February** Dynamic Incentive Program
Many people don't understand why I broke up the research on Cialis, from the bicycle category to the gross profit and cost, from the industry competition pattern to the market valuation, it was so troublesome, and the small investment of hundreds of thousands, millions of dollars played hundreds of millions of bigwigs! Isn't it okay to pursue "vague correctness"? It's not impossible! The pursuit of "vague correctness" sometimes does not delay making money, but saves time and effort. So, what am I trying so hard for?
The reason is simple. The first is to learn and always innovate. My investment ability has not yet reached the peak of the level, research should not be drawn as a prison, from the industry to the enterprise to learn a little bit, after all, more skills are not pressing. The second is to practice more and be more proficient. I believe everyone knows the story of the oil seller, "I don't have him, but I know it." "I want to turn research into my muscle memory, so that if there is a clue to a change in the company's operation, I can also see the subtleties and prevent it from happening.
, back to the topic of this article. When will Cialis be able to turn a profit? You have to calculate the break-even point of Cialis first!
OneHow the break-even point is calculated
The formula for calculating net profit margin can be simplified as: net profit margin = gross profit margin - various rates.
To put it simply, gross profit margin increases with the increase in operating income, and various rates decrease with the increase in operating income. As shown in the figure above, the intersection (critical point) of the curve of gross margin and the curve of various rates is the break-even point (in this case, net profit margin = 0).
Of course, the above is a simple algorithm.
Generally speaking, we pay more attention to the net profit margin of the non-attributable parent company, and at this time, we need to adjust the calculation formula, that is: the net profit margin of the non-attributable parent = gross profit margin - various rates + adjustment items.
Second, the calculation steps
According to the research results of the "Sailis 2024 Q1 Net Profit Estimate", referring to the financial data of 2022 and the financial data of 2023, there will be two estimation results.
(1) Refer to the financial data of 2022
1) Gross profit margin curve function: quarterly gross profit margin = 223%-9.Q36 operating income.
2) Various rate curve functions: quarterly other expense rate = 171%＋5.Q46 operating income.
3) Adjustment items: 26%。
Substituting the above three items into "net profit margin deducted from non-attributable to the parent = gross profit margin - various rates + adjustment items", and "net profit margin deducted from non-attributable to the parent = 0", you can find the quarterly operating income at breakeven of 19 billion yuan.
(2) Refer to the financial data of 2023
1) Gross profit margin curve function: quarterly gross profit margin = 223%-9.Q36 operating income.
2) Various rate curve functions: quarterly other expense rate = 234%＋5.Q46 operating income.
3) Adjustment items: 58%。
Substituting the above three items into "deducting the non-attributable net profit margin = gross profit margin - various rates + adjustment items", and making "deducting the non-attributable net profit margin = 0", you can find the quarterly operating income at breakeven of 31.5 billion yuan.
Obviously, the reason why the difference between the quarterly operating income required by the break-even requirement is as much as 10 billion yuan by referring to the 2023 financial data and the 2022 financial data is because Cialis adjusted its operating policy in 2023 and increased various expense ratios, including sales expenses, which means that if you want to achieve breakeven, you need to sell more cars and achieve greater revenue.
Facts have proved that this business strategy of "throwing money and betting on tomorrow" has been a great success, and it only took a few months for Wenjie to go from the original tepid to the current sales list.
3. Summary
To sum up, the break-even point of Cialis is probably between 20 billion yuan and 30 billion yuan in quarterly operating income. Unless Cialis continues to increase its "volume" to its peers, its quarterly operating income only needs to exceed 31.5 billion yuan, and it will definitely be able to break even.
It is estimated that many people may have forgotten that I have the ** value of Cialis's operating income in the first quarter of 2024 in "Cialis 2024 Q1 Sales and Revenue**". Here is a review for you, it is expected that the operating income of Cialis in the first quarter of 2024 will be between 36 billion yuan and 40 billion yuan, so it is a sure thing that Cialis will turn losses into profits in the first quarter of 2024.