On February 1, Cyrus released its production and sales report for January 2024. Data show that Cyrus sold 36,838 new energy vehicles in January, an increase of 654.1% year-on-year.
"In January 2024, AITO delivered 32,973 new cars, an increase of 34.76% compared with the previous month, of which more than 1,000 were delivered in a single day in 24 days." The relevant person in charge of Sailis revealed to reporters, especially the delivery of AITO’s new M7 reached a new high, with 31,253 new cars delivered in a single month. For the first time, the monthly delivery exceeded 30,000, opening a new chapter in the delivery speed.
As a vehicle partner with the deepest cooperation with Huawei, the widest range and the largest vehicle loading volume, the AITO series under Cyrus has emerged in the automotive industry since 2023, demonstrating strong competitiveness. Since September 2023, AITO’s new M7 and M9 models have been launched one after another, helping to rapidly increase sales.
The above-mentioned person in charge told reporters: "At present, the cumulative size of AITO’s new M7 has exceeded 140,000, and the order growth and delivery efficiency will accelerate together."
The company’s recently released 2023 performance forecast shows that it is expected to achieve operating income of 35.50 billion yuan to 36.50 billion yuan during the reporting period, an increase of 4.09% to 7.02% year-on-year; in addition, although the company expects net profit attributable to the parent to still lose money, it has improved compared with the same period in 2022.
"Continued high growth in sales performance also means that Cyrus’ profit improvement expectations for Quarter 1 in 2024 have been greatly improved, and with continued revenue growth and supply chain cost reduction, battery cost reduction, etc., it is expected that the company’s Quarter 1 net profit margin will be significantly improved." Market analysts believe.
The industry also generally believes that, from the delivery data released by Sailis, this wave of sales in January is still based on the large-scale delivery of AITO’s new M7. The M9 listed at the end of 2023 has not been delivered in large quantities, but Dading has exceeded 30,000 units. It is foreseeable that the revenue growth rate of Sailis in the first half of 2024 will be very impressive.
The latest research report of Cinda Securities pointed out that the further volume of AITO M9, a high-priced and high-margin model, is expected to further improve the profitability of Cyrus. In addition, research reports released by a number of brokerages predict that although the company’s performance is still under pressure, with the help of products and channels, the company is expected to start making profits in 2025.
In the context of intensified competition in the new energy vehicle market, Cyrus actively explored digital and intelligent transformation when it started its third business in 2016, started the construction of smart factories, and continued to increase R & D investment over the years. It is understood that Cyrus’s three smart factories have a total of more than 5,000 robots, and the automation rate of welding workshops and spraying workshops is as high as 100%. A car can be rolled off the production line in 30 seconds.
In addition, in terms of integrated die-casting technology, the Sailis Automotive Smart Factory has also achieved the production of 9000T, and the produced rear car body can be integrated into one of 87 parts, effectively improving the vehicle’s endurance, energy-saving efficiency, and body stiffness.
Regarding the future development of the company, the above-mentioned person in charge emphasized that the company’s positioning is very clear, and it is a technology-based manufacturing enterprise with new energy vehicles as its core.
"Whether it is a new energy vehicle or a smart car, in the final analysis, it is still a manufacturing industry. Having core technology only completes half of the work, and at the same time having high-quality production and delivery capabilities can be considered a closed loop." The above-mentioned person in charge said that only by establishing a system and capabilities for self-research and manufacturing can it become a "leader" in the transformation of new energy vehicles.
"The cooperation with Huawei, coupled with the accumulation of its own technology research and development and intelligent manufacturing, is a factor in the sharp increase in sales of Cyrus cars," Zhang Xiang, director of the New Energy Vehicle Technology Research Institute of Jiangxi New Energy Technology Vocational College, told Securities Daily. "If we can maintain stable cooperation with Huawei for a long time, then the future development prospects of Cyrus are still very impressive."
Our reporter, Feng Yuyao
关于作者