Nextev's annual loss continued to widen, with a net loss of nearly 11.3 billion yuan in fiscal 2019.

Us east time on May 14, nextev filed with the us securities and exchange commission (SEC) annual report 2019 fiscal year. Financial results showed that during the reporting period, the operating loss of nextev reached 11.079 billion yuan, with a year-on-year increase of 15.5%.

Other financial indicators also declined significantly: nextev's gross profit margin and auto sales revenue gross profit margin in fiscal 2019 were -15.3% and -9.9%, respectively, both lower than year-ago levels (-5.2% and -1.6%).

In this regard, nextev believes that the main reason for the rise in the cost of sales and the deterioration of the gross margin is the growth of manufacturing expenses.

In addition, the company's net loss in fiscal year 2019 was 11.296 billion yuan, an increase of 17.2% year on year. The net loss was 11.413 billion yuan, down 51.1% year on year. The net profit attributable to the common shareholders of the parent company was -11.287 billion yuan, up 51.62% year on year.

In 2019, nextev achieved a total revenue of 7.825 billion yuan, a year-on-year growth of 58.04%. Among them, the sales revenue of automobile business was 7.367 billion yuan, a year-on-year growth of 51.8%. Nextev said the revenue growth was mainly due to an increase in vehicle sales and related service revenue.

In terms of sales, nextev will deliver 20,565 vehicles in 2019, among which 9,132 will be delivered by ES8 and 11,433 by ES6, with a total delivery of 3,1913.

According to the sales volume and operating loss of nextev in the reporting period, the company will pay a operating loss of 539,000 yuan for every car sold, which is smaller than the loss level of bikes (846,000 yuan) in 2018.

As of December 31, 2019, nextev's cash and cash equivalents were 863 million yuan.

In 2019, the cash flow generated by nextev from operating activities was 8.722 billion yuan, the cash flow generated by investment activities was 3.382 billion yuan, and the cash flow generated by financing activities was 3.095 billion yuan.

In terms of financial forecast, nextev said that the impact of covid-19 on the company's financial position, business results and cash flow in 2020 depends on its future direction, but the current development of the epidemic situation remains highly uncertain.