AutoBeta(AutoBeta.net)05/26 Report--

On May 26th, ideal released unaudited results for the first quarter of fiscal year 2021 ended March 31. According to the financial report, the total revenue of ideal Automobile in the first quarter was 3.58 billion yuan, up 319.8 percent from the same period last year, down 13.8 percent from the previous year. The net loss was 360 million yuan, compared with a net loss of 77.1 million yuan in the same period last year, and the net income in the fourth quarter of 2020 was 107.5 million yuan. During the reporting period, ideal delivered a total of 12579 ideal ONE.

According to the financial report, the gross profit margin of ideal car sales was 16.9% in the first quarter, compared with 8.4% in the first quarter and 17.1% in the fourth quarter of 2020. In response, ideal Motor said that the increase in gross profit margin on car sales compared with the first quarter of 2020 was due to lower bicycle manufacturing costs caused by lower raw material costs and increased production. The main reason for the decline compared with the fourth quarter of 2020 is the decline in average bicycle revenue caused by promotions launched in the first quarter.

It is worth mentioning that just last night, ideal car released and launched the new ideal ONE, priced at 338000 yuan and 348000 yuan. The new model does not change much in appearance and interior, mainly in the auxiliary driving system software and hardware and configuration adjustment and upgrade, the power system is still composed of a 1.2T three-cylinder engine and generator, pure electric mileage 188km, integrated mileage 1080km.

Ideal car has lived on one model for three years. Since the delivery began in December 2019, ideal ONE has delivered more than 55000 vehicles, ranking first in domestic new energy SUV sales for many months. For the launch of the new model, ideal car CEO Li Xiang said, "sales in September are expected to exceed the target of 10,000 vehicles." The president of ideal Automobile further explained the source of the goal: to achieve this goal, one is that the 2021 model is very competitive and is the best nanny car at present. Second, the ideal is rapidly expanding offline channels, there are already 75 stores.

According to the latest figures released by ideal, the ideal car delivery volume in April is 5539, which means that the ideal car needs to achieve 100 per cent growth within six months and double sales with the help of new models. Of course, Li Xiang's more aggressive goal is to gain 20% market share by 2025, making it the largest smart electric vehicle company in China. There is no way to know how the ideal car will achieve this goal.

As we all know, car building is a money-burning industry, and capital is an important part of supporting the operation of a car manufacturing company. In response, some media asked Li whether he would return to A shares or Hong Kong stocks in the future. Li would like to respond: "the more money, the better. Ideal cars do not mind obtaining capital reserves in any way, including the capital market, the secondary market, bank loans, bond issuance and other ways.

In addition, recently, Xiaomi, Baidu, Skyworth and other companies have announced cross-border cars, ideal car CEO Li wanted to say in an interview, "cars are very simple, or talk about products." For the evaluation of car companies, it is still necessary to return to products and sales, depending on insurance and licensing data, not fraud. "

According to relevant data, as of March this year, the number of new energy vehicles in China has reached 5.51 million. Among them, the number of pure electric vehicles is 4.49 million. The rapid development of the new energy vehicle market has made many technology giants eager to "build cars" in an attempt to get a piece of the pie.

In January, Baidu officially announced that it would enter the auto industry as a vehicle manufacturer and form a new car company with Geely Holdings Group. Baidu said that the newly formed Baidu Automobile Company will target the passenger car market, and Baidu will enter the automobile industry as a vehicle manufacturer, allowing users to buy more advanced smart electric vehicles. Baidu CEO Robin Li said on February 28th that the electric car joint venture with Geely has confirmed the CEO candidate and brand name and plans to launch a new smart electric vehicle product in the next three years. On March 2, Jidu Automobile Co., Ltd. was established with a registered capital of 2 billion yuan. As for co-building cars with Baidu, Geely Chairman Li Shufu once said, "Geely will not contract manufacturing for other companies. Baidu wants to build smart cars, so Geely is also to help Baidu realize its ideals."

On March 30, Xiaomi Group announced that Xiaomi had officially entered the smart electric vehicle industry. It is proposed to set up a wholly-owned subsidiary to take charge of the intelligent electric vehicle business. The initial investment is 10 billion yuan, with an estimated investment of US $10 billion over the next 10 years. Lei Jun, chairman, will also serve as chief executive of the smart electric vehicle business. Lei Jun said at the press conference that this will be the last major entrepreneurial project in his life and is willing to bet on all his reputation.

According to the relevant data of the Federation of passengers, the cumulative retail volume of new energy vehicles in 2020 was 1.109 million, an increase of 9.8% over the same period last year, indicating that consumers' concept of new energy vehicle products began to change slowly. Cross-border car-building may inject new development possibilities into the auto industry, but it is still very challenging to really gain a foothold in the car-building field. Some people in the industry believe that behind the entry of Internet technology companies to build cars is actually the transformation of the automobile industry, and electrification and intelligence will gradually become the development trend of automobile development in the future. such a change will also have a great impact on the traditional automobile market.

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