[Headline announcement Nuggets]
Zero Sports Auto (09863): Third-quarter revenue of 5.656 billion yuan increased 31.9% year-on-year
According to the Zhitong Finance App, Zero Sports Auto announced that revenue for the third quarter of 2023 was RMB 5.656 billion, up 31.9% from RMB 4.288 billion in the same period in 2022, and 29.4% from RMB 4.371 billion in the second quarter of 2023. The year-on-year increase was mainly due to an increase in average sales prices brought about by an increase in sales volume and an improvement in the sales model structure; the month-on-month increase was mainly due to an increase in sales volume.
Comment:The biggest change in the company is that gross margin changed to 1.2% for the first time in the third quarter, -5.2% in the second quarter of this year, and -8.9% in the same period last year. The reason is that the structure is improving. For example, the C-series delivery volume of 150,000 yuan to 200,000 yuan soared, the C11 delivery volume was 27,378 vehicles (including additional procedures), an increase of 58.6% over the previous year; the C01 delivery volume was 8,325 vehicles (including additional programs), an increase of 1384% over the previous year. The improvement in gross margin meant that the company was one step closer to its profit target. The current main models all achieve a pure electric+extended range “dual power” layout, which meets the diverse and multi-scene vehicle needs of a wider range of people. The LEAP3.0 architecture and C10, the first global model, were unveiled at the Munich Motor Show. In the next 2 years, 5 global products will be sold simultaneously in Europe, Asia Pacific, the Middle East, and America. With the steady increase in sales volume, Zero Sport is now able to exert a large-scale effect and has a competitive cost advantage. In addition to exporting vehicles or building overseas factories, we seek a cooperative model through exporting technology to the international market. As a provider of comprehensive solutions, it is also expected to open up a second growth curve for Zero Run.
[Key Announcements Nuggets]
MONGOL MINING (00975): Sales of 1,7471,000 tons of washed coking coal products in the third quarter increased 17% year-on-year
According to Zhitong Financial App, MONGOL MINING announced that in the third quarter of 2023, the group sold a total of 1,7471 million tons of washed coking coal products. Compared with the same period in 2022, the year-on-year increase was 17%, and compared with the previous quarter ended June 30, 2023, an increase of 11% over the previous quarter ended June 30, 2023.
Comment:According to Mysteel, under the impetus of rising market prices, coking coal prices in Shanxi increased again in the fourth quarter compared to the third quarter, and various types of coal showed a general increase. The first reason for the increase is that coking coal production has declined due to safety incidents in coal mines. Second, due to container turnover, Mongolian coal customs clearance volume declined last week. Looking at the demand side, downstream production is currently highly motivated, demand for raw materials has increased, traders, coal washing plants, and other intermediaries enter the market to pick up goods, and the market transaction atmosphere is good. Next, pay attention to the winter coal replenishment market. At the same time, overseas demand is strong, and India's centralized procurement has made the Australian coal price trend strong, boosting domestic coal prices. Furthermore, the second round of attempts to raise coke has begun, and the prospects for the industry are promising. On the production capacity side, as of September 30, 2023, the sales volume of washed coking coal products delivered by the Group to customers had reached 4.928,400 tons; the Group's raw coal mining volume was 3.5093 million tons, an increase of 83% over the previous year. A double increase in price and production capacity raised performance expectations.
[List of important Hong Kong stock announcements]