Following the price increase of its models by many new car manufacturers such as Xiaopeng automobile, ideal automobile, Nezha automobile and Zero run automobile, Weilai, who is also in the new car camp, has not adjusted the product price for a long time.
Compared with the recent collective price increase of mainstream new energy vehicle enterprises, Weilai's practice belongs to the "minority".
On March 25, Li Bin, founder and chairman of Weilai, officially responded to the views on the price rise of raw materials upstream of power batteries and the company's Countermeasures in the fourth quarter and annual financial report teleconference of Weilai 2021.
Li Bin said that at present, Weilai has no idea of raising the price of products. Next, we will see whether the pricing policy is adjusted according to the market situation. In his view, there are more speculative factors in the recent price rise of lithium carbonate, and there is not such a big gap between supply and demandP align = "center" the price rise of raw materials has a negative impact on gross profit p align = "center" there is no plan to increase the price in the short term
On March 25, Wei Lai (NiO. N / 9866. HK) released its fourth quarter and full year financial results. According to the financial report, the company's revenue in the fourth quarter was 9.9 billion yuan, a year-on-year increase of 49.1%; The net loss was 2.143 billion yuan, an increase of 54.4% year-on-year. The annual revenue was 36.14 billion yuan, a year-on-year increase of 122.3%; The net loss was 4.02 billion yuan, a year-on-year decrease of 24.3%.
It is noteworthy that under the pressure of the continuous growth of raw material prices in the upstream of power batteries and the shortage of chips, Weilai still maintains the steady increase of automobile gross profit margin. In the fourth quarter of 2021, the automobile gross profit margin was 20.9%, up 3.6 percentage points year-on-year and 2.9 percentage points month on month respectively, and the annual automobile gross profit margin was 20.1%.
Li Bin said that Weilai began to use ternary iron lithium battery in the fourth quarter of last year. The cost advantage is helpful to improve the gross profit of the car, and the improvement of sales volume also plays a role in sharing the cost.
However, Li Bin also revealed that the rise of power batteries and bulk commodities had a negative impact on gross profit. Considering the price increase of raw materials, the annual vehicle gross profit target is set at 18% - 20%.
Since this year, the price of upstream raw materials of power batteries has continued to rise, and relevant battery enterprises have raised the price of products. Recently, insiders of new energy vehicle enterprises disclosed to the securities times that since the second half of last year, the price of Contemporary Amperex Technology Co.Limited(300750) power batteries has increased twice, and power batteries of other brands are also eager to increase the price.
Not long ago, Li Xiang, founder and chairman of ideal automobile, said on his personal microblog that at present, the brands that have contracted with battery manufacturers to determine the price increase range of batteries in the second quarter have basically announced the price increase immediately. For those that have not yet increased the price, most of them have not been negotiated.
It can be seen that the price increase behavior of most car enterprises is basically linked with the battery price increase. According to the incomplete statistics of the reporter of the securities times, up to now, more than 20 auto enterprises, including Tesla, Xiaopeng automobile, ideal automobile, Nezha automobile, Zero run automobile, Weima automobile, gac-e'an, Byd Company Limited(002594) , Euler, SAIC GM Wuling, extremely krypton, geometry automobile and lantu automobile, have raised the prices of their products, ranging from several thousand yuan to ten thousand yuan.
Li Bin said that Weilai has no idea of raising the price at present. Next, it will see whether the pricing policy is adjusted according to the market situation.
In view of the recent soaring price of lithium carbonate, Li Bin said: "we have conducted in-depth research on all upstream links and believe that there are more speculative factors for the current price rise of lithium carbonate, and there is not such a big gap between supply and demand. Recently, we have also seen the competent departments such as the Ministry of industry and information technology coordinating the price mechanism. We call on upstream lithium mines, lithium salts and other manufacturers to proceed from the long-term interests and not artificially create price rises, which is not a good thing for the industry."Call for the return of lithium industry department
Since this year, the quotation of some lithium batteries has continued to rise. According to wind data, as of March 25, the quotation of battery grade lithium carbonate was 503000 yuan / ton; The quotation of lithium hydroxide is 491500 yuan / ton; The price of electrolytic cobalt is 566500 yuan / ton, which has increased significantly compared with the same period last year.
According to the analysis of bank securities, the improvement of the terminal price of electric vehicles will further test the competitiveness of products. In addition, those car enterprises with cost control advantages and abundant cash flow will benefit significantly at this stage, and the competitive pattern of the electric vehicle industry will be further divided.
Recently, in view of the rise in the price of raw materials for power batteries, the Department of raw materials industry of the Ministry of industry and information technology and the first Department of equipment industry of the Ministry of industry and information technology, together with the price department of the development and Reform Commission, the price supervision and inspection Bureau of the State Administration of market supervision and the Anti Unfair Competition Bureau, jointly held a symposium on the operation of the lithium industry and the rise in the price of upstream materials for power batteries.
The meeting required that upstream and downstream enterprises in the industrial chain should strengthen the connection between supply and demand, work together to form a long-term and stable strategic cooperative relationship, jointly guide the rational return of lithium salt price, strengthen efforts to ensure market supply, and better support the healthy development of strategic emerging industries such as Shanxi Guoxin Energy Corporation Limited(600617) automobile.
Not long ago, Chen Shihua, Deputy Secretary General of China Automobile Industry Association, also said in an interview with the media that the current round of unconventional rise in raw material prices deviated from the normal relationship between supply and demand and belonged to irrational rise. In order to seize the last window period before the expansion of lithium production capacity, the speculation party hoarded and deliberately bid up prices.
Chen Shihua said that since this year, car companies have been forced to raise product prices, which directly affected consumers' purchase confidence and adversely affected the steady growth of the whole year. However, in the long run, through the efforts of all parties, the problem of rapid rise in raw material prices will be improved, and the price of power batteries will return to rationality. It is suggested that car enterprises should stabilize their footing.
