Ideal car's first-quarter revenue of 18.79 billion yuan increased by 96% over the same period last year, with quarterly revenue and delivery reaching an all-time high.

Thanks to the CTOnews.com netizen Mr. Air, artist Li Dading for the clue delivery! CTOnews.com May 10 news, ideal Automobile today announced the first quarter of 2023 results, quarterly revenue and delivery are both at an all-time high.

CTOnews.com learned from the official that ideal car's revenue in the first quarter was 18.79 billion yuan, an increase of 96.5% over the same period last year, with an estimate of 18.68 billion yuan. Ideal said its first-quarter NON-GAAP net profit was 1.41 billion yuan, up 196% from a year earlier. The delivery volume of ideal cars in the first quarter was 52600, an increase of 65.8% over the same period last year, with an estimated 53400, achieving the best results in a single quarter.

Ideal expects second-quarter revenue of 24.22 billion yuan to 25.86 billion yuan, a year-on-year increase of 177.4-196.1%. Ideal said it expected to deliver 76000-81000 vehicles in the second quarter, an increase of 164.9-182.4% over the same period last year.

Driven by strong delivery volume, a number of financial data hit historic highs. Excluding equity incentives, operating profit and net profit reached 890 million yuan and 1.41 billion yuan respectively, and free cash flow reached 6.7 billion yuan. Gross profit margin remained stable at 20.4% in the first quarter.