On March 18th, Xiaoniu Electric released its financial reports for the fourth quarter and full year of 2023 as of December 31, 2023. The report shows that in the fourth quarter, the sales volume of Xiaoniu electric vehicles was 137500 units, with a revenue of 479 million yuan; The annual operating revenue for 2023 was 2.652 billion yuan.
Xiaoniu Electric CEO Li Yan stated that the new products launched by Xiaoniu Electric in 2023 are developing rapidly in the domestic market. Among them, the flagship product MQiL has become the best-selling product of the year with enhanced performance and classic intelligent design.
Our products not only make Xiaoniu Electric a leader in urban transportation, but also a pioneer in shaping an ideal lifestyle. In 2023, XQi3 successfully expanded the company's overseas product matrix. We believe that the company has overcome the most severe challenges and will win wider market recognition in 2024. In the micro transportation market, we continuously strengthen Xiaoniu Electric's brand awareness with diversified products. We are ready to seize the huge market opportunity of the 'oil to electricity' transformation. " Li Yan said.
For 2024, Xiaoniu Electric has provided positive performance guidance, with an expected revenue of 438 million to 480 million yuan in the first quarter of 2024, corresponding to a year-on-year increase of 5% to 15%. Xiaoniu Electric is expected to have a total vehicle sales volume of 1 million to 1.2 million in 2024, with a corresponding year-on-year growth of approximately 41% to 69%.