Core Viewpoint - The company aims to achieve a sales target of 100,000 vehicles by 2025, but faces significant challenges in reaching this goal, especially given its current sales performance and financial losses [1][3][13]. Sales Performance - In August 2025, the company sold 6,569 vehicles, marking a year-on-year increase of 42.9%. However, the total sales for the first eight months of 2025 reached only 31,500 vehicles, which is 31.5% of the 2025 target [3][14]. - To meet the 2025 sales goal, the company must sell 68,500 vehicles in the remaining four months, averaging 17,100 vehicles per month, a target it has never achieved before [3][14]. Financial Performance - For the first half of 2025, the company reported revenue of 3.556 billion yuan and a net loss of 1.825 billion yuan. The asset-liability ratio stood at 75.04% by the end of June 2025 [3][14]. - Industry experts suggest that to achieve breakeven, monthly sales should be around 30,000 to 40,000 vehicles, indicating significant pressure on the company to increase sales [3][14]. Historical Context - The company has consistently failed to meet its self-imposed sales targets since its establishment in December 2020. For instance, in 2024, it sold 65,500 vehicles, achieving only 55% of its minimum target [7][8]. - In 2023, the company set a sales target of 45,000 vehicles but only managed to sell 38,300 vehicles, despite a year-on-year growth of 665.06% [11]. Strategic Initiatives - The company is accelerating its international expansion, with products like the IM5 and IM6 entering markets in Thailand, the UK, and Australia [15][16]. - The launch of the new generation LS6 has seen significant initial demand, with over 10,000 pre-orders within 27 minutes of its release [5][6]. Future Outlook - The company has set an ambitious sales target of 120,000 to 130,000 vehicles for 2024, representing a growth of over 214% compared to 2023 [6]. - To achieve its 2025 target, the company needs to increase its sales growth rate to approximately 53% [13].
智己汽车半年亏18.25亿 前8月销量3.15万辆仅完成目标31.5%
Chang Jiang Shang Bao·2025-09-15 06:21