On the afternoon of February 25, Ideal Auto officially released the fourth quarter and 2021 annual financial report.
According to the financial report, Ideal Automobile achieved revenue of 10.62 billion yuan in the fourth quarter, delivered 35,200 new cars, and its quarterly revenue exceeded 10 billion yuan for the first time. In 2021, it achieved revenue of 27.01 billion yuan and delivered 90,500 new vehicles, both sets of data hit a record high. As of the end of the fourth quarter, the company's cash reserves reached 50.16 billion yuan.
Chart: Revenue
In terms of sales, 90,491 vehicles were delivered in 2021, an increase of 177.4% year-on-year, automobile sales revenue reached 26.13 billion yuan, an increase of 181.5% year-on-year, and the gross profit margin of vehicles was 20.6%.
Chart: Deliveries
It is worth mentioning that the ideal ONE, the only model on sale under Ideal Auto, has been delivered for three consecutive months, with a single monthly delivery volume exceeding 10,000, setting a record for the delivery of Chinese luxury brand models of more than 300,000 yuan, and winning the 2021 high-end new energy SUV sales champion.
Chart: Operating cash flow
In terms of net profit, the net profit in the fourth quarter was 295.5 million yuan, and under the premise of significantly increasing R&D investment and accelerating the expansion of the sales network, the fourth quarter still achieved profitability, with operating cash flow reaching 3.84 billion yuan, an increase of 110.7% year-on-year, and the annual operating cash flow reaching 8.34 billion yuan, an increase of 165.6% year-on-year. Net loss for the full year 2021 was RMB321.5 million, an increase of 111.9% year-on-year.
Chart: Net profit in 2021
Other sales and service revenue in 2021 was 881.3 million yuan, which was mainly attributed to the increase in automobile sales, which led to the sales of charging piles, after-sales, accessories and new energy points.
Ideal Expects to deliver 30,000 to 32,000 units in the first quarter of 2022, up 138.5% to 154.4% year-on-year, and revenue of RMB8.84 billion to RMB9.43 billion, up 147.2% to 163.7% year-on-year.
According to previous plans, Ideal Auto is developing the X platform, plans to launch a second range extender SUV this year, positioned higher than ideal ONE, and plans to launch at least 2 high-voltage pure electric vehicles per year from next year.
In terms of capital market, the US stock market closed at 24 Us Eastern Time, Ideal Auto closed at $27.36, down 0.87%, and the company's latest market value was 28.2 billion US dollars; as of the close of Beijing time on the 25th, Ideal Auto closed at HK$109.5, up 4.78%, and the company's latest market value was HK$226.2 billion.
summary:
In the segment of new energy vehicles, the ideal ONE of "walking on two legs" without plugging in and refueling has taken the different route of most new energy vehicles - range extended range electric vehicles, which focus on differentiation product routes very cleverly cater to the current electric vehicle market, and well meet the user needs of "300,000-350,000 yuan luxury car price range, pure electric unit-driven SUVs and no endurance anxiety", which is also the key factor for the success of the car.