Smart and Sustainable Electric Mobility
Focus will mostly be on the gross margin, and Nio management's guidance for first-quarter deliveries are expected to be weak.
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Nio still needs to get its strategic direction sorted out before it can expect to turn profitable in the foreseeable future, particularly for its second brand, Alps, analysts at CMB International said.
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Lithium producers including Ganfeng and Tianqi expect their net profits in 2023 to be much lower than in 2022, with the common reason being a sharp drop in lithium prices.
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The earnings preview implies CATL returned to net profit growth in the fourth quarter, after seeing a sequential decline in the third quarter.
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BYD's average profit per vehicle fell by about RMB 1,400 in the fourth quarter from the third quarter, mainly due to promotions through discounts and incentives offered to dealers, a team of analysts said.
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BYD achieved a significant improvement in earnings, demonstrating strong resilience despite tougher competition in the industry, the company said.
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Gotion said further reductions in raw material costs and the introduction of Volkswagen's management system have helped it improve efficiency.
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Steps being taken by Nio should bear fruit in the coming quarters, but a material improvement in the sales trajectory may take more time, Edison Yu's team said.
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"In light of China's EV market remaining ultra competitive for the foreseeable future, Xpeng's strategy continues to resonate well with us, making the stock our Top Pick in the group," Deutsche Bank said.
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While demand for Li Auto's vehicles remains robust, investor concerns about competition have increased, particularly around Huawei-backed Aito, said Deutsche Bank analyst Edison Yu's team.
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