Jimei car out of the sea

With map from Canva

In the past year, under the impact of the new crown epidemic, the new energy car market still achieved a counterweight breakout. Not just Tesla, domestic BYD and a new force of the car, Xiaopeng, ideal, etc. in US stocks, also ushered in its own highlight.

It is more than the financing and excellent performance of its laundering, which has strengthened the confidence in the capital market, so that its share price has skyrocketed more than 20 times in just a year, staged the myth of the Jedi counterattack. With the performance of the past year, in 2021, it is more like a fish in the past 2021.

Revenue, gross profit double growth

On April 30, the first quarter of 20021 was announced. According to the financial report, the first quarter of 2021 was averaged 7.982 billion yuan, an increase of 481.8% year-on-year, an increase of 20.1% from the previous month. Whether it is still a year, it is not a good performance.

From a realistic point of view, its reference value is greater than the growth rate. After all, in the first quarter, the domestic auto industry, because the new crown epidemic is almost pressed, and the revenue is sluggish, so its growth is more representative of its true strength, and its 20% increase speed, further proves The true status of it is in the hearts of the car consumers.

In addition to the bright-eyed revenue, its profit performance has also improved significantly. A quarter earnings report show that the business loss of $ 296 million is 68.2%. Behind 68.2% of the losses, it is more and more understandable to save money. According to media reports, with the establishment of the image of the awareness, there have been thousands of travel sales in the past, and now it is reduced to normal level, and many unnecessary expenses are more provincial, no longer spread.

Another reason for the improvement of profits lies in the rapid growth of sales. In the first quarter of 2021, the number of departments in the car was 260, and the total sales volume was approaching half of the year sales (43,000 vehicles), and sales increased by 422.7% year-on-last year, an increase of 15.6% from the previous year. With the rise in delivery, the full-vehicle gross profit margin continues to rise at the speed visible in the naked eye.

According to the disclosed financial data, the gross profit of the 2020 years is 1.873.4 billion yuan, the hair profit is 11.5%, compared with the gross profit margin of -15.3% in 2019, has a significant progress. From the current public gross profit margin, the gross profit margin of the car has grown from -7.4% in the first year of 2020, gradually increased to 21.2% in the first quarter of 2021, and several times the rise.

In addition, high-grade delivery of high-gross ES8 and EC6 and other star models have also driven an overall gross profit margin. According to data, more than 20,000 cars sold in the first quarter of 2021, 4516 ES8, 7456 EC6, and the two totaled more than 50% of the total amount of new cars in the first quarter, in two high gross profit Under the driving of the car, its gross profitability is naturally not difficult to understand.

Continue to add code channels and research and development

According to the official plan of the official, it will focus on the field of channel sales in 2021, as well as the field of basic technology research and development, to thicken the industrial moat of itself.

For example, in the field of channel sales, 2021, the car will add 120 free space, 20 Nio House, and 500 power-saving stations. This channel plan should be said to be the second largest channel plan for the main push of 2018. As early as 2018, Li Bin once released the news: “To build 1100 shift stations in the country, and a considerable number of space, Nio House, etc.” But the past due to various reasons It caused this expansion plan for this to hold.

And today, it is natural to have its inner reasons naturally. On the one hand, there is a more strong financial strength, no longer worrying the problem of lack of money. In the first quarter, its cash and cash equivalents have reached 47.5 billion yuan, and there are so many cash blessings, naturally have a fast-expanded bottom gas.

On the other hand, it is necessary to continue to expand its leading advantages in automobile sales, but also need to continue to expand offline channels. Car sales are not exception to these new forces on the line. In this regard, Ideal car founder Li Xi has said: “There is a place where the wired door shop is 6-7 times more expensive than there is no place.” It can be seen that the importance of online stores on automobile sales.

Compared with Li Xi’s later known, Li Bin bet a lot of energy on the next store from the beginning, which also made it a great advantage in the channel, which is based on its advantages in channel. Help it to go to the forefront of the same industry on sales.

It is necessary to continue to increase investment in the channel in the future.

In addition to the channel, the new generation of power-saving technologies and Baas models that have just been implemented last year will be another important area in which they are next layout.

According to the planning plan, 2021 will be released in 500 shift stations, and the outside world is expected to further promote the military power saving station to achieve networked, scale, and correspondingly, it will follow the research and development in the relevant field, will Not less than 15% of its revenue, this proportion has approached Huawei’s proportion of R & D investment in its revenue. It can be expected that by strengthening channels and power-exchangeing facilities, it is expected to further expand their industries in their industries. The lack of “core” hidden worry

However, from the current perspective, the external situation facing it is gradually improved, but the challenge still exists. From the “short-core” problem that continued until last year, many manufacturers have brought a great impact on domestic manufacturers. This impact is especially obvious for high-end automakers like this.

At the beginning of April this year, Li Bin once said that the prevailing capacity is now 400 vehicles per day, according to 25 working days per month, the monthly capacity can reach 10,000, but is affected by the supply chain (chip and battery), now 7,500 months. Production capacity also has a pressure. In other words, because the chip shortage, the single month production capacity fell by 25%. At the end of March, it is more because of the shortage of chip, and the factory shuts down 5 working days.

According to the six-quarter performance guidelines, there is difficult to achieve more than 7,500 mass production targets per month. In this regard, Li Bin also said in the conference call. From the whole quarter, the production capacity of the full supply chain is maintained between 7,000 to 7,500 units. It has been very difficult. According to industry data, the issue of “refiral” in China will last until the end of the third quarter, and it is expected to be relieved in the end of the year. By this, it is calculated that it will produce more than 22,500 cars due to the shortage of chip shortage.

It is worth noting that this year will be a big year of the daily air production. At the same time, it is still an accelerated capacity expansion while the problem is continuously spreading. Just a day before the financial report released, on April 29th, it was awarded the official launch of the Neopark Xinqiao Intelligent Electric Automobile Industry Park.

It is reported that the initial construction of this industrial park is up to 50 billion yuan, which will build a gathering area with a complete smart vehicle industry chain, including chip, motor, battery, automotive parts, vehicle manufacturing, user service, and completed The output value will exceed 50 billion yuan, and the production capacity of the whole vehicle reaches 1 million, and the battery capacity is 100GWH.

However, according to the media report, the current capacity of the current 1 million may be targeted, not just it is. After all, it is not so big to produce, and in the case where the “chip” is still dragging its capacity, its real production will also be greatly reduced.

Where is the next stop?

Of course, when I gave a long time, the lack of “core” problem is finally the industry problem, which has limited industry impacts. For current new energy automakers, how to promote more market share significance in the world of “carbon neutrics” in the world. As a domestic high-end smart car brand, it is also a quite signal to seize the global market.

As early as November last year, the industry came out of the news, saying that it is preparation to the Sea Division, and the internal code is scheduled to be “Marco Polo Plan”. Nowadays, it is clear that the inherent logic of the sea is also clear. On the one hand, with the acceleration of the electricity of traditional vehicle factory, the external competition faced by the new forces is further intensive, and the footsteps “buy the car” is imminent. Many of the traditional manufacturers, such as BBA, etc., all accelerate the electricization process in the intensive, temporarily inexpensive; in addition, Tesla also can’t eat all overseas markets, it is better to take the BBA electric car “Wings are unbairy”, as soon as possible Watch overseas markets.

On the other hand, Europe is performing harsh carbon emissions policies, which is huge for new energy vehicles. Data show that in 2020, the European passenger car sales exceeded 1.36 million, which exceeded the level of domestic new energy passenger cars last year, which is naturally tempting to eager to expand the new energy manufacturer.

However, there is also the challenge of the sea. Like the country, after the sea, it is necessary to continue with the opponent’s opponents with Tesla, but also need to have a new forces in China. After all, the products that don’t want to have a sea, and Xiaopeng Auto has exported 100 Xiaopeng G3 to Norway, and has been delivered to Norway at the end of last year. The ideal car is also It has declared its own plan for the sea earlier.

Therefore, it is not difficult to foresee it. After it is a sea, Europe will become another new battlefield for the new power of the Chinese market. Perhaps it takes a few years, and the new forces will be in Europe, and the old roads of China’s smartphone manufacturers Huami Ov.

Text / Liu Yong, ID: liukuang110

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