CALB expects its net income to rise about 80 percent to 100 percent in 2024 from 2023 on the back of growth in business scale and lower costs.
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Category: Earnings Preview
CATL's net income in the fourth quarter is expected to be a record RMB 17 billion, up 31.01 percent year-on-year and up 29.41 percent from the third quarter, CnEVPost calculations show.
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Great Wall Motor's net income in 2024 is expected to range from RMB 12.4 billion ($1.7 billion) to RMB 13.0 billion, an increase of 76.60 percent to 85.14 percent from 2023.
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Leapmotor attributes this to continued volume growth, product mix optimization, cost control and operational efficiency.
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Wall Street expects Nio's revenue to be RMB 17.385 billion in the second quarter, exceeding the upper end of the EV maker's guidance range as deliveries unexpectedly beat guidance.
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Focus will mostly be on the gross margin, and Nio management's guidance for first-quarter deliveries are expected to be weak.
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Nio still needs to get its strategic direction sorted out before it can expect to turn profitable in the foreseeable future, particularly for its second brand, Alps, analysts at CMB International said.
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Lithium producers including Ganfeng and Tianqi expect their net profits in 2023 to be much lower than in 2022, with the common reason being a sharp drop in lithium prices.
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The earnings preview implies CATL returned to net profit growth in the fourth quarter, after seeing a sequential decline in the third quarter.
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BYD's average profit per vehicle fell by about RMB 1,400 in the fourth quarter from the third quarter, mainly due to promotions through discounts and incentives offered to dealers, a team of analysts said.
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