To The Moon

It will further push the expectations of the secondary market down. Looking at the recent sales and orders, there is actually no big problem, but the market's judgment of value has always been a mystery. So far this year, except for the only king$BYD COMPANY(01211)$  BYD, the other variables are particularly large, and it is impossible to use rational analysis to do too much. I personally think that domestic new energy vehicle companies have now launched a wave of overly fierce value-zero competition system, which has led to the fact that car companies will not make money in the short term. Any bad news can immediately shatter the story that has been told for a long time, and funds have also begun to raise the risk rating of these targets, which is equivalent to a double debuff.

From the current point of view, L6 may indeed not make money. One is that the gross profit is not high enough. Another more serious problem is that the potential energy cannot be raised. Wenjie M7 is a very obvious diversion signal. This reflects the difference in Ideal's ability to integrate sales channels and break the circle of marketing. If good things are told with ordinary stories, the effect will not be very good. Frankly speaking, Yu Dazui may really like to brag, but he has helped Huawei tell stories for more than ten years. He knows what should and should not be done. This is a skill.

What the market wants to see most is pure electric. Maybe Mr. Li himself is unwilling to talk about it this year, so there may not be a good start-up opportunity in the short term.

On the other hand,$NIO Inc.(NIO)$  NIO.US has recently made a comeback thanks to the wave of sedans that Su7 has launched. Its lower valuation is more likely to turn around, especially since Ledao has no ideological burden when it comes up. It does not talk to you about gross profit but is here to find growth. From this perspective, it or$XPeng Inc.(XPEV)$  Xiaopeng still has certain potential to carve out its own segment in the second half of the year.

The above is purely a preview of the possible trend of the secondary market. The evaluation of major car companies remains unchanged.

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