AutoBeta(AutoBeta.net)08/11 Report--

On August 11, Xilai officially announced its second-quarter results. The financial report shows that the total operating income in the second quarter was 3.7189 billion yuan, an increase of 146.7% over the same period last year; the net loss of shareholders belonging to listed companies was 1.207 billion yuan, down 63.6% from the same period last year; in addition, as of June 30, 2020, cash and cash equivalents, restricted cash and short-term investment is 11.2 billion yuan.

The biggest focus in the financial report is still on the gross profit margin, which is the first time that Lulai has become a regular car. The financial report shows that in the second quarter of this year, the gross profit margin of Lulai cars increased to 8.4% from-33.4% last year, achieving Li Bin's previous target, but there is still a big question mark over whether the gross profit margin at the end of the year can be converted into double digits.

Currently, there are three products on sale, including ES8 in June 2018, ES6 in June 2019, and EC6 in August and next month. According to the financial report, the number of vehicles delivered by Xilai Motor in the second quarter increased by 190.77% to 10331 vehicles, including 8069 ES6 and 2263 ES8.

According to the latest data, the delivery volume of Xilai was 3533 vehicles in July, including 2610 ES6 and 923 ES8, with a cumulative delivery volume of 49615 vehicles by the end of July. It is worth mentioning that the delivery volume of NIO increased sharply in July compared with the same period last year, mainly due to a recall in July last year, resulting in sales of only 837 vehicles in that month.

Based on a sharp year-on-year increase in delivery in the second quarter, Xilai is expected to deliver between 11000 and 11500 vehicles in the third quarter, an increase of about 129.2% to 139.6% year-on-year. The total revenue will be between 4.0475 billion yuan and 4.2123 billion yuan, an increase of about 120.4% to 129.3% over the same period last year.

NIO, as the leading car manufacturer in China, was not favored by the market before, and even was called "the worst in 2019" last year, but according to the data in 2020, NIO is obviously more optimistic than other car brands in terms of delivery volume and financing process.

Of course, although there are eye-catching figures in the financial report, but NIO still can not be taken lightly. Li Bin said that at present, traditional car companies still exist as a "mainstay" in the domestic auto market, while innovative companies such as NIO Automobile still have a long way to go. "the market volume occupied by NIO is basically negligible." Li Bin said that although Xilai has caught up with traditional car companies in terms of market capitalization, there is still a big gap in market share and product sales.

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