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

Thanks to CTOnews.com netizens for the delivery of the clues of bold, rain and snow, and suffering march! CTOnews.com August 9 news, ideal Motor yesterday released the latest financial results, the second quarter revenue of 28.65 billion yuan, estimated at 27.21 billion yuan, the same period last year 8.73 billion yuan, an increase of 228.1%; delivery volume of 86500 vehicles, 28700 vehicles in the same period last year.

At the earnings report for the second quarter of 2023, ideal Motor Chairman and CEO Li Xiang shared the main recent developments of ideal Automobile, as well as the performance outlook for the third quarter of 2023 and other issues of concern. The main contents of CTOnews.com summary are as follows:

Delivery of ideal cars is expected to reach 100000 to 100000, 000 units in the third quarter of this year. For the whole of this year, ideal cars are confident that they will exceed the annual delivery target set at the beginning of the year by 10-20% and exceed the annual revenue target of 100 billion yuan. And by the end of this year, the monthly delivery milestone of 40,000 vehicles will be hit.

In the second half of the year, ideal cars will continue to open urban NOA to early bird users, and will launch the early bird test of commuter NOA to popularize urban smart driving to more families.

Ideal Motors' first 5C pure electric super flagship model, the ideal MEGA, will be released at the end of this year. Li Xiang said that he is confident that the ideal MEGA will become the first new explosive product with sales of more than 500000 yuan.

In addition, three test-run pictures of the new MPV model appeared online today, somewhat similar to the ideal MEGA model currently warmed up by the government. The car is streamlined as a whole, much like a "warhead", and the second row will use separate rails. The ideal MEGA will use an 800V high voltage platform with 5C Kirin battery, which will be released in the fourth quarter of this year.

The actual record of ideal Automobile's second quarter results: [01 delivery volume and major developments]

Ideal achieved a number of delivery milestones in the second quarter of 2023, with monthly delivery of more than 30,000 vehicles in June. Total delivery in the second quarter reached 86533, three times that of the same period last year, and delivery in the first half of this year has exceeded the total for the whole of 2022. In early July, we delivered the 400000 ideal car, which took 42 months since its official delivery in December 2019, making it the fastest new car-building force in the country to reach 400000 deliveries, of which the delivery of the 300000 to the 400000 took less than 4 months. Our delivery volume in July also reached a new high of 34134 vehicles, with cumulative delivery exceeding 430000.

Thanks to our strong product strength, as well as the overall improvement of organizational processes and operating capabilities, the three models of the ideal L series have maintained the lead in sales in their respective market segments, with a cumulative delivery of more than 200000 vehicles since their launch in June last year. According to Sinochem data, in the second quarter, ideal L7 won the title of medium and large SUV sales of more than 300000 yuan; ideal L8 was still the first choice for six SUV seats over 300000 yuan; and ideal L9 continued to lead the list of full-size SUV sales. Ideal car has become the highest-selling Chinese luxury brand in the Chinese market; our sales of new energy brands worth more than 200000 yuan in China remain in the top three, with a market share of about 11% in the first quarter to about 14% in the second quarter.

Our financial performance has also continued to improve, driven by delivery growth and operational excellence. In the second quarter, the company's revenue, net profit and free cash flow and other financial data all set a record, with total revenue of 28.65 billion yuan, an increase of 228.1% over the same period last year, net profit of 2.31 billion yuan, and free cash flow of 9.62 billion yuan. We believe that ideal car's excellent self-hematopoietic ability and abundant cash on hand will firmly support us to spare no effort to invest in research and development, recruit talents, accelerate business expansion, and establish long-term competitive barriers.

[02 third quarter 2023 results outlook]

Delivery of ideal cars is expected to reach 100000 to 100000, 000 units in the third quarter of this year. For the whole of this year, we are confident that we will exceed the annual delivery target set at the beginning of the year by 10-20% and exceed the annual revenue target of 100 billion yuan. And by the end of this year, the monthly delivery milestone of 40,000 vehicles will be hit. In order to support the realization of the delivery target, we will continue to enhance the synergy of production, supply and marketing, continue to enhance production capacity, and enhance supply capacity by optimizing supply chain management strategies and upgrading management processes.

Intelligent driving

In terms of smart driving, we have made rapid progress this year. In June 2023, we launched a test drive of NOA and commuter NOA, China's first city that does not rely on high-precision maps, on Wangjing Road, one of the most complex roads in Beijing, and launched the urban NOA function to early bird users in Beijing and Shanghai. In the aspect of perception, through the innovative NPN features and TIN network to enhance the BEV model, real-time perception of complex road structures, understanding of traffic rules; through the Occupancy network to identify general obstacles, while using imitation learning in the regulation and control algorithm to make judgments that are more like human drivers.

Test driving users and the media spoke highly of the driving sense of security, driving efficiency and comfort shown by the ideal AD Max. In the second half of the year, we will continue to open urban NOA to early bird users, and we will launch the early bird test of commuter NOA to popularize urban smart driving to more families. At the same time, users are more and more accustomed to enjoying the ease and convenience brought by the high-speed NOA. So far, we provide high-speed NOA function for more than 380000 home users; high-speed NOA mileage exceeds 230 million km.

Product

In terms of pure electric models, on the first Home Technology Day of ideal cars in June 2023, we introduced an 800 volt high voltage fast charging solution to optimize the battery and battery thermal management system of high voltage pure electric models. Make more full use of the 5C charging rate of the battery, the peak charging power of more than 500 kilowatts can be achieved, and the battery can last 500 kilometers in 12 minutes. With the self-built 5C super charging network of ideal car, the replenishment experience of ideal automobile pure electric users is also very similar to that of fuel vehicles.

Our first 5C pure electric super flagship model, the ideal MEGA, will be released at the end of this year. We are confident that the ideal MEGA will become the first new explosive product with sales of more than 500000 yuan.

At the same time, we are also actively laying out the 5C supercharging network. so far, ideal car has built and operated 37 ideal 5C supercharging stations across the country. We will speed up the construction of the infrastructure network, with the goal of building more than 300 by the end of this year and more than 3000 ideal 5C supercharging stations by the end of 25. Provide a fast and reliable charging experience for ideal automotive pure electricity users.

We firmly believe that the extended range technology with large batteries and high-efficiency extenders as the core, and the high-voltage pure electric technology that really solves the problems of slow charging speed and long-distance charging, the two routes are parallel, which is the best way to replace fuel vehicles on a large scale.

Sales and service network

In terms of sales and service network, in order to support the rapid increase in sales volume, we accelerate the expansion and upgrading of the online and offline integrated direct sales and service network. While opening shopping malls in the shopping center, we have increased the proportion of central stores in the car sales park to meet the car purchasing habits and needs of different users, and further improve passenger flow and order conversion. In the second quarter, we added 32 new retail centers and upgraded 18 existing stores by changing locations or expanding the area. As of July 31, 2023, there are 337 retail centers in China, covering 128 cities, and 323 after-sales maintenance centers and authorized sheet spray centers, covering 222 cities.

In the future, we will continue to take continuous growth as the core driving force, continue to learn and train, and polish our two most important products, namely, smart electric vehicles for home users and organizational processes for internal talents and teams. better support the development of ideal cars from 1 to 10.

Related readings:

"the spy photo of ideal's first pure electric model, MEGA, was exposed and launched at the end of the year."

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