The Zhitong Finance App learned that CITIC Securities released a research report stating that it will maintain the Ideal Automobile-W (02015) “buy” rating, consider 22Q4 sales, and adjust the 2022-24 sales forecast to 133/30/650,000 units. The FY2022-24 non-GAAP net profit forecast was -71/1,69/12.5 billion, respectively. The bank continues to be optimistic about Ideal Auto. In the future, as the penetration rate of smart cars in China increases, the company is expected to continue to benefit from its leading edge in the fields of EREV, BEV, autonomous driving, and smart cockpits.
According to the report, the company sold 15,000 vehicles in January 2023 (+23% year on year, -29% month on month), in line with market expectations. Looking ahead, the company's new model L7 is scheduled to be released in February 23, delivery began in March 23, and product development is progressing smoothly; L8 production capacity climbs smoothly. The company revealed that the price bands of the L6 and L5 models of the next two models will drop to less than 200,000 yuan. The bank expects the company's product sales to increase sequentially in February-March. At the same time, judgment: With the launch of L8/L7 cost-effective products, the company's extended program product matrix has been further enriched, which is expected to drive a further increase in product market share in the future.