Enterprise financial report

In 2020, the revenue is 2.44 billion yuan, and the sales volume is expected to reach one million in 2021 From Calf electric

The following is the In 2020, the revenue is 2.44 billion yuan, and the sales volume is expected to reach one million in 2021 From Calf electric recommended by recordtrend.com. And this article belongs to the classification: Enterprise financial report.

On March 8, 2021, calf electric (NASDAQ: NIU) released its unaudited financial report for the fourth quarter and the whole year of 2020. According to the financial report, in 2020, the operating revenue of calf electric reached 2.44 billion yuan, with a year-on-year growth of 17.7%. In terms of profit indicators, the company’s annual net profit was 169 million yuan, with a gross profit rate of 22.9%.

As for the continuous high-speed growth trend of calf electric sales, calf electric official said that the launch of new models, the development of new market channels and the exploration of new marketing mode are the three key driving forces.

However, the financial report also shows that the gross profit margin in 2020 is 22.9%, which is lower than that in 2019, which is 23.4%.

This may be due to the special situation of last year’s epidemic, which affected the sales of offline stores and increased the related operating costs.

In 2020, maverick electric released mqi2, MQIS, Gova G0, Gova G2 and other new models that meet the requirements of the new national standard. With the advent of lithium electric two wheeled vehicle replacement trend under the implementation of the new national standard, the market position and market share of calf electric, which has a comprehensive layout from the first line to the fourth line, have been further improved.

In terms of international market, in addition to continuing to explore middle and high-end markets such as Europe, calf Electric has also accelerated its pace of entering high potential markets such as Southeast Asia in 2020. According to the local market demand, calf Electric has upgraded its new products and actively explored cooperation with local companies to accelerate the expansion of market share and inject new vitality into the continuous growth of sales performance.

As of December 31, 2020, the total value of cash, time deposits and short-term investment held by calf Electric is 1.103 billion yuan.

In the fourth quarter of 2020, calf electric opened 350 new stores in China, with a total of 1616 stores in China. In the overseas market, the company has 36 distributors, covering 46 countries and regions. By region, the Chinese market accounts for 80% of the net revenue of calf electric, while the overseas market accounts for 20%.

In the fourth quarter of 2020, the overall sales volume of calf electric was 150500 vehicles, with a year-on-year growth of 42%. The revenue was 672 million yuan and the gross profit rate was 25.2%. However, the company’s net profit for the same period was 58.2 million yuan, down 4.1% year on year.

The decline of net profit may be related to the increase of R & D investment. Compared with the same period last year, the revenue cost, operating expenses, sales and marketing expenses and R & D expenses of calf electric in the fourth quarter of 2020 increased. Among them, R & D expenditure increased the most compared with the same period last year. In the fourth quarter of 2020, R & D expenditure was 29.7 million yuan, up 55.7% year on year.

Calf electric, a provider of intelligent city travel solutions, is committed to providing more convenient and environmentally friendly intelligent city travel tools for global users, focusing on the research and development of lithium two wheeled electric vehicles. In October 2018 EST, calf electric officially landed on NASDAQ.

Calf Electric is expected that the company’s revenue in the first quarter of 2021 will be 420 million to 480 million yuan, an increase of 80% – 105% year on year. The annual sales target of 2021 is 900000-1100000 units. Calf electric plans to launch new products in April this year to meet the global market’s personalized demand for continuous iteration and upgrading of personal short travel products.

Calf Electric: 2q20 revenue of 645 million yuan, up 21.6% year on year. Calf electric financial report: Q4 calf electric net profit of 60.7 million yuan in 2019, turning losses year on year. Calf electric financial report: Q3 calf electric net profit of 66.4 million yuan in 2019, turning losses year on year. Calf electric financial report: Q4 calf electric net loss of 32 million yuan in 2018 Loss narrowed Ningde era: net profit of over 4.5 billion yuan in 2019 power battery capacity gradually released Weilai: 1533 vehicles delivered in March, a significant increase of 117% month on month 2q20 delivers more than 10000 units, Weilai: 1q20’s total revenue is 1.372 billion, and 3838 new vehicles are delivered Double year-on-year and create a new high Weilai: the monthly and quarterly delivery volume in September 2020 set a record Weilai: the delivery volume in December 2020 exceeded 7000, and 43728 units were delivered in the whole year

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