Revenue in the next quarter is expected to increase by 123.3% year-on-year to 134.3%.
On May 28, before the US stock market, NIO US released its 2020 Q1 financial report.
The financial report shows that the company’s revenue decreased by 15.9% year-on-year to 1.372 billion yuan (“RMB”, the same below), which was higher than Bloomberg’s consensus expectation (1.287 billion yuan) and exceeded the previous guidance given by the company (12.1 to 1.27 billion yuan ) Upper limit. Among them, car sales were 1.256 billion yuan, down 18.2% year-on-year. In the first quarter, Weilai delivered a total of 3,838 vehicles.
In the first quarter, the net loss attributable to shareholders of Weilai Automobile narrowed by 35% year-on-year to 1.723 billion yuan, compared with 2.652 billion yuan at the same period last year; under Non-GAAP, the net loss attributable to shareholders of Weilai narrowed To 1.659 billion yuan.
Weilai founder Li Bin said: “Due to the impact of the new coronary pneumonia epidemic in the first quarter, Weilai delivered a total of 3,838 ES8 and ES6 vehicles, a year-on-year decrease of 3.8%. In April, we delivered 3,155 vehicles, an increase from the previous month 105.8%. At the same time, we have seen that the number of orders has rebounded to the level before the outbreak of the new coronary pneumonia since late April. It is expected that 9500 to 10,000 vehicles will be delivered in the second quarter, which is since our first delivery Quarterly delivery record. “
In addition, Li Bin said that on April 29, Weilai Automobile and strategic investors signed a final agreement on investment in Weilai China. This strategic investment will provide sufficient funds to support NIO ’s business development, strengthen Weilai ’s leading position in smart electric vehicle products and technologies, and provide services that exceed user expectations. In the long run, the establishment of Weilai’s China headquarters in Hefei will further improve the company’s operational efficiency.
In terms of operating expenses, Weilai ’s R & D expenses in the first quarter of 2020 were 522 million yuan, a year-on-year decrease of 51.6%, mainly due to a significant reduction in design and R & D activities due to new viruses. In the first quarter, sales and management expenses were 848 million yuan, a year-on-year decrease of 35.7%.
Looking forward to the next quarter, Weilai predicts that in the second quarter, car deliveries will be between 9,500 and 10,000, an increase of 147.5% to 160.6%. Revenues ranged from 3.368 billion yuan to 3.543 billion yuan, a year-on-year increase of approximately 123.3% to 134.3%.
As of May 27th, Beijing time, 3 of the 14 analysts tracked by Bloomberg gave Weilai a “buy” rating, 9 gave a “hold” rating, and 2 gave a “sell” rating. The average target price is $ 4.45.
Wei Lai closed up 9.16% on Wednesday, at $ 4.17. As of press time, Weilai Automobile fell 2.64% before the market.