Gelonghui, September 12 | According to the Capital Securities Research Report, competition in the domestic NEV market is fierce. This year, BAIC Blue Valley (600733.SH) made positive changes, focusing on increasing sales. As of August data, the company sold 0.013 million vehicles in August, up 66% year on year. Cumulative sales volume from January to August this year reached 0.052 million vehicles, up 12.15% year on year. The company made every effort to build the three major brands: Jihu, XIANGJIE and BEIJING. Among them, the company focuses on resources to build the Jihu brand for high-end intelligent new energy vehicles. The Xiangjie brand is a new brand under the company. The brand's first cooperative model, the Panorama Smart flagship sedan, the Xiangjie S9, was jointly built by BAIC New Energy and Huawei, and will exceed 8,000 units in 20 days. The company is located at the Xiangjie Gigafactory in Beijing. As a production base for the company's cooperative models and Extreme Fox models, it fully embodies the concept of high-end manufacturing and intelligence. Currently, the factory has a production capacity of 0.12 million vehicles, with a reserve capacity of 0.3 million vehicles. Furthermore, the company increased capital and expanded shares, optimized the capital structure, and promoted the company's business development. The first coverage gives a “buy” rating.