Core Viewpoint - Fly-E Group, Inc. reported a significant decline in net revenues for the first quarter of fiscal year 2026, primarily due to decreased sales volume and average sales price of electric vehicles, while wholesale revenue showed growth driven by an expanded dealer network [2][3][4]. Financial Summary - Net revenues were $5.3 million, a decrease of 32.3% from $7.9 million year-over-year [3][6]. - Retail sales revenue fell to $3.8 million, down 45.2% from $6.9 million in the same period last year [4]. - Wholesale revenue increased to $1.4 million, up 42.3% from $1.0 million year-over-year [4]. - Rental services revenue was $0.1 million, with no revenue generated in the same quarter last year [4]. Cost and Profitability - Cost of revenues decreased to $3.1 million, down 35.8% from $4.8 million year-over-year [5]. - Gross profit was $2.3 million, a decrease of 27.0% from $3.1 million in the same period last year, with a gross margin of 42.4%, up from 39.4% [6][7]. - The gross margin for the rental services business was notably high at 79.8% [7]. Operating Expenses - Total operating expenses increased to $3.8 million, up 19.7% from $3.1 million year-over-year, driven by higher depreciation, professional fees, and product development expenses [8]. Net Loss - The net loss for the quarter was $2.0 million, an increase of 1,019.0% from $0.2 million in the same period last year [9][10]. - Basic and diluted losses per share were $0.30, compared to $0.04 in the same period last year [10]. EBITDA - EBITDA was negative $1.3 million, compared to positive EBITDA of $57,021 in the same period last year, reflecting a significant decline in operational performance [11][26]. Financial Condition - As of June 30, 2025, the company had cash of $2.3 million, an increase from $0.8 million as of March 31, 2025 [12]. Balance Sheet Highlights - Total assets were $33.8 million, slightly up from $33.7 million as of March 31, 2025 [20]. - Total liabilities decreased to $20.1 million from $23.9 million [20]. Revenue Drivers - The decline in retail sales revenue was attributed to safety concerns related to lithium-battery accidents, leading customers to prefer oil-powered vehicles [4]. - The increase in wholesale revenue was primarily due to the expansion of the dealer network [4]. Strategic Focus - The company aims to enhance its geographic presence, improve product offerings, and maintain rigorous safety standards to address market challenges and meet the demand for eco-friendly mobility solutions [2].

Financial Data and Key Metrics Changes - Total revenue reached RMB 116 billion, up 30.5% year on year, marking the fifth consecutive quarter of record-breaking performance [6][24] - Adjusted net profit was RMB 10.8 billion, up 75% year on year, achieving a new record high for the third consecutive quarter [6][32] - Gross margin improved to 22.5%, an increase of 1.8 percentage points year on year [6][24] Business Line Data and Key Metrics Changes - Smartphone revenue was RMB 45.5 billion, accounting for 39.3% of total revenue, with global smartphone shipments reaching 42.4 million units, marking the eighth consecutive quarter of year-on-year shipment growth [25][24] - AIoT revenue reached RMB 38.7 billion, up 44.7% year on year, with a gross margin of 22.5%, up 2.8 percentage points year on year [26][24] - Smart large appliances revenue grew 66.2% year on year, with air conditioning shipments exceeding 5.4 million units, achieving over 60% year-on-year growth [27][15] Market Data and Key Metrics Changes - In Mainland China, smartphone market share for devices priced between RMB 4,000 and 6,000 increased by 4.5 and 6.5 percentage points year on year, reaching 24.7% and 15.4% respectively [13] - Xiaomi ranked first in smartphone activations in Mainland China and maintained strong positions in Southeast Asia, Europe, and Latin America [9][10] - Global MAUs for Internet services reached 731 million, up 8.2% year on year, with MAUs in Mainland China reaching 185 million, up 12.4% year on year [29] Company Strategy and Development Direction - The company aims to achieve steady annual increases in market share in China and is focused on premiumization and technological advancements [11][12] - Xiaomi plans to enter the European market by 2027 and is committed to enhancing its brand and product competitiveness [21][85] - The company emphasizes innovation driven by user needs and aims to transform the home appliance industry through intelligent transformation [16][17] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the intense competition in the smartphone industry and the need for continuous investment in core technology and product innovation [10][11] - The company expects the smartphone market to show little growth overall, with a target of 175-180 million shipments for the year [81] - Management expressed confidence in the long-term growth of the large appliance business despite current market challenges [17][98] Other Important Information - Xiaomi's R&D expenses reached RMB 7.8 billion, up 41.2% year on year, with a record high of 22,641 R&D personnel [31] - The company was included in the Fortune 500 list for the seventh consecutive year, ranking 297th, an improvement of 100 places from the previous year [21] - The company is committed to corporate social responsibility and has made significant contributions to disaster relief efforts [33] Q&A Session Summary Question: Performance of AIoT segment in China and overseas - Management noted strong growth in both markets, with a focus on expanding the new retail system to enhance AIoT business [36][38] Question: Long-term smartphone gross margin outlook - Management indicated that while there are short-term pressures on gross margin, premiumization and product structure adjustments are expected to support future growth [37][45] Question: AIoT gross margin pressure and R&D investment direction - Management explained that the pressure on AIoT gross margin was due to market conditions, and R&D investments are focused on core technologies and product lines [48][52] Question: EV business gross margin and overseas development - Management expressed confidence in maintaining satisfactory gross margins through competitive products and emphasized the importance of brand awareness for EVs in overseas markets [88][90] Question: Robotics opportunities and large appliances strategy - Management is optimistic about robotics opportunities and highlighted the rapid growth of air conditioning sales, with plans to enhance competitiveness further [94][98]

Electric Vehicle (EV) Market Focus - Detroit is focusing on driving down EV prices [1]

Investors anxiously await an earnings report from Xiaomi following a rally that has driven its market value up $120 billion in the past year on excitement over its push into electric vehicles https://t.co/pjcqIYIoFc ...

Core Viewpoint - Energi Holdings Limited will acquire a 51% stake in Tembo e-LV B.V. from VivoPower International PLC, enabling Tembo to proceed with its SPAC merger at an equity valuation of $838 million [1][2]. Group 1: Investment Details - The total enterprise valuation for 100% of Tembo is set at $200 million, with the equity purchase price for the 51% stake adjusted for Tembo's net debt and customary adjustments at closing [2]. - The investment is contingent upon the completion of Tembo's business combination agreement with Cactus Acquisition Corp 1 Limited and customary closing conditions [2]. Group 2: Corporate Structure and Strategy - VivoPower has initiated the recruitment of a dedicated board of directors for Tembo in preparation for its public listing [3]. - VivoPower is undergoing a strategic transformation to focus on XRP and digital assets, aiming to support decentralized finance infrastructure and blockchain applications [4]. Group 3: Company and Subsidiary Overview - VivoPower operates globally with a focus on sustainable energy solutions and has two business units: Tembo and Caret Digital [5]. - Tembo specializes in battery-electric and off-road vehicle solutions for various industrial sectors, including mining and agriculture, providing electrification solutions for utility vehicle fleet owners [6].

Industry Focus - Turkey aims to attract foreign investment while controlling the influx of inexpensive Chinese EVs [1] - Progress in achieving both goals has been slow [1]

Tesla Stock Performance & Investment - Tesla's stock closed at $330.56, down 1.50% [2] - JP Morgan increased its Tesla holdings to 46,015,610 shares, becoming the fifth-largest shareholder, with a value of over $15 billion [2] - Tesla is held by 3,989 institutional investors, totaling 1580 million shares [2] Tesla vs Short Sellers - MUFG Securities EMEA holds the largest net short position against Tesla, valued at $4100 million [2] - Musk believes short sellers will be "obliterated" if they don't exit their positions before Tesla achieves full self-driving [2] - The core of the multi-party game is whether Tesla's FSD will be successful; if successful and commercially available on a large scale, Tesla will become an AI robotics company, and its valuation model will be completely subverted [2] Tesla & Swedish Union Dispute - Tesla has been in a dispute with the Swedish union IF Metall for over 600 days due to Tesla's refusal to sign a collective agreement [2] - Only about 60 Tesla technicians participated in the strike [2] - IF Metall is now open to alternative solutions to a collective agreement, including incorporating Swedish industry standard terms into individual employee contracts or transferring Tesla's Swedish operations to a company with a collective agreement [2] Tesla's Used Car Market & Service - Tesla dominates the used electric vehicle market, with Model 3, Model Y, and Model S taking the top three spots in Carvana's sales [3] - Electric vehicles and plug-in hybrid vehicles accounted for 9% of Carvana's sales in Q2 2025, the highest record [3] - Tesla launched a monthly payment Extended Service Agreement (ESA) in Canada, similar to the US version, with prices varying by model [3]

Core Insights - Fly-E Group, Inc. has opened a new retail location in Boston, Massachusetts, as part of its expansion strategy in the Northeastern United States, aiming to provide eco-friendly transportation options [1][3] - The Boston store features the full lineup of Fly E-Bike products, including electric bikes, e-scooters, and accessories, catering to both commuters and delivery professionals [2][3] - The company now operates over 40 retail locations across North America, including major metropolitan areas like New York and New Jersey, indicating a strong focus on markets with high potential for electric mobility adoption [3] Company Overview - Fly-E Group, Inc. specializes in designing, installing, selling, and renting smart electric motorcycles, electric bikes, and electric scooters under the brand "Fly E-Bike" [4] - The company's mission is to promote eco-friendly transportation and contribute to a more sustainable future [4]

When China’s biggest electric carmaker offered a $1bn investment in 2024, Turkey rolled out the red carpet. Yet a year down the line, things have not progressed much https://t.co/yO0lZA7cGm ...

🚨 JP Morgan Buys 6.6M $TSLA Shares in Q2, Becomes 5th Largest ShareHolderIn the second quarter, the position increased by 16.7% to a new high of 46,015,610 shares, valued at $14.62 billion as of June 30, when Tesla shares closed at $317.66.The New York-based firm held 39,415,548 shares in the U.S. EV maker by the end of March — a position worth $13.70 billion.Link: https://t.co/CRZiawv1n7 ...