Skip to main content

NIO vs LI vs XPEV stock： Q1 financial report analysis

NIO

Q1 financial report analysis： NIO vs LI vs XPEV stock

 In the financial report, the most striking thing is the delivery volume.  Comprehensive data shows that the NIO Q1 delivery volume exceeded 20,000 for the first time and continued to lead.  Beginning in 2021, NIO set a record of 20,060 deliveries in the first quarter, an increase of 422.7% year-on-year.

 All aspects of XPEV can be described as "stable".  The delivery of LI decreased by 13.03% month-on-month, making it the only company among the top three automakers that had a negative growth rate from the previous month.  

 At the same time, the financial report showed that after achieving profit in the previous quarter, LI Q1 turned into a loss.  The net loss reached 360 million yuan, an increase of 366.9% year-on-year.

 It is not difficult to see that the gap between LI Auto and the other two companies has not narrowed.  At the same time, in the car-making boom, the market's vision has also changed.

 LI Auto's net loss of negative growth from the previous quarter increased by 366.9% year-on-year

 Specifically, the Q1 financial report showed that the delivery of LI cars was 12,579, a year-on-year increase of 334.4%, and a decrease of 13.03% from the previous month; the delivery of XPEV was 13,340, a year-on-year increase of 487.4%, and a month-on-month increase of 2.9%; the delivery of NIO was 2,060,  A year-on-year increase of 422.7% and a month-on-month increase of 15.6%.

 The year-on-year growth of the other two companies both exceeded 400%, and the LI car was less than 350%. The gap has been further widened.  In the month-on-month growth rate, only LI was negative, reaching-13.03%.

 This also directly affects the financial data of the Big Three.

 The financial report shows that as of March 31, 2021, LI Auto’s Q1 total revenue was US$545.7 million, an increase of 319.8% from the 851.7 million in Q1 in 2020, and a decrease of 13.8% from the 4.15 billion in Q4 in 2020; LI Auto’s Q1 net loss  USD 54.9 million, an increase of 366.9% year-on-year.

 XPEV vehicle Q1's total revenue was US$450.4 million, an increase of 616.1% from Q1 in 2020 and an increase of 3.5% from Q4 in 2020.  XPEV Q1 has a net loss of US$120.1 million.

 NIO Q1's total revenue was US$1.2183 billion, an increase of 481.8% from Q1 in 2020 and an increase of 20.2% from Q4 in 2020.

  NIO’s Q1 net loss was US$68.8 million, a decrease of 73.3% compared to 2020 Q1 and a decrease of 67.5% compared to 2020 Q4.

 LI's Q1 gross profit margin in 2021 will be 17.3%, while Q1 and Q4 gross margins in 2020 will be 8.0% and 17.5% respectively; 

 XPEV's Q1 gross profit margin in 2021 will be 11.2%, while Q1 in 2020 and Q4 in 2020  The gross profit margins are-4.8% and 7.4%, respectively; 

 NIO's Q1 gross profit margin in 2021 is 19.5%, while the gross profit margins in 2020 Q1 and 2020 Q4 are-12.2% and 17.2%, respectively.

 The continued high investment in research and development is considered to be the main reason why the Big Three failed to make real profits.

 The financial report shows that the R&D expenses of LI, XPEV, and NIO accounted for 14.41%, 18.13%, and 8.61% of the overall revenue, respectively.

 The founder, chairman, and CEO of LI Auto said that he will increase investment in research and development in the future.

 In contrast, Tesla has been profitable for 7 consecutive quarters.  The financial report shows that Tesla’s Q1 revenue was 10.389 billion U.S. dollars, an increase of 73.58% year-on-year. Its revenue scale was approximately 18.5 times that of LI Auto, 22.4 times that of XPEV, and 8.3 times that of NIO; Q1 net profit was $438 million.  The Big Three are in sharp contrast.

 As of March 31, 2021, LI auto cash and cash equivalents, restricted cash, time deposits, and short-term investment balances were US$4.63 billion; XPEV was US$5.525.4 million; NIO was US$7.3 billion.

 Curved road overtaking: launching new cars and expanding production capacity

 Just one day before the release of the financial report, LI Auto released the 2021 LI-ONE model. The new car has been upgraded in terms of vehicle configuration, cruising range, and autonomous driving, and will be delivered on June 1 this year.

 At the 2021 Shanghai Auto Show, XPEV Cars will unveil its third product, the world's first mass-produced smart car equipped with lidar, the XPEV P5.  It is understood that XPEV P5 is expected to be delivered in the fourth quarter of 2021.

 Recently, there have been media reports that NIO may launch an entry-level sub-brand, and its first model is called "Gemini" in English.  The positioning will be lower than that of existing SUVs and cars, with an annual output of 60,000; this will be the entry-level model that NIO will launch.

 NIO is currently in urgent need of developing the main model with the main price of about 200,000 yuan, exploring a wider market and complementing the NIO brand.

 Market value "cut in half"

 The complex and changeable market environment is finally reflected in the stock price.  LI's stock price is US$23.3 and the market value is US$21.078 billion; XPEV's stock price is US$32.13 and the market value is US$25.783 billion; NIO's stock price is US$38.62 and the market value is US$63.28 billion.

 Among them, based on the closing price, LI has fallen by 47.0% from its highest point of US$43.96, and its market value has evaporated by US$18.69 billion; XPEV has fallen from its highest point of US$72.17 by 55.48%, and its market value has evaporated by US$32.13 billion; NIO has fallen from its highest point of 62.84.  The U.S. dollar fell by 38.54%, and its market value evaporated by $39.685 billion.

 So far, the market value of the Big Three car manufacturers is almost "halved" from the high point, with a total market value of 90.505 billion U.S. dollars.

 The growth rate of the entire new energy industry is expected to slow down, the capital bubble ebbs, and the stock price gradually pulls back.  "Tesla is more regarded as a technology company than a car manufacturer. Moreover, the sales growth brought about by price cuts is not sustainable. 

 LI also only achieved quarterly profit and is still at a loss for the whole year. XPEV sales growth has slowed.  New energy car companies are still in the development stage. Compared with traditional car companies, the market size is smaller and there is a certain amount of water in the valuation."

 With the expiration of the local government's electric vehicle consumption encouragement policy, the further decline of the new subsidy quota, and the increase in chip prices caused by the "lack of core", all boost the cost of new car-building forces, and this will also affect  With its stock price.

 While the stock prices of the Big Three car manufacturers fluctuate, institutions are liquidating their positions.

 On February 13, Hillhouse Capital announced to the US Securities and Exchange Commission the position of US stocks at the end of the fourth quarter of 2020.  According to data, at the end of the third quarter of 2020, Hillhouse Capital held approximately 2.41 million shares of NIO, approximately 1.6 million shares of LI Auto, and approximately 900,000 shares of XPEV Auto.  At the end of the fourth quarter of the same year, Hillhouse Capital no longer holds the equity of the aforementioned new energy vehicle company.

Labels:

Comments

Post a Comment

Popular posts from this blog

Will China's economy recover as the epidemic is under control?

During the Chinese Spring Festival, novel coronavirus broke out in Wuhan, and the Chinese stock market was hit hard. Subsequently, the Chinese government quickly took strict measures to block Wuhan, a city with a population of tens of thousands of people, to prevent the further spread of the epidemic, and to take corresponding epidemic prevention measures in other cities.  When the worst of the epidemic had already occurred, the Chinese stock market quickly rebounded. As the number of infections continues to decline, China's Shanghai Composite Index is expected to rise further. Sars Period Looking back on similar events in the past, the SARS epidemic in 2003, the stock market also made a short-term decline, and then the SARS epidemic was brought under control, the stock market immediately went up for a long time. According to past historical data, the impact of the novel coronavirus epidemic on the stock market may be short-lived. China Fund Capital Flow Howeve...
Post a Comment
Read more

The stock market entering a bear market？

On March 6, 2020, the US stock market continued its decline today after a few days of rebound. Is this the beginning of a bear market in the stock market? Next, let's analyze one important indicator of entering the bear market, Treasury bonds yield. What is the yield of Treasury bonds? Treasury bonds are a tool issued by the state to raise funds. When the bonds are issued, they promise to repay the principal and interest on a specified date. The ratio of the return of Treasury bonds to the principal invested is the return of Treasury bonds.  The main factors affecting bond yield include coupon rate, maturity, face value, holding time, purchase price, and sale price. Rising bond yields and falling bond prices mean investors are selling bonds, turning to invest activities, or entering the stock market. In a healthy economic environment, the longer the Treasury bonds, the higher the bond yield. Because short-term bonds are more liquid, investors are willing to accept lower ...
Post a Comment
Read more

How to judge the diffusive horn pattern ?

As an investment trader, you must understand the use of chart technology analysis to determine the position of market transactions. Now let's talk about a common pattern in chart technical analysis, which is the diffuse speaker pattern. Diffusion horn patterns are different from trend patterns and horizontal patterns.  Diffusion horn patterns are more difficult to judge than trend patterns and horizontal patterns, and often cause losses to investment traders. So, how do investment traders judge the spreading horn pattern and make favorable investment transactions? S&P500 Index The price trend of the diffusive horn pattern.  When the price rises over some time, then the price falls, and falls below the recent low, then rises, and rises through the last high. It keeps expanding in two directions. If we connect the high point and the low point with straight lines, respectively, we can show a horn shape, so it is called a diffuse horn shape.  Because of this, some i...
Post a Comment
Read more

The Federal Reserve implements interest rate hikes or cuts？

Generally speaking, the Federal Reserve implements interest rate hikes or cuts. Interest rate rises are austerity monetary policies, and interest rate cuts are a loose monetary policy. When the rate hike cycle begins, it indicates that the Federal Reserve is optimistic about the future economic outlook, economic data shows a positive outlook, and market sentiment is optimistic. To avoid excessive economic growth, the Federal Reserve has implemented austerity monetary policy and implemented interest rate hikes. When the interest rate cut cycle begins, it means that the Federal Reserve is bad on the future economic outlook, the economic data shows a bad trend, and the market is pessimistic. To stimulate economic growth, the Federal Reserve has implemented a loose monetary policy and implemented interest rate reductions. Correlation between the S & P 500 and Federal Reserve interest rates Historical data from the S & P 500 shows that when the rate hike cycle begins, the sto...
Post a Comment
Read more

Coinbase stock forecast 2025: it's first quarterly report

  After the trading hours on May 13 (this Thursday), Coinbase Global (COIN) will release its first quarterly report.  Take this opportunity to give us a glimpse of the prospects of the first share of cryptocurrency exchanges.  Actually, on April 6, before Coinbase went public, it had already released a forecast for the first quarter of this year. The core data are as follows:  Revenue in the first quarter was approximately US$1.8 billion, a year-on-year increase of 842%; before the net profit was between US$730 million and US$800 million, the median was US$765 million, a year-on-year increase of nearly 23 times!  Assets on the platform are 223 billion US dollars, accounting for 11.3% of the market share of encrypted assets; 56 million verified users, and 6.1 million monthly transaction users (MTU).  It is worth noting that Coinbase's net profit margin reached a terrifying 42.5% in the first quarter, and the business model of “casino” is really profitable! ...
Post a Comment
Read more