Shulou(Shulou.com)11/24 Report--

CTOnews.com November 10 news, this evening, Weilai released the third quarter of 2022 results. According to the financial report, Lailai's revenue in the third quarter was 13 billion yuan, an increase of 32.6% over the same period last year, setting a new record for a single quarter and growing for ten consecutive quarters.

CTOnews.com learned that in the third quarter of 2022, the gross profit margin of Weilai vehicle sales was 16.4%; R & D expenditure was 2.94 billion yuan, a record high for a single quarter; and cash reserves were 51.4 billion yuan.

In addition, the Q4 delivery guidelines for Weilai 2022 are 43000-48000 units, the highest in a single quarter. The revenue guidance for the fourth quarter was 17.37 billion yuan to 19.23 billion yuan, an increase of 75.4% over the same period last year.

Li Bin, founder, chairman and chief executive of Xilai, said that delivery of 31607 vehicles in the third quarter of 2022, an increase of 29.3% over the same period last year, reached an all-time high.

Specifically, during the reporting period, the delivery volume of Lulai vehicles reached 31607, including 22859 high-end smart electric SUV and 8748 high-end smart electric cars, an increase of 29.3% over the third quarter of 2021 and 26.1% over the second quarter of 2022.

Financial Summary for the third quarter of 2022:

Vehicle sales in the third quarter of 2022 were 11.9327 billion yuan ($1.6775 billion), an increase of 38.2% over the third quarter of 2021 and 24.7% over the second quarter of 2022.

Vehicle gross profit margin was 16.4% in the third quarter of 2022, compared with 18.0% in the third quarter of 2021 and 16.7% in the second quarter of 2022.

Total revenue in the third quarter of 2022 was 13.0021 billion yuan ($1.8278 billion), an increase of 32.6% over the third quarter of 2021 and 26.3% over the second quarter of 2022.

Gross profit in the third quarter of 2022 was 1.7351 billion yuan ($243.9 million), down 12.9 percent from the third quarter of 2021 and 29.5 percent higher than the second quarter of 2022.

The gross profit margin was 13.3% in the third quarter of 2022, compared with 20.3% in the third quarter of 2021 and 13.0% in the second quarter of 2022.

The operating loss in the third quarter of 2022 was 3.8703 billion yuan ($544.1 million), an increase of 290.2% over the third quarter of 2021 and 36.0% over the second quarter of 2022. Excluding equity incentive fees, the adjusted operating loss (non-GAAP) in the third quarter of 2022 was 3.2584 billion yuan ($458.1 million), an increase of 348.6% over the third quarter of 2021 and 38.4% over the second quarter of 2022.

The net loss in the third quarter of 2022 was 4.1108 billion yuan ($577.9 million), an increase of 392.1% over the third quarter of 2021 and 49.1% over the second quarter of 2022. Excluding equity incentive fees, the adjusted net loss (non-GAAP) in the third quarter of 2022 was 3.4989 billion yuan ($491.9 million), an increase of 514.2 per cent over the third quarter of 2021 and 54.3 per cent over the second quarter of 2022.

The net loss attributable to Weilai common shareholders in the third quarter of 2022 was 4.1423 billion yuan ($582.3 million), an increase of 44.9 per cent over the third quarter of 2021 and 50.9 per cent over the second quarter of 2022. Excluding equity incentive fees and the increase in the redemption value of redeemable non-controlling interests, the adjusted net loss (non-GAAP) attributable to Weilai common shareholders in the third quarter of 2022 was 3.4593 billion yuan (US $486.3 million), an increase of 507.2 per cent over the third quarter of 2021 and 58.3 per cent over the second quarter of 2022.

The basic and diluted net loss per ╱ American depositary share per common share in the third quarter of 2022 was RMB2.53 (US $0.36), compared with RMB1.82 in the third quarter of 2021 and RMB1.68 in the second quarter of 2022. Excluding equity incentive fees and added value of redeemable non-controlling interests, the adjusted basic and diluted net loss per American depositary share (non-GAAP) is RMB2.11 (US $0.30), compared with RMB0.36 in the third quarter of 2021 and RMB1.34 in the second quarter of 2022.

As of September 30, 2022, cash and cash equivalents, restricted cash, short-term investments and long-term term deposits were RMB 51.4 billion (US $7.2 billion).

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