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Several listed companies respond to Tesla's concept: some only take 500,000 yuan in orders

Time: January 9, 2020 09:28:40 China Finance Network
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Original title: Some of the sales accounted for more than half of the orders, and some took only 500,000 yuan of orders. Many listed companies responded to the "Tesla concept."
Xusheng shares said that as of now, Tesla is the company's largest customer, and the company has the risk of relying on a single customer; as of the first half of 2019, the company's sales revenue to Tesla accounted for 52.09% of its main business revenue. However, several other listed companies have stated that, as of now, Tesla has had little impact on the company's performance.

With the "fire" of Tesla concept stocks, many listed companies responded to their cooperation with Tesla in the announcement of stock price changes.

Xusheng shares said that Tesla is the company's largest customer. As of the first half of 2019, the company's sales revenue to Tesla accounted for 52.09% of its main business revenue. The company has advantages in the field of die casting parts for new energy vehicles. At present, cooperation with Tesla is normal.

But more Tesla concept stocks responded that they have not been affected so far.

Xusheng shares : Tesla is the company ’s largest customer. On the evening of January 8, Xusheng shares announced that as of now, Tesla is the company ’s largest customer and the company has a risk of single customer dependence; as of 2019 and a half In the year, the company's sales revenue to Tesla accounted for 52.09% of its main business revenue. After self-examination, the company's production costs and sales did not fluctuate significantly, and its internal production and operation order was normal. All cooperation with Tesla was normal. No media reports or market rumors that needed clarification or response were found.

Xusheng shares can be described as growing together with Tesla. The cooperation between the two parties began in June 2013. At that time, Tesla was looking for battery component suppliers around the world. Xusheng Co. , Ltd. developed a qualified sample in a short period of time and passed the Tesla supplier certification in July of the same year.

In 2014, Xusheng Co. , Ltd. participated in the development of Model S accessories, upgraded from a single accessory supplier to a Tier 1 supplier, and assisted Tesla in developing transmission cases for Model S, Model X and Model 3. In October 2014, Mr. Musk, CEO of Truss, presented the "Top Ten Outstanding Partners in the World" award to Ascent.

Tesla's rapid growth has brought development dividends to Xusheng . From 2014 to 2018, the company's revenue and net profit increased from 188 million yuan and 34 million yuan to 1.096 billion yuan and 294 million yuan, respectively, and the average annual compound growth rate exceeded 50%. The company's gross sales margin has remained above 30%, and even once approached 50%.

However, after entering 2019, Xusheng's various financial indicators have declined. The third quarterly report for 2019 shows that Xusheng shares achieved revenues and net profit of 777 million yuan and 136 million yuan, respectively, a year-on-year decrease of 5.78% and 40.82%. The company stated that the decrease in net profit was mainly due to the decrease in product gross profit margin and the increase in period expenses.

The overall gross profit margin of Xusheng Co., Ltd. decreased in the first three quarters of 2019, mainly due to the increase in the proportion of Model 3 products and the optimization and improvement of Tesla's Model X / S low-profile models, which led to the decline in the company's Model X / S product revenue share. The gross margin of the Model 3 products produced by the company is relatively low.

According to the data, Xusheng Co. , Ltd. mainly provides Tesla with drive unit housings, radiator housings and other components.

Xusheng shares are also aware of the risks of deep binding with a single customer. To this end, the company has entered the supply chain of GAC Group , Ningde Times , and Weilai Automobile, and has developed new products such as chassis suspension forgings.

Several companies say "less significant"
In addition to Xusheng shares , many listed companies have responded to the Tesla concept.

On the evening of the 8th, Joyson Electronics announced that after company self-examination, the company currently supplies Tesla with automotive safety products such as seat belts, airbags and steering wheels, HMI products and related sensors. The operating income generated by related businesses is expected to not exceed 2 billion yuan, accounting for a small proportion of the company's overall revenue.

Kelin Electric warned of the risk, saying that up to now, the company has only supplied charging pile supporting hardware products to Tesla Motors (Beijing) Co., Ltd., with a contract value of 266,600 yuan (excluding tax) and software products, with a contract value of 245,800 yuan. (Excluding tax), the total amount of the two items is only 511,800 yuan, accounting for 0.0419% of the company's latest audited operating income.

Wynn responded that Tesla is one of the company's important customers, and the company won Tesla's order amount of about 72 million yuan in 2019. Tesla is one of the company's automotive molding customers, and it is not fundamentally different from other company customers such as FAW Toyota, BMW Brilliance, Changan Mazda, Shanghai GM, Beijing Benz and other companies.

Amarton said that although the company has become a qualified supplier of Tesla in recent years, and gradually began to provide solar tile glass to it in 2019, the transaction amount between the two parties is currently small and does not meet the company's daily major contract standards. . At the same time, the company is currently a supplier of solar roof projects for Tesla, and has not involved related cooperation with Tesla's Shanghai plant Model3, ModelY and other new energy vehicles.
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