Wei Xiaoli is getting better and better.
After ideal, Xiaopeng and Weilai released the third-quarter results one after another, some people in the industry sighed.
To some extent, the above conclusion is true, and more feelings are directed at Weilai and Xiaopeng.
At the beginning of starting a business, judging Wei Xiaoli’s “fate” has almost become a common topic of conversation, and even today, there are still many voices talking about the ultimate “fate” of these three enterprises.
But the fact is, nowadays, apart from the ideal of realizing profits many times in a row, Xiaopeng and Weilai’s business conditions are also gradually improving, and the reviews in the industry have partly turned to the trend of “living to death”.
Only after the release of the third-quarter results, Xiaopeng and Weilai’s stock market sentiment showed two separate extremes. U. S. stocks fell more than 5% before trading, “undervalued companies”, Xiaopeng ushered in a more optimistic “harvest season” in the third quarter.
According to Xiaopeng’s financial results for the third quarter of 2024, the company’s total revenue during the reporting period was 10.
1 billion yuan, an increase of 18.
4% over the same period last year, and a net loss of 1.
81 billion yuan, down 53.
5% from the same period last year.
In particular, the gross profit margin reached an all-time high of 15.
3%, an increase of 18 percentage points over the same period last year.
After the announcement of the results, Xiaopeng motor Hong Kong shares rose 3.
5% to close at 51.
95 Hong Kong dollars per share, while US stocks rose more than 7% before trading.
This was followed by the release of the third-quarter results of 2024.
According to the data, the total revenue during the reporting period was 18.
6735 billion yuan, down 2.
1% from the same period last year, up 7.
0% from the previous year.
the net loss was 5.
0597 billion yuan, up 11.
0% from the same period last year and 0.
3% from the previous year.
without the general accounting standards of the United States, the adjusted net loss was 4.
4126 billion yuan, an increase of 11.
6% from the same period last year and a decrease of 2.
7% from the previous year.
Even in the same period, Weilai has achieved many “phased results”.
For example, the gross profit margin of the whole vehicle continues to rise to 13.1%. the free cash flow is positive in the third quarter, and the cash reserve rises to 42.
2 billion yuan.
and 61855 units are delivered in the third quarter, a record high.
And the fourth-quarter delivery guidelines of Weilai were 72000 to 75000 units, an increase of 43.
9% to 49.
9% over the same period last year, and revenue guidelines for the fourth quarter were 19.
68 billion yuan to 20.
38 billion yuan, an increase of 15.
0% to 19.
2% over the same period last year.
, Tu Yuan: Wei Lai, but still did not stop the “unhappiness” of the capital market.
It was reported that Ulai American stocks were down more than 5% before trading, and the “culprit” on the news was that “the company’s total revenue in the third quarter was 2.
1% lower than the same period last year.
” You know, the market’s revenue for the third quarter of Weilai was expected to be 19.
17 billion yuan.
So is there really a big difference between 18.
6735 billion yuan and 19.
17 billion yuan in revenue for a listed company? Is a 2.
1% year-on-year drop in revenue enough to disappoint capital markets? Galaxy noted that a few days before Weilai released its results, investment and financing institutions were very concerned about Weilai’s third-quarter results.
At that time, an analyst said: “Weilai stock will be the focus of this week (November 18-November 24).
” It is reported that Wall Street analysts believe that Xilai is an undervalued company because its price-to-sales ratio has been falling.
The index now stands at 0.
9662, the lowest level since Sept.
5 and has fallen to a year-to-date high of 2.05. By contrast, the ideal price-earnings ratio is 1.
11, while Xiaopeng’s price-to-earnings ratio is 2.33. Tesla, which has a market capitalization of $1,000bn again, trades at 10.
5 times earnings.
In other words, these figures mean that Weilai’s share price is cheap, which may make it an attractive investment.
The analysis also said that the current market consensus is that the share price of Fulai will reach $48.
3, up from the current $4.6. The fact is that Galaxy noted that as of 10:46 est on November 20, Weilai’s share price had hovered around $4.
70, but showed an overall upward trend of about 3 per cent.
In other words, in the current new energy vehicle market, when Weilai has grown up to today, it has brought surprises to the capital market, but not too much, or a little less than the expectation of capital.
So, what on earth is the “undervalued company” that is “less than satisfactory” in Weilai? In the 20,000 Club, the “veterans” who don’t work hard enough? A determined bet on pure electricity may be one of them.
This can be seen from the vehicle sales data of Weilai.
According to the new energy vehicle sales data released by Sinochem Digital Research in October 2024, among the top 14 new energy vehicle companies in its statistics, Xilai ranked ninth with sales data of 20976, followed by “newcomer” Xiaomi.
Tu Yuan: Sinochem Digital Research, what does it mean that the monthly sales of more than 20,000 units in Xilai? According to the sales statistics of 14 new energy brands in the first half of 2024, it was found that unlike in 2022-2023, the monthly sales of most new energy vehicle brands remained at the level of 10, 000 vehicles.
The monthly sales of new energy vehicle brands have jumped significantly, and monthly sales of 20, 000 new energy vehicles have become a new threshold for monthly sales of new energy vehicles.
At that time, among the 14 new energy vehicle brands within the scope of the global auto statistics, three car companies crossed the benchmark of 20,000 vehicles, namely, Ulay, Polar Krypton and Zero.
Specifically, in June this year, Xilai delivered 21209 new cars, up 98% from the same period last year.
zero run delivered 20116 new cars, up 52% from the same period last year.
and polar krypton delivered 20106 new cars, up 89% from the same period last year.
In this contrast, monthly sales are even higher than the latter two by a subtle gap.
It should be pointed out that the joint appearance of the above three car companies on the list of “20,000 clubs” is very interesting, and the reason is worth considering.
You know, in terms of the power type of electric vehicles, only Weilai has pure electric products, while zero run and polar krypton both have extended range models.
In other words, Weilai entered the “monthly sales Club of 20,000” by virtue of all the pure electricity products.
Tu Yuan: Weilai, however, if you look at the October sales data of new energy vehicles based on the statistics of Auto Digital Research, zero run and polar krypton have jumped to the fifth and seventh place respectively, and even zero run October sales have exceeded 30, 000 vehicles, reaching 38177, pointing to the next competition point of monthly sales of 40, 000.
By contrast, as a “veteran” of the new energy vehicle market, Weilai is still hovering in the sales data of just over 20,000.
Is it true that Weilai doesn’t work hard enough? This is not the case.
Among the No.
1-8 (including No.
8) new energy vehicle companies in October 2024, which ranked in the top spot of China Automotive Digital Research and Statistics, all of them are selling or planning to increase.
Cheng model.
For example, Sinochem Digital Research Analysis said that Zero Runner’s monthly delivery record is mainly due to its excellent add-on hybrid technology.
According to the official website, zero-running cars are currently on sale, including zero-running C01, C10, C11 and C16.
In addition, the Zero B10 is scheduled to be unveiled at the 2024 Guangzhou Auto Show.
The new car is based on the LEAP 3.
5 architecture B platform and is positioned as a compact SUV.
It will target a 10-150000 yuan market and is expected to go on sale worldwide next year.
Although sales of GAC Ean new energy vehicles fell 3.
5% in October from a year earlier, they rose 11.
9% from a month earlier to 40,000 units.
In the first 10 months of this year, the cumulative sales of Ian reached 324000 vehicles, although it was down 17.
5% from the same period last year, but it still showed its strong market competitiveness in the current background of Ian.
In addition, GAC noted that in order to boost sales, at the 2024 Guangzhou International Auto Show, which officially opened on November 15, GAC Ean announced that it would launch an extended and mixed multi-energy route in 2025.
Xiao Yong, GAC’s deputy general manager, said that GAC’s EAN sales would return to a positive growth track in November.
, Tu Yuan: Weilai, on the contrary, after the previous “start-up brothers” successively entered the bureau to increase the technology route, there was frequent news in the industry that Weilai was about to layout additional cars, but the Weilai side denied it more than once.
The latest response is that during the 2024 Guangzhou International Auto Show, Wei Jian, senior president of Xilai, said in an interview with the media: “Weilai will firmly follow the line of pure electric technology.
” Firmly believe that pure electricity will not only believe in pure electricity, but also can not see the “prosperity” of the extended market.
According to data from the National passenger car Market Information Association, in September, 117000 additional electric vehicles were sold, accounting for 10.
4% of new energy vehicles.
In terms of sales growth, the sales of extended range models increased by 89.
1% in September compared with the same period last year, far faster than pure electricity.
According to data also from the national passenger car market information association, in October, wholesale sales of add-on electric vehicles in the national new energy passenger car market were 121000, an increase of 53.
9% over the same period last year and 4.
9% month-on-month growth, indicating the growth momentum of add-on electric vehicles in the market .
At present, a number of car companies have launched add-on models, such as ideal car, BYD, Mengjie, Avita, Lanto, Geely Galaxy, Deep Blue, Qiyuan, Polar Fox and so on.
These models generally perform well in the market .
In the face of such a general trend, Cyrus Vice President Kangbo even predicted recently that the extended range is no longer a “transitional technology”, but a “applicable technology” actively selected by the market, which will coexist with pure electricity and plug-in for a long time.
But Weilai is not convinced that it is obsessed with pure electricity, not only because it believes in the pure electric technology route itself, but also because of the company’s bigger game of chess in pure electric models and a longer-term dream behind pure electricity.
Of course, this “dream” is a replenishment.
, Tu Yuan: Wei Lai, as a new car-building force that started from scratch, Wei Xiaoli has found its own car brand “stick” in the process of growing up.
Xiaopeng believes that intelligence can change the world, and it is ideal to realize the promise of faster profitability with extended range models.
Today, both Xiaopeng and ideal benefit from the initial goals to some extent.
While Weilai is still in doubt, walking on the eve of the outbreak of the energy market.
It’s just that this “night” is really a long time.
In 2024, Weilai stepped up its expansion of its energy replenishment network.
According to Geoshi Automobile observation, at present, Weilai has realized charging interconnection with Chery, Dongfeng Warriors, Hongmeng Zhixing, Red Flag, Deep Blue, Eian, Zhiji, Polar Krypton, Lutes, Cadillac, Buick, Xiaopeng and other automobile brands.
In terms of energy replenishment network, as of October 31, Xilai has completed the layout of high-speed power exchange network in 12 major urban agglomerations with seven vertical lines, nine horizontal lines.
At the same time, it has laid out a total of 2621 replacement power stations, 23969 charging piles, more than 5661 power exchange services and more than 1.
11 million third-party charging piles.
In addition, Qin Lihong, co-founder and president of Xilai, unveiled 318 Sichuan-Tibet power exchange lines at this year’s Chengdu Auto Show.
According to reports, a total of 14 exchange power stations are planned for the whole 2800 kilometers of the Sichuan-Tibet line.
On the basis of the five exchange power stations already built along the way, nine new exchange power stations are planned to be built, and the deployment of the Sichuan section is planned to be completed within this year, and the deployment of the Xizang section will be completed before next year’s Chengdu auto show.
In addition, Weilai also announced the latest layout of power supply in Sichuan, and plans to build exchange stations in 183 counties in Sichuan by June next year.
Weilai said that it plans to achieve “power conversion county access for all provincial administrative districts” and “power exchange county access for 14 provincial administrative districts” by June 30, 2025, and “power conversion county access for 27 provincial administrative districts” by December 31, 2025.
, Tu Yuan: Weilai, are there any business opportunities in the energy supplement market? The answer to this question is yes.
It is just that it is not easy to judge who is the ultimate beneficiary of this market.
But what is certain is that both the market and capital can really see Weilai walking stubbornly and firmly on the replenishment track, and the real money of this enterprise has indeed flowed to every charging station project.
It can only be said that in the future, both capital markets and spectators hope to see Wei coming at the top of the pyramid of the energy supplement industry.
As Li Bin said before, compared with the early days of starting a business, this is by no means the most difficult time.
In the nearly ten years since the establishment of Weilai, Li Bin and Weilai have rescued themselves from difficulties again and again.
At present, this small quagmire will never be trapped.
The future of Xilai is becoming clear.
Wei Lai’s “good show” is still to come.
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