AutoBeta(AutoBeta.net)09/10 Report--

Shen Yanan, executive director and president of ideal Motor, sold 600000 shares of ideal Motor Hong Kong shares at an average price of US $13.125, according to documents disclosed by the Hong Kong Stock Exchange on Sept. 9. Based on this calculation, Shen Yanan cashed out 7.875 million US dollars (about 54.54 million yuan) this time. After the sale, Shen Yanan's shareholding decreased from 1.71% to 1.68%.

It is understood that this is the second time that Shen Yanan has reduced his holdings this year. On Sept. 2, Shen Yanan sold 400000 Hong Kong shares of ideal Automobile at an average transaction price of $13.2221, reducing his shareholding from 1.74% to 1.71%, cashing out $5.2888 million (about 36.63 million yuan). Overall, Shen Yanan sold 1 million shares and cashed out $13.1638 million (about 91.18 million yuan).

Ideal Automobile is one of the leading car manufacturers in China, which was established by Li Xiang, president of Automobile House, in July 2015. In July 2020, ideal Automobile was officially listed on the NASDAQ stock market in the United States, becoming the second new power company listed in the United States, with a stock offering price of $11.50. the current stock price is $26.33, with a total market capitalization of $25.661 billion. In August 2021, ideal Automobile returned to Hong Kong to be listed, becoming the second new car-building force listed in Hong Kong after Xiaopeng Motors, with an IPO price of HK $118,000,000 and a total market capitalization of HK $215.962 billion.

According to the data, Shen Yanan has been the ideal president since November 2015, responsible for the company's overall strategy, business development, supply chain management and sales and marketing. Prior to joining ideal, Shen Yanan held a number of positions at Lenovo, up to vice president of Lenovo's global supply chain and chairman of Motorola Mobility (China), responsible for global supply chain operations.

Earlier, ideal Automobile reported that its operating income in the first half of 2022 was 18.3 billion yuan, an increase of 112.4 percent over the same period last year, of which revenue in the second quarter was 8.73 billion yuan, an increase of 73.3 percent over the same period last year. The net loss in the first half was 650 million yuan, up 9.5 percent from the same period last year, of which the net loss in the second quarter was 620 million yuan, down 162.4 percent from the same period last year.

By contrast, the net losses of NIO and Xiaopeng in the first half of the year were 4.57 billion yuan and 4.4 billion yuan respectively. The reason why the net loss of NIO and Xiaopeng is much higher than the ideal is mainly because the ideal sales management and research and development are relatively "stingy". Data show that in the first half of the year, NIO and Xiaopeng spent 4.3 billion yuan and 33. 5 percent on sales management. Hundreds of billions of yuan, R & D expenditure is 3.91 billion yuan and 2.49 billion yuan respectively, while the ideal car is 2.01 billion yuan and 2.53 billion yuan respectively, which is much lower than that of NIO and Xiaopeng.

In addition, the ideal car operation lost 1.392 billion yuan in the first half of the year, while the ideal ONE delivered a total of 60403 vehicles in the first half of the year, meaning a loss of 23000 yuan for every car sold. It is worth mentioning that at present, the ideal car is also known as "sales fraud". The ideal car will soon launch a replacement model, the ideal L8, in November, when the ideal ONE will stop production and sales, and on the eve of the suspension of production, the ideal ONE will also reduce its price by 20,000 yuan in the terminal market, causing the price of the car to plummet directly in the second-hand car market, causing dissatisfaction among many new and old car owners. At present, ideal car's models on sale include ideal ONE and ideal L9, while ideal L8 will replace ideal ONE. Only from the product analysis, if the price of the ideal ONE is maintained, the ideal L8 will undoubtedly be a popular style after it is listed. As for the psychological trauma that the ideal ONE brings to the new and old car owners, and whether it brings a crisis of brand trust to the ideal car, this is also uncertain.

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