On November 9th, Red Star Capital Bureau reported that Ideal Automobile (02015. HK/LI. US) released its third quarter financial report for 2023, with quarterly delivery volume and financial data hitting historic highs, with the US stock market rising by over 7% before the session.
The ideal delivery volume in the third quarter was 105000 vehicles, an increase of 296.3% year-on-year and 21.5% month on month.
Sales growth has driven a significant increase in performance, with a revenue of 34.68 billion yuan in the third quarter, a year-on-year increase of 271.2% and a month on month increase of 20.2%; The net profit was 2.81 billion yuan, an increase of 21.8% compared to the same period last year, with a net loss of 1.65 billion yuan, achieving four consecutive quarters of profit. Free cash flow was 13.22 billion yuan, an increase of 37.5% month on month; As of the end of the third quarter, the ideal cash reserve reached 88.52 billion yuan.
According to the financial report, as of September 30th, Ideal has 361 retail centers covering 131 cities, and operates 318 after-sales repair centers and Ideal Automotive Authorized Body and Paint Centers in 213 cities.
Li Xiang, Chairman of Ideal Automobile, stated: The first 5C pure electric super flagship model, the Ideal MEGA, will be officially released in December this year and will be delivered in February next year. We believe that the ideal MEGA, equipped with an 800V high-voltage platform and achieving 5C charging rate, will open a new chapter for ideal cars in the pure electric market, and together with extended range technology, promote the process of large-scale replacement of traditional fuel vehicles. At the same time, in conjunction with the promotion of pure electric strategy, we are accelerating the construction of a super charging network to use Provide users with a more convenient and reliable energy replenishment experience
As of now, 130 ideal overcharging stations have been built and operated along national highways, and 300 will be built by the end of this year, covering the four major economic belts of Beijing Tianjin Hebei, Yangtze River Delta, Greater Bay Area, and Sichuan Chongqing.
Looking ahead to the fourth quarter, the monthly delivery of Ideal Cars exceeds 40000 units, with an expected quarterly delivery volume of 125000 to 128000 units, a year-on-year increase of 169.9% to 176.3%; The quarterly revenue is expected to reach 38.46 billion yuan to 39.38 billion yuan, a year-on-year increase of 117.9% to 123.1%.