On February 27th, new forces in the Hong Kong stock market for car manufacturing rose strongly. As of press release, Ideal Automobile rose 17%, Xiaopeng Automobile rose over 5%, and NIO rose nearly 3%.
On February 26th, the financial report released by Ideal Automobile showed that its revenue in 2023 was 123.85 billion yuan, a year-on-year increase of 173.5%; The net profit reached 11.81 billion yuan, turning losses into profits for the first time in the year. The gross profit margin for the year was 22.2%, and it became the first new force car company in China to achieve annual profits. Among them, the net profit of Ideal Automobile in the fourth quarter was 5.75 billion yuan, with a gross profit margin of 23.5%. In 2023, research and development expenses reached 10.59 billion yuan, a year-on-year increase of 56.1%.
Ideal Automobile is expected to have a revenue of 31.25 billion to 32.19 billion yuan in the first quarter of this year, a year-on-year increase of 66.3% to 71.3%; The delivery volume ranged from 100000 to 103000 vehicles, a year-on-year increase of 90.2% to 95.9%. Ideal Automotive executives stated in a conference call that they expect the delivery volume to exceed 50000 vehicles in March and 70000 vehicles in June.
In 2023, the sales of Ideal Automobile reached 376000 units, ranking first among the new forces in car manufacturing. With the expansion of the product lineup, Ideal Automobile will challenge its sales target of 800000 units this year. Among them, the sales target for the L7, L8, and L9 models currently on sale is 400000 units this year. The pure electric MPV MEGA, which will be launched in March this year, will challenge the monthly sales target of 8000 units, and the L6, which will be launched in April, will challenge the monthly sales target of 30000 units.