Hundreds of car parks | Must be out of the boutique
Ideal Car has been a bit "on fire" lately!
On February 25, a video circulated on the Internet showed that a suspected ideal ONE caught fire and spontaneously combusted, and the ideal ONE hit a cement pier in the middle of the road, and the body caught fire. The entire body was covered in flames, and smoke billowed from the scene.
The day before, an ideal ONE was in the parking lot, and there was a fire burning, and the fire site was in the front cabin position, and the fire was very fierce. Subsequently, the entire vehicle was burned into an empty shell.
Also on February 25, Ideal Auto announced its financial results for the fourth quarter and full year of fiscal 2021.
According to the financial report, the operating income of Ideal Automobile in the fourth quarter of 2021 was 10.62 billion yuan, an increase of 156.1% year-on-year; the net profit was 295.5 million yuan, an increase of 494.7% year-on-year. Vehicle sales revenue of RMB10.38 billion increased by 155.7% year-on-year. In 2021, Ideal Auto achieved operating income of 27.01 billion yuan, an increase of 185.6% year-on-year; net loss was 321.5 million yuan, an increase of 111.9% year-on-year. Vehicle sales revenue was RMB26.13 billion, up 181.5% year-on-year.
In terms of gross margin, the company's gross profit margin in 2021 was 21.3%, compared with 16.4% in 2020, an increase of 4.9 percentage points year-on-year. For the increase in gross margin, Ideal Auto said it was mainly due to the increase in gross margin of the vehicle.
In terms of sales, Ideal Cars delivered a total of 35,221 Ideal ONE units in the fourth quarter, an increase of 143.5% year-on-year; and delivered 90,491 Ideal ONEs in fiscal 2021, an increase of 177.4% from 32,624 units in 2020. Delivered 12,268 Ideal ONE units in January 2022, an increase of 128.1% over January 2021.
In terms of network, as of January 31, 2022, the company has 220 retail centers covering 105 cities, and operates 276 after-sales maintenance centers and ideal automotive authorized sheet metal spray centers in 204 cities.
In terms of cash flow, the operating cash flow of Ideal Automobile in 2021 reached 8.34 billion yuan, an increase of 165.6% from 3.14 billion yuan in 2020. As of the end of the year, the total cash and equivalents of Ideal Automobile were 50.16 billion yuan.
As sales volumes rise, the demand for production capacity gradually increases. Ideal Auto disclosed in its earnings report that it will build a third plant in Chongqing Liangjiang New Area. Currently, Ideal Cars has two plants. The first is the Changzhou plant, with an annual production capacity of 100,000 units; the second is the Beijing manufacturing base, which officially started construction in October 2021 and is scheduled to be put into operation in 2023.