2023-06-12 08:53:44
NIO’s Q1 revenue of 10.68 billion was lower than market expectations; Liu Congsheng of Pien Tze Huang resigned as director and deputy general manager
1. Today’s headlines
Douyin Waimai terminated its GMV target of 100 billion yuan, and Express delivery became a major focus
2. New Trends in Finance and Economics
Tuniu’s net income in the first quarter was 63.2 million yuan, with a net loss of 7.5 million yuan
NIO’s revenue in the first quarter was 10.68 billion yuan, a year-on-year increase of 7.7%, lower than market expectations
R&F Properties: The total sales revenue in May was regarding 1.54 billion yuan, a year-on-year decrease of 62.3%
Mihayou’s 2022 revenue will be 27.34 billion yuan and net profit will be 16.145 billion yuan
3. Major business events
Jiang Jianqi, chairman of Xiangpiaopiao, responded to the recent frequent reduction of holdings: In order to introduce strategic investors
“Zhanyin Department” cleared the first share of AI chips, and made 400 million investment in 4 years
Ningde Times disclosed the latest developments in the field of fast charging: charging takes less than 10 minutes, and the battery life exceeds 400 kilometers
Huawei Yu Chengdong said that in 2030, the main players of Chinese car companies may be less than 5
4. Changes in corporate organization and personnel
Pien Tze Huang: Mr. Liu Congsheng resigned as director and deputy general manager
It is reported that Chen Duye, the vice president of marketing of the giant engine, has been transferred to the head of Douyin’s entertainment business
The following are today’s hot financial and commercial events, let’s take a look.
1. Today’s headlines
Douyin Waimai terminated its GMV target of 100 billion yuan, and Express delivery became a major focus
According to news on June 10, Douyin’s food delivery business has given up its goal of reaching 100 billion yuan in GMV (total transaction value) this year, and GMV is no longer the most important indicator for the team in the second half of the year. The current focus of the business has shifted to: try to run through the business process in more ways. One of the important directions is to borrow more local life service providers for distribution in addition to third-party distribution platforms such as SF Express and Dada. Previously, the cooperation between Douyin and service providers only stayed in the expansion of store business. A person close to Douyin Life Services revealed that the adjustment was due to the fact that business progress in the first half of the year fell short of expectations. Relevant information shows that if Douyin Waimai is to fulfill its annual target, the GMV in the second half of the year must exceed at least 90 billion yuan, which is a very difficult task. (“Late Post”)
2. New Trends in Finance and Economics
1. Tuniu’s net income in the first quarter was 63.2 million yuan, with a net loss of 7.5 million yuan
According to news on June 9, Tuniu Tourism released its results for the first quarter of 2023. The report shows that Tuniu’s net income in the first quarter was 63.2 million yuan, a year-on-year increase of 52.3%; its net loss was 7.5 million yuan, and the net loss in the same period in 2022 was 41.7 million yuan, which has been greatly reduced.
2. NIO’s revenue in the first quarter was 10.68 billion yuan, a year-on-year increase of 7.7%, lower than market expectations
According to news on June 9, NIO’s Q1 revenue in 2023 will be 10.68 billion yuan, a year-on-year increase of 7.7%, and the market expects 11.63 billion yuan. In the first quarter, Weilai’s gross profit margin was 1.5%, compared with 14.6% in the same period last year, and 3.9% in the fourth quarter of 2022; the gross profit rate of automobiles was 5.1%, compared with 18.1% in the same period last year, and 6.8% in the fourth quarter of 2022. In the first quarter, R&D expenditure was 3.08 billion yuan, a year-on-year increase of 74.6%; cash reserves were 37.8 billion yuan.
In addition, revenue in the second quarter is expected to be between 8.742 billion and 9.37 billion yuan, a year-on-year decrease of approximately 9.0%-15.1%. It is estimated that the number of vehicle deliveries in the second quarter will be between 23,000 and 25,000, a year-on-year decrease of approximately 8.2% to 0.2%. Automotive gross margin in the first quarter of 2023 was 5.1%, compared to 18.1% in the first quarter of 2022 and 6.8% in the fourth quarter of 2022.
3. R&F Properties: The total sales revenue in May was regarding 1.54 billion yuan, a year-on-year decrease of 62.3%
According to the news on June 9, R&F Properties announced that the total sales revenue of the group in May was approximately RMB 1.54 billion, a year-on-year decrease of 62.3%, and the sales area reached approximately 122,100 square meters.
4. Mihayou’s 2022 revenue will be 27.34 billion yuan, with a net profit of 16.145 billion yuan
According to news on June 9, Mihayou’s main business income in 2022 will be 27.34 billion yuan, and its net profit will be 16.145 billion yuan. By the end of 2022, its net assets will have reached 37.402 billion yuan. (Guangming Daily)
3. Major business events
1. Jiang Jianqi, chairman of Xiangpiaopiao, responded to the recent frequent reduction of holdings: in order to introduce strategic investors
According to news on June 9, recently, Jiang Jianqi, the real controller and chairman of Xiangpiaopiao, has frequently reduced his shareholding in the company. According to Xiang Piao Piao’s announcement, on May 15 and May 23, Jiang Jianqi reduced his holdings by 1 million shares and 2.995 million shares respectively through block transactions. According to the official website of the Shanghai Stock Exchange, Jiang Jianqi reduced his holdings by 1.1 million shares through block trading on June 6. Why did Jiang Jianqi want to reduce the shareholding in a large scale at this time? On June 9, Jiang Jianqi responded: “The purpose is to introduce a strategic investor.” (Every Classic)
2. “Zhanyin Department” cleared the first stock of AI chips, and made 400 million investment in 4 years
According to news on June 12, Cambrian, the “first AI chip stock”, announced that Nanjing CMB and Hubei CMB have reduced their holdings of 3.1146 million shares and 1.5395 million shares respectively since February this year. After the shareholding reduction is completed, the two shareholders no longer hold Cambrian shares. It is reported that the controlling shareholders of the general partner and executive partner of CMB Nanjing and CMB Hubei are CMB International Capital Management (Shenzhen), which is a subsidiary of CMB International. The direct investment of the “China Merchants Bank” in the Cambrian began in September 2019 and entered the stage of holding reduction at the end of 2020. After deducting the initial investment cost of 1.2 billion yuan, the project finally realized an investment income of nearly 400 million yuan, with a total investment yield of regarding 32.3%.
3. Ningde Times disclosed the latest progress in the field of fast charging: charging takes less than 10 minutes, and the battery life exceeds 400 kilometers
According to news on June 10, Wu Kai, Chief Scientist of Ningde Times New Energy Technology Co., Ltd. shared Ningde Times’ latest development in the field of fast charging at the 2023 Power Battery Conference. He revealed that this year, the fast charging effect of a model of a certain customer of Ningde Times will be achieved. It takes less than 10 minutes to charge and the battery life exceeds 400 kilometers.
4. Huawei Yu Chengdong said that in 2030, the main players of Chinese car companies may be less than 5
On June 9, Yu Chengdong, CEO of Huawei’s smart car solution BU, said at the 2023 China Automobile Chongqing Forum that new energy vehicles will account for nearly 100% of new car sales in 2030. At the same time, there will be fewer and fewer auto companies under competition, and perhaps the number of major players in the Chinese market will be less than five. In addition, he believes that L4 autonomous driving can be achieved in 2030. Huawei will strive to commercialize L3 autonomous driving in 2025. (Shell Finance)
4. Changes in corporate organization and personnel
1. Pien Tze Huang: Mr. Liu Congsheng resigned as director and deputy general manager
On June 9th, Pien Tze Huang announced that Mr. Liu Congsheng resigned from the company’s board of directors and deputy general manager due to personal reasons.
2. It is reported that Chen Duye, the vice president of marketing of the huge engine, was transferred to the head of Douyin’s entertainment business
According to news on June 9, Chen Duye, who is the vice president of marketing of Juyou Engine, has transferred to Douyin to be in charge of Douyin’s entertainment business. (Tech Planet)
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