中国电动汽车制造商蔚来有限公司在周二开盘前发布其2020财年第二季度财报。这家年轻的初创公司渴望成为下一个特斯拉，并引起了对中国国内电动汽车行业的热议。

迄今为止，蔚来汽车的股价已飙升244％，其中分别在五天与一个月内上涨了13％和20％。由腾讯支持的汽车制造商不再缺乏资金，在截至6月的连续三个月中均创下了记录。早前有报道称7月份的交付量将增长300％以上（使其2020年的总量达到17,702辆），蔚来汽车与此密不可分，尤其是当中国汽车行业7月的销售数字预计将实现双倍增长。

日本汽车制造商的强劲业绩证明了这一点，并且根据中国汽车工业协会的早期预测，7月份中国汽车销量可能增长15％，达到200万辆以上。这将是连续四个月增长。这种趋势将使仅在中国销售其汽车的中国电动汽车制造商蔚来汽车受益。尽管如此，除了业绩突破之外，蔚来汽车在周二还需要展示交付前景乐观的行动纲领，并简述其实现盈利与避免股票跌停的方法。

在截至6月的三个月中，华尔街预计蔚来汽车每股将亏损26美分，营收达5.0439亿美元。去年同期该公司每股亏损44美分，营收为2.1556亿美元。截至1月份的一年，亏损从一年前的每股1.50美元缩小至每股90美分，而全年收入为19.5亿美元，同比增长74％。

蔚来汽车成立于2014年。毫无疑问，鉴于我们从特斯拉中所看到的发展轨迹和生产困难，蔚来汽车在发展道路上面临着众多挑战。但是与特斯拉一样，蔚来汽车的高风险状况有一天可以得到丰厚的回报。因此，蔚来汽车在强劲销售势头的推动下，截至2020年已取得了几个关键的里程碑。中国政府已经采取了旨在提高其消费者对电动汽车使用率的政策，这也将帮助到蔚来汽车的发展。

作为其十五年计划草案的一部分，该计划包括减少对石油的依赖的目标，北京设定了一个雄心勃勃的目标，即到2025年电动汽车将占年度新轻型汽车销量的25％。蔚来汽车很可能从中受益，获得大量订单并实现交付增长。该公司报告7月份汽车交付量为3,533辆，同比增长322.1％。其中包括2,610辆有5个座位的高性能高智能电动SUV ES6，以及923辆ES8。

此外，该公司认为可以提高产能以支持大量需求。尽管这对于蔚来汽车来说是个利好消息，但也存在关于成本上升的反论调。与特斯拉一样，对蔚来汽车持怀疑态度的人士继续指出，该公司在生产的每辆汽车上都蒙受损失。截至第一季度，蔚来汽车的毛利率保持在负7％左右。因此，该公司必须展示其控制生产成本的计划。 

Chinese electric carmaker Nio Limited (NIO) will release its second quarter fiscal 2020 earnings result before the opening bell Tuesday. Vying to become the next Tesla (TSLA), the young startup has created tons of buzz about the domestic Chinese electric vehicle (EV) industry.

NIO stock has skyrocketed 244% year to date, including 13% and 20% gains in the respective five days and one month. No longer cash-strapped, the Tencent (TCEHY)-backed automaker has reported records in three consecutive months through June. And with early reports of more-than 300% rise in July deliveries (which would bring its 2020 total to 17,702), it would be a mistake to part with Nio ahead of these results, particularly when China’s auto industry is expected to post double-digit sales gain in July.

Evidenced by the strong results from Japanese automakers, and based on an early projections from the CAAM, China auto sales in July could rise 15% to more than 2 million vehicles. That would make four months in a row of growth. This trend would seem to benefit Chinese electric vehicle maker Nio which sells its vehicles exclusively in China. Still, aside from a top- and bottom-line beat, Nio on Tuesday will need to provide upbeat delivery guidance and outline ways it will achieve profitability to keep it’s stock from screeching to halt.

For the three months that ended June, Wall Street expects Nio to report a per-share loss of 26 cents on revenue of $504.39 million. This compares to the year-ago quarter when it reported a per-share loss of 44 cents on revenue of $215.56 million. For the full year, ending January, the loss is expected to narrow from $1.50 per share a year ago to 90 cents per share, while full-year revenue of $1.95 billion will rise 74% year over year.

Founded in 2014, there’s no question that Nio has tons of challenges on its growth path, given the trajectory and production struggles we’ve seen from Tesla. But as with Tesla, Nio’s high risk profile can one day pay off handsomely. In that vein, Nio has so far achieved several critical milestones in 2020, boosted by its strong sales momentum. And it also helps Nio that the Chinese government has embraced policies aiming to increase the adoption of EVs among its consumers.

As part of its fifteen-year draft plan, which includes targets to reduce its huge dependency on oil, Beijing set an aggressive goal for for EVs to account for 25% of annual new light-vehicle sales by 2025. These policies would seem to benefit Nio which has enjoyed strong order and delivery growth. The company reported 3,533 vehicle deliveries for July, marking growth of 322.1% year-over-year. The total consisted of 2,610 of its 5-seater high-performance premium smart electric SUV ES6 and 923 deliveries of its ES8s.

What’s more, the company believes it can boost its production capacity to support demand. While that’s good news for Nio, there’s also the counter-argument about rising costs. Nio skeptics, as with those of Tesla, continue to point out that the fact that the company loses money on every car it manufactures. As of the first quarter, Nio’s vehicle gross margin remains at around -7%. As such, the company on Tuesday must demonstrate plans to significantly get production costs under control.

(Source: www.nasdaq.com)

每天获取干货知识，请查找微信公众号"宏业上市通"关注，也可以扫下方二维码关注，您的关注是我们持续前行动力！

宏业金融集团

中国企业境外上市专业服务平台

宏业金融集团是一家国际金融咨询服务企业。在国内主营企业财务咨询、融资辅导、企业孵化、境外上市辅导服务等企业金融服务业务，在深圳、香港、马来西亚、美国设有办事处。宏业金融集团依托专业的咨询团队、丰富的辅导经验、广泛的社会关系、国际化的合作资源，通过一体化专业服务，为中国企业提供上市辅导服务。 是一家中国企业境外上市专业服务平台。

地址：深圳市罗湖区京基一百大厦A座4805

电话：86-0755-82334963

Add：Rm. 4805, Blk. A, Kingkey 100, Luohu Dist.,  Shenzhen, Guangdong Prov., China

Tel：86-0755-82334963

Web : www.hongyeconsulting.com