Hualong Net News (Qi Che) On April 29th, Cyrus (601127.SH) released the first quarterly report of 2024 and the annual report of 2023. The data shows that in the first quarter of 2024, Cyrus’ revenue was 26.561 billion yuan, a year-on-year increase of 421.76%; The net profit attributable to shareholders of listed companies was 220 million yuan, and the gross profit margin in the first quarter increased to 21.5%.
In 2023, the revenue reached 35.842 billion yuan, of which the revenue of new energy vehicles reached 28.948 billion yuan, up 16.10% year-on-year. In 2023, Cyrus invested 4.438 billion yuan in R&D, accounting for 12.38% of the operating income.
In the first quarter, the net profit turned positive and the gross profit margin increased to 21.5%.
In the first quarter of this year, Cyrus ushered in a substantial increase in performance and realized a positive net profit. On the one hand, the market performance of AITO series continues to improve, driving the scale effect to appear; On the other hand, under the multiple measures of reducing costs and increasing efficiency and technological innovation, the operating efficiency has been effectively improved.
Benefiting from the increase in sales of new energy vehicles, the net cash flow generated by operating activities in the first quarter of 2024 was 1.187 billion yuan.
The financial report shows that the company has achieved accurate and efficient full chain management through technological innovation and cost control. The operating cost ratio in the first quarter of 2024 was 8 percentage points lower than that in the fourth quarter of 2023. Sales growth accelerated the appearance of scale effect, and efficient internal management increased the gross profit margin of products to 21.5%.
Rapid development of new energy business AITO explosion continues to sell well.
Celestial’s new energy vehicle business has developed rapidly. In the first quarter of this year, the sales volume of Celestial’s new energy vehicles reached 94,825, up 374.77% year-on-year.
In particular, the series of explosions represented by AITO’s new M7 and M9 have become a bright spot in the market. The data shows that AITO has exceeded 174,000 vehicles in the seven-month listing of the new M7. With the leading luxury strength in science and technology, the number of the M9 in the market for three months has exceeded 70,000, which shows that consumers highly recognize the AITO series of products. Up to now, the number of car users in AITO has approached 300,000, and many models are deeply loved by users.
It is worth mentioning that in the first quarter of this year, AITO ranked among the top five luxury brands in the China market and became the highest ranked China brand in the list. With the listing of the new M5 in Wenjie on April 23rd, the core product matrix continues to be enriched, and Celeste is expected to further expand the market scale and continue to lead the high-end new energy vehicle market.
Continuous high-intensity R&D investment Rubik’s cube platform unveiled at Beijing Auto Show
The financial report shows that in 2023, Cyrus invested 4.438 billion yuan in R&D, accounting for 12.38% of the operating income. By the end of 2023, there were 4,955 R&D personnel, an increase of 18.6% year-on-year.
The Rubik’s Cube platform developed by Cyrus was recently unveiled at the Beijing Auto Show. The platform has four characteristics of "panoramic safety, multi-power, ever-changing space and intelligent guidance", which integrates industry-leading technologies such as safety, power, chassis and software across domains, bringing users a "easy-to-use, super-safe" car experience.
It is reported that the Cyrus Rubik’s Cube platform is the only platform in the industry that can be compatible with three power forms: super-increase, pure electricity and super-hybrid, and has developed more than 200 safety functions based on more than 150 car scenes by applying the "panoramic safety" system pioneered by the industry, of which more than 40 safety technologies are at the leading level in the industry, making driving more secure. In addition, as a pioneer and leader of the technical route of extended range, Celestial achieved the number one in the range extender industry in 2024 and has reached cooperation with 12 industry partners.
Intelligent manufacturing escort ensures high-quality production delivery
In terms of intelligent manufacturing, Cyrus guarantees high-quality production and delivery with new quality productivity.
Sailis Auto Super Factory has more than 3,000 robots with intelligent collaboration, and the key processes are 100% automated, and a new car can be off the assembly line in up to 30 seconds, with the highest production efficiency in the world; Use the industry’s first quality automation testing technology to achieve 100% quality monitoring traceability; It is also the first to apply the industry-leading 9000T integrated die casting process to effectively realize efficient production, light weight and high safety.
As an enterprise that actively responds to the change of automobile energy, Sailis applies the concept of sustainable development to product design, material use and recycling, manufacturing, logistics and transportation, office storage and other links. In 2023, ESG report showed that the three wastes treatment rate and pollution prevention rate reached 100%, the average recycling rate was 97%, the average recycling rate was 92%, and the recycling rate was 98.1%.
