Weilai's third-quarter revenue doubled year-on-year and losses narrowed, and plans to deliver new models next year

On November 10, Capital State learned that on November 9, the U.S. stock-listed company NIO (NIO.US) released its unaudited financial report for the third quarter of 2021.

Third quarter, Wei to total revenues of 9.805 billion yuan (RMB, the same below), an increase of 116.6%, growth of 16.1%; net loss of 8.35 billion yuan, up 20.2 percent narrowed, the chain expanded 42.3 percent; his maternal The net loss was 2.859 billion yuan, an increase of 140.7% year-on-year and 333.6% month-on-month; the basic and diluted net loss per share was 1.82 yuan.

During the period, Weilai Automobile's sales revenue was 8.637 billion yuan, a year-on-year increase of 102.4%, the gross profit margin of vehicle sales was 18%, and the comprehensive gross profit margin was 20.3%. Higher average selling prices and low material costs have driven its gross profit margin to increase year-on-year. In the same period last year, its vehicle sales gross profit margin was 14.5%, and its comprehensive gross profit margin was 12.9%.

But compared with the previous quarter, the gross profit margin has fallen. In the second quarter of this year, the gross profit margin of Weilai's vehicle sales was 20.3%, and the comprehensive gross profit margin was 18.6%.

Weilai's delivery volume achieved "6 consecutive increases". In the third quarter, it delivered 24,439 units, a year-on-year increase of 100.2% and a month-on-month increase of 11.6%, setting a new quarterly delivery volume and a positive growth for 6 consecutive quarters. In terms of specific models, Weilai delivered 5418 ES8, 11271 ES6 and 7,750 EC6 in the third quarter.

But its performance is still inferior to its old rivals Xiaopeng Motors and Ideal Motors. According to data, Ideal Auto delivered 25,116 vehicles in the third quarter, a year-on-year increase of 190%. Xiaopeng delivered 25,666 vehicles in the third quarter, a year-on-year increase of 199%. The delivery volume in a single quarter was close to the level of last year.

Weilai predicts that in the fourth quarter of 2021, its vehicle deliveries will be between 23,500 and 25,500, an increase of approximately 35.4% to 46.9% year-on-year, and an increase of -3.8% to 4.3% month-on-month; the total revenue in the fourth quarter is expected to be Between 9.376 billion yuan and 10.105.6 billion yuan, a year-on-year increase of approximately 41.2% to 52.2%, and a month-on-month increase of -4.4% to 3.1%.

In the third quarter, NIO repurchased 1.418% of NIO China's equity from a few strategic investors, with a total consideration of 2.5 billion yuan.

In the third quarter of NIO’s 2021 financial report conference, NIO’s chairman Li Bin said that in the third quarter NIO’s new energy points will be 200,000 points. As the penetration rate of new energy vehicles increases, it is expected that the number of points will increase next year. The more, the corresponding price may drop.

In addition, in the earnings conference call, Wei Lai also revealed the delivery time of the new car. Li Bin said that two new NT2.0 models will be delivered in the second half of next year. The development of NAD's hardware and software systems is also progressing smoothly. The development of two other new models based on the NT2.0 platform is also proceeding as planned, and it is expected to be delivered to users in the second half of next year.

For overseas markets, Li Bin said that next year, he plans to enter at least five European countries and directly provide new models of NT2.0.