Weilai Automobile net loss in the first quarter was 1.691 billion yuan, but not bad news
Recently, Weilai Automobile released its first quarter earnings report for 2020. Its total revenue for the first quarter was RMB 1.372 billion, which is expected to be RMB 1.67 billion (down 51.8% month-on-month and 15.9% year-on-year). The net loss was RMB 1.918 billion (down 40.9% from the previous month and narrowed by 35.5% year-on-year, which is considered “good news” from this point). And Weilai Automobile closed on Thursday, the stock price fell 8.15%, to close at $ 3.83.
In the first quarter, Weilai Automobile delivered a total of 3838 vehicles, of which Weilai ES6 delivered 3643 vehicles and Weilai ES8 delivered 195 vehicles.
The Weilai Automobile brand was established in November 2014 and was successfully listed on the New York Stock Exchange on September 12, 2018. The current main products are Weilai ES6, Weilai ES8 and other products. In the list of new forces in the last year, Weilai Automobile surpassed Weimar Automobile with 20565 sales, ranking first, but according to the annual report, even if it ranks first in the sales of the new carmaking forces, Weilai Auto has a net loss in 2019 It still reached 11.413 billion yuan.
In February, China’s total Wei to tribal households in Hefei, the local government of Wei to 10 billion strategic investment. In March, Weilai Automobile was listed as the person subject to execution, with the subject matter amounting to 1.1 million yuan.
Weilai Automobile once ranked tenth in the global luxury car brand innovation list and China’s first. Its ES6 and ES8 are relatively popular. ES6 is a medium-sized pure electric SUV. It accelerates to 100 kilometers per hour in 4.7 seconds at the fastest, and NEDC has a maximum range of 510 kilometers. The ES8 is a seven-seat pure electric SUV. This model has a world record for the highest altitude for electric vehicles. The measured altitude is 5715.28 meters.
Weilai Automobile has been losing money for months, but the loss has been reduced. What will happen to Weilai’s future?
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