NIO: Time For Massive Growth

Seeking Alpha2022-06-13

SummaryResults pressured by China covid lockdowns.Production set to soar in coming quarters.Street sees stock doubling from current level.Late last week, one of the weaker names in the market was ...

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Cheryi
2022-06-14
Cheryi
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中概真菜
2022-06-13
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Investors focused on weaker than expected guidance for Q2, but it was already known that the situation in China was going to pressure results for the period. The most important part of last week's earnings report was management's commentary on upcoming production plans, which showed that massive growth is finally about to come.For Q1, revenues came in at $1.56 billion, which was up more than 24% year over year, and came in a little ahead of estimates. One of my main issues with NIO is that it usually reports results so late in the quarter that these numbers seem basically irrelevant, since we're almost done with Q2 already. On the bottom line, non-GAAP earnings per ADS beat by three cents, but this is still a company that's losing plenty of money at this time.The main reason for shares dropping after Thursday's report was the following headline - management guided to between $1.47 billion and $1.59 billion in revenues for the second quarter. Wall Street had anticipated second quarter revenue to reach $1.79 billion. Deliveries are expected to be in a range of 23,000 to 25,000, with even the high end of that being a sequential decline from Q1's 25,768 units. As a reminder, Q2 is the first full quarter for deliveries of the ET7 sedan, which saw just 163 deliveries late in Q1.I'm pretty much discounting this guidance miss, just because the analyst average seemed so ridiculous going into last week's report. NIO had already reported its April and May delivery numbers, which were heavily pressured by China's covid lockdowns. Even though we knew June would be better, supply chain issues are still a problem, so to think revenues were going to jump over $200 million sequentially seemed highly questionable. Management is basically guiding for a monthly record in terms of June vehicle deliveries, and yet it is still likely to fall a bit short of Q1's quarterly total. I think analysts were just waiting to see what was reported and then adjust, but the result was a headline of very weak guidance.NIO investors have been waiting for several quarters now to see production really ramp up. It has been over a year now since the company announceda new production agreementwith its partner JAC to double factory output to 240,000 units a year. Still, though, the company hasn't been able to report even 26,000 deliveries in a single quarter. The company is also in the process of building out its own facility called NeoPark. Duringthe conference call, management provided this key update regarding production, with \"F2\" referring to NeoPark:For the production capacity of our first plant with JAC-NIO, as we have mentioned, we will continue to ramp up its production capacity in Q3. I think probably at least in the second half of the year, our overall plant capacity should reach 20,000 units per month. It can be -- it's not probably too hard for us to see when.And then for the F2's ramp-up pace, actually, first, we will kick off the delivery of ET5 from this plant in Q3. So it will start production in Q3 and that we try to reach 10,000 units within quite a short period, probably three, four months. I think that's our plan.Of course, next year, as we introduce more models into this factory, the overall production volume of F2 will continue to rise.It remains to be seen how quickly NIO will actually reach these rates. As I'vedetailed in the past, the company's growth timelines haven't worked out as some may have hoped. All it takes is some more supply chain issues or another round of covid lockdowns, and these production rates won't be seen until sometime in 2023. This kind of tremendous growth in units is expected to drive a major surge in NIO revenues, with analyst estimates shown below.NIO Revenue Estimates(Seeking Alpha)This significant expected revenue growth in the next 12-18 months is a main reason why theaverage price targeton the street is double what NIO shares closed at on Friday. The valuation seems quite reasonable currently, with the stock going for 1.9 times expected 2023 sales, as opposed to fellow Chinese EV names like XPeng (XPEV) going for 2.1 times and Li Auto (LI) at 2.2 times. Of course, EV giant Tesla (TSLA) trades for over 6.2 times projected sales for next year, as investors are certainly willing to pay a lot more for that name.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[{"id":680522646,"gmtCreate":1655168344387,"gmtModify":1704861317707,"author":{"id":"3568940106394782","authorId":"3568940106394782","name":"Cheryi","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":11,"crmLevelSwitch":0,"authorIdStr":"3568940106394782","idStr":"3568940106394782"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/680522646","repostId":1138793205,"repostType":4,"repost":{"id":"1138793205","kind":"news","pubTimestamp":1655134386,"share":"https://www.laohu8.com/m/news/1138793205?lang=zh_CN&edition=full","pubTime":"2022-06-13 23:33","market":"hk","language":"en","title":"NIO: Time For Massive Growth<blockquote>蔚来：大规模增长的时候到了</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1138793205","media":"Seeking Alpha","summary":"SummaryResults pressured by China covid lockdowns.Production set to soar in coming quarters.Street sees stock doubling from current level.Late last week, one of the weaker names in the market was Chin","content":"<html><head></head><body>Summary<blockquote><html><head></head><body>总结</body></html></blockquote><ul><li>Results pressured by China covid lockdowns.</li><li>Production set to soar in coming quarters.</li><li>Street sees stock doubling from current level.</li></ul>Late last week, one of the weaker names in the market was Chinese electric vehicle maker NIO (NYSE:NIO), after the company reported itsfirst quarter results. Investors focused on weaker than expected guidance for Q2, but it was already known that the situation in China was going to pressure results for the period. The most important part of last week&#39;s earnings report was management&#39;s commentary on upcoming production plans, which showed that massive growth is finally about to come.<blockquote><ul><li>中国新冠疫情封锁给业绩带来压力。</li><li>未来几个季度产量将飙升。</li><li>Street预计股价将比当前水平翻倍。</li></ul>上周晚些时候，中国电动汽车制造商蔚来（纽约证券交易所股票代码：蔚来）公布了第一季度业绩，成为市场上表现较弱的公司之一。投资者关注的是第二季度弱于预期的指引，但众所周知，中国的情况将给该期间的业绩带来压力。上周财报中最重要的部分是管理层对即将到来的生产计划的评论，这表明大规模增长终于即将到来。</blockquote>For Q1, revenues came in at $1.56 billion, which was up more than 24% year over year, and came in a little ahead of estimates. One of my main issues with NIO is that it usually reports results so late in the quarter that these numbers seem basically irrelevant, since we&#39;re almost done with Q2 already. On the bottom line, non-GAAP earnings per ADS beat by three cents, but this is still a company that&#39;s losing plenty of money at this time.<blockquote>第一季度收入为15.6亿美元，同比增长超过24%，略高于预期。我对蔚来的主要问题之一是，它通常在本季度很晚才报告业绩，以至于这些数字似乎基本上无关紧要，因为我们已经几乎完成了第二季度的工作。从底线来看，非公认会计准则每股美国存托凭证收益超出了3美分，但这仍然是一家目前亏损大量资金的公司。</blockquote>The main reason for shares dropping after Thursday&#39;s report was the following headline - management guided to between $1.47 billion and $1.59 billion in revenues for the second quarter. Wall Street had anticipated second quarter revenue to reach $1.79 billion. Deliveries are expected to be in a range of 23,000 to 25,000, with even the high end of that being a sequential decline from Q1&#39;s 25,768 units. As a reminder, Q2 is the first full quarter for deliveries of the ET7 sedan, which saw just 163 deliveries late in Q1.<blockquote>周四报告发布后股价下跌的主要原因是以下头条新闻——管理层预计第二季度收入在14.7亿美元至15.9亿美元之间。华尔街此前预计第二季度营收将达到17.9亿美元。交付量预计在23,000至25,000辆之间，即使是高端也较第一季度的25,768辆环比下降。提醒一下，第二季度是ET7轿车交付的第一个完整季度，第一季度末仅交付了163辆。</blockquote>I&#39;m pretty much discounting this guidance miss, just because the analyst average seemed so ridiculous going into last week&#39;s report. NIO had already reported its April and May delivery numbers, which were heavily pressured by China&#39;s covid lockdowns. Even though we knew June would be better, supply chain issues are still a problem, so to think revenues were going to jump over $200 million sequentially seemed highly questionable. Management is basically guiding for a monthly record in terms of June vehicle deliveries, and yet it is still likely to fall a bit short of Q1&#39;s quarterly total. I think analysts were just waiting to see what was reported and then adjust, but the result was a headline of very weak guidance.<blockquote>我几乎不考虑这一指引失误，只是因为分析师的平均水平在上周的报告中显得如此荒谬。蔚来已经公布了4月和5月的交付数据，这些数据受到中国新冠疫情封锁的沉重压力。尽管我们知道6月份会更好，但供应链问题仍然是一个问题，因此认为收入会连续超过2亿美元似乎非常值得怀疑。管理层基本上指导6月份车辆交付量创下月度纪录，但仍可能略低于第一季度的季度总量。我认为分析师只是在等着看报告的内容，然后进行调整，但结果是一个非常弱的指导的标题。</blockquote>NIO investors have been waiting for several quarters now to see production really ramp up. It has been over a year now since the company announceda new production agreementwith its partner JAC to double factory output to 240,000 units a year. Still, though, the company hasn&#39;t been able to report even 26,000 deliveries in a single quarter. The company is also in the process of building out its own facility called NeoPark. Duringthe conference call, management provided this key update regarding production, with &#34;F2&#34; referring to NeoPark:<blockquote>蔚来投资者已经等待了几个季度，希望看到产量真正增加。自该公司宣布与其合作伙伴江淮汽车达成新的生产协议，将工厂产量翻一番，达到每年24万辆以来，已经过去了一年多。尽管如此，该公司仍未能报告单季度交付量达26,000辆。该公司还在建设自己的设施，名为NeoPark。在电话会议期间，管理层提供了有关生产的关键更新，其中“F2”指的是NeoPark：</blockquote>For the production capacity of our first plant with JAC-NIO, as we have mentioned, we will continue to ramp up its production capacity in Q3. I think probably at least in the second half of the year, our overall plant capacity should reach 20,000 units per month. It can be -- it&#39;s not probably too hard for us to see when.And then for the F2&#39;s ramp-up pace, actually, first, we will kick off the delivery of ET5 from this plant in Q3. So it will start production in Q3 and that we try to reach 10,000 units within quite a short period, probably three, four months. I think that&#39;s our plan.Of course, next year, as we introduce more models into this factory, the overall production volume of F2 will continue to rise.It remains to be seen how quickly NIO will actually reach these rates. As I&#39;vedetailed in the past, the company&#39;s growth timelines haven&#39;t worked out as some may have hoped. All it takes is some more supply chain issues or another round of covid lockdowns, and these production rates won&#39;t be seen until sometime in 2023. This kind of tremendous growth in units is expected to drive a major surge in NIO revenues, with analyst estimates shown below.<blockquote>对于我们与江淮蔚来合作的第一家工厂的产能，正如我们所提到的，我们将在第三季度继续提高其产能。我想大概至少在下半年，我们的整个工厂产能应该达到每月2万台。可能是——对我们来说可能不难看出什么时候。然后对于F2的加速步伐，实际上，首先，我们将在第三季度开始从该工厂交付ET5。因此，它将在第三季度开始生产，我们试图在相当短的时间内（可能是三、四个月）达到10,000辆。我想这就是我们的计划。当然，明年随着我们把更多的车型引入这个工厂，F2的整体生产量还会继续上升。蔚来实际达到这些比率的速度还有待观察。正如我过去详细介绍的那样，该公司的增长时间表并没有像一些人希望的那样顺利。所需要的只是更多的供应链问题或另一轮新冠疫情封锁，而这些生产率要到2023年的某个时候才能看到。这种单位的巨大增长预计将推动蔚来收入大幅增长，分析师的估计如下所示。</blockquote><img src=\"https://static.tigerbbs.com/4e17e14941758d428fd4219d8740bb4d\" tg-width=\"640\" tg-height=\"264\" referrerpolicy=\"no-referrer\"/><blockquote></blockquote>NIO Revenue Estimates(Seeking Alpha)<blockquote>蔚来收入预测(Seeking Alpha)</blockquote>This significant expected revenue growth in the next 12-18 months is a main reason why theaverage price targeton the street is double what NIO shares closed at on Friday. The valuation seems quite reasonable currently, with the stock going for 1.9 times expected 2023 sales, as opposed to fellow Chinese EV names like XPeng (XPEV) going for 2.1 times and Li Auto (LI) at 2.2 times. Of course, EV giant Tesla (TSLA) trades for over 6.2 times projected sales for next year, as investors are certainly willing to pay a lot more for that name.<blockquote>未来12-18个月的预期收入显着增长是华尔街平均目标价是蔚来股价周五收盘价两倍的主要原因。目前估值似乎相当合理，该股2023年预期销量的1.9倍，而小鹏汽车(XPEV)和理想汽车(LI)等中国电动汽车公司的估值分别为2.1倍和2.2倍。当然，电动汽车巨头特斯拉(TSLA)明年预计销售额的6.2倍以上，因为投资者肯定愿意为这个名字支付更多费用。</blockquote></body></html><blockquote></blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO: Time For Massive Growth<blockquote>蔚来：大规模增长的时候到了</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO: Time For Massive Growth<blockquote>蔚来：大规模增长的时候到了</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nSeeking Alpha2022-06-13 23:33\n\n</h4>\n</header>\n<article>\n<html><head></head><body>Summary<blockquote><html><head></head><body>总结</body></html></blockquote><ul><li>Results pressured by China covid lockdowns.</li><li>Production set to soar in coming quarters.</li><li>Street sees stock doubling from current level.</li></ul>Late last week, one of the weaker names in the market was Chinese electric vehicle maker NIO (NYSE:NIO), after the company reported itsfirst quarter results. Investors focused on weaker than expected guidance for Q2, but it was already known that the situation in China was going to pressure results for the period. The most important part of last week&#39;s earnings report was management&#39;s commentary on upcoming production plans, which showed that massive growth is finally about to come.<blockquote><ul><li>中国新冠疫情封锁给业绩带来压力。</li><li>未来几个季度产量将飙升。</li><li>Street预计股价将比当前水平翻倍。</li></ul>上周晚些时候，中国电动汽车制造商蔚来（纽约证券交易所股票代码：蔚来）公布了第一季度业绩，成为市场上表现较弱的公司之一。投资者关注的是第二季度弱于预期的指引，但众所周知，中国的情况将给该期间的业绩带来压力。上周财报中最重要的部分是管理层对即将到来的生产计划的评论，这表明大规模增长终于即将到来。</blockquote>For Q1, revenues came in at $1.56 billion, which was up more than 24% year over year, and came in a little ahead of estimates. One of my main issues with NIO is that it usually reports results so late in the quarter that these numbers seem basically irrelevant, since we&#39;re almost done with Q2 already. On the bottom line, non-GAAP earnings per ADS beat by three cents, but this is still a company that&#39;s losing plenty of money at this time.<blockquote>第一季度收入为15.6亿美元，同比增长超过24%，略高于预期。我对蔚来的主要问题之一是，它通常在本季度很晚才报告业绩，以至于这些数字似乎基本上无关紧要，因为我们已经几乎完成了第二季度的工作。从底线来看，非公认会计准则每股美国存托凭证收益超出了3美分，但这仍然是一家目前亏损大量资金的公司。</blockquote>The main reason for shares dropping after Thursday&#39;s report was the following headline - management guided to between $1.47 billion and $1.59 billion in revenues for the second quarter. Wall Street had anticipated second quarter revenue to reach $1.79 billion. Deliveries are expected to be in a range of 23,000 to 25,000, with even the high end of that being a sequential decline from Q1&#39;s 25,768 units. As a reminder, Q2 is the first full quarter for deliveries of the ET7 sedan, which saw just 163 deliveries late in Q1.<blockquote>周四报告发布后股价下跌的主要原因是以下头条新闻——管理层预计第二季度收入在14.7亿美元至15.9亿美元之间。华尔街此前预计第二季度营收将达到17.9亿美元。交付量预计在23,000至25,000辆之间，即使是高端也较第一季度的25,768辆环比下降。提醒一下，第二季度是ET7轿车交付的第一个完整季度，第一季度末仅交付了163辆。</blockquote>I&#39;m pretty much discounting this guidance miss, just because the analyst average seemed so ridiculous going into last week&#39;s report. NIO had already reported its April and May delivery numbers, which were heavily pressured by China&#39;s covid lockdowns. Even though we knew June would be better, supply chain issues are still a problem, so to think revenues were going to jump over $200 million sequentially seemed highly questionable. Management is basically guiding for a monthly record in terms of June vehicle deliveries, and yet it is still likely to fall a bit short of Q1&#39;s quarterly total. I think analysts were just waiting to see what was reported and then adjust, but the result was a headline of very weak guidance.<blockquote>我几乎不考虑这一指引失误，只是因为分析师的平均水平在上周的报告中显得如此荒谬。蔚来已经公布了4月和5月的交付数据，这些数据受到中国新冠疫情封锁的沉重压力。尽管我们知道6月份会更好，但供应链问题仍然是一个问题，因此认为收入会连续超过2亿美元似乎非常值得怀疑。管理层基本上指导6月份车辆交付量创下月度纪录，但仍可能略低于第一季度的季度总量。我认为分析师只是在等着看报告的内容，然后进行调整，但结果是一个非常弱的指导的标题。</blockquote>NIO investors have been waiting for several quarters now to see production really ramp up. It has been over a year now since the company announceda new production agreementwith its partner JAC to double factory output to 240,000 units a year. Still, though, the company hasn&#39;t been able to report even 26,000 deliveries in a single quarter. The company is also in the process of building out its own facility called NeoPark. Duringthe conference call, management provided this key update regarding production, with &#34;F2&#34; referring to NeoPark:<blockquote>蔚来投资者已经等待了几个季度，希望看到产量真正增加。自该公司宣布与其合作伙伴江淮汽车达成新的生产协议，将工厂产量翻一番，达到每年24万辆以来，已经过去了一年多。尽管如此，该公司仍未能报告单季度交付量达26,000辆。该公司还在建设自己的设施，名为NeoPark。在电话会议期间，管理层提供了有关生产的关键更新，其中“F2”指的是NeoPark：</blockquote>For the production capacity of our first plant with JAC-NIO, as we have mentioned, we will continue to ramp up its production capacity in Q3. I think probably at least in the second half of the year, our overall plant capacity should reach 20,000 units per month. It can be -- it&#39;s not probably too hard for us to see when.And then for the F2&#39;s ramp-up pace, actually, first, we will kick off the delivery of ET5 from this plant in Q3. So it will start production in Q3 and that we try to reach 10,000 units within quite a short period, probably three, four months. I think that&#39;s our plan.Of course, next year, as we introduce more models into this factory, the overall production volume of F2 will continue to rise.It remains to be seen how quickly NIO will actually reach these rates. As I&#39;vedetailed in the past, the company&#39;s growth timelines haven&#39;t worked out as some may have hoped. All it takes is some more supply chain issues or another round of covid lockdowns, and these production rates won&#39;t be seen until sometime in 2023. This kind of tremendous growth in units is expected to drive a major surge in NIO revenues, with analyst estimates shown below.<blockquote>对于我们与江淮蔚来合作的第一家工厂的产能，正如我们所提到的，我们将在第三季度继续提高其产能。我想大概至少在下半年，我们的整个工厂产能应该达到每月2万台。可能是——对我们来说可能不难看出什么时候。然后对于F2的加速步伐，实际上，首先，我们将在第三季度开始从该工厂交付ET5。因此，它将在第三季度开始生产，我们试图在相当短的时间内（可能是三、四个月）达到10,000辆。我想这就是我们的计划。当然，明年随着我们把更多的车型引入这个工厂，F2的整体生产量还会继续上升。蔚来实际达到这些比率的速度还有待观察。正如我过去详细介绍的那样，该公司的增长时间表并没有像一些人希望的那样顺利。所需要的只是更多的供应链问题或另一轮新冠疫情封锁，而这些生产率要到2023年的某个时候才能看到。这种单位的巨大增长预计将推动蔚来收入大幅增长，分析师的估计如下所示。</blockquote><img src=\"https://static.tigerbbs.com/4e17e14941758d428fd4219d8740bb4d\" tg-width=\"640\" tg-height=\"264\" referrerpolicy=\"no-referrer\"/><blockquote></blockquote>NIO Revenue Estimates(Seeking Alpha)<blockquote>蔚来收入预测(Seeking Alpha)</blockquote>This significant expected revenue growth in the next 12-18 months is a main reason why theaverage price targeton the street is double what NIO shares closed at on Friday. The valuation seems quite reasonable currently, with the stock going for 1.9 times expected 2023 sales, as opposed to fellow Chinese EV names like XPeng (XPEV) going for 2.1 times and Li Auto (LI) at 2.2 times. Of course, EV giant Tesla (TSLA) trades for over 6.2 times projected sales for next year, as investors are certainly willing to pay a lot more for that name.<blockquote>未来12-18个月的预期收入显着增长是华尔街平均目标价是蔚来股价周五收盘价两倍的主要原因。目前估值似乎相当合理，该股2023年预期销量的1.9倍，而小鹏汽车(XPEV)和理想汽车(LI)等中国电动汽车公司的估值分别为2.1倍和2.2倍。当然，电动汽车巨头特斯拉(TSLA)明年预计销售额的6.2倍以上，因为投资者肯定愿意为这个名字支付更多费用。</blockquote></body></html><blockquote></blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://seekingalpha.com/article/4518041-nio-stock-time-for-massive-growth\">Seeking Alpha</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09866":"蔚来-SW","NIO":"蔚来","NIO.SI":"蔚来"},"source_url":"https://seekingalpha.com/article/4518041-nio-stock-time-for-massive-growth","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1138793205","content_text":"SummaryResults pressured by China covid lockdowns.Production set to soar in coming quarters.Street sees stock doubling from current level.Late last week, one of the weaker names in the market was Chinese electric vehicle maker NIO (NYSE:NIO), after the company reported itsfirst quarter results. Investors focused on weaker than expected guidance for Q2, but it was already known that the situation in China was going to pressure results for the period. The most important part of last week's earnings report was management's commentary on upcoming production plans, which showed that massive growth is finally about to come.For Q1, revenues came in at $1.56 billion, which was up more than 24% year over year, and came in a little ahead of estimates. One of my main issues with NIO is that it usually reports results so late in the quarter that these numbers seem basically irrelevant, since we're almost done with Q2 already. On the bottom line, non-GAAP earnings per ADS beat by three cents, but this is still a company that's losing plenty of money at this time.The main reason for shares dropping after Thursday's report was the following headline - management guided to between $1.47 billion and $1.59 billion in revenues for the second quarter. Wall Street had anticipated second quarter revenue to reach $1.79 billion. Deliveries are expected to be in a range of 23,000 to 25,000, with even the high end of that being a sequential decline from Q1's 25,768 units. As a reminder, Q2 is the first full quarter for deliveries of the ET7 sedan, which saw just 163 deliveries late in Q1.I'm pretty much discounting this guidance miss, just because the analyst average seemed so ridiculous going into last week's report. NIO had already reported its April and May delivery numbers, which were heavily pressured by China's covid lockdowns. Even though we knew June would be better, supply chain issues are still a problem, so to think revenues were going to jump over $200 million sequentially seemed highly questionable. Management is basically guiding for a monthly record in terms of June vehicle deliveries, and yet it is still likely to fall a bit short of Q1's quarterly total. I think analysts were just waiting to see what was reported and then adjust, but the result was a headline of very weak guidance.NIO investors have been waiting for several quarters now to see production really ramp up. It has been over a year now since the company announceda new production agreementwith its partner JAC to double factory output to 240,000 units a year. Still, though, the company hasn't been able to report even 26,000 deliveries in a single quarter. The company is also in the process of building out its own facility called NeoPark. Duringthe conference call, management provided this key update regarding production, with \"F2\" referring to NeoPark:For the production capacity of our first plant with JAC-NIO, as we have mentioned, we will continue to ramp up its production capacity in Q3. I think probably at least in the second half of the year, our overall plant capacity should reach 20,000 units per month. It can be -- it's not probably too hard for us to see when.And then for the F2's ramp-up pace, actually, first, we will kick off the delivery of ET5 from this plant in Q3. So it will start production in Q3 and that we try to reach 10,000 units within quite a short period, probably three, four months. I think that's our plan.Of course, next year, as we introduce more models into this factory, the overall production volume of F2 will continue to rise.It remains to be seen how quickly NIO will actually reach these rates. As I'vedetailed in the past, the company's growth timelines haven't worked out as some may have hoped. All it takes is some more supply chain issues or another round of covid lockdowns, and these production rates won't be seen until sometime in 2023. This kind of tremendous growth in units is expected to drive a major surge in NIO revenues, with analyst estimates shown below.NIO Revenue Estimates(Seeking Alpha)This significant expected revenue growth in the next 12-18 months is a main reason why theaverage price targeton the street is double what NIO shares closed at on Friday. The valuation seems quite reasonable currently, with the stock going for 1.9 times expected 2023 sales, as opposed to fellow Chinese EV names like XPeng (XPEV) going for 2.1 times and Li Auto (LI) at 2.2 times. Of course, EV giant Tesla (TSLA) trades for over 6.2 times projected sales for next year, as investors are certainly willing to pay a lot more for that name.","news_type":1,"symbols_score_info":{"09866":0.9,"NIO.SI":0.9,"NIO":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":7474719,"gmtCreate":1655168355937,"gmtModify":1655168356731,"authorId":3568940106394782,"author":{"id":3568940106394782,"idStr":"3568940106394782","authorId":3568940106394782,"name":"Cheryi","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":680522646,"type":1,"supId":0,"prevId":0,"content":"ok","text":"ok","html":"ok"}],"langContent":"CN"},{"id":680512134,"gmtCreate":1655134625531,"gmtModify":1704861265768,"author":{"id":"3554867136518344","authorId":"3554867136518344","name":"中概真菜","avatar":"https://static.tigerbbs.com/1f7dccfcc467b75f262180ffc02da6c0","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3554867136518344","idStr":"3554867136518344"},"htmlText":"鬼信你","listText":"鬼信你","text":"鬼信你","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/680512134","repostId":1138793205,"repostType":2,"repost":{"id":"1138793205","kind":"news","pubTimestamp":1655134386,"share":"https://www.laohu8.com/m/news/1138793205?lang=zh_CN&edition=full","pubTime":"2022-06-13 23:33","market":"hk","language":"en","title":"NIO: Time For Massive Growth<blockquote>蔚来：大规模增长的时候到了</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1138793205","media":"Seeking Alpha","summary":"SummaryResults pressured by China covid lockdowns.Production set to soar in coming quarters.Street sees stock doubling from current level.Late last week, one of the weaker names in the market was Chin","content":"<html><head></head><body>Summary<blockquote><html><head></head><body>总结</body></html></blockquote><ul><li>Results pressured by China covid lockdowns.</li><li>Production set to soar in coming quarters.</li><li>Street sees stock doubling from current level.</li></ul>Late last week, one of the weaker names in the market was Chinese electric vehicle maker NIO (NYSE:NIO), after the company reported itsfirst quarter results. Investors focused on weaker than expected guidance for Q2, but it was already known that the situation in China was going to pressure results for the period. The most important part of last week&#39;s earnings report was management&#39;s commentary on upcoming production plans, which showed that massive growth is finally about to come.<blockquote><ul><li>中国新冠疫情封锁给业绩带来压力。</li><li>未来几个季度产量将飙升。</li><li>Street预计股价将比当前水平翻倍。</li></ul>上周晚些时候，中国电动汽车制造商蔚来（纽约证券交易所股票代码：蔚来）公布了第一季度业绩，成为市场上表现较弱的公司之一。投资者关注的是第二季度弱于预期的指引，但众所周知，中国的情况将给该期间的业绩带来压力。上周财报中最重要的部分是管理层对即将到来的生产计划的评论，这表明大规模增长终于即将到来。</blockquote>For Q1, revenues came in at $1.56 billion, which was up more than 24% year over year, and came in a little ahead of estimates. One of my main issues with NIO is that it usually reports results so late in the quarter that these numbers seem basically irrelevant, since we&#39;re almost done with Q2 already. On the bottom line, non-GAAP earnings per ADS beat by three cents, but this is still a company that&#39;s losing plenty of money at this time.<blockquote>第一季度收入为15.6亿美元，同比增长超过24%，略高于预期。我对蔚来的主要问题之一是，它通常在本季度很晚才报告业绩，以至于这些数字似乎基本上无关紧要，因为我们已经几乎完成了第二季度的工作。从底线来看，非公认会计准则每股美国存托凭证收益超出了3美分，但这仍然是一家目前亏损大量资金的公司。</blockquote>The main reason for shares dropping after Thursday&#39;s report was the following headline - management guided to between $1.47 billion and $1.59 billion in revenues for the second quarter. Wall Street had anticipated second quarter revenue to reach $1.79 billion. Deliveries are expected to be in a range of 23,000 to 25,000, with even the high end of that being a sequential decline from Q1&#39;s 25,768 units. As a reminder, Q2 is the first full quarter for deliveries of the ET7 sedan, which saw just 163 deliveries late in Q1.<blockquote>周四报告发布后股价下跌的主要原因是以下头条新闻——管理层预计第二季度收入在14.7亿美元至15.9亿美元之间。华尔街此前预计第二季度营收将达到17.9亿美元。交付量预计在23,000至25,000辆之间，即使是高端也较第一季度的25,768辆环比下降。提醒一下，第二季度是ET7轿车交付的第一个完整季度，第一季度末仅交付了163辆。</blockquote>I&#39;m pretty much discounting this guidance miss, just because the analyst average seemed so ridiculous going into last week&#39;s report. NIO had already reported its April and May delivery numbers, which were heavily pressured by China&#39;s covid lockdowns. Even though we knew June would be better, supply chain issues are still a problem, so to think revenues were going to jump over $200 million sequentially seemed highly questionable. Management is basically guiding for a monthly record in terms of June vehicle deliveries, and yet it is still likely to fall a bit short of Q1&#39;s quarterly total. I think analysts were just waiting to see what was reported and then adjust, but the result was a headline of very weak guidance.<blockquote>我几乎不考虑这一指引失误，只是因为分析师的平均水平在上周的报告中显得如此荒谬。蔚来已经公布了4月和5月的交付数据，这些数据受到中国新冠疫情封锁的沉重压力。尽管我们知道6月份会更好，但供应链问题仍然是一个问题，因此认为收入会连续超过2亿美元似乎非常值得怀疑。管理层基本上指导6月份车辆交付量创下月度纪录，但仍可能略低于第一季度的季度总量。我认为分析师只是在等着看报告的内容，然后进行调整，但结果是一个非常弱的指导的标题。</blockquote>NIO investors have been waiting for several quarters now to see production really ramp up. It has been over a year now since the company announceda new production agreementwith its partner JAC to double factory output to 240,000 units a year. Still, though, the company hasn&#39;t been able to report even 26,000 deliveries in a single quarter. The company is also in the process of building out its own facility called NeoPark. Duringthe conference call, management provided this key update regarding production, with &#34;F2&#34; referring to NeoPark:<blockquote>蔚来投资者已经等待了几个季度，希望看到产量真正增加。自该公司宣布与其合作伙伴江淮汽车达成新的生产协议，将工厂产量翻一番，达到每年24万辆以来，已经过去了一年多。尽管如此，该公司仍未能报告单季度交付量达26,000辆。该公司还在建设自己的设施，名为NeoPark。在电话会议期间，管理层提供了有关生产的关键更新，其中“F2”指的是NeoPark：</blockquote>For the production capacity of our first plant with JAC-NIO, as we have mentioned, we will continue to ramp up its production capacity in Q3. I think probably at least in the second half of the year, our overall plant capacity should reach 20,000 units per month. It can be -- it&#39;s not probably too hard for us to see when.And then for the F2&#39;s ramp-up pace, actually, first, we will kick off the delivery of ET5 from this plant in Q3. So it will start production in Q3 and that we try to reach 10,000 units within quite a short period, probably three, four months. I think that&#39;s our plan.Of course, next year, as we introduce more models into this factory, the overall production volume of F2 will continue to rise.It remains to be seen how quickly NIO will actually reach these rates. As I&#39;vedetailed in the past, the company&#39;s growth timelines haven&#39;t worked out as some may have hoped. All it takes is some more supply chain issues or another round of covid lockdowns, and these production rates won&#39;t be seen until sometime in 2023. This kind of tremendous growth in units is expected to drive a major surge in NIO revenues, with analyst estimates shown below.<blockquote>对于我们与江淮蔚来合作的第一家工厂的产能，正如我们所提到的，我们将在第三季度继续提高其产能。我想大概至少在下半年，我们的整个工厂产能应该达到每月2万台。可能是——对我们来说可能不难看出什么时候。然后对于F2的加速步伐，实际上，首先，我们将在第三季度开始从该工厂交付ET5。因此，它将在第三季度开始生产，我们试图在相当短的时间内（可能是三、四个月）达到10,000辆。我想这就是我们的计划。当然，明年随着我们把更多的车型引入这个工厂，F2的整体生产量还会继续上升。蔚来实际达到这些比率的速度还有待观察。正如我过去详细介绍的那样，该公司的增长时间表并没有像一些人希望的那样顺利。所需要的只是更多的供应链问题或另一轮新冠疫情封锁，而这些生产率要到2023年的某个时候才能看到。这种单位的巨大增长预计将推动蔚来收入大幅增长，分析师的估计如下所示。</blockquote><img src=\"https://static.tigerbbs.com/4e17e14941758d428fd4219d8740bb4d\" tg-width=\"640\" tg-height=\"264\" referrerpolicy=\"no-referrer\"/><blockquote></blockquote>NIO Revenue Estimates(Seeking Alpha)<blockquote>蔚来收入预测(Seeking Alpha)</blockquote>This significant expected revenue growth in the next 12-18 months is a main reason why theaverage price targeton the street is double what NIO shares closed at on Friday. The valuation seems quite reasonable currently, with the stock going for 1.9 times expected 2023 sales, as opposed to fellow Chinese EV names like XPeng (XPEV) going for 2.1 times and Li Auto (LI) at 2.2 times. Of course, EV giant Tesla (TSLA) trades for over 6.2 times projected sales for next year, as investors are certainly willing to pay a lot more for that name.<blockquote>未来12-18个月的预期收入显着增长是华尔街平均目标价是蔚来股价周五收盘价两倍的主要原因。目前估值似乎相当合理，该股2023年预期销量的1.9倍，而小鹏汽车(XPEV)和理想汽车(LI)等中国电动汽车公司的估值分别为2.1倍和2.2倍。当然，电动汽车巨头特斯拉(TSLA)明年预计销售额的6.2倍以上，因为投资者肯定愿意为这个名字支付更多费用。</blockquote></body></html><blockquote></blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO: Time For Massive Growth<blockquote>蔚来：大规模增长的时候到了</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO: Time For Massive Growth<blockquote>蔚来：大规模增长的时候到了</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nSeeking Alpha2022-06-13 23:33\n\n</h4>\n</header>\n<article>\n<html><head></head><body>Summary<blockquote><html><head></head><body>总结</body></html></blockquote><ul><li>Results pressured by China covid lockdowns.</li><li>Production set to soar in coming quarters.</li><li>Street sees stock doubling from current level.</li></ul>Late last week, one of the weaker names in the market was Chinese electric vehicle maker NIO (NYSE:NIO), after the company reported itsfirst quarter results. Investors focused on weaker than expected guidance for Q2, but it was already known that the situation in China was going to pressure results for the period. The most important part of last week&#39;s earnings report was management&#39;s commentary on upcoming production plans, which showed that massive growth is finally about to come.<blockquote><ul><li>中国新冠疫情封锁给业绩带来压力。</li><li>未来几个季度产量将飙升。</li><li>Street预计股价将比当前水平翻倍。</li></ul>上周晚些时候，中国电动汽车制造商蔚来（纽约证券交易所股票代码：蔚来）公布了第一季度业绩，成为市场上表现较弱的公司之一。投资者关注的是第二季度弱于预期的指引，但众所周知，中国的情况将给该期间的业绩带来压力。上周财报中最重要的部分是管理层对即将到来的生产计划的评论，这表明大规模增长终于即将到来。</blockquote>For Q1, revenues came in at $1.56 billion, which was up more than 24% year over year, and came in a little ahead of estimates. One of my main issues with NIO is that it usually reports results so late in the quarter that these numbers seem basically irrelevant, since we&#39;re almost done with Q2 already. On the bottom line, non-GAAP earnings per ADS beat by three cents, but this is still a company that&#39;s losing plenty of money at this time.<blockquote>第一季度收入为15.6亿美元，同比增长超过24%，略高于预期。我对蔚来的主要问题之一是，它通常在本季度很晚才报告业绩，以至于这些数字似乎基本上无关紧要，因为我们已经几乎完成了第二季度的工作。从底线来看，非公认会计准则每股美国存托凭证收益超出了3美分，但这仍然是一家目前亏损大量资金的公司。</blockquote>The main reason for shares dropping after Thursday&#39;s report was the following headline - management guided to between $1.47 billion and $1.59 billion in revenues for the second quarter. Wall Street had anticipated second quarter revenue to reach $1.79 billion. Deliveries are expected to be in a range of 23,000 to 25,000, with even the high end of that being a sequential decline from Q1&#39;s 25,768 units. As a reminder, Q2 is the first full quarter for deliveries of the ET7 sedan, which saw just 163 deliveries late in Q1.<blockquote>周四报告发布后股价下跌的主要原因是以下头条新闻——管理层预计第二季度收入在14.7亿美元至15.9亿美元之间。华尔街此前预计第二季度营收将达到17.9亿美元。交付量预计在23,000至25,000辆之间，即使是高端也较第一季度的25,768辆环比下降。提醒一下，第二季度是ET7轿车交付的第一个完整季度，第一季度末仅交付了163辆。</blockquote>I&#39;m pretty much discounting this guidance miss, just because the analyst average seemed so ridiculous going into last week&#39;s report. NIO had already reported its April and May delivery numbers, which were heavily pressured by China&#39;s covid lockdowns. Even though we knew June would be better, supply chain issues are still a problem, so to think revenues were going to jump over $200 million sequentially seemed highly questionable. Management is basically guiding for a monthly record in terms of June vehicle deliveries, and yet it is still likely to fall a bit short of Q1&#39;s quarterly total. I think analysts were just waiting to see what was reported and then adjust, but the result was a headline of very weak guidance.<blockquote>我几乎不考虑这一指引失误，只是因为分析师的平均水平在上周的报告中显得如此荒谬。蔚来已经公布了4月和5月的交付数据，这些数据受到中国新冠疫情封锁的沉重压力。尽管我们知道6月份会更好，但供应链问题仍然是一个问题，因此认为收入会连续超过2亿美元似乎非常值得怀疑。管理层基本上指导6月份车辆交付量创下月度纪录，但仍可能略低于第一季度的季度总量。我认为分析师只是在等着看报告的内容，然后进行调整，但结果是一个非常弱的指导的标题。</blockquote>NIO investors have been waiting for several quarters now to see production really ramp up. It has been over a year now since the company announceda new production agreementwith its partner JAC to double factory output to 240,000 units a year. Still, though, the company hasn&#39;t been able to report even 26,000 deliveries in a single quarter. The company is also in the process of building out its own facility called NeoPark. Duringthe conference call, management provided this key update regarding production, with &#34;F2&#34; referring to NeoPark:<blockquote>蔚来投资者已经等待了几个季度，希望看到产量真正增加。自该公司宣布与其合作伙伴江淮汽车达成新的生产协议，将工厂产量翻一番，达到每年24万辆以来，已经过去了一年多。尽管如此，该公司仍未能报告单季度交付量达26,000辆。该公司还在建设自己的设施，名为NeoPark。在电话会议期间，管理层提供了有关生产的关键更新，其中“F2”指的是NeoPark：</blockquote>For the production capacity of our first plant with JAC-NIO, as we have mentioned, we will continue to ramp up its production capacity in Q3. I think probably at least in the second half of the year, our overall plant capacity should reach 20,000 units per month. It can be -- it&#39;s not probably too hard for us to see when.And then for the F2&#39;s ramp-up pace, actually, first, we will kick off the delivery of ET5 from this plant in Q3. So it will start production in Q3 and that we try to reach 10,000 units within quite a short period, probably three, four months. I think that&#39;s our plan.Of course, next year, as we introduce more models into this factory, the overall production volume of F2 will continue to rise.It remains to be seen how quickly NIO will actually reach these rates. As I&#39;vedetailed in the past, the company&#39;s growth timelines haven&#39;t worked out as some may have hoped. All it takes is some more supply chain issues or another round of covid lockdowns, and these production rates won&#39;t be seen until sometime in 2023. This kind of tremendous growth in units is expected to drive a major surge in NIO revenues, with analyst estimates shown below.<blockquote>对于我们与江淮蔚来合作的第一家工厂的产能，正如我们所提到的，我们将在第三季度继续提高其产能。我想大概至少在下半年，我们的整个工厂产能应该达到每月2万台。可能是——对我们来说可能不难看出什么时候。然后对于F2的加速步伐，实际上，首先，我们将在第三季度开始从该工厂交付ET5。因此，它将在第三季度开始生产，我们试图在相当短的时间内（可能是三、四个月）达到10,000辆。我想这就是我们的计划。当然，明年随着我们把更多的车型引入这个工厂，F2的整体生产量还会继续上升。蔚来实际达到这些比率的速度还有待观察。正如我过去详细介绍的那样，该公司的增长时间表并没有像一些人希望的那样顺利。所需要的只是更多的供应链问题或另一轮新冠疫情封锁，而这些生产率要到2023年的某个时候才能看到。这种单位的巨大增长预计将推动蔚来收入大幅增长，分析师的估计如下所示。</blockquote><img src=\"https://static.tigerbbs.com/4e17e14941758d428fd4219d8740bb4d\" tg-width=\"640\" tg-height=\"264\" referrerpolicy=\"no-referrer\"/><blockquote></blockquote>NIO Revenue Estimates(Seeking Alpha)<blockquote>蔚来收入预测(Seeking Alpha)</blockquote>This significant expected revenue growth in the next 12-18 months is a main reason why theaverage price targeton the street is double what NIO shares closed at on Friday. The valuation seems quite reasonable currently, with the stock going for 1.9 times expected 2023 sales, as opposed to fellow Chinese EV names like XPeng (XPEV) going for 2.1 times and Li Auto (LI) at 2.2 times. Of course, EV giant Tesla (TSLA) trades for over 6.2 times projected sales for next year, as investors are certainly willing to pay a lot more for that name.<blockquote>未来12-18个月的预期收入显着增长是华尔街平均目标价是蔚来股价周五收盘价两倍的主要原因。目前估值似乎相当合理，该股2023年预期销量的1.9倍，而小鹏汽车(XPEV)和理想汽车(LI)等中国电动汽车公司的估值分别为2.1倍和2.2倍。当然，电动汽车巨头特斯拉(TSLA)明年预计销售额的6.2倍以上，因为投资者肯定愿意为这个名字支付更多费用。</blockquote></body></html><blockquote></blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://seekingalpha.com/article/4518041-nio-stock-time-for-massive-growth\">Seeking Alpha</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09866":"蔚来-SW","NIO":"蔚来","NIO.SI":"蔚来"},"source_url":"https://seekingalpha.com/article/4518041-nio-stock-time-for-massive-growth","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1138793205","content_text":"SummaryResults pressured by China covid lockdowns.Production set to soar in coming quarters.Street sees stock doubling from current level.Late last week, one of the weaker names in the market was Chinese electric vehicle maker NIO (NYSE:NIO), after the company reported itsfirst quarter results. Investors focused on weaker than expected guidance for Q2, but it was already known that the situation in China was going to pressure results for the period. The most important part of last week's earnings report was management's commentary on upcoming production plans, which showed that massive growth is finally about to come.For Q1, revenues came in at $1.56 billion, which was up more than 24% year over year, and came in a little ahead of estimates. One of my main issues with NIO is that it usually reports results so late in the quarter that these numbers seem basically irrelevant, since we're almost done with Q2 already. On the bottom line, non-GAAP earnings per ADS beat by three cents, but this is still a company that's losing plenty of money at this time.The main reason for shares dropping after Thursday's report was the following headline - management guided to between $1.47 billion and $1.59 billion in revenues for the second quarter. Wall Street had anticipated second quarter revenue to reach $1.79 billion. Deliveries are expected to be in a range of 23,000 to 25,000, with even the high end of that being a sequential decline from Q1's 25,768 units. As a reminder, Q2 is the first full quarter for deliveries of the ET7 sedan, which saw just 163 deliveries late in Q1.I'm pretty much discounting this guidance miss, just because the analyst average seemed so ridiculous going into last week's report. NIO had already reported its April and May delivery numbers, which were heavily pressured by China's covid lockdowns. Even though we knew June would be better, supply chain issues are still a problem, so to think revenues were going to jump over $200 million sequentially seemed highly questionable. Management is basically guiding for a monthly record in terms of June vehicle deliveries, and yet it is still likely to fall a bit short of Q1's quarterly total. I think analysts were just waiting to see what was reported and then adjust, but the result was a headline of very weak guidance.NIO investors have been waiting for several quarters now to see production really ramp up. It has been over a year now since the company announceda new production agreementwith its partner JAC to double factory output to 240,000 units a year. Still, though, the company hasn't been able to report even 26,000 deliveries in a single quarter. The company is also in the process of building out its own facility called NeoPark. Duringthe conference call, management provided this key update regarding production, with \"F2\" referring to NeoPark:For the production capacity of our first plant with JAC-NIO, as we have mentioned, we will continue to ramp up its production capacity in Q3. I think probably at least in the second half of the year, our overall plant capacity should reach 20,000 units per month. It can be -- it's not probably too hard for us to see when.And then for the F2's ramp-up pace, actually, first, we will kick off the delivery of ET5 from this plant in Q3. So it will start production in Q3 and that we try to reach 10,000 units within quite a short period, probably three, four months. I think that's our plan.Of course, next year, as we introduce more models into this factory, the overall production volume of F2 will continue to rise.It remains to be seen how quickly NIO will actually reach these rates. As I'vedetailed in the past, the company's growth timelines haven't worked out as some may have hoped. All it takes is some more supply chain issues or another round of covid lockdowns, and these production rates won't be seen until sometime in 2023. This kind of tremendous growth in units is expected to drive a major surge in NIO revenues, with analyst estimates shown below.NIO Revenue Estimates(Seeking Alpha)This significant expected revenue growth in the next 12-18 months is a main reason why theaverage price targeton the street is double what NIO shares closed at on Friday. The valuation seems quite reasonable currently, with the stock going for 1.9 times expected 2023 sales, as opposed to fellow Chinese EV names like XPeng (XPEV) going for 2.1 times and Li Auto (LI) at 2.2 times. Of course, EV giant Tesla (TSLA) trades for over 6.2 times projected sales for next year, as investors are certainly willing to pay a lot more for that name.","news_type":1,"symbols_score_info":{"09866":0.9,"NIO.SI":0.9,"NIO":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":6,"commentSize":2,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.35.11","shortVersion":"4.35.11","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1138793205","isCrawlerRequest":true}