On August 27, 2016, at the “2016 China Top 500 Enterprises Summit” in Changsha, Hunan Province, the China Enterprise Confederation and the China Enterprise Directors Association released the list of “2016 China Top 500 Enterprises”. BAIC Group (BAIC) was ranked 36th on the list with operating revenues of 345.22067 billion Yuan (52.3 billion USD). Mr. Xu Heyi, Chairman of BAIC Group, attended the summit and delivered a speech.

Facing the new changes in the automotive industry and the macro economy, Mr. Xu Heyi said that BAIC is making all-out efforts to advance its strategic transformation from a traditional manufacturer into a service-oriented and innovative enterprise. It will vigorously develop new energy vehicles, smart vehicles and off-road vehicles with comparative advantage, upgrade products and build differential advantage. Besides, BAIC will restructure the value chain through “Internet plus”, optimize the industry chain through restructuring, develop service-oriented manufacturing and upgrade traditional industries and will renovate the business model through new ideas and technologies such as smart network connection, big data and shared economy so as to change from an automotive product supplier into a travel solution provider. “We will advance globalization to replace simple commodity trade with global localized operation,” he added.

In recent years, under the dual challenges of the complex macro situation and the slowdown of the auto market, BAIC has mapped out the strategy of “transforming from a traditional manufacturer into a service-oriented manufacturer and an innovative enterprise”, conducted in-depth and wide-range reforms in such aspects as R&D and manufacturing, product promotion and business model, and achieved significant results.

In 2015, BAIC achieved record sales of 2.489 million units and record operating revenues of 345.2 billion Yuan（52.3 billion USD）. BAIC’s own brands developed at astounding speed. On August 16, BAIC’s 1,000,000th own brand vehicle rolled off the line, marking that BAIC has entered a higher development stage. While in the commercial vehicle sector, Beiqi Foton held a stable position with the largest commercial vehicle sales in China.

As for the new energy vehicle sector, BAIC has developed into one of the manufacturers with the largest industrial scale, most complete industry chain and largest demonstrative operation scale in China. In 2015, BAIC sold over 20,000 electric passenger vehicles, ranking first in China and fourth in the world. Also, BAIC has vigorously developed and built charging infrastructure, and been ahead in the industry in the number of private and public charging piles. By developing the leasing-by-time business and creating the smart service system, BAIC has delivered perfect green travel solutions. In the first half of 2016, BAIC BJEV remained ahead in the industry with cumulative sales of 15,000 units, up 140 percent year on year.

As BAIC continued to advance the strategy of “transforming from a traditional manufacturer into a service-oriented manufacturer and an innovative enterprise”, BAIC’s market performance has improved from the same period of last year. According to data, BAIC achieved sales of 1.305 million units in the first half of 2016, up 10.7 percent year on year, far above the industry’s average growth rate of 8.1 percent and ahead of the other four Chinese automakers. This laid a solid foundation for BAIC to fulfill its annual targets and make a good beginning in the “13th Five-year Plan” period.