260 km, with a maximum range of up to 660 km. According to predictions by the China Passenger Car Association, the penetration rate of the new energy vehicle market will further increase in 2024 and is expected to reach 40%. BAIC BluePark New Energy Technology stated that it will launch a new Ji Fox model in 2024, and the existing Ji Fox models will continue to be iteratively updated to maintain strong market competitiveness. In addition, BAIC BluePark New Energy Technology's first intelligent selection mode vehicle with Huawei is expected to be released in 2024. This model, positioned as a high-end intelligent pure electric sedan, will help BAIC BluePark New Energy Technology expand into the high-end executive and business sedan market.