tomorrow limit 4 sum 9
#2022年3月30日 #
On March 28, Xiaopeng Automobile released the fourth quarter of 2021 financial report and the 2021 annual financial report. According to the financial report, the annual revenue of Xiaopeng Automobile in 2021 was 20.988 billion yuan, an increase of 259.1% year-on-year, of which automobile sales were 20.042 billion yuan, an increase of 261.3% year-on-year; the net loss in 2021 was 4.863 billion yuan, and the net loss in 2020 was 2.732 billion yuan, an increase of 78.0% year-on-year. In addition, the gross profit margin of Xiaopeng Automobile was 11.5%, and 98,155 new vehicles were delivered in the whole year.
On February 25, Ideal Auto took the lead in releasing its annual financial report. According to the financial report, the total revenue of Ideal Automobile in 2021 was 27.01 billion yuan, an increase of 185.6% year-on-year, of which the automobile sales revenue was 26.13 billion yuan, an increase of 181.5% year-on-year; the net loss in 2021 was 321.5 million yuan, while the net loss in 2020 was 151.7 million yuan, an increase of 111.9% year-on-year. In addition, the gross profit margin of Ideal Automobile was 20.6%, and 90,491 new vehicles were delivered annually.
On March 25, WEIO released its annual financial report showing that in 2021, THE TOTAL REVENUE OF WEILAI AUTOMOBILE WAS 36.1364 billion yuan, an increase of 122.3% year-on-year, of which automobile sales were 33.1697 billion yuan, an increase of 118.5% year-on-year; the net loss in 2021 was 4.0169 billion yuan, down 24.3% year-on-year. In addition, THE GROSS PROFIT MARGIN of NIO was 20.1%, and 91,429 new vehicles were delivered annually.
At this point, the new car-making brand "Wei Xiaoli" has fully released the financial report data. In contrast, the performance of the three car companies in all aspects has its own good and bad, such as the highest revenue of Weilai Automobile, the first delivery volume of Xiaopeng Automobile, and the lowest loss of ideal automobile...
From the perspective of deliveries, Xiaopeng Automobile's performance is still very strong, leading Weilai and Ideal in the fourth quarter and winning the MVP of the new power brand. Among them, Xiaopeng Automobile delivered a total of 98,155 new cars in 2021, leading Weilai Automobile to win the annual sales championship. Weilai Automobile has delivered a total of 91,429 vehicles, and the gap between sales and ideal cars is less than 1,000, but the sales gap with Xiaopeng Automobile has reached 6,700 vehicles, breaking the annual sales title. Ideal Car delivered 14,087 Ideal ONE vehicles throughout the year, although the data is not as good as Xiaopeng Automobile and Weilai Automobile, but from the perspective of single product data, the performance of Ideal Car is the best.
Xiaopeng Automobile's new car is the most sold, but at the same time, the loss has further expanded, becoming the brand with the highest net loss in "Wei Xiaoli". Specifically, in 2021, the net loss of Weilai Automobile also reached 4.016 billion yuan, and the ideal car is the most comfortable, with an annual loss of only 322 million yuan, while the net loss of Xiaopeng Automobile reached 4.863 billion yuan, in the context of a new high delivery volume, its net loss is also the highest, and the net loss of bicycles is about 50,000 yuan. Of course, the increase in the loss of Xiaopeng Automobile is also related to R&D investment, and in 2021, Xiaopeng Automobile's R&D expenditure was 4.114 billion yuan, lower than Weilai Automobile's 4.591 billion yuan but higher than the ideal automobile's 3.296 billion yuan. However, if you look at the proportion of R& D investment in revenue, the R&D investment ratio of Xiaopeng Automobile is 19.6%, higher than Weilai's 12.7% and the ideal 12.2%.
Relative to sales, the gross profit margin of new power car companies is more worthy of consideration. Specifically, in 2021, the gross profit margin of Xiaopeng Automobile was 11.5%, lower than Weilai's 20.1% and the ideal 20.6%. That is to say, the profitability of Xiaopeng Automobile's bicycle is the lowest, only half of Weilai and Ideal. Of course, there are also reasons for the low gross profit margin of Xiaopeng Automobile, at present, Xiaopeng Automobile has three models on sale, G3, P5 and P7, of which G3 and P5 are priced at less than 200,000 yuan, while P7 starts at 239,900 yuan. In contrast, NIO's ES6, ES8, EC6 and the newly listed ET7 and ET5 are basically priced at more than 300,000 yuan, and the same is true for the ideal, which is priced at 349,800 yuan. He Xiaopeng, chairman and CEO of Xiaopeng Motors, said on a conference call. He said that through a series of advanced manufacturing technologies to achieve better cost control, the G9 medium and large SUV listed and sold in the third quarter of this year will enter a higher price range and improve the overall gross profit margin. However, He Xiaopeng also said that he did not consider doing a more high-end brand, "an automobile manufacturer is enough to do a good job of a main brand, if you want to do a sub-brand, it is best to do it independently by an independent team, do not put it in the main team." ”
Of course, with the rise in the price of raw materials at the upstream end, it will also restrict the overall profitability of the new power brand. On the evening of March 18, Xiaopeng Motors announced the price adjustment of the model, affected by the continuous sharp rise in the price of upstream raw materials, Xiaopeng Automobile will adjust the price of the models on sale, and the increase in the price before the subsidy is 10,100 yuan to 20,000 yuan, and the price adjustment will take effect from 00:00 on March 21. On March 23, Ideal Auto said on Weibo that due to the continuous sharp rise in upstream raw materials, Ideal Auto will adjust the price of Ideal ONE from April 1, 2022, and the national unified retail price will be raised from the current 338,000 yuan to 349,800 yuan, an increase of 11,800 yuan. At present, only Weilai Automobile has not announced a price increase. Weilai Automobile responded that it has no intention of increasing prices for the time being.
From the perspective of price increase, Xiaopeng Automobile has raised the range of 10,100 to 20,000 yuan, which belongs to the car companies with large increases. On March 26, He Xiaopeng said in an interview with the media at the 8th China Electric Vehicle 100 Forum that the current price increase is more suitable for Xiaopeng Automobile, and there may be some new ways for car companies with small increases to cover costs, and this year Xiaopeng Automobile will gradually put its main production capacity on models with higher gross profits. For whether the price increase will affect sales, He Xiaopeng said that it has not been affected at present, at this stage, Xiaopeng Automobile has maintained cooperation with several major battery suppliers, and believes that after 1-3 quarters, it will have the ability to control the battery cost problem caused by the rise in material prices.
At present, "Wei Xiaoli" has been listed in Hong Kong and the United States. According to the latest market capitalization statistics, the current total market value of Hong Kong stock WEILAI is HK$282.6 billion (about 230 billion yuan), second only to BYD in China, while the market value of Xiaopeng Automobile and Ideal Automobile is HK$180.7 billion (about RMB147.1 billion) and HK$217.9 billion (about RMB177.4 billion) respectively.
Although from the mainland's 2021 new energy sales data, production and sales have both exceeded 3.5 million vehicles, an increase of 1.6 times year-on-year, but more and more competitors have emerged on the track of new energy vehicles, accelerating the speed of the head reshuffle of the new energy industry, the former "Wei Xiaoli" ranking no longer exists, the new energy vehicle market has opened the first round of elimination, how to get out of the loss has also become a dilemma that major new energy vehicle companies have to face. Of course, focusing on the domestic market, the best brands in the field of new energy vehicles are currently developed in addition to Tesla and BYD, Weilai, Xiaopeng and Ideal are also ranked, but the new energy car is more protracted than the protracted war, which has long been recognized in the industry, and the three car companies are still in a state of loss, where is the inflection point of turning losses into profits? This is also a difficult problem for long-term development.
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