On August 11, Weilai automobile (NYSE: NiO), the head player of the new car making force, handed in the “report card” of the second quarter of 2020, which is also known as the best second quarter report in history. According to the financial report, the total revenue of Weilai automobile in the second quarter was 3.72 billion yuan, up 146.5% year-on-year and 171.1% month on month, exceeding previous expectations. The net loss attributable to common shareholders of Weilai automobile was 1.21 billion yuan, down 63.6% year-on-year and 29.9% month on month. < p > < p > in the financial report conference call held at 8:00 p.m., the reporter of China Business News learned that Feng Wei, chief financial officer of Weilai automobile, said that the automobile sales revenue in the second quarter was 3.49 billion yuan, accounting for 94% of the total revenue, with a year-on-year increase of 146.5%. The main reason is that the delivery of ES6 started in mid June 2019, and the delivery volume increased significantly compared with the same period last year. < / P > < p > other sales revenue was 232.8 million yuan, with a year-on-year increase of 147.7%, mainly due to the increase in service pack and energy pack subscription, as well as the increase in household charging pile installation and accessories sales revenue, which is consistent with the increase in automobile sales in the second quarter of 2020. The gross profit rate of < 4.9% was the first time that the gross profit rate of automobile sales was less than 4.9%. < p > < p > as early as in the teleconference of 2019 annual report, Li Bin, founder and CEO of Weilai, once said that increasing gross profit rate is one of the core objectives of Weilai automobile in 2020. The optimization of supply chain, the continuous reduction of battery pack cost, the increase of production scale and the decrease of average vehicle manufacturing cost caused by management optimization are confident that the gross profit rate will become normal in the second quarter, and the gross profit rate at the end of the year will reach 2 The target number of digits. < p > < p > with regard to the normalization of gross profit rate in the second quarter of 2020, Li Bin said in a teleconference: “with the leap of quarterly delivery, the increase of single vehicle revenue, the decrease of purchasing cost of battery pack and other materials, and the improvement of manufacturing cost, the company’s gross profit margin has made a major breakthrough in the second quarter, with the gross profit rate of 9.7% for the whole vehicle and 9.7% for the comprehensive gross profit rate 8.4%, much higher than the previous 5% and 3% expectations. ” < p > < p > data shows that the delivery volume of Weilai in the second quarter was 10331, compared with 3553 in the same period of last year, with a year-on-year increase of 190.8%, which is the second highest monthly delivery volume in history. Among them, 2263 vehicles were delivered by es8 and 8068 vehicles were delivered by ES6. The increase of delivery also increased the cost of sales. The sales cost of Weilai in the second quarter was 3.41 billion yuan, up 69.2% year on year. For the gross profit performance of the above two models, Qu Yu, vice president of finance of Weilai automobile, said that the gross profit of es8 was greater than that of ES6. Li Bin said bluntly: “next we will continue to increase the gross profit rate. We are very confident that the gross profit rate of the whole vehicle and the comprehensive gross profit rate will both exceed 10% in the second half of this year.” Moreover, the operating loss of Weilai automobile in the second quarter also narrowed to 1.16 billion yuan, down 64.0% year-on-year and 26.1% month on month. According to the financial report, Weilai has a large cash reserve of 11.16 billion yuan, providing long-term guarantee for core technology research and development and user service. In terms of research and development of new products, Li Bin disclosed that the company has accelerated the development progress of new products, and the electric sedan ec6, which was launched on July 24, is also promoting mass production as planned and is expected to start delivery in late September. < / P > < p > “the demand for capacity improvement is very strong,” said Li Bin, who will reach the full supply chain capacity of 4500-5000 vehicles per shift in a single month by the end of August and the beginning of September. “In the third quarter, we are confident that quarterly deliveries will reach another record high, reaching 11000 to 11500 vehicles.” < p > < p > in fact, since February this year, Weilai has continuously obtained financing. First, it has successively issued several convertible bonds to a number of unrelated Asian investment funds, with a total financing amount of 435 million US dollars. After that, it signed a 10 billion yuan strategic investment agreement with Hefei government, and obtained 10 billion level comprehensive credit from six banks in July this year. Affected by the results of the second quarter, Weilai rose by more than 11% before trading on August 11, but by the end of the local time, the share price of Weilai fell by 8.59%, with a quoted price of US $12.99 per share and a total market value of US $15.4 billion.