Vehicle sales in the fourth quarter of Ulai Auto grew by 137percent annually compared with the previous quarter.

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 Vehicle sales in the fourth quarter of Ulai Auto grew by 137percent annually compared with the previous quarter.


IT Home News March 6, today, Weilai released unaudited financial statements for the fourth quarter of fiscal year 2018 and the whole year as of December 31, 2018: According to General Accounting Standards of the United States, Weilai Automobiles fourth quarter revenue was RMB 3,435.6 billion yuan ($499.7 million), an increase of 13.38% compared with the previous quarter; its net loss was RMB 3.503 billion yuan ($509.5 million), an increase of 106.1% compared with the previous year.

Summary of fourth quarter and year-round business:

ES8 output in the fourth quarter was 8069, up 92% from 4206 in the third quarter, and reached 12775 in 2018. ES8 delivery in the fourth quarter was 7980, up from 3268 in the third quarter, and reached 1,1348 in 2018. Summary of Fourth Quarter Financial Performance:

Total revenue was RMB 3,435.6 billion yuan ($499.7 million), an increase of 133.8% over the previous year. Gross margin was 0.4% and - 7.9% in the third quarter. Sales of automobiles were 3.381.2 billion yuan ($491.8 million), up 137% from the third quarter. The car profit margin was 3.7% and - 4.3% in the third quarter. The operating loss was RMB 3,446.9 billion yuan ($501.3 billion), which was 22.7% higher than that of the previous year and 106.4% higher than that of the previous year. Excluding equity incentive expenditure (not calculated in accordance with the General Accounting Standards of the United States), the adjusted operating loss was RMB 3.305.2 billion yuan (about US$480.7 million), an increase of 39% over the previous year and 102.4% over the previous year. The net loss was RMB 3.503 billion yuan ($509.5 billion), an increase of 24.6% annually and 106.1% year-on-year. Excluding equity incentive expenditure (not calculated in accordance with the General Accounting Standards of the United States), the adjusted net loss was RMB 3.361.3 billion yuan ($488.9 million), an increase of 41.3% annually and 102.1% year-on-year. The net loss attributable to ordinary shareholders of Weilai Automobile was RMB 3.516 billion yuan (about 511.5 billion US dollars), a decrease of 64% from the previous year and an increase of 26.4% from the previous year. The net loss attributable to ordinary shareholders of Ulai Automobile was RMB 3.342.9 billion yuan (about US$486.2 million), not calculated according to the General Accounting Standards of the United States. The basic and diluted net losses of US Depositary Receipts per share are RMB 3.37 yuan (about US$0.49). The basic and diluted net losses of US Depositary Receipts per share are RMB 3.2 yuan (about US$0.47) without accounting standards. As of December 31, 2018, the total cash, cash equivalents, restricted-use cash and short-term investments held by Ulai Automobile were 8.345.6 billion yuan ($1.2138 billion). Key points of financial performance in fiscal year 2018: total revenue is RMB 4.951.2 billion yuan (about US$721 billion). Gross margin is - 5.2%. Sales of automobiles amounted to 4.852 billion yuan ($705.8 million), accounting for 98% of total revenue in fiscal year 2018. The profit margin of automobiles is -1.6%. The operating loss was 9.595.6 billion yuan ($1.395.6 billion), an increase of 93.7% over 2017. Excluding equity incentive expenditure (not calculated in accordance with the General Accounting Standards of the United States), the adjusted operating loss was RMB 8916.1 billion yuan ($1,296.8 million), an increase of 83.3% over 2017. The net loss was 9.639 billion yuan ($1.401.9 billion), an increase of 92% over 2017. Excluding equity incentive expenditure (not calculated in accordance with the General Accounting Standards of the United States), the adjusted net loss was RMB 8959.5 billion yuan ($1.303.1 billion), an increase of 81.7% over 2017. The net loss attributable to common shareholders of Weilai Automobile was 23.327.9 billion yuan ($3.392.9 billion), an increase of 208.5% over 2017. The net loss attributable to ordinary shareholders of Ulai Automobile is RMB 8917.8 billion yuan (about US$1.297 billion), which is not calculated according to the General Accounting Standards of the United States. The basic and diluted net losses of US Depositary Receipts per share are RMB 70.23 yuan (about US$10.21). The adjusted basic and diluted net losses of US Depositary Receipts per share are RMB 26.85 yuan (about US$3.9) without accounting standards. Performance outlook:

Weilai Automobile expects ES8 deliveries to range from 3500 to 3800 vehicles in the first quarter of fiscal year 2019, a decline of 56.1% to 52.4% compared with the fourth quarter of fiscal year 2018, and total revenue between RMB 1.399 billion yuan ($202.3 million) and RMB 1.515 billion ($220.5 billion), a decline of 59.5% to 55.9% compared with the fourth quarter of fiscal year 2018.