AutoBeta(AutoBeta.net)10/08 Report--

Xilai, which lost a lot of money and its share price fell, today released its September and third-quarter delivery results. Xilai delivered a total of 4799 vehicles in the third quarter, compared with an earlier estimate of 4200 to 4400 in the third quarter, so the result also exceeded expectations.

In September, Xilai delivered 2019 vehicles, including 1726 ES6293 ES8;, a total of 4799 vehicles delivered in the third quarter, including 4196 ES6603 ES8.

"delivery in the third quarter exceeded the upper limit of our guidance, as ES6 production and delivery continued to increase after its first release in June," Li said. On Aug. 24, Xilai announced that the first owners of ES8 and ES6 would enjoy a lifetime free change of electricity, which also attracted some consumers.

Xilai delivered a total of 12341 vehicles in the first nine months of 2019, with a total delivery volume of 23689 since the establishment of the company.

Even though the delivery volume exceeded Wei Lai's expectations and ES6 delivered more than 4000 units, Lei Jun's cars were still waiting in line. Not long ago, the winner of Lei Jun's lucky draw sent to ES6 so far did not mention the news of the car went viral, while the official responded that "Lei Zong's car is also in line."

With the huge consumption of funds, losses have increased, and operating conditions have problems, resulting in a continuous decline in stock prices.

On Sept. 24, Xilai announced its second-quarter results, which showed that the net loss attributed to shareholders was 3.285 billion yuan, higher than market expectations. Chairman Li Bin said in a conference call that the actual loss over the past four years is about 22 billion yuan.

Affected by falling market demand and performance losses, the stock continued to fall, falling to $1.30 at one point and closing at $1.55 on October 8, bringing the total market capitalization to $1.629 billion. Compared with its debut on the New York Stock Exchange a year ago, the top share price went to $13.80, and its market capitalization was once more than $13 billion. Now it has shrunk by 87%.

Not long ago, analysts at investment firm Bernstein pointed out in a report that Xilai may run out of cash within weeks and lowered its target price to $0.90. You know, $1 is the risk line for delisting.

NIO continues to reduce operating costs. NIO plans to reduce the number of employees from more than 9000 to more than 7000 by the end of September, and continue to reduce the number of employees by the end of the year.

"Crazy money burning" came under financial pressure. "We certainly need more money to support technology research and development, and we are very confident that we will get the support of more investors," NIO executives said on a conference call.

There is an urgent need to increase sales and access to external financing, the market is not as expected is extremely disadvantageous to it, is there a future?

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