Fukai summary: CICC pointed out that the abundant orders in hand and the full new orders are expected to support the continued upward trend of deliveries in the first and second quarters of 2024. Author |On February 8, the stock price of Cialis was **563% to 7170 yuan shares ended before the Spring Festival. After two consecutive trading days on February 6 and 7, the market has added a lot of reverie to Cialis. The reason is also very simple, in the household car market in 2023, the stock price performance of Cialis is undoubtedly the brightest star, it not only hit a historical high in November of that year in the 7 years since its listing, but also a stock price of **90 throughout the yearThe 55% increase is impressive. Judging from the recent data released by Cialis, this momentum is still strong. 
Won the monthly sales crown for the first timeOn February 1, a number of new car-making forces such as Wenjie and Ideal successively announced the delivery information for January. Ask the whole system to deliver 330,000 units took the lead, the 2023 sales champion ideal ranked second with a slight gap of 1,808 units, and Xpeng Motors was the only one with sales of less than 10,000 units, ranking last among the seven car companies. According to the official news of AITO Automobile, the whole series of Wenjie increased by 34% month-on-month in January76%。Among them, the delivery of the new M7 reached a new high, with a monthly delivery of 3130,000 new vehicles, the first time to achieve a monthly delivery of more than 30,000 units, since its launch in September 2023, the new M7 has accumulated more than 140,000 units. Yu Chengdong said on Weibo, "Our estimate of the popularity of smart cars has been conservative, and Yu Dazui has become Yu Xiaozui." The next priority is to work with partners to ensure high-quality deliveries and get more new cars into the hands of consumers. "This round of sales boom of Cialis began in September 2023, and on September 12, AITO Wenjie new M7 was officially launched, and the cumulative number of Dading exceeded 100,000 in two and a half months. Industry insiders pointed out that traditional car companies often take the way of "squeezing toothpaste" to gradually launch facelifts after a new model is listed, but the new M7 as a facelifted car, greatly exceeds market expectations, and has undergone drastic upgrades in terms of body, chassis and performance, with a total of more than 140,000 units, becoming a phenomenal product in the industry. On February 5, the Cialis Super Factory was completed and put into use in Chongqing Liangjiang New Area. As the production base of Wenjie M9, Sailis Super Factory is one of the world's leading intelligent manufacturing bases for new energy vehicles, built in accordance with international leading standards and industrial Internet requirements, to achieve the intelligent connection of equipment data and all things, with high efficiency, intelligence, cutting-edge, green four characteristics, can realize the flexible production of SUVs, cars, MPVs and other full-size models, known as the new benchmark of China's new energy vehicle intelligent manufacturing factory. The above-mentioned person further pointed out that with the company's production capacity "vertical volume", the AITO Wenjie M9 with higher price and gross profit margin will become another major revenue growth point of Cialis, at the same time, superimposed on the factors of ** chain and battery cost reduction, Cialis is expected to usher in a profit inflection point in the first quarter, and then become one of the fastest new energy vehicle companies to achieve profitability.
The challenges remain dauntingHowever, from an industry-wide perspective, the next challenges remain daunting. According to the 2023 performance forecast announced by Cialis, the net profit loss is 2.1 billion yuan and 2.7 billion yuan, and the non-net profit loss is 4.6 billion yuan and 5 billion yuan, with a cumulative loss of 116 in three years8.9 billion 120$8.9 billion. As for the reasons for the pre-loss, Cialis said that on the one hand, the R&D investment in the core technology and products of high-end intelligent electric vehicles is high, resulting in an increase in R&D expenses and labor costs; On the other hand, low sales in the first three quarters and higher fixed expenses and related expenses had an impact on the results. As of the first half of 2023, NIO has lost 1079.3 billion yuan, which is almost the sum of the losses of Xiaopeng, AVATAR, Deep Blue, and Leap in the first half of the year. For every car sold in the first half of the year, NIO lost about 200,000 yuan. In fact, from the moment the new power brand was established, loss is the main theme, except for Li Auto to turn losses into profits in 2023, the new forces of car manufacturing are in a state of loss. Thanks to the turnaround in performance, Li Auto's year-end bonus has also become a hot topic on the whole network. Li Xiang, CEO of Li Auto, said on February 5, "We can't just learn Huawei's process, but not Huawei's benefit distribution, we insist on two synchronous learning and mutual binding." In 2023, more bonuses will be paid if the target is exceeded, and less bonuses will be paid if the goal is not achieved in 2022, so that the rewards and punishments are clear." But for the market in 2024, I believe Li Xiang will not be easy. It's not just that the monthly sales crown is falling, but what is more severe is that Tesla has taken the lead in setting off a first-class war, Model 3 and Model Y have cut prices one after another, hitting the lowest price in history, and Ideal, Chery, and Xiaopeng have announced follow-up price cuts. Zhu Jiangming, founder of Leapmotor, said that in 2024, the competition among car companies will definitely be more volatile and more intense than the original, and there will be room for decline. Lang Xuehong, deputy secretary-general of the China Automobile Dealers Association, said that most of the peak demand for cars before the Spring Festival actually came from consumers in lower-tier cities and rural areas, who are more inclined to choose traditional fuel vehicles. This will cause the penetration rate of new energy vehicles to drop briefly in January, and relevant new energy vehicle companies will feel certain pressure. Disclaimer of WarrantiesThe information published by Fukai Finance does not constitute investment advice, and accordingly, the investment risk is borne by the original article of Fukai Finance.