On July 1, the company announced the June sales volume. The total sales volume reached 44,126 units, up 372.04% year on year. The cumulative sales volume in January-June 2009 was 348.55%. Among them, AITO Quanjie delivered more than 40,000 units in a single month in June, reaching 42,780 units, a record high.

AITO asked the M9 to reach a new high, delivering 17,241 vehicles in June, an increase of 4.73% over the previous month, with a cumulative total of over 100,000 units, ranking first in sales of more than 500,000 models. AITO Quanjie New M7 delivered 18,493 vehicles in June, up 4180.79% year on year, up 81.62% month on month, with cumulative sales exceeding 110,000 in the first half of the year; the Gaoyan Urban Performance SUV QJ M5 sold more than 10,000 units, with 7,046 units delivered in June, up 50.59% year on year and 22.92% month on month.

The Wangjie M9 is the flagship SUV of Hongmeng Zhixing. It is positioned as the flagship SUV of Panorama Smart. It was officially released and launched on December 26, 2023. From February to May this year, QG M9 deliveries continued to grow, with deliveries of 5,251 units, 5446 units, 15,173 vehicles, 16463 units, and 17,241 units respectively. It became the sales champion of models over 500,000 yuan for 13 consecutive weeks. This result not only set a new sales record for domestic luxury cars, but also became the only one in the top ten sales lists for luxury models over 500,000 yuan Self-owned brand cars on the list type. In just 20 days of launch, the new M7 Ultra surpassed 30,000 units, delivered more than 10,000 units in 18 days, and delivered more than 20,000 units in the first month of launch, setting a new record for the speed of delivery of new power models.

Investment advice: The company turned a loss into a profit in the first quarter, exceeding expectations. Currently, sales of the company's new M7 and 9 are strong. Given the high volume of M9 orders and excellent market reputation, I am optimistic that its sales will continue to rise. There are plenty of orders for the new M5, and delivery will begin on May 15, reversing the lackluster sales of the old M5. Since the company has now passed the inflection point of profit, and M9 bikes have a high profit level, subsequent companies are more flexible in their profits, so I continue to strongly recommend them!

Risk warning: 1) Downstream demand falls short of expectations; 2) The deteriorating competitive landscape exceeds expectations.