Shulou(Shulou.com)12/24 Report--

CTOnews.com, December 10, 2023 (21st) Annual meeting of Chinese Business leaders was held in Beijing from December 9 to 10. Li Bin, founder, chairman and CEO of Lulai attended and spoke. Referring to "long-term doctrine", Li Bin said that in today's increasingly volatile economic environment, it takes courage to "pay homage to long-term doctrine."

Li Bin pointed out that long-term thinking can help enterprises develop, and gave examples of two examples that happened to him. "in 2019, Weilai experienced a perfect storm, the situation was endangered, and we thought we were lucky to be alive," Li Bin recalled Weilai 2019. "at that time, there was an article saying that I was the worst person in 2019," he said bluntly. He was really under a lot of pressure at that time. In the fourth quarter of 2019, the pressure of Weilai reached its peak. "wherever our salary is next month, we have to think of a lot of ways to raise and move," Li Bin said. But in December, I suddenly felt that I should discuss some long-term strategies. " In fact, I don't know why I had this idea. I spent several days with the management of the company at that time to discuss what we should do in the next three or five years. But on the other hand, we are still thinking about where the salary will be paid next month, "Li Bin said. however, during the discussion, we reached a consensus to re-look at the layout of R & D and the supply chain in accordance with the new rationality.

Li Bin said that in January 2020, Li Bin was told after paying New year's greetings to Chen Xiang, then chairman of Anhui Investment Group, why not talk to Hefei about government investment? Li Bin said that as soon as he said this, he did not go to Shanghai at that time, returned to the city, met with some leaders of the Hefei Development and Reform Commission and city leaders at that time, and opened the story of Hefei Investment Weilai, which saved Weilai from the intensive care unit.

It is reported that at the beginning of 2020, due to poor financing, the share price of the US stock market plummeted to near the delisting red line of 1 US dollar, facing the test of life and death. The city of Hefei came to help Wei in time, and strategic investors composed of a number of state-owned companies in Hefei invested 11.26 billion yuan in China in a timely "blood transfusion."

CTOnews.com noted that on December 5, Xilai released its third-quarter 2023 results. The revenue of Weilai in the third quarter was 19.07 billion yuan, an increase of 117.4% over the previous quarter, an increase of 46.6% over the same period last year, a record high; delivery volume in the third quarter was 55432, an increase of 135.7%, an increase of 75.4% over the same period last year, a record high; vehicle gross profit margin of 11.0%, a sharp increase from the previous quarter; cash reserves of 45.2 billion yuan, an increase of 13.7 billion yuan over the previous quarter; net loss narrowed sharply, down 24.8% from the previous quarter Expenditure on R & D was 3.04 billion yuan, exceeding 3 billion yuan for four consecutive quarters.

It is worth mentioning that recently, Lulai Automobile has appeared in the credit information management system of vehicle production enterprises of the Ministry of Industry and Information Technology, which means that the company has obtained the qualification of automobile production, and the next step is to build cars independently. However, so far, Xilai has not taken the initiative to disclose this information.

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