AutoBeta(AutoBeta.net)03/02 Report--

On March 2, Xilai released its financial results for the fourth quarter of 2020 and its annual financial results. According to the financial report, the revenue of Xilai Automobile in 2020 was 16.26 billion yuan, an increase of 107.8 percent over the same period last year, while the net profit loss was 5.204 billion yuan, down 53.04 percent from the same period last year. Of this total, revenue in the fourth quarter of 2020 was about 6.641 billion yuan, up 133.2 percent from the same period last year, while the net loss was about 1.389 billion yuan, down 51.5 percent from the same period last year.

The narrowing of revenue and profits of Xilai has a lot to do with the sharp increase in delivery volume. According to the data, the cumulative delivery volume of Xilai Automobile in 2020 was 43728, an increase of 112.6% over the same period last year.

As we all know, a sudden epidemic swept the world in 2020, and the production and operation of domestic and foreign automobile companies declined significantly in the first half of the year. However, as a member of the new power of car-building, the performance of Xilai Motor in 2020 is indeed surprising.

Statistics show that from the first quarter to the fourth quarter of 2020, the delivery volume of Lulai cars was 3838, 10331, 12206 and 17353 respectively, with year-on-year changes of-3.7%, 190%, 154% and 111%, respectively. In other words, with the exception of a decline in delivery in the first quarter, delivery volume doubled in the other three quarters.

According to the financial report, the gross profit of Xilai was 1.873 billion yuan in 2020, compared with a loss of 1.198 billion yuan in 2019. The improvement in gross profit means an increase in gross profit margin, which has risen to 11.5% in 2020, which means that Xilai has got rid of the embarrassing situation of "losing one car at a time".

However, although Xilai no longer "loses one at a time", its annual loss still reaches 5.2 billion yuan, which means that it still needs to spend a lot of money on building cars. Of course, Xilai Motor has repeatedly reached record highs in the capital market, so there should be no need to worry about capital in the short term. As of December 31, 2020, cash and cash equivalents, restricted currency funds and short-term investments totaled 42.5 billion yuan (US $6.5 billion).

Xilai Automobile said that it will speed up the layout of offline marketing channels this year, and 20 Lulai centers and 120 Lulai spaces will be built this year. Li Bin, CEO of NIO, said that in the later stage, the construction of the NIO Center and the space will speed up the layout according to the city where the BBA sales channel is located. This means that as long as there are cities sold by high-end brands such as BBA, Xilai will go to the layout of experience centers or NIO spaces.

In 2019, under the influence of product spontaneous combustion, executive turnover, huge losses, financing difficulties and other negative news, the share price plummeted on the verge of delisting, and its founder Li Bin was called the worst person in 2019. After entering 2020, with steady financing, steady growth in sales and record high stock prices, coupled with the correction of gross profit margin, NIO can be said to have passed the initial crisis.

Electrification and intelligence have indeed become the development direction of the automobile market in the future. With the development of the automobile market, it has become a major trend for electric vehicles to replace fuel vehicles. As a leader in the field of car-building brands and even electric vehicles, the future development of Ullai is indeed full of imagination. The development of Xilai Motor in 2021 is still full of expectations.

Welcome to subscribe to the WeChat public account "Automotive Industry Focus" to get the first-hand insider information on the automotive industry and talk about things in the automotive circle. Welcome to break the news! WeChat ID autoWechat