AutoBeta(AutoBeta.net)09/26 Report--

On the afternoon of September 24th, Xilai officially released its financial statements for the second quarter. It is understood that the operating income of Lai Automobile was 1.5086 billion yuan, down 7.5% from the previous month. It was attributed to shareholders with a net loss of 3.2858 billion yuan, compared with a loss of 6.11 billion yuan in the same period last year. According to statistics, the cumulative loss in the first half of this year is as high as 5.908 billion yuan, plus the loss in the three years from 2016 to 2018 is 3.518 billion yuan / 7.565 billion yuan / 23.328 billion yuan, representing a cumulative loss of 40.345 billion yuan.

In a conference call held at 8 p.m. on September 15, Lvlai CEO Li Bin said that taking into account the speed of sound such as dividends, the actual loss for four years was only 22 billion yuan. At the end of September and the end of the year, Xilai will reduce its efficiency and cost, reducing the number of employees worldwide to about 7800.

The recall is an important reason for the decline in profits, and if the company deducts the recall cost of 338 million yuan, its sales profit will be-4%, an improvement from the first quarter, NIO said on a conference call.

In the first half of this year, due to the spontaneous combustion of ES8 in Xi'an, Shanghai and Wuhan, Xilai was filed with the State Market Regulatory Administration for a recall plan, which was approved on June 27, and decided to recall a total of 4803 ES8 equipped with NEV-P50 module battery packs produced from April 2, 2018 to October 19, 2018.

Judging from the current delivery data, as of August this year, ES6 and ES8 delivered a total of 10322 vehicles, lagging behind Weimar and Xiaopeng, ranking third in the new force of car building.

In fact, Xilai Automobile is actively promoting a wide range of financing layout. As early as May this year, Xilai signed a framework agreement with Beijing Yizhuang Investment Co., Ltd., which will invest 10 billion yuan to support the development of Xilai Motor. Qin Lihong, president of Lulai, had previously responded that it was "going well", but the cooperation was not mentioned in the second-quarter results of the company. At the same time, on September 5, Ulai signed a convertible bond subscription agreement with Tencent and Li Bin. Under the agreement, Ulai will issue and sell convertible bonds with a total principal of 200 million US dollars to investors in a private offering, which is expected to be completed by the end of September.

Li Bin also said that affected by the previous recall, in the current downward market environment of the auto market, traditional car companies have separated from other new car-making forces, and their profits are not optimistic in the first half of the year, and profits are expected to pick up in the third quarter. From October, Ulai will start delivering ES6 and ES8 with 84kWh battery packs, which will promote the growth of delivery volume.

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