Ideal Group Announces Third Quarter Financial Report

Revenue for the third quarter reached 429 billion yuan, a year-on-year growth of 23.6%, with gross profits totaling 28 billion yuan. Shipments of vehicles also saw a significant increase, with 1.52831 million units delivered, up 45.4% from the previous period.

Ideal Group stated that its strong sales performance was driven by the popularity of its Ideal L6 model and rising demand for its high-end products, including the AD Max variant priced above 30,000 yuan. As a result, the company's quarterly deliveries and revenue have both reached historic highs.

Looking ahead to the fourth quarter, Ideal Group expects shipments to range between 160,000 to 170,000 vehicles, with growth of 21.4% to 29.0%, following the same growth trajectory as in previous quarters. Revenue for the period is forecasted at 432 billion yuan to 459 billion yuan, representing a year-on-yearincrease of 3.5% to 10.0%.