AutoBeta(AutoBeta.net)09/24 Report--

On Sept. 24, Xilai announced its second-quarter results. According to the results, the operating income of the future going car in the second quarter was 1.508 billion yuan, higher than the market expectation of 1.309 billion yuan, and the revenue in the same period last year was 46 million yuan. The net loss attributed to shareholders in the second quarter was 3.285 billion yuan, higher than the market expected loss of 2.944 billion yuan, and a loss of 6.11 billion yuan in the same period last year.

Earlier, some analysts pointed out that Lulai will lose 2.6 billion yuan in the second quarter, meaning that the cumulative loss of Lulai is about 40 billion yuan, which is equivalent to Tesla's 15-year loss. From the current point of view, the loss of Xilai Automobile has reached the range of loss analyzed.

For NIO Automobile, although it has the strongest financing ability and a large number of financing funds among the many new car-building forces, it is still faced with the problem of funds, and its loss is also the most among the new car-building forces.

Li Bin, CEO of Xilai Automobile, said in the financial report that the company expects the total number of global employees to decrease from more than 9900 to about 7800 by the end of the third quarter, and to further streamline its business by restructuring and divesting some non-core businesses by the end of the year.

Earlier, Xilai sold its F fleet in order to cut costs in order to ease the financial pressure. In addition, at the beginning of this month, NIO announced that it had signed a convertible bond subscription agreement with a subsidiary of Tencent Holdings and Li Bin. Under the agreement, Ulai will issue and sell convertible bonds with a total principal of US $200 million to investors in a private offering, and the subscription for the convertible bonds is expected to be completed by the end of September.

According to the latest sales data, NIO sold 2796 vehicles in August, up 116% from the same period last year and 86.1% from the previous month. Among them, the sales of the ES8 was 460, down 64.5% from the same period last year and 5.5% from the previous month; and the sales of the ES6 was 2336. With this excellent sales performance, the ES6 became the highest-selling model among the new car-building forces in August.

Xilai expects to deliver 4200 to 2200 units of ES8 and ES6 in the third quarter of 2019, an increase of 18.2% and 23.8% compared with the second quarter.

Li Bin, CEO of Xilai, said that as of August, the delivery volume of Lulai was 21670. From October, the ES8 and ES6 equipped with 84 kWh battery packs will be delivered, and the integrated driving vertical cars will be upgraded to 510km and 430km, respectively, to further improve the competitiveness of the products. In addition, in response to the slowing car market, the total global workforce was cut from 9900 to 7800 by the end of September to reduce costs.

In addition, NIO also canceled the 2019 second quarter earnings conference call originally scheduled for 8: 00 a.m. eastern time, and abruptly cancelled the second quarter earnings conference call. "the conference call is generally a supplement to the quarterly report, which we believe fully covers the information that needs to be disclosed at present," Xilai said. If other important matters occur in the company, it will be disclosed again in the form of public announcement. "

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