Domestically listed automakers are currently grappling with performance pressures, exacerbated by the dual challenges of escalating raw material costs and intensified industry competition. As of July 14, four complete vehicle manufacturers have issued their performance forecasts for the first half of 2026, all projecting losses. BAIC BluePark, for instance, anticipates a net loss attributable to the parent company ranging from RMB 1.77 billion to RMB 1.97 billion for the first half. Despite experiencing a year-on-year uptick in sales and some improvement in profit margins, the company has yet to break free from the shackles of losses. BAIC BluePark plans to rebrand itself as BAIC Arcfox and boasts brands such as Arcfox and Xiangjie. The Xiangjie brand is set to introduce two new models in the second half of the year, aiming to achieve comprehensive category coverage. Seres, another automaker, expects a net loss attributable to the parent company ranging from RMB 1.5 billion to RMB 1.8 billion for the first half, marking a stark reversal from the profit of RMB 2.941 billion recorded in the same period last year. Its core subsidiary, AITO, has transitioned from profitability to losses, primarily due to factors such as soaring raw material prices and adjustments to the book value of existing assets. Notably, the company had been profitable for two consecutive years prior to this downturn. GAC Group, too, is bracing for a net loss attributable to the parent company ranging from RMB 4.06 billion to RMB 4.57 billion for the first half. The loss margin has widened compared to the same period last year, primarily attributed to a decline in profits from self-owned brands, reduced investment income from joint venture brands, and exchange losses. JAC Motors, on the other hand, expects a net loss attributable to the parent company of RMB 740 million for the first half, representing a slight narrowing of the loss margin compared to the RMB 773 million loss recorded in the same period last year. The performance fluctuations are mainly influenced by declining sales, losses from associated enterprises, and exchange rate volatility. The company has been incurring continuous losses since 2024.