[CEO Li Bin: the gross profit margin in the second quarter will definitely become positive.] Li Bin, CEO of Lulai Motor, said in an interview that the gross profit margin in the second quarter will definitely become positive, and the loss is narrowing.

[Tesla has a market capitalization of nearly $300 billion Musk: my goal is $500 billion] maybe we really can't imagine where Tesla's ceiling is. On July 23, Tesla announced its results for the second quarter of this year. Tesla's revenue and free cash flow exceeded expectations in the quarter, making it profitable for four consecutive quarters, according to financial data.

[Tesla's vice president of employee demand growth says they need more employees] on July 24th, electric carmaker Tesla is in a better position to deliver more than 90000 electric vehicles to consumers in the second quarter, with revenue of more than $6 billion and four consecutive quarters of profit, even after the Fremont plant was shut down for more than a month. While the performance is improving, Tesla's factories are also expanding. Their super factory in Shanghai has begun large-scale construction this year, and the Berlin super factory has also started this year. The Model Y produced by both factories is scheduled to start delivery next year.

[the number of new energy passenger cars sold in June: Tesla hit a new high, and the cumulative total of ES6 reached 10,000] according to the insurance data of traffic insurance, the number of domestic new energy passenger vehicles in June 2020 was 77400, down 59.32% from the same period last year. In the pure electric car market, the personal risk of Tesla's domestic Model 3 is 13314, accounting for 88.9%, a new high. In terms of pure electric SUV/MPV, ES6 ranks first, and its cumulative risk volume has broken through the 10, 000 mark at present.

Although sales of new energy vehicles have increased significantly in recent years, insufficient mileage and inconvenient charging are still constraints on the development of the industry. In order to solve these pain points, many companies spend a lot of money on developing high-energy batteries, laying DC fast charging piles and even super charging piles on a large scale. Extreme Dynamics, a startup, decided to find another way.

[Tianfeng Securities: speeding up the electrification of vehicles in the public domain and optimistic about leading sanitation vehicle enterprises] on July 23, Xin Guobin, vice minister of the Ministry of Industry and Information Technology, said that it is necessary to speed up the Development Plan of New Energy vehicle Industry (2021-2035). At present, the planned research work has been completed and reported to the State Council. Tianfeng Securities pointed out that the trend of electrification of vehicles in the public domain is clear, and new energy sanitation vehicles are expected to accelerate infiltration. With the upgrading of products in the sanitation vehicle industry, product prices, profit margins and market concentration will be improved. The total mechanization rate of cities and counties in China is 67.68%, reaching the stage of basic sanitation equipment, and the mechanization rate varies greatly among different regions. It is expected that the demand for stock renewal will gradually rise in the future. With the national requirements of new energy vehicles in the public domain, incremental products will develop in the direction of new energy and intelligence. It is suggested to pay attention to the Yingfeng environment and Longma sanitation in advance in the field of new energy sanitation vehicles.

SMM Cobalt Lithium small Metal Research team

Hu Yan 021 Murray 51666809

Qin Jingjing 021 Murray 51666828

Mei Wang Qin 021 Mui 51666759

Huo Yuan 021 Murray 51666898

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