IDEAL AUTOMOBILES ANNOUNCED UNAUDITED FINANCIAL RESULTS FOR THE FOURTH QUARTER AND FULL YEAR 2023, SHOWING THAT FOURTH QUARTER REVENUE REACHED RMB417.3 BILLION, UP 136.4% YEAR-ON-YEAR, AND TOTAL REVENUE REACHED RMB1,238.5 BILLION, AN INCREASE OF 173.5% YEAR-ON-YEAR. Total vehicle deliveries in the fourth quarter were 131,805 vehicles, with a year-over-year delivery of 376,030 vehicles, an increase of 184.6% and 182.2%, respectively. The gross margin also increased, with a gross margin of 23.5% in the fourth quarter and 22.2% for the full year. In terms of operating profit, the fourth quarter was RMB30.4 billion and RMB74.1 billion for the whole year, respectively, a significant increase from the same period last year. Net profit also increased significantly, reaching RMB57.5 billion in the fourth quarter and RMB118.1 billion for the year. In addition...Show More

IDEAL AUTOMOBILES ANNOUNCED UNAUDITED FINANCIAL RESULTS FOR THE FOURTH QUARTER AND FULL YEAR 2023, SHOWING THAT FOURTH QUARTER REVENUE REACHED RMB417.3 BILLION, UP 136.4% YEAR-ON-YEAR, AND TOTAL REVENUE REACHED RMB1,238.5 BILLION, AN INCREASE OF 173.5% YEAR-ON-YEAR. Total vehicle deliveries in the fourth quarter were 131,805 vehicles, with a year-over-year delivery of 376,030 vehicles, an increase of 184.6% and 182.2%, respectively. The gross margin also increased, with a gross margin of 23.5% in the fourth quarter and 22.2% for the full year. In terms of operating profit, the fourth quarter was RMB30.4 billion and RMB74.1 billion for the whole year, respectively, a significant increase from the same period last year. Net profit also increased significantly, reaching RMB57.5 billion in the fourth quarter and RMB118.1 billion for the year. In addition, the company was included in the Hang Seng Index in December 2023, and in the same month introduced the OTA 5.0 update for the Ideal L Series model, which improves intelligent driving and smart space capabilities. The company expects vehicle deliveries in the first quarter of 2024 to reach 100,000 to 103,000 vehicles, with a total revenue of RMB312.5 billion to RMB31.9 billion.