Jinwu Financial News | Dongwu Securities released a research report stating that Ideal Auto (02015), the fourth mid-range extended-range SUV Ideal L6, was officially launched, offering two max/pro configurations. The price of the new car was 24.98/279,800 yuan (RMB, same below), and the pricing was basically in line with expectations. Ideal Family Genealogy Design has further declined, and it is expected that the ideal market share of 200,000 yuan or more will be further stabilized.
According to the bank, the company continues to promote the construction of high-speed and intra-city overcharging networks and fast charging networks to better solve the mileage anxiety problem of MEGA and H2 pure electric products; in an intelligent dimension, the company continues to optimize and iterate NOA pilot assistance functions throughout the road, and better improve software algorithm capabilities through large-scale model empowerment and continuous data collection. The dual dimensions of intelligence and electricity enable the new car cycle, and the company's sales volume is expected to continue to grow.
According to the bank, it basically maintains Ideal Auto's profit forecast for 2024-2025, with net profit attributable to mother of RMB 143/24.9 billion yuan respectively, and predicting 2026 revenue/net profit to mother of 3640/31.7 billion yuan respectively. The corresponding EPS for 2024 to 2026 will be 6.75/11.74/14.96 yuan respectively, and the corresponding PE will be 16/9/7 times, respectively, maintaining Ideal Auto's “buy” rating.