At present, the "three Musketeers of American stocks," the "new power of car building," Xiaopeng Automobile, Ulay Automobile, and ideal Automobile, have all released their financial reports for 2020. Although they are all in a state of loss, they have all achieved a substantial reduction in losses, and their gross profits have become regular throughout the year. It's no longer "selling one at a loss".
Xiaopeng's net loss in 2020 was $419 million, down 26% from the same period last year.
On the evening of March 8, Xiaopeng released its unaudited financial data for the fourth quarter of fiscal year 2020 and fiscal year 2020, which ended December 31, 2020. In 2020, gross profit became regular for the first time, and the net loss narrowed significantly compared with the same period last year.
Specifically, for the whole of 2020, Xiaopeng's total revenue was $896 million, up 151.8 per cent from the same period last year; car sales were $850 million, up 155.5 per cent from the same period last year; and gross profit margin was 4.6 per cent (- 24.0 per cent in the same period in 2019). On the profit side, Xiaopeng posted a net loss of 2.732 billion yuan ($419 million), down 26% from 3.692 billion yuan in the previous fiscal year.
In addition, as of December 31, 2020, Xiaopeng had cash, cash equivalents, restricted funds and short-term investments totaling $5.416 billion.
In terms of delivery volume, Xiaopeng delivered a total of 27041 units in fiscal year 2020, up 112.5% from 12728 in 2019.
In addition to Xiaopeng Motor, both the "three Musketeers of American stocks, the new power of car building", (NIO) and ideal car also achieved a substantial reduction in losses in 2020, and realized a positive gross profit margin.
The net loss of Xilai Motor was 5.304 billion yuan, down 53% from the same period last year.
On the morning of March 2, Xilai released its results for the fourth quarter and full year of 2020. According to the financial report, Weilai achieved a revenue of 16.26 billion yuan in 2020, an increase of 107.8% over the same period last year, and a net profit loss of 5.304 billion yuan, down 53% from the same period last year (a net loss of 11.298 billion yuan in 2019).
The gross profit margin of Xilai Automobile reached 17.2% in the fourth quarter of 2020, up about 3 percentage points from 14.5% in the third quarter, and achieved a positive full-year gross profit margin of 12.7% for the first time, compared with-9.9% in the same period last year.
Ideal car's 2020 net loss of $23.2 million fell by 93.8% compared with the same period last year.
On the evening of February 25, ideal Motor released its fourth quarter and full-year results for 2020. The financial report shows that for the whole year of 2020, the total revenue of ideal car is 9.46 billion yuan (US $1.45 billion), of which automobile sales revenue is 9.28 billion yuan (US $1.42 billion) and 281 million yuan in 2019. The main reason for the revenue growth is that ideal ONE, 2020 is the first year of full delivery of ideal ONE in December 2019.
In terms of net profit, ideal had a net loss of 151.7 million yuan ($23.2 million) in 2020, down 93.8 per cent from 2.44 billion yuan in 2019. The company's gross profit in 2020 was 1.55 billion yuan (US $237 million), and the gross profit became a regular one (the gross profit in 2019 was minus 100000 yuan).
In 2020, the collective losses will be reduced, the gross profit will become regular, and the new force of building cars is getting closer and closer to making money. The above three new car-building forces are off to a good start in 2021.
According to official estimates released by Xiaopeng, Ulay and ideal, vehicle delivery and revenue are expected to improve in the first quarter: in the first quarter of 2021, Xiaopeng is expected to have revenue of 2.6 billion yuan and deliver 12500 vehicles; Lulai Motor is expected to be between 7.3823 billion yuan (US $1.1314 billion) and 7.5572 billion yuan (US $1.1582 billion), an increase of about 438% 451% over the same period last year, and vehicle delivery is expected to be 20000-20500, an increase of 421% 434% over the same period last year. Ideal's total revenue is expected to be between 2.94 billion yuan ($451 million) and 3.22 billion yuan ($494 million), an increase of about 245.9% to 278.8% over the first quarter of 2020, and vehicle delivery is expected to be 10500 to 11500, an increase of about 262.6% to 297.1% over the same period last year.
Yu Puritan, secretary-general of Zhongguancun New Battery Technology Innovation Alliance and chairman of the Battery 100 Association, predicts that China's production and sales of new energy vehicles this year are expected to exceed 1.8 million, and optimistically predicted that it is even expected to sprint 2 million. The whole new energy vehicle market will enter the growth period, and the new force of car building is gradually growing into one of the backbone of electric intelligence, and the performance in 2021 is worth looking forward to.
