On April 19th, at the press conference held by the Information Office of the State Council, Luo Junjie, spokesperson of the Ministry of Industry and Information Technology and director of the Operation Monitoring and Coordination Bureau, said that in the first quarter of this year, the added value of high-tech manufacturing industry increased by 14.2% year-on-year, and the output of new energy vehicles, solar cells and other emerging products increased by 140.8% and 24.3% respectively. The next step will be to speed up the investment in major projects and tap new consumption potential, including improving a new round of new energy vehicles going to the countryside and launching a pilot project of fully electrifying vehicles in public areas.
On the same day, the data released by China Association of Automobile Manufacturers showed that in March 2022, the production and sales performance of new energy vehicles was still significantly better than that of the whole automobile industry, and the chain-on-chain and year-on-year growth continued to be rapid. In the comprehensive first quarter, the production and sales of new energy vehicles continued the rapid growth momentum, with both vehicles exceeding one million, and the market share reached 19.3%. The strategic leading role of new energy vehicles was further highlighted.
Specifically, in March, the production and sales of new energy vehicles reached 465,000 and 484,000 respectively, up by 25.4% and 43.9% from the previous month, up by 1.1 times year on year, and the market share reached 21.7%. From January to March, 2022, the production and sales of new energy vehicles were 1.293 million and 1.257 million, a year-on-year increase of 1.4 times.
On the evening of 18th, BYD released its first quarter 2022 performance forecast. It is estimated that the net profit attributable to shareholders of listed companies during the period will be 650 million yuan to 950 million yuan, up by 174% to 300% year-on-year. In the explanation of the reasons for the change of the company's performance, it is stated that in the first quarter, the domestic new energy automobile industry as a whole continued the momentum of rapid growth. The company's new energy vehicle sales reached a record high, and its market share continued to climb, achieving a rapid growth year-on-year, which led to a substantial improvement in profits, and to some extent offset the profit pressure brought by the rising prices of upstream raw materials. However, the company's mobile phone parts and assembly business is affected by the weak demand in the industry, resulting in a low capacity utilization rate, and the profitability of this business segment is under pressure.