CATL reported revenue of RMB 79.77 billion in the first quarter, a new low since the second quarter of 2022.
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Category: Earnings
A heated price war in China's NEV sector late last year and incentives offered by BYD to dealers may have dragged down profits.
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Xpeng delivered solid fourth-quarter earnings although the guidance came in soft, said Deutsche Bank.
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Xpeng reported total revenues of RMB 13.05 billion ($1.84 billion) in the fourth quarter of 2023, an increase of 153.9 percent from the same period in 2022 and 53.0 percent from the third quarter of 2023.
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CATL has 32.67 percent of its revenue coming from overseas in 2023, up from 23.41 percent in 2022, as it begins deliveries to foreign customers.
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Nio reported mixed fourth-quarter results while providing a better than feared first-quarter outlook, said Deutsche Bank.
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Nio reported a net loss of RMB 5.37 billion in the fourth quarter, down 7.2 percent from the fourth quarter of 2022 and up 17.8 percent from the third quarter of 2023.
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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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Li Auto reported strong fourth-quarter results and provided a better-than-expected outlook for first-quarter sales, Deutsche Bank said.
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Li Auto management said they expect to see deliveries top 50,000 in March and 70,000 in June.
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