Original link: https://www.latepost.com/news/dj_detail?id=1421
Ideal ONE caused Ideal to lose 800 million yuan
Li Auto’s new car deliveries returned to the first echelon in November (except BYD, Tesla and SAIC-GM-Wuling), which partially changed the market’s pessimistic expectations. On December 9, the company further estimated that the delivery volume in December would pass the integer mark of 20,000 vehicles for the first time.
These figures play down the impact on market confidence caused by the halving of ideal car deliveries in August from the previous month. However, the latest three-quarter report still “shows” the cost of misjudging the market by the management or product team.
Ideal Auto’s explosive model strategy has created an excellent financial model, which is the closest to Tesla’s gross profit margin among Chinese electric vehicle companies. It reached 22.44% in the first quarter of this year. Tesla’s highest is 30.17% (the third quarter of 2021), and 29.65% in the first quarter of this year.
In the third quarter, ideal car sales revenue increased by 6.6% to 9.05 billion yuan, and the average selling price also rose to 385,300 yuan (including value-added tax) due to the increase in deliveries of the flagship model L9. However, the ideal gross profit margin of vehicle sales in the current period was nearly halved to 12%.
Officially blamed on “relevant inventory provision and loss of purchase commitments arising from the accelerated launch of L8 and lower ideal ONE order forecast”. This can also be understood as an ideal overestimation of the demand for ONE. With the launch of the iterative model L8 and the discontinuation of ONE, most of the materials or inventory related to ONE need to be recorded as losses in accordance with relevant accounting standards.
The ideal current estimate is 803 million yuan. After deducting this part of the impact, the ideal vehicle gross profit rate in the third quarter exceeded 20%. Including the operating expenses brought about by the expansion of stores and the increase in research and development expenses, Ideal’s operating loss in the third quarter has greatly expanded from about 97.8 million yuan in the same period last year to 2.13 billion yuan.
On the day of the release of the financial report, Li Xiang, the founder and CEO of Ideal Auto, announced the adjustment of the company’s management model. At the same time, it was officially announced that the co-founder and president Shen Yanan would no longer serve as president and quit daily operation and management from January next year. (Gong Fangyi)
Goodbye Boeing 747, you used to make the world smaller
This week, the last Boeing 747 left the factory, and the production line was shut down. An era is over.
The Boeing 747 is the pride of the aviation industry. It was born in the golden age of commercial airliners, but it was not considered the future at first. The shadow of war has subsided and the income of the people has increased. The 747, which is both big, wide and capable of flying, has benefited from the popularity of intercontinental travel and has also accelerated this process.
It flew countless people to distant places and witnessed countless beautiful moments.
Since its debut more than fifty years ago, the 747 has quickly become one of the world’s most popular airliners. Its huge body and double-deck cockpit design enable it to accommodate more passengers, making it the first choice for long-distance passenger transport. It was born out of Boeing’s failed bid for a military transport aircraft, and its civilian use was originally to carry goods rather than people.
Boeing has delivered a total of 1,574 747s (including various variants) since the prototype was produced in 1967. In order to produce and operate this Big Mac, Boeing built the largest aircraft assembly plant in the world at that time, the airport was replaced with newer and better equipment, and the runway and other infrastructure were upgraded.
As time went on, the 747 also began to face challenges. New passenger planes, such as the 777 and 787, and the Airbus A350 are more cost-effective and more competitive.
Six years ago, Boeing began considering discontinuing the 747 altogether. After that, the complex economic situation and the epidemic disrupted the rhythm of 747 production suspension, but the general direction remained unchanged. The last new Boeing 747 is a freighter model, scheduled to be delivered to Atlas Cargo early next year.
Everything has an end. No matter how great something is, it has its life cycle. We can only accept this fact. (Gong Fangyi)
All medical institutions are required to receive new crown positive patients
Various places are required to cancel the epidemic prevention checkpoints of roads, waterways, and ship locks
- According to the latest notice of joint defense and joint control, all localities should completely cancel the epidemic prevention checkpoints of roads, waterways, and ship locks, and no longer check the negative nucleic acid test certificates and health codes of truck drivers, passengers, and crew members.
- Freight vehicles no longer need closed-loop management, and drivers and passengers do not need “landing inspection” when traveling across regions.
- In addition, the notice also requires transportation and logistics practitioners to be included in the “white list” management of the territorial joint prevention and control mechanism.
Square cabin transformed into sub-designated hospital
- According to Jiao Yahui, director of the Department of Medical Affairs of the Health and Medical Commission, the prefecture-level city is used as a unit, and the square cabin hospital is upgraded to a sub-designated hospital according to the population size of the city, so that it can have certain therapeutic functions. According to the proportion of 10% of the beds to transform the monitoring beds.
- According to Jiemian News, as of April 25, there were nearly 400 shelter hospitals built or under construction across the country, with a total of more than 560,000 beds.
All medical institutions are required to receive new crown positive patients
- The general outpatient diagnosis and treatment area of the hospital should be divided into a nucleic acid positive diagnosis and treatment area and a nucleic acid negative diagnosis and treatment area.
- Nucleic acid positive areas and nucleic acid negative areas must be set up in inpatient, outpatient, and emergency areas, including in inpatient wards.
- All medical institutions must receive nucleic acid positive patients.
- The joint prevention and control team proposed earlier: to speed up the construction of fever clinics (outpatient clinics) in township health centers and community health service centers, and strive to increase the coverage rate to about 90% by the end of March 2023. Improve equipment configuration, including oxygen therapy equipment, portable lung function instruments, finger-clip pulse oximeters, wearable health monitoring equipment, etc. (Gong Fangyi)
OTHER NEWS
China’s November inflation data eased.
According to the National Bureau of Statistics, the CPI rose by 1.6% YoY in November (2.1% in the previous value), and fell by 0.2% MoM. The CPI pork price sub-item rose 34.4% year-on-year (previous value +51.8%), and the price of fresh vegetables fell 21.2% year-on-year (previous value -8.1%).
China plans to issue 750 billion yuan of special treasury bonds.
According to Xinhua News Agency, the Ministry of Finance of China has decided to issue 2022 special treasury bonds with a total face value of 750 billion yuan. It is a 3-year fixed-rate interest-bearing bond. The issuance date and value date are December 12, 2022. The market is targeted at domestic banks for targeted issuance.
The first C919 was officially delivered to China Eastern Airlines, and it will start carrying passengers as early as the spring of 2023.
According to flight data, the aircraft flew from Shanghai Pudong Airport to Shanghai Hongqiao Airport at 11:40 on December 9. At the 14th China International Aviation and Aerospace Expo held on the 8th of last month, C919 passenger aircraft manufacturer COMAC signed 300 C919 intention orders, and the cumulative number of orders exceeded 1,100.
Apple plans to upgrade iCloud encryption system.
According to media reports, Apple has added an end-to-end encryption system to its data storage service iCloud, which theoretically can more effectively resist hacker attacks and protect data security. The new encryption system will be launched in the United States before the end of the year and is expected to cover China next year.
Foxconn added an investment of US$500 million in its Indian subsidiary.
According to the announcement document submitted by Foxconn, its Singapore subsidiary has increased the capital of its Indian subsidiary by US$500 million by purchasing shares. In August, Foxconn planned to quadruple the number of employees at its India iPhone factory within two years.
Analysts estimate that Musk will cut server orders by 80% after acquiring Twitter.
Tianfeng International analyst Ming-Chi Kuo said on social platforms that according to his latest survey, Twitter cut 80% of server orders after being taken over by Musk. These servers are mainly equipped with Intel chips. In view of the current importance of server chips to Intel’s profits, “It is estimated that Intel will be the main loser of this order.”
The consumption of large non-essential items shrank, and the quarterly revenue of the opening quarter was lower than expected.
In the fiscal quarter ended November 20, Costco achieved revenue of US$54.44 billion, a year-on-year increase of 8.1% (US$240 million less than expected), and achieved a net profit of US$1.364 billion, compared with US$1.324 billion in the same period last year. The management said that the consumption of large non-essential items such as mobile phones and home appliances has shrunk, which has affected the company’s performance. In addition, 20% to 30% of the revenue of market openers comes from outside the United States, and the quarterly exchange rate loss is about 53 million US dollars.
Netflix says it doesn’t see a way to make money broadcasting the contest.
Netflix co-CEO Ted Sarandos said the streaming giant “doesn’t see a path to profitability” in “renting major sporting events.” Sarandos added: “We’re not anti-sports, we’re just chasing profit. We certainly haven’t figured out how to do that. I’m pretty confident we can double that without sports.” A departure from what Netflix has done in the past. Previously, Netflix has been investing heavily in sports programming, such as filming the documentary “The Last Dance” (The Last Dance) and providing live services for the NFL.
Starting from the 25th, Tesla’s Shanghai factory Model Y will suspend production for a week.
Tesla will suspend the production of Model Y models at the Shanghai factory from December 25 to January 1. The suspension of production will reduce the production of Model Y models in December by about 30% month-on-month.
The FTC is suing Microsoft to block its acquisition of Activision Blizzard.
On December 8, the US Federal Trade Commission (FTC) sued Microsoft to block its acquisition of Activision Blizzard on the grounds that it could harm competition in the gaming market. The FTC pointed out that Microsoft has turned acquired game companies into exclusives. Microsoft said it would go to court with federal agencies and said it believed the deal would be good for competition.
Singaporean encryption platform Amber Group will lay off 40% of its workforce.
Amber Group, one of Asia’s largest cryptocurrency trading and lending platforms, will lay off more than 40% of its staff, close its retail operations and terminate its $25 million-a-year sponsorship deal with Chelsea Football Club. Affected by FTX’s bankruptcy, Amber has suspended a round of financing.
DJI released a new consumer drone, the DJI Mini 3, priced at RMB 2,689 for the bare metal.
The new machine continues the image transmission and obstacle avoidance technology of the Mini 2, and the camera is upgraded to the 1/1.3” CMOS with the same specifications as the Mini 3 Pro, with a 24mm, f/1.7 aperture, and also supports vertical shooting mode. If the Mini 3 uses a standard battery, The battery life is 4 minutes longer than the Mini 3 Pro (38 minutes). The long battery life can fly for 51 minutes. In terms of price, the bare metal is 2689 yuan, with a normal remote control 3288 yuan, and with a screen remote control 4288 yuan.
Lululemon’s performance guidance was lower than expected, and its inventory increased by 85%, causing market concerns.
In the fiscal quarter ended October 30, Lululemon’s revenue was US$1.857 billion, a year-on-year increase of 28.02%, and its net profit was US$255 million, a year-on-year increase of 36.04%. It performed well in the context of European and American consumption shifting from enjoyment to durable goods. However, the market noticed that their inventory increased by 85% to 1.7 billion US dollars, and the company’s fourth-quarter revenue guidance was lower than expected, causing market concerns. Although Lululemon management believes that the current figures are healthy, the substantial growth is mainly due to the low base last year, and said No decline in demand due to inflation concerns was seen.
Amazon is going to pay users $2 for “privacy.”
It’s part of the Amazon Advertising Verification program, which pays select users $2 a month to share what ads they see on Amazon, where they see them, and what time of day they see them. According to Amazon, the hope is to provide consumers with a more personalized advertising experience.
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