The following is the 4q20’s revenue was 4.15 billion yuan, up 65.2% on a month on month basis From Ideal car recommended by recordtrend.com. And this article belongs to the classification: Enterprise financial report, Investment & Economy, New energy vehicle industry, Smart car.
On February 25, 2021, ideal automobile (NASDAQ: Li, hereinafter referred to as “ideal automobile” or “company”) released its unaudited financial reports for the fourth quarter of 2020 and 2020 as of December 31, 2020.
In the fourth quarter of 2020, the company delivered 14464 ideal one vehicles, with a month on month growth of 67.0%, setting a new record for quarterly delivery. In 2020, the annual delivery volume will be 32624 vehicles.
As of December 31, 2020, the company has 52 retail centers in 41 cities, 114 after-sales maintenance centers and authorized B & P centers, covering 83 cities.
In the fourth quarter of 2020, automobile sales revenue was RMB 4.06 billion (US $629.9 million), an increase of 64.6% compared with RMB 2.46 billion in the previous quarter.
The gross profit rate of automobile sales in the fourth quarter of 2020 is 17.1%, which is lower than 19.8% in the previous quarter. The main reason for the decline is the decrease of one-time rebate of suppliers in the fourth quarter.
The total revenue in the fourth quarter of 2020 was RMB 4.15 billion (US $635.5 million), an increase of 65.2% over RMB 2.51 billion in the previous quarter.
In the fourth quarter of 2020, the gross profit was 724.6 million yuan (US $111 million), an increase of 45.9% over 496.8 million yuan in the previous quarter.
In the fourth quarter of 2020, the gross profit rate was 17.5%, which was lower than 19.8% in the previous quarter. The main reason for the decrease was the decrease of gross profit rate of automobile sales.
The operating loss in the fourth quarter of 2020 was 78.9 million yuan (US $12.1 million), down 56.2% from 180 million yuan in the previous quarter. The non US GAAP operating loss in the fourth quarter of 2020 was 71.1 million yuan (US $10.9 million), up 58.0% from 45 million yuan in the previous quarter.
The net profit in the fourth quarter of 2020 was 107.5 million yuan (US $16.5 million), while the net loss in the previous quarter was 106.9 million yuan. The net profit of non US GAAP in the fourth quarter of 2020 was RMB 115.4 million (US $17.7 million), an increase of 621.3% compared with RMB 16 million in the previous quarter.
As of December 31, 2020, the company’s cash reserves have reached 29.87 billion yuan (US $4.58 billion).
Fy2020 performance summary
In 2020, the automobile sales revenue will be RMB 9.28 billion (US $1.42 billion) and RMB 281 million in 2019. The company starts to deliver ideal one in December 2019, and 2020 is the first year for complete delivery.
The gross profit margin of automobile sales will be 16.4% in 2020 and 0.5% in 2019.
The total revenue will be RMB 9.46 billion (US $1.45 billion) in 2020 and RMB 284.4 million in 2019.
In 2020, the gross profit will be 1.55 billion yuan (237.4 million US dollars), and in 2019, the gross profit will be negative 100000 yuan. The gross profit rate will be 16.4% in 2020 and 0.0% in 2019.
The operating loss in 2020 is RMB 669.3 million (US $102.6 million), down 64% from RMB 1.86 billion in 2019. The operating loss of non US GAAP in 2020 is RMB 526.5 million (US $80.7 million), down 71.7% from RMB 1.86 billion in 2019.
The net loss in 2020 will be RMB 151.7 million (US $23.2 million), down 93.8% from RMB 2.44 billion in 2019. The net loss of non US GAAP in 2020 was 281.2 million yuan (US $43.1 million), down 86.0% from 2.01 billion yuan in 2019.
Li Xiang, founder, chairman and CEO of ideal auto, said: “in the context of the once-in-a-hundred-year transformation of the auto industry to intelligent electric vehicles, in 2020, the company will have a perfect ending with the rapid growth in the fourth quarter. In this quarter, we delivered 14464 ideal ones, up 67.0% month on month. In 2020, ideal one customers will pay 32624 vehicles, becoming China’s annual new energy SUV sales champion. This outstanding performance is due to our unique product positioning and excellent product value, as well as our focused product strategy and quality and quantity production capacity, which are the key pillars of our business. “
“Looking forward to the future, we will accelerate the development of the second generation extended range platform and pure electric high voltage technology, adhere to the brand positioning of luxury intelligent electric vehicles, enrich our product line, launch more intelligent electric vehicles to cover a wider range of family users’ needs, and continue to create maximum value for users. With the launch of new models, especially the full-scale high-end SUV based on the new architecture to be launched in 2022, we are planning the technical transformation of Changzhou factory. With the establishment of Shanghai R & D center, we will accelerate R & D in an all-round way.
“After successfully completing the first stage of the strategic cycle, ideal auto has entered the second stage of the strategic cycle this year, and we will continue to move towards our mission of” creating a mobile home and a happy home. ” Li wants to conclude.
Li Tie, ideal’s CFO, added: “our strong performance in the fourth quarter once again demonstrates our effective product strategy and excellent operational efficiency. Our total revenue reached RMB 4.15 billion, an increase of 65.2% over the third quarter, significantly exceeding the upper limit of our revenue guideline by 22.4%. Our gross profit margin in the fourth quarter was 17.5%, which maintained a strong momentum, reflecting our good production efficiency and strict cost management. It is worth mentioning that our operating cash flow almost doubled compared with the previous quarter, reaching a record of 1.82 billion yuan. We have raised more than 1.53 billion US dollars through the successful issuance of ads, which has laid a solid financial foundation for us to strengthen the investment in automatic driving technology and pure electric vehicle platform in the future. We are very happy to enter 2021 with a positive momentum, and look forward to our smooth implementation of the blueprint and creating value for our users and shareholders. “
For the first quarter of 2021, the company expects to deliver 10500 to 11500 vehicles, an increase of 262.6% to 297.1% over the first quarter of 2020. The total revenue ranged from 2.94 billion yuan (US $450.6 million) to 3.22 billion yuan (US $493.5 million), an increase of 245.9% to 278.8% over the first quarter of 2020.
This business outlook reflects the company’s current and preliminary views on business and market conditions, which may change.
Ideal car prospectus: revenue of 852 million yuan in the first quarter ideal car: 4646 vehicles delivered in November 2020, a record of single month delivery volume ideal car: total revenue of 3q20 was 2.511 billion yuan, an increase of 28.9% year on year Double year-on-year and make new innovations Gao Weilai: summary of 2q20 telephone conference predicts that Q3 will deliver 11000 rental batteries, lowering the threshold Ningde times: net profit in 2019 will exceed 4.5 billion yuan, power battery capacity will gradually release Wei Lai: sales volume will triple in May, creating a monthly delivery record Wei Lai: Total revenue of 1q20 will be 1.372 billion, new cars will be delivered 3838 Wei Lai: 1533 cars will be delivered in March Li Bin said Hefei factory capacity will reach 4000 sets / month Tesla: 4q20 revenue will reach US $10.744 billion, a year-on-year increase of 46%. Weilai: sales will reach a new high in June 2020, 2q20 delivered more than 10000 units. Weilai: 2q20 revenue will reach US $3.72 billion, a year-on-year increase of 146.5%. Tesla: 1q20 net profit will reach US $16 million, a year-on-year turn from loss to profit
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