On the side, Huawei has suffered a huge loss of 15 billion in 5 years
At the end of last week, with the release of the "2023 Annual Results Pre-loss Announcement" by Cialis Group, the above topic suddenly appeared on major new ** platforms with a burst of fire.
In view of the fact that in September and December last year, Cialis successively launched the new M7 and the M9 two phenomenal models that shook the industry, so the news of huge losses that has lasted for several years is inevitably in strong contrast. So soon, some good people made it up - "Follow the eldest brother, and I will be hungry for nine meals in three days." ”
A few days ago, the author was "lying flat" at home because Siyang, so the comments and analysis will be made up today.
First of all, let's take a look at the loss of Cialis in 2023.
According to the announcement issued by Cialis Group Co., Ltd. on January 24, the company's annual operating income in 2023 will be 35,536.5 billion yuan, a year-on-year increase of 4.%.09~7.02%。Regarding quarterly revenue, the official data given is a total of 166 in the third quarter800 million yuan.
Although the very critical fourth-quarter data is not given directly here, it is estimated that it will not be detailed until the company's annual financial report scheduled to be released on April 30 this year, but the total amount is reversed based on the total revenue of the first three quarters and the full-year data.
At this moment, the production work of the Liangjiang factory and the Phoenix factory of Cialis continues to be in full swing, and there are many orders and will not stop production until this Spring Festival.
From this calculation, it can be concluded that the revenue scale of Cialis in the fourth quarter of 2023 will reach 1882~198.200 million yuan. That is, the revenue in the fourth quarter of last year, more than the total revenue of the first three quarters, and compared with the same period in 2022, the growth reached a staggering 7137~80.48%。
In terms of net profit, it is estimated in the performance forecast that the net profit attributable to the parent company of Cialis Group in 2023 will be a loss of 2.127 billion yuan. The reason for the uncertainty of the scale of 600 million yuan is that the data in the last quarter of last year has not yet been actuarially completed.
Although the performance is still in the red, considering the full year of 2022 38The net loss of 300 million yuan was 29% year-on-year54%~45.2%。Moreover, considering the significant increase in revenue in the fourth quarter, the loss or not is still considered in two cuts.
According to the third quarter financial report that has been given, Cialis lost a total of 22 in September last year9.4 billion yuan. In this way, the company's single-quarter net profit attributable to the parent company in the fourth quarter is expected to be in a loss of 40.6 billion yuan to profit 1between 9.4 billion yuan.
This means that even if the final full financial report is given, the group's net profit in the fourth quarter of last year increased by 64% year-on-year according to the minimum value92~116.77%。Considering that the annual net profit attributable to the parent company of CITIC has a loss of 32200 million yuan, the current results can be said to be extremely eye-catching.
The reasons for the outstanding performance of Cialis Group in the fourth quarter of last year can actually be seen at a glance.
On September 12, 2023, AITO Wenjie's new M7 was launched in a high-profile manner, and then it exploded online and offline, and became a phenomenon model for a while. As of January 20 this year, according to Yu Chengdong, chairman of Huawei Automotive BU, the cumulative mass of the new M7 has exceeded 130,000 units.
The fiery is understandable. Although the model is called an annual facelift, it has actually improved a lot - not only correcting the original defects (reinforcing the A-pillar problem, but also further strengthening the structural strength of the body), and also adding Huawei's intelligent driving system. In addition, in terms of price, it is significantly lower than the original model, ** range from 24From 980,000 yuan, up to 32980,000 yuan, a reduction of 40,000 yuan.
With Huawei's blessing of intelligence as the selling point, and at the same time, the lower price has greatly pushed up the cost performance of the product, so the new M7 has swept away the previous decline after its launch. After 60 days of launch, the cumulative scale has exceeded 100,000 units. According to the official statement, the vast majority of orders are not for configuration, of which the "intelligent driving version" of Huawei's intelligent driving system accounts for more than sixty percent. In the fourth quarter of last year, as Huawei successively opened up its urban intelligent driving services in many cities in China, the proportion of car owners who chose to open the service reached 75% of all users of the intelligent driving version of the model.
Even due to the unprecedented popularity of the new M7, the Cialis side, which exceeded expectations, immediately encountered the problem of insufficient production capacity.
The Cialis Phoenix plant still needs to ramp up its production capacity.
Since 2022, Sailis has started the upgrade of the Liangjiang plant. And in Fenghuang Town, Shapingba District, Chongqing, the construction of the second smart factory was started at the same time. However, until September last year, although the main construction of the second factory in Fenghuang Town has been completed, it still takes time to complete the commissioning of the production line.
In addition, I believe some people must remember that after the new M7 appeared in October last year, Yu Chengdong and Cialis officially said that "urgently invest 1 billion yuan in the ** chain to ensure production capacity". And this money has to be included in the cost for the time being.
On October 13 last year, Yu Chengdong visited the Cialis Liangjiang Smart Factory and Chen Nuo invested one billion yuan in the ** chain to ensure production capacity.
From the beginning of October last year to the present, the top priority of Sailis and its partner Huawei has been to find ways to increase production capacity without compromising quality. Especially on December 26 last year, the SUV flagship model Wenjie M9 also became a hit after its official launch, and the cumulative number of Dading has exceeded 40,000 as of January 20 this year.
For car companies, this experience of being overwhelmed by orders must be extremely happy. Although the question of whether the delivery time can be guaranteed is also a matter of life and death. However, the above content actually explains why Cialis can still suffer huge losses year after year after being recognized as "Huawei".
In the 2022 financial report, Cialis officially explained the content of investment and R&D - annual R&D investment of 310.6 billion yuan, and the cumulative investment in core R&D has exceeded 12 billion yuan.
The die-casting process is becoming the mainstream process of the new generation of automobiles, and the picture shows the 9,000-ton large-scale die-casting machine produced by LK Technology Group.
In addition, the company expanded the Liangjiang plant and upgraded it intelligently, such as adding 9,000 tons of ultra-large integrated die-casting equipment, and the cumulative investment reached 4 billion yuan in more than two years. As for the second factory in Fenghuang Town, which will be built in the first half of 2022, it is believed that the cumulative investment should be more than that.
The cooperation with Huawei has indeed opened up an opportunity for Cialis to turn around and rise, but what if the company wants to make up for its shortcomings in the field of new energy and intelligence in a short period of time, what can it do without spending money? What's more, there is also the problem of the construction of a production base.
Not only do you need to spend a lot of money on equipment and production sites, but you also need to develop new technologies. For example, this DE-I super electric drive intelligent technology platform must cost hundreds of millions of dollars.
Heavy assets, high investment and long cycle are the main characteristics of the automobile industry, is it ridiculous to think that it can be profitable in the short term? Tesla still lost money from 2003 to 2019, taking advantage of the opportunity of the opening of the Chinese market and the efficiency of the Shanghai Lingang Gigafactory, it achieved a full-year financial report in 2020.
Previously, the Soochow ** research report had predicted that the net profit attributable to the parent company of Cialis in 2023 and 2025 was expected to be -294.8 billion yuan, -8$9 billion and $11$4.7 billion. That is, Cialis is not expected to be profitable until 2025. For the ** in 2023, Soochow ** is far more optimistic than CITIC ** (-29.).4.8 billion yuan vs. -32200 million yuan), but the reality is expected to be a loss of at most 2.7 billion yuan and at least 2.1 billion yuan, which is not an exaggeration to say that it is major good news.
Finally, let's go back to the original topic, in response to the "news" that suddenly appeared on the Internet about the huge loss of 15 billion yuan in 5 years on Cialis and Huawei, what do I think?
Helpless, Zhang Xuefeng took another ......
I can only say that even if I feel uncomfortable as a practitioner, I must admit now that Zhang Xuefeng's comments on people in the news and media industry are obviously very close to the facts!