AutoBeta(AutoBeta.net)04/30 Report--

On April 30, Xilai released its first-quarter results for 2021, showing operating income of 7.98 billion yuan during the reporting period, an increase of 481.8% over the same period last year. The net loss of common shareholders belonging to the parent company was 4.875 billion yuan, down 182.96% from the same period last year.

In response to the net homing loss of 4.875 billion yuan in the first quarter, NIO explained that NIO bought back 3.305% of the 3.305% stake held by some strategic investors in China in the first quarter of 2021, and therefore confirmed an increase of 4.4 billion yuan (US $671.6 million) in the redeemable value of uncontrolled rights and interests.

According to the financial report, the gross profit margin of NIO vehicle sales in the first quarter of 2021 was 21.2%, and the comprehensive gross profit margin was 19.5%. Before reference, both the gross profit margin and the comprehensive gross profit margin of NIO in the fourth quarter of 2020 were 17.2%. Li Bin said that the gross profit margin is higher than expected, and the gross profit margin of more than 20% has reached a relatively healthy state. I hope everyone's expectations for future gross profit margin increase will not be too high.

Sales data show that the cumulative delivery volume of Xilai in the first quarter was 20060, of which 4518 were for ES8, 8088 for ES6 and 7456 for EC6. Although Xilai is no longer "losing one at a time", it is still losing money, which means it still needs to spend a lot of money on building cars. Of course, there should be no need to worry about funds in the short term. According to the financial report, by the end of the first quarter of 2021, the cash reserve of Lulai Automobile was 47.55 billion yuan.

Although the financial data and sales data of Xilai are on the rise, it is not immune from the shortage of chips in the global auto market. On the conference call, Li Bin said, "the suspension of production at Jianghuai NIO Factory for five working days has had a negative impact on the production and delivery of NIO in April. The main challenge in the second quarter of this year remains the supply chain risk caused by the global chip shortage, and given the current order growth potential and the volatility of the overall environment, we expect to deliver 21000-22000 vehicles in the second quarter of 2021. "

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, NIO has made steady progress in obtaining Hefei financing, steady growth in sales, record highs in stock prices, and the correction of gross profit margin, which can be said to have passed the initial crisis.

Li Bin said that it was Hefei that transferred NIO from ICU to the general ward. Hefei not only gave us funds, but more importantly, it gave us confidence. On April 29th, Hefei and NIO jointly planned the construction of Xinqiao Intelligent Electric vehicle Industrial Park, with an initial investment of 50 billion yuan, a planned vehicle capacity of 1 million vehicles per year and a battery capacity of 100GWh/.

Li Bin said that he is optimistic about the competitiveness of NIO in the long run. He said that he did see the vitality of China's smart electric vehicle industry at the Shanghai auto show, especially the innovation in the field of smart electric vehicles, but in terms of overall competitiveness, there is still great confidence in the competition in the market in which Ulai is located. In the field of high-end automobile market, we have not seen a brand that can compete with Xilai in an all-round way. this competitiveness includes the comprehensive competitiveness of products, service system, technology, user experience and user community.

Li Bin also said that although the high-end electric vehicles launched by traditional car companies have some bright spots in some aspects, in terms of intelligence and self-driving ability, I think the determination to change needs to be greater.

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