Tonight, Weilai released its third-quarter unaudited corporate financial report. As before, the operating conditions are still negative, but the good news is that the loss margin has narrowed, operating income has increased sharply month-on-month, and Weilai Automobile's delivery volume has increased significantly. Overall, Weilai's operating conditions and cash flow are continuously improving, which is one of the reasons why Weilai is anxious to announce the third quarter financial report.
However, the most embarrassing thing is that the current gross profit rate of bicycles of Weilai Automobile is still negative, and the gross profit rate of bicycles in the third quarter was negative 6.8%. The situation of selling one and losing one will not change in a short time.
Moreover, the founder of Weilai also said earlier that Weilai's own manufacturing and R & D costs are high, and the current vehicle gross profit margin is negative, and with the adverse impact of subsidy decline, Weilai's price reduction space is almost Is zero.
In addition, Weilai also announced that its cumulative vehicle deliveries in the third quarter were 4,799, including 4,196 ES6 and 603 ES8, while only 3,553 vehicles were delivered in the second quarter of 2019. Increased good situation.
Correspondingly, its total revenue has also increased significantly. Vehicle sales in the third quarter reached 1.837 billion yuan, an increase of 21.8% from the second quarter of 2019 and a year-on-year increase of 25.0%.
However, at the profit level where capital is most important, Weilai's results are not so satisfactory. In the third quarter, Weilai Automobile's net loss was 2.5217 billion yuan, a decrease of 23.3% from the second quarter of this year.
Although the average price of Weilai Automobile has surpassed 300,000 yuan, and it is also the leader in the delivery of domestic new car manufacturing forces, it is still unable to shake off the fate of losses. It can also be seen how much the car manufacturers are burning money.