AutoBeta(AutoBeta.net)11/18 Report--

Xiaopeng Automobile, Ideal Automobile and NIO Automobile, the three major domestic car-making brands, announced the financial data of the third quarter, which is also the first financial report since Xiaopeng Automobile and Ideal Automobile went public.

On November 17, NIO Automobile announced the financial report of the third quarter, showing that the total operating income during the reporting period was 4.526 billion yuan, with a year-on-year growth of 146.4%; the net loss attributable to shareholders of listed companies was 1.188 billion yuan, down 53.5% year-on-year; the gross profit margin in the third quarter was 12.9%, compared with-12.1% in the same period last year.

At present, NIO has launched ES8, ES6 and EC6 models, and the overall sales volume continues to rise. In the third quarter, NIO delivered 12206 new vehicles to customers, including 8660 ES6, 3530 ES8 and 16 EC6, an increase of 154.34% over the same period last year.

NIO said it expects vehicle deliveries in the fourth quarter to be between 16500 and 17000 vehicles, up about 100.6 percent to 106.7 percent year-on-year. At the same time, total revenue in the fourth quarter is expected to be between 6.2587 billion yuan and 6.4358 billion yuan, up about 119.7% to 126.0% year-on-year.

On the conference call, Li Bin, founder of NIO Automobile, said that NIO is expected to achieve full-year operating cash flow in the fourth quarter. In addition, NIO confirmed that the fourth car will be released soon, while NIO has begun to develop the fifth model, both cars.

As the head enterprise of domestic car-making brand, NIO can be said to have passed the initial crisis. Under the influence of negative news such as spontaneous combustion of products, resignation of senior executives, huge losses and financing difficulties, NIO Automobile's share price plummeted and was on the verge of delisting. Its founder Li Bin was called the worst person in 2019. However, at present, NIO has come out of the dangerous period. Under the condition of steady financing and steady growth of sales volume, the share price of NIO Automobile has repeatedly reached new highs, rising more than 30 times this year, with a market value exceeding US $60 billion, surpassing GM, BMW and other traditional automobile enterprises.

Ideal Auto and Xiaopeng Auto announced their third-quarter earnings last week. During the reporting period, Xiaopeng Automobile realized a total revenue of 1.99 billion yuan, a net loss of 1.149 billion yuan and a gross profit rate of 4.6%, which is the first time that the gross profit rate of Xiaopeng Automobile has turned positive.

Xiaopeng Automobile has two models, Xiaopeng G3 and Xiaopeng P7, among which P7 is the latest model launched by Xiaopeng Automobile, with outstanding sales volume. In the third quarter, Xiaopeng delivered 8578 vehicles, up 265.8% year-on-year, of which 6210 vehicles were delivered by Xiaopeng P7, accounting for 72% of the total delivery. At present, Xiaopeng P7 has become Xiaopeng's main sales model.

As the only production and manufacturing base of Xiaopeng at present, Xiaopeng Automobile Intelligent Factory located in Zhaoqing City, Guangdong Province is an important reason for the rapid delivery of Xiaopeng P7 model. At the same time, the second production and manufacturing base of Xiaopeng Automobile has landed in Guangzhou City Development Zone in September this year, and it is planned to be officially put into production before the end of 2022, when the production capacity of Xiaopeng Automobile will be significantly expanded. With the expansion of production capacity of Xiaopeng Automobile's self-built factory, the cooperation relationship between Xiaopeng Automobile and Haima Automobile is expected to end by the end of next year.

On November 13, Ideal Automobile announced the third quarter financial report showed that during the reporting period, the operating income was 2.511 billion yuan, the net loss attributable to shareholders of listed companies was 107 million yuan, and the gross profit margin was 19.78%. In terms of new vehicle deliveries, Ideal ONE delivered 8660 vehicles in the third quarter, second only to NIO.

Although Ideal ONE has repeatedly exposed negative news such as broken axle, assisted driving accident and spontaneous combustion, it does not seem to affect the hot sale of Ideal ONE. In terms of single model sales, the ideal ONE should be ahead of NIO's ES6 and Xiaopeng's P7.

On November 6, the ideal car recalled 10469 ideal ONE vehicles because the design of the ball pin of the lower arm of the vehicle's front suspension increased the probability of accidents. The recall is expected to be completed within three months.

According to the plan, the ideal delivery volume in the fourth quarter will be between 11,000 and 12,000 vehicles, and the total revenue will be between 3.11 billion yuan and 3.39 billion yuan. However, given the impact of the recall on the company's performance, the net loss may be further widened.

For the "new force of car-building", which was still struggling a year ago, 2020 seems to have changed from quantitative to qualitative. In fact, after the blowout period of high-speed development of new energy vehicles, the market heat has dropped sharply. At the same time, with the substantial reduction of subsidies, the industry has gradually developed towards high-quality and high-endurance, leaving little market space for low-end backward enterprises.

At present, the new brand pattern of domestic car-making has basically taken shape. In Li Bin's words,"it has transitioned from ICU to general ward". However, in the eyes of the outside world, they still have to worry about whether they can survive.

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