Jinwu Financial News | According to Debon Securities Research Report, Ideal L6, a subsidiary of Ideal Auto (02015), was listed in April 2024, and the price fell to the 0.2-0.3 million range. It is highly competitive in terms of space, intelligence and comfort. The cumulative number of orders during the first sale period from April 18 to May 5 exceeded 0.041 million, and delivery exceeded 20,000 in June, which is expected to consolidate the company's L series growth base market.

In terms of pure electricity, although MEGA's short-term performance is weak, and the company also postponed the launch of pure electric SUV products until 2025H1. The bank believes that with the pace adjustment of pure electric products, the company focuses on improving user value and operating efficiency, and the continuous improvement of the pure electric power supply network, the country is expected to build 2000+ supercharging stations and 10,000+ charging piles by the end of the year. The ideal car relies on a strong product definition capability and an organizational structure with strong execution.

The bank believes that the company accurately targets home users and has proven its ability to define its products through the L series models, and that the L6 volume of the new car can be expected; with the pace adjustment and energy supplementation network for pure electric products, sales of subsequent models can still be expected. The bank estimates that the company's revenue for 2024-2026 will be 139.61, 189.67, and 242.3 billion yuan, respectively, and the corresponding net profit to mother will be 7.35, 12.13, and 18.29 billion yuan, respectively. Based on the closing price on July 19, 2024, the corresponding PE was 20.36, 12.34, and 8.18 times, respectively, maintaining the “buy” rating.