Zotye automobile IC data map
Zotye Auto is still losing money.
On January 29th, Zotye Automobile Co., Ltd. (Zotye Automobile, 000980) issued a performance forecast, saying that it is estimated that the company will achieve operating income of 680 million yuan to 800 million yuan in 2023, and 783 million yuan in the same period in 2022. The net profit attributable to shareholders of listed companies is-750 million yuan to-900 million yuan, which is 1%-17.48% narrower than the loss in the same period in 2022, and the loss in the same period in 2022 is 910 million yuan; After deducting non-recurring gains and losses, the net profit is-800 million yuan to-1 billion yuan, which is 1.26%-21.01% lower than the loss in the same period in 2022, and the loss in the same period in 2022 is 1.013 billion yuan.
In response to the performance loss, Zotye Automobile said that on the one hand, compared with 2022, the company’s vehicle sales revenue increased in 2023, but the income of auto parts and door business decreased due to the market environment, so the overall income decreased.
On the other hand, in 2023, the company’s vehicle business is still recovering, and the sales volume is small. At the same time, the company plans to make provision for asset impairment and bad debts totaling about 300 million yuan to 400 million yuan, so the overall performance is still at a loss.
Zotye has not released sales information. According to the semi-annual report of 2023, the company’s vehicle production and sales in the first half of 2023 were 872 and 652 respectively.
Combined with the information previously disclosed by Zotye, the "vehicle sales revenue" mentioned in the financial report refers to the Zotye T300 model, which is the first off-line vehicle after Zotye’s bankruptcy and reorganization.
As the "king of the cottage" among self-owned brand car companies, Zotye Automobile has also been favored by the market, but the good times did not last long. On September 1, 2020, Zotye announced that the bankruptcy reorganization application of Tieniu Group, the controlling shareholder of the company, had been accepted by the court. During the one-year period from June 2020 to June 2021, Zotye Automobile and its eight subsidiaries were successively accepted for bankruptcy by the court. In 2021, the whole vehicle production of Zotye Automobile stopped completely.
On June 9, 2021, Jinhua Intermediate People’s Court ruled to accept the reorganization application of Zotye Automobile. Until September 30, 2021, Jiangsu Shenshang Holding Group Co., Ltd. (referred to as "Jiangsu Shenshang") was identified as a restructuring investor, and Zotye Automobile was "resurrected" with the help of 2 billion restructuring investment funds.
At the end of 2021, Zotye completed the reorganization and began to resume production. On October 20, 2022, the new T300 car of the company successfully started to roll off the assembly line at Yongkang base, and the vehicle business began to operate.
On November 2, 2022, Zotye Automobile announced that the company’s stock will cancel other risk warnings from November 3, 2022, and the stock abbreviation will be changed from "ST Zotye" to "Zotye Automobile".
On January 29th, Zotye Motor fell 4.23% to close at 2.49 yuan/share.
(This article is from The Paper, please download the "The Paper" APP for more original information)
Reporting/feedback
关于作者