NIO vs LI vs XPEV stock： Q1 financial report analysis

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.

Comments

Cloudflare's 4Q 2021 earnings report

Just took a look at Cloudflare's (NET) 4Q 2021 earnings report. Cloudflare is in an area that covers several hot spots, including content delivery networks, i.e. CDNs, cloud computing, and cybersecurity. For the Cloudflare quarterly report, here is a summary: 1) Revenue of $194 million (then expected 4Q revenue in the range of $184 to $185 million), up 52% year-over-year ($172 million in 2021, up 51% year-over-year). 2) The number of customers continues to grow rapidly, with the total number of customers has reached 1416 (1260 in the previous quarter). 3) Non-GAAP gross margin was 79.2% vs. 78.1% in the same quarter last year (vs. 79.2% in 3Q vs. 77.3% in the same quarter last year.) Non-GAAP net income has started to turn around, meaning it has started to be profitable. 4) Revenue is expected to be in the range of $205 to $206 million in 4Q. That works out to about 6% YoY growth. Cloudflare had good results this time, beating its previous guidance. Revenues are still growing at a...

INTC stock forecast 2025: Intel's acquisition of SiFive

SiFive, a chip design start-up company based on the RISC-V instruction set architecture, has received an acquisition intention from investor Intel. A person familiar with the matter, who asked not to be named, said that Intel has offered to buy SiFive for more than $2 billion. RISC-V with x86 and Arm As we all know, Intel dominates the industry leader in x86 architecture chip technology, while SiFive focuses on open-source RISC-V technology and employs several founding members of the RISC-V architecture. For a long time, the field of CPU instruction set architecture has been dominated by x86 and Arm. Since RISC-V was born at the University of California, Berkeley in 2010, it has gradually formed a certain competitive landscape with Arm after more than ten years of development. With the gradual refinement of the application field, the model of one chip making the world has become a thing of the past. Facing the hot AI and Internet of Things market, RISC-V i...

The five stages of company growth!

company Many people who study stocks will analyze the fundamentals of the stock, such as viewing its performance report, PE, PB, PEG, debt ratio, dividend ratio, cash flow, ROE, EPS growth, etc. I don't know if you tried it. After performing many basic analyses, you will feel that the prospects for a particular stock are very good. You have even read the analysis reports of many large banks, or listened to the analysis of many market participants and obtained a consistent high evaluation. Then, you will think that this stock will grow in the future, so you buy it and think that you can use this stock to create a better future from now on, and the final development of the story is the opposite of the fact that the development direction will eventually Put you in trouble or lose money. I will not deny the importance of basic analysis, because, in addition to focusing on technical analysis, I am also very concerned about the company's basic factors. I am an investor fo...

Look for growth stocks, and let profits run!

let profits run Due to the recent rapid decline in the global stock market, many investors have suffered severe losses in the books they hold. How much money has been lost? What should I do now? Should the stock be sold immediately? Or wait for it to rebound before selling? I usually ask him, why would you buy stocks? Why do you still hold stocks? Sometimes they will tell me very frankly, because after listening to XX masters, XX experts, XX financial performances, or a friend, a relative, or a neighbor telling them, the stock price is very cheap now, so fast Click to buy, or after the stock has fallen for some time, these people will say that the current stock price is cheaper, and it should be evened down, and it will go up no matter what. If you are holding a lot of stocks in the stock market disaster because of this, you have already suffered heavy losses at this moment. I hope this is the last time you are recruited in the stock market. First, let's look at a practica...

Shopify stock forecast 2025：Is it worth buying?

In the last year, the stocks rose relatively well. Another sector is e-commerce. Whether it is Amazon, Alibaba, JD.com, Pinduoduo, SEA or vertical e-commerce platforms Etsy and Chewy, all of them have experienced huge gains, while another category has benefited from the e-commerce sector. The company is a website building tool company such as Shopify BigCommerce Holdings. Today I will talk about shopify, the leader of website building tools. First, let's briefly talk about shopify's business model. To put it simply, shopify is a fool-like website building platform. In the past, when a company wanted to build a corporate website, it generally needed to find a dedicated person to design and maintain the website. If you want to add shopping functions to the website, the cost of building the website will also increase. This is true for many small businesses and individual businesses. A very difficult thing. Shopify uses the SAAS model to provide websit...

Capital Flows Tracking Weekly

Release: January 27, 2021 The weekly Capital Flows estimate the industry's total, based on the report covering more than 98% of mutual fund and ETF assets. Collect actual mutual fund net new cash flows and ETF net issuance together monthly; therefore, there is a discrepancy between these weekly estimates and monthly flows. The data from the previous few weeks reflect revisions due to data adjustments, reclassifications, and changes in the number of fund reports. Mutual fund data represents the estimated value of net new cash flows, that is, new sales minus redemptions plus net exchanges, while exchange-traded fund (ETF) data represents net issuance, that is, net issuance minus total Redemption amount. This series does not include data on mutual funds that primarily invest in other mutual funds and ETFs that primarily invest in other ETFs.

Safe-haven assets（GLD） are flowing into the market?

On March 9, 2020, the US Dow Jones Index plunged more than 2,000 points, the U.S. stock market crashed, the investment market was full of fear, and market funds flowed into those safe-haven assets? With the spread of the epidemic, the market's risk aversion has continued to increase, and the stock market has continued to fall. As an investor, to reduce investment risks, you must buy safe-haven assets, reduce the purchase or sale of assets in the stock market, and avoid a sharp decline in the stock market, which will cause serious losses. When market risks continue to increase, investors will continue to buy safe-haven assets. Investors should pay attention to the following several safe-haven assets and use them as safe-havens. Dow Jones Index The first safe-haven asset is gold. Gold（GLD）, as a traditional anti-inflation commodity, has always been the preferred safe-haven asset for investors. GLD The second safe-haven asset is the Japanese yen. Because the Japanese y...

Many companies will China close in 2020?

Starting in March, all walks of life in China began to resume work. People stayed at home for more than two months. Many people's moods changed from tension to leisure, and now they are anxious. It's not just the bosses who are anxious. Many employees find that their rents and mortgages are still being paid, the holidays are extended, they can't go to work, and their salaries aren't. Whenever there is no money it is a big problem. More than 700 companies closed down in February, but getting fewer wages is also better than the company suddenly closing down. In February, more than 700 companies have closed down, and this number should be exceeded. Statistics show that more than 55% of catering businesses in China have resumed work, but compared to the same period last year, affected by the epidemic, 78% of catering companies have lost more than 100% of their operating income, and another 16% of them have lost over 70%. This year's sudden outbreak, the impact...

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...

When did the economic bubble burst?

the economic bubble In addition to the recent ups and downs in the stock market, a lot of things have happened in the financial sector, including a series of bail-out measures including major central banks, the liquidity test of the bond market, and even more, terrible data show that even Wall Street hedge funds, everyone Confused about the current situation. The bubble-filled world of financial assets has triggered a domino effect. The Fed experienced a repurchase that began in September 2019. After a shortage of market funds, it has been printing money to save the market. The crazy bailout should be temporary. Until February 14, 2020, the Fed issued a statement saying that it will gradually reduce the bailout to the repo market from 120 billion to 100 billion per day, and will seize the market for 14 days of repurchase from 30 billion to 20 billion. This move may bring liquidity pressure to the market. In turn, it will cause turbulence in the stock market, I did not expect this...

FinanceLinkway

Search This Blog