It is worth noting that Weilai achieved positive gross profit in the second quarter, with vehicle profit of 9.7%, negative 24.1% in the second quarter of 2019 and negative 7.4% in the first quarter of 2020; the gross profit rate is 8.4%, negative 33.4% in the second quarter of 2019 and negative 12.2% in the first quarter of 2020.
In terms of operating loss, the operating loss in the second quarter was 1.160 billion yuan (US $164.2 million), down 64.0% from the second quarter of 2019 and 26.1% from the first quarter of 2020. Excluding share based compensation, the adjusted business loss in the second quarter of 2020 was RMB 1117.7 million (US $157.8 million), which was 64.4% lower than that in the second quarter of 2019 and 27.5% lower than that in the first quarter of 2020.
R & D investment increased by 4.4% over the first quarter, and R & D expenditure in the second quarter was RMB 545.2 million (US $77.2 million), down 58.1% from the second quarter of 2019. Excluding share based compensation (non GAAP), R & D expenditure was RMB 533.5 million (US $75.5 million).
As of June 30, 2020, cash and cash equivalents, restricted cash and short-term investments amounted to RMB 11.2 billion (US $1.6 billion).
Weilai also released its outlook for the third quarter. It is estimated that Q3 will deliver between 11000 and 11500 vehicles, an increase of 129.2% to 139.6% over the same quarter of 2019, and an increase of about 6.5% to 11.3% over the second quarter of 2020; the total revenue will be between RMB 4.047.5 million (US $572.9 million) and RMB 42123.3 million (US $596.2 million), with an increase of 120.4% to 129.3% over the same quarter in 2019 and the second in 2020 The quarterly growth was about 8.8% to 13.3%.
Source of this article: Ding Guangsheng, editor in charge of Netease science and Technology Report_ NT1941