In addition to Weibo, there is also WeChat
Please pay attention
WeChat public account
AutoBeta
2024-11-18 Update From: AutoBeta autobeta NAV: AutoBeta > News >
Share
AutoBeta(AutoBeta.net)11/10 Report--
On November 10, the company released its third-quarter results, showing that its total revenue in the third quarter was 9.8053 billion yuan, up 116.6% from the same period last year. The net loss was 835.3 million yuan, a decrease of 20.2% compared with the same period last year and an increase of 42.3% compared with the previous quarter. The net loss belonging to the company's common shareholders was 2.8589 billion yuan, an increase of 140.7% compared with the same period last year.
In terms of delivery volume, Xilai delivered a total of 24439 new cars in the third quarter, an increase of 100.2 percent over the same period last year and 11.6 percent month-on-month, of which 5418 were delivered by ES8, 11271 by ES6 and 7750 by EC6. However, although the delivery volume in the third quarter of NIO is quite good, the delivery situation has been uneven in recent months, either by the ideal car or by Xiaopeng. To this end, NIO also gave a delivery forecast for the fourth quarter, which is expected to be between 2.35 and 25500 vehicles, an increase of about 35.4% 46.9% over the same period last year. It is not difficult to see that NIO is still relatively conservative about its delivery in the fourth quarter.
In addition, although the delivery volume reached a new high in the third quarter, the net loss attributed to the company's common shareholders expanded significantly, reaching 2.8589 billion yuan. In response, NIO said that in the third quarter, NIO bought back 1.418% of its shares in China from a small number of strategic investors, with a total consideration of 2.5 billion yuan, including an increase in the redemption value of 2.0235 billion yuan of redeemable non-controlling interests. According to non-American general accounting standards, excluding equity incentive expenses and redeemable non-controlled rights and interests, the adjusted net loss attributed to the common shareholders of Lulai Automobile is 569.7 million yuan.
At the same time, gross profit margins are falling, from 21.2% in the first quarter to 20.3% in the second quarter to 18% in the third quarter. In response, Li Bin, founder of NIO, said that if the annual production reaches about 300000 units, it will be able to achieve a gross profit of 25 per cent of the whole vehicle. Xilai Automobile said that compared with the second quarter of this year, the gross profit margin of the whole vehicle declined slightly in the third quarter, first, the increase in financial subsidies for car purchases led to deductions of car sales income, and second, Wei to speed up the iteration speed of existing products, which led to a shorter amortization cycle of existing products than originally planned, resulting in an increase in amortization and depreciation costs for bicycles.
Of course, the profit of Xilai does not come only from product sales. Sales of new energy points and battery upgrading services have also become its revenue and profit growth points, making the comprehensive gross profit margin of Lai in the third quarter reach 20.3%. Xilai said that excluding this part of the revenue, the gross profit margin of other sales actually fell from-5.6% to-12.6%. In essence, Ulay still needs to increase gross profit margins by increasing car deliveries, whether from product profits or from double points.
Under the influence of the double points policy, many traditional car companies buy a large number of new energy points from new energy vehicle companies to alleviate the pressure brought by the double points policy, and double points sales has also become one of the ways for new energy vehicle companies to reduce losses. It is understood that Tesla earned $1.58 billion in revenue by selling carbon points in 2020, but his full-year net profit was only $721 million. In other words, if double points were not sold, Tesla would still be at a loss. As far as NIO Automobile is concerned, its new energy points reached 200000 points in the third quarter, and 517 million yuan came from double points sales revenue.
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
Views: 0
*The comments in the above article only represent the author's personal views and do not represent the views and positions of this website. If you have more insights, please feel free to contribute and share.
© 2024 AutoBeta.Net Tiger Media Company. All rights reserved.