Shulou(Shulou.com)12/24 Report--

CTOnews.com December 5 news, Weilai today announced the third quarter earnings report, Weilai Q3 revenue 19.0666 billion yuan, the same period last year 13 billion yuan, market expectations for 19.373 billion yuan.

At the Q3 earnings call, Li Bin, chairman of Weilai, answered the motivation for acquiring Jianghuai factory assets to obtain independent production qualification."From the manufacturing point of view, if we manufacture completely by ourselves, the manufacturing cost will drop by 10%," he said.

In today's earnings report, Weilai announced that it had spent 3.16 billion yuan to acquire some manufacturing equipment and assets of Anhui Jianghuai Automobile Group Co., Ltd.("Jianghuai Automobile"), which is consistent with the previous Jianghuai Automobile announcement.

As of CTOnews.com, Weilai shares had risen 3.01% to $7.54 a share.

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