After four years of huge losses of 10 billion, Cialis finally made money!

Southern Metropolis Daily

2024-04-29 22:24Posted on the official account of Guangdong Southern Metropolis Daily

On April 29, Cialis (601127. SH) announced its first quarter 2024 results. The reporter of Nandu Bay Finance Society noticed that Cialis has been losing money for four consecutive years since 2020, with a cumulative loss of more than 9.8 billion yuan, and its net profit attributable to the parent finally turned positive in the first quarter of this year.

According to the first quarterly report, the operating income of Cialis during the period was 26.561 billion yuan, an increase of 421.76% year-on-year and 38.61% month-on-month. Cialis explained that the revenue growth was mainly due to the sales of 94,800 new energy vehicles in the first quarter, a year-on-year increase of 374.77% and a month-on-month increase of 14.66%, and the sales of new energy vehicles in a single quarter hit a record high.

In the first quarter, Cialis recorded a net profit attributable to shareholders of listed companies of 220 million yuan, an increase of 845 million yuan over the same period last year. In the first quarter of 2024, the net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 114 million yuan, an increase of 1.038 billion yuan over the same period last year.

It is reported that since 2016, Sailis has continued to invest in the research and development of smart electric vehicles on a large scale for eight consecutive years, and after four years of losses, it will finally achieve operating profit in the first quarter of 2024.

In terms of R&D investment, in the first quarter, the R&D expenses of Cialis were 954 million yuan, an increase of 349 million yuan from the previous quarter. In the case of a significant increase in R&D expenses, the company paid close attention to the contribution of technological innovation costs, built a collaborative innovation and development platform, and achieved accurate and efficient full-chain management, and the operating cost ratio in the first quarter of 2024 was 8 percentage points lower than that in the fourth quarter of 2023. In addition, the sales volume of the new M7 increased, the scale effect was accelerated, and the gross profit margin of the product was increased to 21.5% by efficient internal management.

In terms of cash flow, in the first quarter, the net cash flow of Cialis was 1.187 billion yuan, an increase of 3.355 billion yuan over the same period last year. This is mainly due to the increase in sales of new energy vehicles and the increase in sales receipts. As of the end of the first quarter, the company's total assets were 62.923 billion yuan, an increase of 11.678 billion yuan from the end of 2023, and the asset-liability ratio was 88.27%. It is mainly due to the increase in production and sales volume in the first quarter of 2024, and the balance of accounts payable and notes payable formed by production and operation increased significantly. As of the end of the first quarter of 2024, the gearing ratio was 82.9% after excluding notes payable (full margin).

Written by: Chen Jing'an, reporter of Nandu Bay Finance Agency

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