Financial Highlights:
- Revenue: RMB 18.67 billion (YoY -2.1%, QoQ +7.0%)
- Gross Profit: RMB 2.01 billion (YoY +31.8%, QoQ +18.9%)
- Net Loss: RMB 5.14 billion (YoY -11.1%, QoQ -0.3%)
- Vehicle Deliveries: 61,855 units (record, implies growth in market share)
- Vehicle Margin: 13.1% (up from 11% YoY and 12.2% QoQ)
- Operating Expenses: R&D - RMB 3.33 billion (+9.2% YoY), SG&A - RMB 4.1 billion (+13.8% YoY)
- Cash Position: Strong balance sheet with RMB 42.2 billion in cash and equivalents, indicating solid liquidity to sustain operations.
Management emphasized that the vehicle margin improvement stems from enhanced component cost efficiencies. The continuous ramp-up in production capacity is essential to meet planned deliveries of 72,000 to 75,000 units for Q4.