Chongqing Sokon Industry Group Stock (601127.SH) new energy vehicle sales increased by 360% year-on-year in February, with the WM Motor M7 surpassing 100,000 deliveries, setting a new record.

In early March, various new energy vehicle companies announced their production and sales in February. Due to the off-peak season of the Spring Festival car market and the holiday impact, many car manufacturers saw varying degrees of decline in sales. Chongqing Sokon Industry Group Stock (601127.SH) maintained a stable trend, with new energy vehicle sales reaching 30,257 units in February, a year-on-year increase of 360.04%, breaking the 30,000 mark for the third consecutive month. Data released by AITO shows that in February, AITO's entire series delivered 21,142 new vehicles, with the monthly delivery of the new M7 model exceeding 18,479 units. After being on the market for 170 days, cumulative deliveries have exceeded 100,000 units, setting a new record for delivery speed in the Chinese luxury SUV market. In addition, since the launch of the M9 model by Chongqing Sokon Industry Group Stock at the end of last year, cumulative orders have exceeded 50,000. The latest research report by Founder points out that AITO's M9 model started large-scale deliveries on February 26th, and the brand's sales are expected to continue to climb in the months of March to June, contributing to stable sales and driving Chongqing Sokon Industry Group Stock's increase in both volume and price. It is expected that the company will achieve a turnaround in profitability in terms of model profit contribution as early as June 2024, with the possibility of entering a profitable cycle in the third quarter of 2024. At the same time, the strong momentum of Chongqing Sokon Industry Group Stock's automobiles has significant value for the development of the entire automobile industry chain. As the leading company in the local vehicle chain in Chongqing, Chongqing Sokon Industry Group Stock's automobiles play a leading role in promoting comprehensive development through strong cooperation with upstream and downstream industries, promoting high-quality development of suppliers. Previous industry analysis has pointed out that the market's expectation for Chongqing Sokon Industry Group Stock's sales in 2024 is generally around 300,000 units, corresponding to a value of around one hundred billion, with companies in its supply chain most likely to benefit from this surge in sales.