On June 9, Weilai released the 2022 Q1 financial report, and we also brought you the interpretation of the Weilai financial report for the first time.
Source | New trip
I. Financial situation
First of all, let's take a look at Weilai's financial situation. On the financial side, revenue in the first quarter of 2022 was 9.91 billion yuan, an increase of 24.2% over the same period last year and the eighth consecutive quarter of positive growth. The gross profit margin of vehicle sales was 18.1%, with a net loss of 1.78 billion yuan, which was 16.8% lower than the previous month.
Q1 has a cash reserve of 53.3 billion yuan; the second-quarter delivery guidelines are 23000-25000 units, an increase of about 5.0% to 14.2% over the second quarter of 2021; and total revenue is 9.34 billion yuan to 10.088 billion yuan, an increase of about 10.6% to 19.4% over the second quarter of 2021.
In terms of gross profit margin, as the industry faces the impact of batteries and chips, the vehicle profit margin in the first quarter was 18.1%. Raw materials such as batteries will still pose a challenge to the gross profit margin in the second quarter, but with the increase in new product delivery and bicycle revenue and the climbing of delivery volume, gross profit margin is expected to rebound in the third quarter.
Vehicle production and delivery have been affected by the new outbreak, but Weilai said the supply chain and production began to return to normal in June, including delivery and production in the Shanghai area, resulting in total delivery of between 23000 and 25000 vehicles in the second quarter of 2022.
Second, new product promotion / new news of Volkswagen brand
In terms of smart products, Weilai will release high-precision maps with its partner Tencent in the third quarter to assist the intelligent driving system with self-developed algorithms, the official said at the earnings meeting. At the same time, NOP PLUS will be released in the third quarter, and NT2.0 will achieve the ability to iterate quickly, laying the foundation for subsequent NAD services.
In terms of specific models, the new medium and large five-seater SUV ES7 of the NT2.0 platform will be launched this month. And delivery began in late August. In addition, the existing 866 models will switch to the NT2.0 platform next year.
Half a year has passed since the official launch of the second car, the ET5, at the end of last year. At present, Xilai is promoting the mass production of ET5 in preparation for delivery in September, and the order volume of ET5 is also gradually increasing.
In addition, the Jianghuai Weilai F1 plant has now fully returned to its pre-epidemic capacity level, and will gradually increase its actual output in line with the mass production of new products and slope climbing.
The F2 factory in NeoPark has completed the production line and entered the verification stage of car construction, which will be officially put into production in the third quarter of this year as planned.
With regard to the Ulai sub-brand, it is learned from the financial report that the new brand will be delivered in the second half of 2024 and will be equipped with NT3.0 technology. Ulai hopes that the main products will be in the range of 20-300000 RMB, with a power-changeable structure and a battery package different from NIO, which will carry its own batteries.
At present, there is a battery research and development team of more than 400 people, which is planned toIn the second half of 2024, we will realize the R & D and loading of the battery pack of 800V high-voltage platform, comprehensively establish the system R & D and industrialization capability, and enhance the product competitiveness and profitability of Weilai.
Finally, back to the layout of the service system. In terms of sales and service network, there are 381 Weilai centers and space, covering 152 cities around the world, and 247 service centers and delivery centers covering 149 cities around the world.
In terms of recharging network, we have built more than 960 exchange power stations, covering 197 cities around the world. At the same time, we have deployed a total of 829 overcharging stations and more than 4140 destination charging piles.
In the global market, in addition to Norway, Weilai is working in Germany, the Netherlands, Sweden and Denmark. There will be many challenges in the first half of 2022, but 2022 will be a year for Ulai to invest in global markets, new products and new brands, and capacity will accelerate in the second half of the year.
Editor's summary:
After the impact of the epidemic in the first half of the year, the production and delivery of Weilai has been disturbed to a certain extent, but at present, the national epidemic tends to calm down, and the production and delivery of Weilai is also gradually back to the right track.
With the release, delivery and ET5 delivery of ES7, the product level of Weilai will be improved, which will change the fatigue of Weilai SUV model at this stage and inject new vitality into it.