理想汽车-W(02015) - 2024 Q2 - 季度业绩

Financial Performance - Total revenue for Q2 2024 reached RMB 31.7 billion (USD 4.4 billion), an increase of 10.6% compared to RMB 28.7 billion in Q2 2023[4] - Vehicle deliveries in Q2 2024 amounted to 108,581 units, representing a year-on-year growth of 25.5%[5] - Vehicle sales revenue for Q2 2024 was RMB 30.3 billion (USD 4.2 billion), up 8.4% from RMB 28.0 billion in Q2 2023 and up 25.0% from RMB 24.3 billion in Q1 2024[6] - Gross profit for Q2 2024 was RMB 6.2 billion (USD 850 million), a decrease of 0.9% compared to RMB 6.2 billion in Q2 2023, but an increase of 16.9% from RMB 5.3 billion in Q1 2024[6] - Operating expenses for Q2 2024 were RMB 5.7 billion (USD 785.6 million), an increase of 23.9% from RMB 4.6 billion in Q2 2023, but a decrease of 2.7% from RMB 5.9 billion in Q1 2024[6] - Operating profit for Q2 2024 was RMB 468 million (USD 64.4 million), a decrease of 71.2% compared to RMB 1.6 billion in Q2 2023, and an improvement from an operating loss of RMB 584.9 million in Q1 2024[6] - In Q2 2024, the net profit was RMB 1.1 billion (USD 151.5 million), a decrease of 52.3% compared to Q2 2023's RMB 2.3 billion, but an increase of 86.2% from Q1 2024's RMB 591.1 million[8] - The operating profit margin for Q2 2024 was 1.5%, compared to 5.7% in Q2 2023 and -2.3% in Q1 2024[6] Cash Flow and Financial Position - The operating cash flow for Q2 2024 was a net outflow of RMB 429.4 million, a significant decrease from RMB 11.11 billion in Q2 2023[9] - The free cash flow for Q2 2024 was negative RMB 19 billion, compared to positive RMB 9.62 billion in Q2 2023[9] - Cash position as of June 30, 2024, was RMB 97.3 billion ($13.4 billion)[23] - The operating cash flow for Q2 2024 was a net outflow of RMB 429.4 million ($59.1 million), compared to a net inflow of RMB 11 billion in Q2 2023[23] - Free cash flow for Q2 2024 was a negative RMB 1.9 billion ($254.9 million), compared to RMB 9.6 billion in Q2 2023[23] - Cash and cash equivalents as of June 30, 2024, totaled RMB 91,329,030 thousand, a decrease from RMB 80,783,571 thousand as of December 31, 2023[34] - Total assets as of June 30, 2024, amounted to RMB 143,467,471 thousand, slightly down from RMB 145,110,199 thousand as of December 31, 2023[34] - Total liabilities as of June 30, 2024, were RMB 82,892,249 thousand, compared to RMB 81,796,324 thousand as of December 31, 2023[34] - The company reported a total equity attributable to shareholders of RMB 60,142,624 thousand as of June 30, 2024, down from RMB 62,884,362 thousand at the end of 2023[34] Operational Highlights - As of June 30, 2024, the company operated 497 retail centers across 148 cities and 421 after-sales service centers in 220 cities[5] - The company has established 614 Ideal Supercharging stations equipped with 2,726 charging piles[5] - The company achieved a cumulative delivery milestone of 800,000 vehicles in June 2024, marking a new historical record for Chinese luxury automotive brands[15] - The company expects vehicle deliveries for Q3 2024 to be between 145,000 and 155,000 units, representing a growth of 38.0$5.4 billion) and RMB 42.2 billion ($5.8 billion), reflecting a year-over-year growth of 13.7% to 21.6%[24] Research and Development - Research and development expenses for Q2 2024 were RMB 2,425,600 thousand, a decrease from RMB 3,048,886 thousand in Q1 2024, indicating a focus on cost management[33] - The company emphasizes innovation in product, technology, and business models to provide safe and convenient services for family users[30] - The company has commercialized range-extended electric vehicles and is also developing a pure electric platform[30] - The OTA 6.0 and 6.1 updates were launched in July 2024, introducing new features and optimizations in smart driving and electric vehicle technology[13] Strategic Outlook - The company plans to enhance its cost structure while continuing to invest in technology and product innovation to drive stable business growth[15] - The company aims to expand its product line to broaden its user base, with existing models including the Li MEGA, Li L9, Li L8, Li L7, and Li L6[30] - The company’s mission is to "create a mobile home and create a happy home" through technological advancements[30] - The company acknowledges inherent risks and uncertainties in its forward-looking statements regarding future business development and financial performance[32] Investor Information - The company will hold a conference call on August 28, 2024, at 8:00 AM ET to discuss financial performance and answer questions from investors and analysts[25] - The company uses non-GAAP financial metrics to assess operational performance, including non-GAAP net profit attributable to ordinary shareholders and non-GAAP earnings per share[28] - Investors are encouraged to review comprehensive financial data rather than relying solely on non-GAAP metrics[28]