Detailed discussion on mainland EV industry. Is Li is now No 1?

On May 10, after the Hong Kong stock market, the electric three silly $Li Auto(LI)$ deal car-W was the first to hand in the first quarter of 2023. There is no doubt that the ideal financial report data for the first quarter of 2023 should be very good. The current ideal is really getting smoother and smoother, and the more it sells, the better. Generally speaking, the ideal is no longer the ideal it used to be.

I. The overall performance is very full and ideal.

Revenue: In this quarter, the company achieved revenue of 18.787 billion yuan, compared with 9.562 billion yuan in the same period last year, a year-on-year increase of 96.48% and a month-on-month increase of 6.4%. In fact, the ideal year-on-year increase in revenue is also expected. After all, the ideal car delivery in the first quarter of 2023 is there. The ideal now gives people the feeling that it is on the right track, which is a bit like Tesla.

Profit: In this quarter, the company achieved a gross profit of 3.83 billion yuan, compared with 2.16 billion yuan in the same period last year, with a year-on-year increase of 77.31% and a month-on-month increase of 7.4%. Ideal achieved a net profit of 934 million yuan in this quarter and a net loss of 0.11 million yuan in the same period last year. This is already the first time for Ideal to make a profit for two consecutive quarters, which should be the first among the new forces of car manufacturing. It is worth mentioning that the ideal gross profit margin in this quarter is 20.4%, and the ideal deduction search is still very effective. According to the current trend, it can only be said that the ideal path is getting smoother and smoother.

Delivery: Ideally delivered 52,584 vehicles in this quarter, compared with 31716 vehicles in the same period last year, with a year-on-year increase of 65.8% and a month-on-month increase of 13.5%. The significant increase in the number of deliveries in Q1 in 2023 is due to the continuous expansion of the product line. Last year, there was only one ideal ONE that hit the world. Now the products with different prices of L9/8/7 have been rolled out, and the increase in sales is only a matter of time.

II. In terms of delivery, the L series is carrying the flag.

In the first quarter of 2023, the ideal delivered a total of 52,584 vehicles, compared with 31716 in the same period last year, a year-on-year increase of 65.80% and a month-on-month increase of 13.5%. The ideal delivery data was actually known when the March delivery data was disclosed in early April. The ideal delivery data is quite ideal. The ideal ONE has gradually retreated behind the scenes. Nowadays, the continuous expansion of L series models has covered more potential people, and the product line has been greatly broadened.

In terms of delivery, $NIO Inc.(NIO)$ and $XPeng Inc.(XPEV)$ HK delivered 31041 vehicles and 18,230 vehicles respectively in this quarter more than $Tesla Motors(TSLA)$  Once upon a time, the number of deliveries of NIO and Xiaopeng were ideal. Now the ideal delivery data has exceeded that of NIO and Xiaopeng. There is more to pay for the sum of data. You can imagine how powerful the ideal product power is. In fact, before that, the ideal was suppressed by NIO Xiaopeng in terms of delivery. It was not that the ideal product was not excellent enough, but that the ideal model was too single at that time, only the ideal ONE support. Now, the product range is more extensive, and the ideal product power is strong enough, so the delivery will naturally come up.

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