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

CTOnews.com, April 30 (Xinhua)-- Zero has released its financial results for the first quarter of 2023. In the first quarter of this year, zero-running income was 1.4425 billion yuan, down 28 percent from the same period last year and 52 percent from the same period last year; the net loss was 1.133 billion yuan, compared with-1.0422 billion yuan in the same period last year, and-1.325 billion yuan in the previous quarter; gross profit margin was-7.8 percent in the same period in 2022,-26.6 percent in the same period in 2022, a sharp improvement over the same period last year, and-6.9 percent in the fourth quarter of 2022, slightly lower than the previous quarter.

The total delivery volume of zero-running cars in the first quarter was 10509, down 51.3 percent from the same period last year, including 3925 T03, 5292 C11 and 1292 C01.

In terms of R & D expenses, in the first quarter, the R & D expenditure on zero-running cars was 412 million yuan, an increase of 70 percent compared with 243 million yuan in the same period in 2022 and a decrease of 14 percent from 480 million yuan in the fourth quarter of 2022.

CTOnews.com briefly summarizes as follows:

Financial aspects:

The income was 1.442 billion yuan, down 28% from the same period last year and 52% from the previous month.

The operating loss is 1.1596 billion yuan and the equity holder is 1.133 billion yuan.

Gross profit margin-7.8%, an improvement from 26.6% in the same period last year

Expenditure on R & D was 412.4 million yuan, an increase of 70% over the same period last year.

Sales expenditure was 393.2 million yuan, an increase of 142% over the same period last year.

Administrative expenditure was 180.7 million yuan, an increase of 17% over the same period last year.

The balance of cash and cash equivalents, financial assets and time deposits is 8.8799 billion yuan.

Free cash flow is-2.9514 billion yuan

Production and marketing:

Delivery of 10509 vehicles in the first quarter, a decrease of 51.3% over the same period last year

T03 delivered 3925 vehicles, a decrease of 71.5% compared with the same period last year.

The delivery volume of C11 was 5292, a decrease of 32.1% over the same period last year.

Delivery of 1292 C01 vehicles will begin in September 2022

As of 3.31, there were 592 stores in 180 cities.

Zhu Jiangming, founder, chairman and CEO of Zero Motor, said, "We mainly introduced 2023 models in the first quarter of 2023, and the delivery of new models began in mid-March 2023. Before the launch of the new models, we also adjusted the sales and production of old models, superimposed the impact of the Spring Festival holiday and the cancellation of government subsidies related to the promotion of new energy vehicles, and the number of vehicles delivered decreased significantly in the first quarter of 2023. This also led to a decline in financial data for the first quarter of 2023 compared with the same period last year and month-on-month. "

Zhu Jiangming also mentioned that based on his understanding of the new energy vehicle industry, Zero believes that the market will continue to grow at a high speed and full of challenges in 2023, and the company completed the iteration of all models for sale in the first quarter of 2023. 2023 new models were launched on March 1, 2023, which will continue to improve the competitiveness of products. In addition, the company's self-research and accumulation of core components has also begun to make a breakthrough, electric drive products, battery products have received external orders, will soon begin to supply to third parties.

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