In 2014 BAIC’s Revenues Exceeded 311 Billion RMB (About 49.77 billion USD)

BAIC’s place among the Fortune 500 companies was again confirmed by the company’s operating results for 2014. BAIC realized annual car sales of 2.401 million vehicles, constituting an increase of 10.9%. Total revenues topped the 300 billion RMB mark, reaching 311.56 billion RMB (About 49.77 billion USD), marking an increase of 15.4%. Profits amounted to 17.03 billion RMB(about 2.72 billion USD), an increase of 13.3%. With its current globalization strategy, BAIC aims to accelerate this positive trend and aims to reach overseas sales of more than 74,000 passenger cars.

Recently, BAIC Group gathered its strategic partners, including Germany’s Daimler Greater China investment company, Finmeccanica of Italy, Hyundai Motor (China) Investment Co., and other international executives to the New Year Meeting. Just before this event was held, the participating parties reached a consensus to build and strengthen BAIC’s overseas sales and service network in 2015. The amount of BAIC’s overseas networks will reach 103.

Compared to other large Chinese car manufacturers, BAIC’s Internationalization started its development rather late. But the company has been successfully catching up thanks to its strategic long-term planning. On December 19 last year, BAIC was officially listed on the Main Board of the Stock Exchange of Hong Kong. The total funds raised reached 12.679 billion Hong Kong dollars and created two “firsts”: BAIC was the highest valued car manufacturer listed in Hong Kong as well as the highest valued Chinese state-owned enterprise in Hong Kong’s IPO history.

In 2015, BAIC aims to complete the modernization of its bases and implementation of major construction projects. At the same time, BAIC will actively expand the scope and areas of its international cooperations.

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