Maverick Electric turned around last year: net profit of nearly 2 billion, overseas business accounted for 15% of revenue

MaverickElectricturnedaroundlastyear:netprofitofnearly2billion,overseasbusinessaccountedfor15%ofrevenue
OnMarch16,Beijingtime,MaverickElectricreleasedthefinancialreportforthefourthquarterendedDecember31,2019andthepreviouslyrecognizedaudit.ThefinancialreportshowsthatMaverickshasachievedprimaryrevenue20.76trillion,anannualincreaseof40.5%.Initiallyrealizednetprofit1.90billion,reversingthepreviousyear3.4.9billionnetdefects.Inthefourthquarter,Mavericksachievedrevenue5.3.6billionUSdollars,anincreaseof25comparedwiththesameperiodlastyear.4%,withanetprofitofmorethan60million,makingprofitsforfourconsecutivequarters.Inthefourthquarter,Maverickssoldatotalof106,253electricvehicles,withsalesup13%.5%.Asoftheendofthefourthquarter,thecompanyhad1050brandexperiencestoresandspecialtystoresinChina,covering181cities.Theinternationalsalesnetworkhasexpandedto29distributors,covering38countries,andtherichproductstructureandexpandedsalesnetworkhavedrivenglobalsalesgrowth.Asoftheendof2019,Maverickshasmorethan1millionusersworldwide,graduallyriding4.2billionkilometers,andgraduallyreplacingcarbon114.LiYan,CEOofMaverickElectric,introducedthatoverseasbusinesscurrentlyaccountsfor15%ofthecompany’stotalrevenue.Inthefuture,thecompanywillcontinuetoincreaseitsoverseasbusiness.Intheshortandmediumterm,theproportionofoverseasbusinessrevenuewillbeincreasedto20%to25%.OpentheSoutheastAsianandIndianmarketsandcreatemoreopportunitiesforcooperationwithoverseasbrandsinthefieldsoftechnologyandtwo-wheelers.InNovember2019,MaverickElectricreleased4newproducts,NQiGTs,MQiGT,UQiGTarenewmodelsoftheexistingmodelsspecificallyforoverseasmarkets,andNIUAeroEUB-01isMaverickElectric’sfirstelectricmoped.InJanuary2020,MaverickElectricdebutedatCESandreleasedtheL2levelself-drivingthree-wheeledelectricmotorcycleTQiandthefirstMaverickelectricstraddlemotorcycleRQi,bothofwhichsupport5Gcommunications,andthecompanyhasdeployedinthefieldofautonomousdriving.China’selectrictwo-wheelmarketaccountsformorethan80%oftheglobalmarket.ShenWanhongyuanresearchreportpointedoutthatthenewnationalstandardpolicydividendofelectricvehiclesisexpectedtocontinuetobereleasedinthenexttwotothreeyears.Itisadefinitetrendthatlithiumbatteriesreplacelead-acidbatteriesinthetworoundsofthemarket.Analystsbelievethattheproportionoflithiumbatteryelectricvehiclesaleswillincreaserapidlyfrom2020andcontinuetogrowatahighrateuntil2025,whenitwillreach80%.InDecember2019,thefirstphaseoftheglobalR&DandmanufacturingbaseofMaverickElectricSmartTravelhasbeenputintooperation.LiYan,CEOofMaverickElectric,introducedthatthebaseintegratesR&D,production,warehousingandlogistics,markingthatMaverickElectric’sannualproductioncapacityhasreachedonemillion.Withthespreadoftheepidemicandthedownturninconsumption,theprominenceofthe”epidemic”oftheglobaleconomicwarhasbecomemoresevere.Thetwo-wheeledelectricvehiclemarkethasalsosufferedacertainimpact.Inthepost-epidemicera,ShenWanhongyuanbelievesthattwo-wheeledelectricvehiclesaremorepopularfordividingcrowdedandspace-enclosedpublictransportation.Atpresent,theMaverickselectricorganizationresumesproductionandproduction,andtheoveralloperationisgraduallyrecovering.Sauna,YeWangChenWeichengEditorWangYuproofreadingLiMing