AutoBeta(AutoBeta.net)11/30 Report--

The automobile industry ushered in a historical moment. The new automobile enterprise "NIO Automobile", which was established only five years ago, has surpassed BYD in market value and become the automobile enterprise with the highest market value in China.

At the close of U.S. stocks on Nov.27, NIO shares closed at $54, raising its total market value to $72.84 billion. You know, NIO's share price fell to more than $1 last year, and now it has become the most eye-catching automaker besides Tesla.

At the same time, BYD shares fell after opening on Nov.30, down 1.55 percent in intraday trading, with a total market value of 467.631 billion yuan.

Therefore, NIO's current market value has surpassed BYD to become China's highest market value car enterprise. In the latest ranking of global car companies by market capitalization, NIO also rose to fourth place, behind Tesla, Toyota and Volkswagen.

Some analysts believe that NIO's share price continues to rise, related to its recent good market performance, new car delivery and earnings data also continue to improve. At the same time, electric vehicles will become the trend of the future development of the automobile industry, which is also an important reason for the capital market to look good at building new forces. In addition, Tesla's share price performance as an industry leader has further boosted the share price of the electric vehicle concept.

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 rate in the third quarter was 12.9%, compared with-12.1% in the same period last year.

In the third quarter, NIO delivered a total of 12206 new vehicles, 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.

Wei Lai founder Li Bin said in a speech on the same day's earnings conference call: "We are confident that in 2020, the overall cash flow from operating activities can be turned positive." As of the third quarter of this year, the cash reserve on NIO's account was 22.2 billion yuan, which has achieved positive operating cash flow for two consecutive quarters.

Cui Dongshu, secretary-general of the Association, believes that new energy vehicles are currently priced higher in the US capital market and there is a certain bubble. He said that valuation is a capital market evaluation and has no practical significance for the development of enterprises. However, high valuations reflect investors 'mentality and expectations, and bubbles in capital markets are also a reflection of expectations for the future. American investors agree with Tesla's development route and future development trend of new energy vehicles, so they give a higher valuation to the new Chinese car-making forces listed in the United States, which is also a good thing. In addition, compared with the weak competition of new energy vehicles in Europe, there are a number of new car-building forces emerging in China, but there are no new car-building forces in other countries around the world. Therefore, it is easier for NIO Automobile to obtain high valuation in the US capital market, which is also the evaluation performance of the international market on the high valuation of some industries in China.

In addition to Wei Lai, Xiaopeng car, ideal car share prices are also soaring. Since November this year, Xiaopeng automobile shares have risen more than 260%, ideal car shares have risen more than 110%. Ideal car CEO Li Xiang once said,"Although the fundamentals of the enterprise will have a certain impact on the stock price, but the fluctuation of the stock price is more determined by the market."

There is a view that, even if there is an outside world that Tesla, Wei Lai these car enterprises have bubbles, but new energy is the future development trend of the automobile industry, but also is the driving force of the capital market.

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