On the 20th, Ideal Automobile announced its first quarter financial report for 2024, with a nearly 90% decrease in net profit compared to the previous month and a sharp drop in its stock price. The financial report shows that during the reporting period, the total revenue of Ideal Automobile was RMB 25.6 billion, an increase of 36.4% from RMB 18.8 billion in the first quarter of 2023 and a decrease of 38.6% from RMB 41.7 billion in the fourth quarter of 2023. As for the month on month decline of vehicle sales revenue, Ideal Auto announced that it was mainly affected by seasonal factors related to the Chinese Spring Festival holiday and the reduction of vehicle delivery due to the sales orders in March were less than expected.