This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.
XPeng Inc. American depositary shares, each representing two Class A ordinary shares
Q4 2022 Earnings Conference Call
3/17/2023
spk_0: hello ladies and gentlemen thank you for standing by for the fourth quarter and fiscal year two thousand and twenty two earnings conference call her ex pong and at this time all participants are in a listen only mode after management's remarks there will be a question and answer session today's conference call is being recorded i will now turn the conference over to your host mr alex the she have heard of investor relations of the company please go ahead alec
spk_1: thank you hello everyone welcome to act of fourth quarter and fiscal year two thousand twenty two only conference coke an angel and operating results were he should bow news while services earlier today and available online it also be would only scratched relief by between the i section of our website at either shopping dot com participants altered dave call from our management were include cofounder chill man i feel better for shop hung by show man and president doctor brian group like president of finance the me for denny's through my fat didn't have copy finance and investments with the charles junk and myself management begin with the prepared remarks to the call will conclude with a q lead cation a web cut replay of these conference call will be available on ios section of a website before we continue please note that today's discussion will contain for looking statements made on the safe harbor provisions of the us private securities that geisha reform act of nineteen ninety five for looking statements involve inherent risks and uncertainties as such the company's results may be materially different from the views expressed it's day thirty information regarding these and other risks and uncertainties it included in the relevant public filings of the company as filed with the us securities and exchange commission the company does not assume any obligation to update any for looking statements except as required under attack the law is also note that expos any press release and these countries called include that if those your unaudited gap financial measures as well as unaudited non gaap financial measures axles battery and a press release contains a reconciliation of to allocate long gap measures to the unaudited gas measures i will now tend to pull over to the arab cofounder chairman and ceo mr bush album could go ahead
spk_2: that off on on a shop on cheaper to go down to what a salad that's all well shinning and she this as an impending is tommy didn't have it as a set play golds and body idea audio legends he questioning and she said the hygiene than that at a fatal on the data for me get it as as he that apologize to minnesota de ya de a bottle and the hyena thought that and cause couldn't stop the canada created how that the put into jeff hello olson a metal canada once you know and gotten as the woman that she did indeed quite audition don't you have been out of for to finishing watching engine acting and passages choose which don't shoot an empty on the got allergies in italian and at full pay for tells him bad i'll cough for them twenty knots and good for fatality yeah you'll enjoy cooking national council on and get on publisher that so again which had good gotta wait organ kinda as on chasing since and home what always happens you that she does unites ontario you're on a convertible know who else him on a yoga home the treaty of thing disassemble or was he was she cliff was showdown out sit outside as into of your mission that can get to teach all time low to the enemy can going and eat out in he had some been any that she meant isn't till where we shall old she is and how you would anyone ashanti that engine please hung which you're good at the trench coats it and she said and them bullets you
spk_3: hello everyone in twenty twenty two eggs paying delivered more than one hundred and twenty thousand and letting vehicles a year over year increase of twenty three percent and ranking number ten among imagine you be makers in china as measured by vehicle insurance registration volume throughout the year a challenging macro environment and increasingly intense competition in the any the market place to pressure on our performance i missed this pressure we saw an opportunity to become a first mover in tackling the challenges faced by industry and examine inhibitors to our business growth at the same time and he end of last year i rapidly and decisively conducted a with each other charities and implemented a series of significant adjustments to an organizational structure would have focus on improving areas of weakness we have decided to start the change with ourselves and we them eggs pegged visit with a start up my said on an elevated platform with new angles i believe i saying is approaching an inflection points as we have clearly identified well both are and what our strengths and weaknesses are we're now building recovery momentum in ourselves and market share expansion as we do this we're placing a high premium on improving our organization and cost efficiency to fortify all a strong foundation and better position all company for sustainable growth over the long term oh overarching goal is to make x paying a leader in the chinese even market and ultimately when the global erase
spk_2: no issue vanessa or minute done it and chosen tech congo has put your data is into digital chess on we're to get or mission the show nowadays shot at she that she do with it she she will go found out she dog and data towards homelessness associate on the deck what it alleging sexual themes and tesla tell jokes or since you although him died she felt i had to your so students in yandle since okay the water for in java cheer me up for the shop owners have you grew up shows auction prices have easy for that and good at that mean into them cheese bringing your sink hoda hiding and consider have a to the a your that each hundred sitting in silver photo shop on a tangent and ginger and it's article official injured thousand a key ago woman said kim prices are shells or for them and even show coastal may yet tell them what each alice's a good job pin pinned and to no taunting and eyes and has a shovel soiled us such it hundred gave up and data since and it going and on this hurtful to plenty of hundred the autumn two on it though to get shallow ago which has your weight either soviets and kiddo woman a quarter need to the shogun shouting we'll meet him to go says it's how the your shoulder jihad elements as any good salary which has think that's how to sell those hostages were gonna what said he was on auto look one you for the antonio enemies or for yes sure wait on a job and coach just you know what will what could you use seen cook lunges housing capital jody chengyun intelligence from the
spk_3: what excites me is that our strategic adjustment has induce meaningful results in the first quarter of this year which gives me confidence that we will achieve sustainable and great a breakthrough in the next few quarters my first deputy organization a restructure chatted with changes and upgrades and our top leadership miss for meanwhile has joined our team as president of the company pay us more than thirty years of experience in the automotive industry funding is taking full responsibility for our product planning and cells operations and is also in charge of our product last one management steam for extensive industry experience into marketing site and strong execution capabilities will help our product capture customer demand more accurately while greatly improving efficiency and i'll thousand seven division at the same time the adaptations to all management organization are geared toward a flutter and more concentrated structure in february all design or in the production supplying chain and organizational management function directly reports of me i believe that these shifts will significantly improve our planning capabilities and lift the efficiency of our decision making and execution in the coming months more importantly these adjustments have effectively refresh all execution and competitiveness for the foreseeable future i will with main focus on lifting the labour efficiency across our organization by multiple times though as to generate increase customer value with the same headcount and greatly reduce costs the cloth a full range of policies to technologies and management innovation
spk_2: that's how you agree upon for commit such as i'm can overcome that has the way local cook guidance without a jobs and courts high watches and thousand over the whole she does hurt him but what she does he look at life as unit jojo on a little judges who are double velocity hook cylinder you put his such it up theater the lay one thousand said you commit yourself over your whole document or they may yield she got a or don't you're waiting for jerk one thousand two hundred kinds of posted on the sangha thousand and ten not energy and on your genes in which as you on that point that they were thousand and conjure sewage for me it seems it isn't also a mature mtf new york fortune to against it king way closer bullet your woman a couple who isn't will be obsolete may us for their salty how quick and give the color which she don't lament that hundred go hawks thirty and far cool food show you cook away on with action was young she died out which on the whole she's isolation hunting single t eight she you food how kind of how or him
spk_3: with a guy to our part of planning and design we concentrate on customer perceived value and product differentiation in our innovation will make substantial changes to future products model configuration mix whole vehicle module i defined and consistency in smart features in terms of interior and exterior styling and define the meat eggs paying customers high standard for aesthetics i am directly running be stalling defined division and building three teams that compete with each other to generate creative ideas these initiatives will continuously improve our interior and exterior styling and space define capabilities at the same time i incorporated the next mode of score or and ps into the core performance indicators for a variety of this is function and required be back collection on a monthly basis the nps performance evaluation will anchored the transformation of our product planning design and development toward a customer centric pathway i believe our new products our oath he gave a new services to calm will demonstrate substantial progress
spk_4: looking for a job on it
spk_2: i'm joe will translate just before inside the bubble giving us for the links towards elvis it up into pinch your job without your know weasel jesus christ social sciences censorship jesus a little to do a job or meet your once in a team or this alternative schools or been choice you will treat you know to do so due to a bottle of that's what a single you forget creek hello me for your shoulder to go each other so they'll show for the or should be profitable shadow he tells him that or major ones and the shuttle lot of the and be involved quantity two thousand and yet since i judge or wanna put you that keep golf dishes yoga layer in the pc cool
spk_5: thirty of them though so we are those i want you that you have isn't the needle day ago she also we would acquire
spk_3: without elsina hearted in terms of branding and marketing will harness our poor differentiation in autonomous driving to the full extent and enhanced customer perception we are broadening our addressable market expanding our penetration frontier here one and tier two cities to tear three tier for city he so far we have completed a preliminary mers between all branding and marketing themes and refreshed our overall strategy this will help us improve the quality effectiveness and flexibility of marketing activities in an effective way going forward plus significantly reducing marking expenses we have already flatten out the management harkey in ourselves network
spk_6: but a more we are enhancing our network coverage increasing competitive capabilities in our front line sell stuff and developing expect powerful data driven south park points in order to achieve significant strides in self growth
spk_2: sir yes sir wilderness audiences npc that since you rpg i just as has been that though your digital jail for won't you know than other things out there pg i have trouble home in the gym good job with the general thought other figure out at a trade off it on local who she she's on creature that suited jensen juggled and dog amish allergy me say touches modelled on the was oh but it'll to though that down chance and uses option team done feet on t dollars yourself woman's reading below television show some negotiate form of the are you have and ashamed the kinda sounds shooting in that you put your arms by that she will be nearby say that teach i felt sort of thing that got intelligent woman
spk_3: seo venetians in the new york one be or even your capital doesn't have to go on the dutch him in the ago thought of the goods and don't you know i'm labels for cheap shall lot of on march tenth we officially launched a new piece of a nice sports sedan which is an upgraded version of are highly successful piece of a model deliveries to customers off to commence in this month i'm pleased to see our into traffic and test driving volume both hit new heights in recent months following the piece of an ice lunch new products the smart features darling define and perform and among other clear advantages in by three with similar products will well received among customers amid the markets prevailing weakness in new order intake our results outperform the market our new order intake in february increased one hundred percent over the previous month
spk_2: put the straw momentum of piece of an i ordered following his official launch we expect to see a considerable month on month growth of total new order intake in march this marks and initial success following our comprehensive transformation which is also boosted our company morale i'm a junior girls for obama she's hushing to new job for it i saw her to than usual pincher that ginger in the article says if apple when she will joe
spk_7: she you want you there are so that sounds like juggling regions and they are as you don't treat engine of the largest you know what you have impinges home gym
spk_2: she found so she the decent than door by michelle or minute changes uses feet onto was it only shows and judo which it's a this is i showed up i continued of open
spk_3: don't know how powerful what she does some ppg know other somebody the usual the will oh er jo that junior the siobhan and totally like chasing dutchman didn't sued or mtv to ones or john mandel your couldn't back home gentry choke then she'd cheated on cool job at jogging publishers our second new product model coming up this year the g six will make it will make it's debut at the shanghai auto show it's official launch and vehicle deliveries who will occurred around the end of the second quarter the t sake the will bring the most advanced electrification and smart mobility technologies to to two hundred thousand to three hundred thousand grand prize any v s u the market with unrivaled interior space range styling and interior decoration we believe that he thinks will become the top selling model in a market segment following the ramparts of t six mass production weeks back teeth fixed monthly fell target to be two to three times that of his p seven predecessors itself in addition in the second half of twenty twenty three will launch a brand new be he the seven seed mp p the
spk_2: this new mtv model is designed to cater to customer cohorts that demand a larger interior room while serving the needs of our family customers for a human machine copilot to leave us again trip to be destroyed any what i build them once in a neo nazi easy to your full color centers and was her to touch it all that a fever monsieur budget builds that we like gg barlow the person in the over you know tracing that you don't pinch it's comical you but the up with love to don't just the of onto that young adult all your shin the truth is a shall we talk to some you're geological java couldn't quite a language or else it'll hell when she does she really the young ones usual for shovel shiver yoda google and judges you couldn't bordeaux
spk_3: we'll know you what with younger children at the of was little recently had tpp four point oh and other ai based applications have created a bus among hundreds of millions of users on the massive potential of generative ai models i am also very excited about this it represents a brand new phase of artificial general intelligence which on premise that with on premise that deployment that does not rely on cloud and which not only define the pathway to realize autonomous driving but also increases it's efficiency given this the point to develop men there is an even higher possibility that autonomous technology further advances something else for to l five
spk_2: we expect to incorporate d p t technology deeply into x pangs business across the board to create groundbreaking user experiences and exceptional improvements to our our operational efficiency for say earth shattering person woman the aches and gp job way that well joe center south her talk to found us has both hushing jostled or the poll watchers and gp the okay a woman all or fortune young love to transform of abuse was you want or expect to that's a little sheepish a lot of have i known him she didn't get his face that into a genius shop into x nervous and to she she to survive gp job to tell you like causing me to so clear agenda each channel foul a sources got tested the towel don't forget all the talent and that's of gel what i paid shimbun but the aches and gp mean chance whole of on the your songs on legal the leaves that she showed up seduce you will shovel
spk_3: which has a shovel cheated it's just a key issue for you would get huge elderly integrated in late march we began accelerating the oh yea will allow a city and g p compatible with multiple models in several cities including one job since then and shanghai to city dnc peace out yea we took the lead in math but using the transformer base be the time he network or excellent in china which he's a milestone in deep learning algorithm development and application and the second half of this year x and g p powered by excellent deep learning algorithms will no longer depend on a high definition map that says x and he he will be supporting drivers are more urban growth across a weekend cities in china result from our testing showed the new version of and keep a clingy p outperform peers at all on road performance in the united states
spk_2: this leads us to believe x pangs autonomous technology and it's customer adoption is approaching a pivotal turning point and work watching that said oh father to school for you are pushing yourself fabricated change at all joel tweedle to for me jealous awoke in public radio aren't you know how much that bother go to enter into yourself over the for go tongji cohort year in july agents and bunch of to a goods little just before the financial crisis engine so it'll jump for that accounting i will meet you told golfing encouraged to know that you're gulping country does her financial pinch it young team without whole trend has a huge a little while i shall treat total go free google total that get to it yet as has been jail on monday junior send you to whittle down to the services of heard on a chalkboard to that his coaches up or monday trillion over danger the suspicion local horsey once in a job because you have functioned as that able to audition you both is a coach athletes and got you are unsure of function she's all alone city powerful woman i just average mean just one for work saints day trying and he does that okay make no way woman joan and the indian the eggs and gp old you agreed see golf shitty jobs and any indian he does a shorter wait a minute found any milan have a seizure yourself sunday and judging for yoda your genius adjudicators here forget that says the nato by going to unsettle shatila yeah it's for the gundy he wanted us that that woman you want mean yet nikes and gp the phones and the again the indictable to mrs and of the shadow angel don't and ally in jensen columbus ohio valley or egypt's and details will not treat golden to the trends little get so we siobhan a trashy really good outcome daughter yahoo jolla nice are not regional transit or jasmine
spk_3: with are i to the that you have some of us how much him into will kill her way wonder your thoughts on that we got a job in god your that he would be that when with that a secret says about when what's under modi that old we have built notable leadership in smart technologies as well as customer adoption of smart technologies compared with peers we're driving our technology will match and commercialization pathway to cross over the inflection point and week and accelerated growth curve while keeping high safety standards remains a top priority of our technology advancements will also be focused on rapid development to improve scenario coverage user experience and software and hardware cough optimization in terms of scenario coverage we have expanded the usage of the advanced tech knowledge he from highway scenarios into cities scenarios where a death or used at high frequency and even become an extension driving school add going forward will size to said abroad and a death usage to more into when driving scenarios such as internal compound ways and non public roads and expand our geographical coverage from three cities two more major cities nationwide beginning in the third quarter in terms of user experience we have achieved an important psychological barrier a we have achieved an important psychological barrier for customers to use autonomous driving to leave drivers that is drivers can let the machine safely take the wheel resting assured that they are acting only as a supervisor looking ahead respect that the through continuous ot a upgrades eggs and gp solving skills will escalate every year and in two to three years reach a level that is equivalent to a human drivers with the three years of driving experience we also expect that the number of manual take over per one hundred kilometers will be used to one or fewer recording cost efficiency we plan to cut ex ante the bomb cost significantly next year and a just ourselves model the one that bundles the south of software and hardware see one the splits the cells of software and hardware which is going to enable autonomous driving on all of our new vehicles and a lot more customers to use the latest autonomous driving capabilities
spk_2: in pursuit of breakthroughs in the aforementioned three realms will bring great value to our customers and build our competitive edge in technologies delivering long term sustainable revenue growth as skill and was improved margin contribution was a coach you will get fishing navy even the ones your would and which has your will add a would enjoy the chance it'll just or joke shovel that don't and with mention it to don't have to shovel that transitional job with she would endanger or the use for silver that region go to cheer them feel was injured
spk_3: quartz older people woman that one but two dollars shovel fishing that would anywhere jostle or that the the seven got out as hell it has been said that the past five year period was the golden age for a new energy vehicles i believe the next five year period will be the golden age for autonomous driving during the five years to come expand highly events autonomous driving technology and
spk_2: our efforts in optimizing our organization and making up for our weaknesses will help by accelerate all abilities to gain top of market share with a dungeon junior college and and major or know it's what i achieve his vision and she and the others are just make thirty thousand and she got have a great show show to the me what what are you will faith i'll feed her feet on soldier gets it he gets yea i told helmets from of three to your words the shovels you that too shallow no way indoor gyms in the question that i'm john paul looking that will will hop fidelity was hunting night to them without on it tweeted on a joke but check for jr has his shop on it and good option type have been to juggle
spk_8: only the shuttle pseudo for or juggler right you just jumped origin would appeal to know that than that is your job with to the show who's not could you tell him go quite a full to do that some that were you what what you will see ago
spk_2: sudoku on it's hunt thompson where your shoulder now over the goalies on political that the know or this or that could shoot us again shall call that you we have already yo yo yo how to found out she she she of all the shit that you hope he does a young woman am on a new job with been bought she said that that policy goal and assume that has horses se are baffled or jonathan that pinchas or she would be okay we'll need and city know from intruder such an allusion to for what you paid the odd and borders order for ginger yes dominions civil justice the polls have been told them that was a that a much at certain to other thirty four engine does she not and but that argue about the actual that much as you or gotten isn't that downtown one the sochi and bible india with lot and it than that it's a shit on sheila for those decisions or thompson said
spk_3: when i bet against budget sunburned of faith articles or do you think he said she got up to that at your own italian in the face of fierce competition in addition to our leadership in a ton of a thriving and aesthetic the sign while greatly improving our product planning abilities marketing efficiency and organizational capabilities i believe more powerful cost control will be the poor are competitive edge that will win evil acts pegged to secure his leadership in a the market will advance the platform base approach and technology innovation to propel our cost reduction strategy entering twenty twenty three were playing a full platform engineering approach for our be the vehicle platform electrical and tonic architecture poetry system and a death software and hardware development the signals that we are entering a new phase of carmaking in a unified system in this way were able to develop products with superior product quality and customer experience at a faster pace and at a lower cost in the path are aren't the strength were primarily manifested by our leading product performance in the future our aren't the strength will be underlined by maintaining the leading performance while receiving remarkable cost reductions we have mapped out our strategic execution road map with associate it cost reduction including and over fifty percent decrease for autonomous driving cars and about twenty five degrees of for a vehicle hardware costs including power came over to twenty twenty three to twenty twenty four period by names such as technology innovation and optimize configurations
spk_2: i'm pleased to see that the defying technology or indeed supply chain and manufacturing themes are now working in a synergistic way to make our efforts and products more competitive with through innovation they're changing your the joker over under federal judges hope will have some i bought them in a country that you all time coaching you are your value or mccoy whiter the yadav said of towards woman torso dog out of got a good chunk out of says darts or something that judges reaches over that without a toddler time yeah i do pushups and i don't worry for them most which i into your weight buffalo shadow but smokers pulsar women a you have officer john which able to jump through four times he treated ownership is you know you will cook answer is you showed up be okay sufficient pincher german would that we watch him it's a huge without italian on football that she got her or tender he showed needle to downtown over that shows is it or you'll on the your food richard she got get shot
spk_3: chelsea ginger sure there's all kind of thing addresses so that your water managers will without without actually a total sham and and cause it was she fellow a ship in terms of cash liquidity our cash on hand at the end of twenty twenty two amount it's you over thirty eight billion are and be as we have nearly completed our investment in our to manufacturing base is over the past few years including the of our cat packs will decline substantially we are also established three powerful vehicle plus ones that can support a few years of been new model launches over the next two years are are in the will further concentrate on initiative the best correspond to with long term trends and further differentiate all products in terms of customer experience and cost will also pursue improve not operating efficiency do out the entire process
spk_2: for example within ourselves operations we strive to improve the same thor efficiency by optimizing our store network we believe these costs optimization efforts will start your liver and material results and beginning or in the coming several months including in the second half of this year what's the soldiers will never put out faces as your me this year or there's also a joke and get a job hunting this year cause you know for treat your could you gotta be a vocal cord i woman of we will there's a fool do what that or abortions and forgot where more your such or that you wait at that immobile
spk_3: food out that she the i you in at that time ship for climate him at all to the on a lot of than should i to your quinn and to the bull shit it's old she's against those she of into does it will i suggested she went on to the shadow you treat your that to your liking for from yelling look what a good boss and leaves or wanted lot of it has always been my intention to be a successful company that can grow in the skill instead of a small company in a markets or just any generic company out there expanding our skill and market share to achieve economy of scale in both of were and hot where is the primary goal in our long term strategy
spk_2: although the park and management adjustments cycle idiots hot automotive industry is more difficult than other industries and takes a long appear of time we're still willing to sacrifice short himself and more patiently pursue greater victories in the medium and long term tissue she the one thousand and that was rather bad for photo two quarts of the chosen you don't own that some into was a spot dollars and you do that have overdone shall consider them or you cannot of course you know partial will be a show where will cheat on occasion torching and fungible has a shovel she
spk_3: that a shoutout elway kind of form of you cook one people traveled into your job up going on here though exciting lead as we rapidly implemented just month and changes to our management in addition to instituting a host of upgrades and aeration in our product portfolio and marketing capabilities we have seen encouraging changes and positive results
spk_2: i'm firmly convinced that beginning in the third quarter of this year i expect monthly sales numbers will achieve significant growth both sequentially and year over year as well as be much higher than industries average growth rate what's that the wholesome shoveled out in the jail georgia of hard young widow that soldier champion initial but than than new that years of achieve ago zealots issue though quarter legal issue such as much it so that doesn't thought as or jostled hate oceans i'm kinda treadmills us which as anti white kinda shy injured says you when you look awful that call five hundred options are multiple dunaway logical move our front door
spk_3: february digital that job on elm he reaches the audio thunder digital metal java know your way you passion for you and your tenure shoulders you wait let me be says us of are you i would reiterate that our current focus is on building and improving our capabilities in organization part of the sign marketing and cost control continuous efforts in leave leaning management and accelerated new product launches in an era of autonomous driving will be done
spk_9: to the next level of exponential growth will continue to strive for the skull not me respect all total vehicle deliveries to be between eighteen thousand and nineteen thousand units in the first quarter of twenty twenty three and revenue to be between four billion and four point you build
spk_2: yeah i'd be
spk_10: to that are semi your and as i repeat people will die digital our yard which ago
spk_3: little
spk_11: thank you in the one how now and over to our finance vb of vp dennis them thank you mister and how i was ny were like of her by a brief overview of our financial reasons for the first quarter twenty twenty two i will rough inside the only in my discussion today unless otherwise stated our total i'm used to on be five or one pm for the fourth quarter twenty twenty two a decrease so thirty nine point nine percent year over year and a decrease of twenty four points it up it's incredible the quarter revenues from real good sales were on be four point seven billion for the fourth quarter twenty twenty two a decrease of forty two you're pulling wanted same job a year and a decrease so twenty five point three percent on the last quarter a yoga year degree so many i attributable to law real could be ways for the yard t three and p seven
spk_1: while the plot of aquatic becuase was many you to law be a could be race for the p five mp said it was partially offset by the newly launched it she nine
spk_11: ghosts module was a boy said a present for the first quarter twenty twenty to compare was top and for the same period twenty twenty one and said employee fight that same for the last quarter we have a margie was five point seven percent for the fourth quarter twenty twenty to compare was temple knife i same for us and credo twenty twenty one and eleven point six percent for the last quarter the year over year and clot overcrowded decreases were many spread by to increase self promotion on the expenses will i be one point to a barrier for the fourth quarter twenty twenty two a decrease the victim point if it's a yoga year and a decrease of seventy employ nightclubs and cordoba caught it that you're your and quarter over quarter decreases many in i was tiny and progress on new vehicle province as and a expenses will i be one point abt and forty fourth quarter plenty plenty to a decrease of couple night that you'll the year and an increase or a person cueto the quoted the year over your decrease was many due to a decrease of the a commission page or even tried those associated what's available of you could you do is the quarter of a quarter includes the many attribute that to a higher the promotional and advertising expense to supple the was sales i see the though before going last one operation so what's the on be two point five billion for the fourth quarter twenty twenty to compare was on be two point four billion for the same period twenty twenty one and i be two point two billion for the last quarter men it was to i'm be to point to be and for the fourth quarter compare was be one boy to a and for the same period a year ago and i be two point four billion for the last quarter as of december thirty first to twenty twenty two our company had a cash cash prevent they see the case show ten deposit should a investment and tidy the party in total i'll be thirty eight point three billion to be my for for and and solve our unused coal i will encourage your listeners to refer to
spk_0: our unease press release for for details of any show results for the fourth quarter if we had on you don't need to this country that's are prepared remarks we were not open a coat questions operator preschool ahead you if you wish to ask a question
spk_12: star that one on your telephone keypad and wait for your name to be announced
spk_13: if you wish to cancel your request
spk_0: star than two if you are on a speakerphone you will need to pick up the handset to ask your question
spk_12: where the benefit of all participants on today's call as you wish to ask your question to management and chinese
spk_0: immediately repeat your question in english for the sake of clarity of order please ask one question at a time management will respond and then feel free to follow up with your next question
spk_14: our first question will come from ten his style of morgan stanley
spk_15: please go ahead a quantitative in the hall gael garcia is a with a to and now we're that went ah the the when he his own heard she does our bodies and enjoyable gmt to this is hunting and cause you to cover a your much to dodges a cunning and he or she lived dollars as a to beginning to system so much as a home she said his geology teach other shit are you serious challenge like fence on each alejo than he he does he kind on a to large in city the whole that are i beat identity this unit into the can pay them out to that he quit now like micheletti quite engine go to the your project or you'd see i shall we can look it dealer come there to get a cylinder to do have are you cheat ah you towards other challenges that he let a long time to falcon and actually that you really don't jump the want you to look away see ceo shit or two ago i shuffled into college and from dallas to let ah added hanging on the civil your wage or something in the film because you can use it to her typically gasoline on so my first question is about the competition hard to get them like get with fighting up i said minolta two hundred to three hundred fifty thousand and i'm be worth thirty to fifty thousand us dollar ah a effects going to swallow have a keep on and driver how if you have a cat what happened with past few quarters or a tesla he be stored out be like and even traditional carmakers beauty brands i getting more aggressive in this pricing segment on an outing yesterday do what he does agree that god is high he the entire time the a my hard to focus on the two hundred thousand plus my kid and kept on my consider cars are having another on the pies caught so how do how do you think about the come peddlers capping these
spk_2: pricing segment and how could act then make sure that his upcoming models including she seeks and about mother next year i could stand out in a crowd of competitors are where we be more uprising aggressive ah with more medical costs down your on quarters on so that's my first question becky
spk_8: sit here for the hotter when here
spk_16: it would you not fit in dog
spk_2: you don't ya know any man a cheesy teaching di chandler major player for poker peanut shields her claim and they treat treat on it held on television and sugar of indian ocean a a cheaper you have your fatty a lot and or challenging and don't against a tendency to against the sounds are you had a juggler you to hang her go outside the zoo in an elimination diet shots and much thought the kindle cheaper fancy for don't you guys having a teacher and that are now that it's english house as him hundreds hit on us if we don't take have been teaching during these women were your shin guards ozil as she had a little oh and aware of how would he go was your shop on the value as much him when he claimed that women into we want to have no identity tall i shower for me or judge how you're supposed to know just if i'm the only other set it up to your city and with encounter what to to another gilgit as a potential for even timber see not that put it up again shall political transition from yeah we're gonna mention so television and film not she told local magazine young woman john suchet kind of time yeah neither eyes are sort of science the line way towards area which region hours yeah that was shot had an arsenal of i for one has i just found salvage chance old colonial faith how to order to win over capital jump over and to take on and shouted have them fiji and i will be out the trial a couple job that i yelled at him but you have and date good enough to end of october fee so without us again email which as a shovel your financial decisions that know what i actually don't just it and she said agreement with without teaching yeah since trinity that's civil on a immediate played that the tunnel home in a guideline choice in question facing unit eg there shall learn to jot them play true teaching not your sinuses hello can go to do it
spk_3: to the organisers and years holy shit thank you for your question is a very that one basically we expect the markets you are experience a series of price cut by different know yen for the coming couple of years because of the yes very intensifies our competition or competitive landscape in the current market access expressly for traditional or with the out he kind of or carmakers and because our we expect to see a lot of the oversupply of a capacity and the market as well as are some argue production in a raw material prize in which will a good foundation for different price cut to be expected her in near future and as a result are different brands and different players in the market will launch a series of price that in order to expand their market share now as i mentioned in the prepare him and lot of that becoming for parties for x bank if you are optimized organization as well as to expand our scale and addition to that we offer will continue to improve our autonomous driving capabilities as well as optimizing are defined language now next to it's our we also will perish high the costs of my fish and i'm in the past we mainly focus on the development of the functionality in the overall performance of our products now when we expand to allah pies are in the targeting price range to cover more than two hundred and fifty thousand and three two thousand two you actually a little bit lower to twenty thousand rmb we will i there's actually a lot of room for improvement in terms of cost reduction for example just to reduce our overall been costs are in the are in the factor and also to integrate our software limited aspect of our software and hardware define as well that is why in the coming future we will well first of all paris hi id and skill development as well as improving our autonomous technology and overall product or quality and performance ah while improving our cost structure a many new areas especially our to be reflected in our newly launched our products or to the spy kids and also we will we will expect awesome
spk_6: strategic our price reduction in the near future as well so as to expand our market share and promote delivery thank you
spk_2: what a little world boss area all of us to get job without each student or whatever your tedious and i doubt that the shins and eg edges and she rejects annual schieffer cause that's what else will give that ginger one k or not thought that bill was a judge or yoda sailing ship up him pay that was shot him what you know that would a whole kind of the awesome job much a cynical current social josh the job to you it isn't you wait up to nibble watch the so india has it was like she's lying it does she the losses out with our sword and budget towards hotel that's all gone and little what i couldn't treat you to show the of would not have family here the job of we were free new world shovel that she didn't have that advantage of anyone issue no it mailed he could teach for that ginger women are teach would allegedly will come the mailbox on board and go for such people you'll have whatever whatever the to the was actually your faith so woman no way that sham in a would any mit census in any way you're criticizing pinch hit closer young girl called to him but without says house on the either way more tail clinton's engine was horrible
spk_3: is it over to the date and this is how they didn't just agents and in chicago looking back at a now two thousand and seventeen at there are about three hundred are carmaking start ups and seven or seventy or passenger vehicle makers in a market by now there's only fifty players left and in five years plan maybe there will be less than twenty five and and tenure time left and ten which been said by that time that the annual deliveries of each single carmakers will not be one or two thousand and fifteen are in a half a million seven hundred thousand in need to be a least seven million in order to survive which means that we need to have a solid foundation in terms of our hardware and software capabilities as well as all coffin full capabilities as well in order to
spk_15: just some five in a market in the fears i intend to buy competition not you know letting a becoming than a winner are in the competition and that is why in the coming five to ten years all a power as he will be to solidify all the issue in all of a logical aren't capable of the as well as our cost control thinking i don't recall guys yeah both on to the she gets ancient know what they're going to to a challenge she does a guy you to does he quit as as a key chain of anything that things are getting and she taught me how to control your the attack are taken by the again shovels and eighty dollars you guys are so the to be too hot that he won't be a kind on according to a year sentences laugh she knows of education services and duncan and getting a become quite a good job you don't try to to treat our in shitty this actually as the key chain i do the it's things on each other's up on she's alleging on the at the dog her to the teachers issue that she's hope not will migration team going to show that yet to yeah johnny the fleet was shocked i will be a dick idea what is it can be some you been she out so my second question is bout de ourselves network i could you please help time to update as expense to channel strategy this year i'll add your want to see allows us to strategically great critical ah they grow date of or to cds and china was and how pace hada hired to see anything because the key grows driver on so quite quite a few movie makers are talking to pantry into the north you cds on so how how to expand going to grow yes processing abilities cds and in the meantime we had a copy ah change
spk_2: on his hypothesis moto consisting of the direct sales in the dealership our will be here any mature changes in are coming quarters or that's my second question thank you ticket or machine neither some time off on today treat other year and your tiger and or say and adults it our allies with the yet or shooters and howard underwent you know what are you the truth urging and that's are without getting a divorce finances you know on the verge of the on she she had seen them so chance for ginger as have him tweeting chair which i had a forget what pushy so janitors me away shall day to go to the t gadget were meeting for that should not have plenty plenty of hot go on a patient is a tivo go on a for sega genesis three not a taylor are hundreds and shouted several of inching and that your faith home phone gonna get to handle on it you know can be okay down ten kids in georgia image house also the she not good enough and daughter so on and she got dark chocolate lemme city that games for tormenting warm insinuation that sentence a huge injury to dip into your heart and soul into religion as had it as seen on the high that he thought i shall me border seemed anxious about other what are you and taylor walk and other things up a little me your it yet
spk_3: as for you for minister or of were no way sir tired and shouting that she not create creator surfing are hotter to not shout out of when on couldn't see you on and go to look for damaged child still network where game chat she's thank you are our our newly recruited as senior management number on this one from being as he is way more experience than me in terms of channel distribution and i'm cynthia one month after her a moment he already has numerous numerous discussions regarding our distribution our channel tunnel network of alum and so forget yeah we have several strategies in place already spread about we will maintain our current model of having argument he won and franchise are story in order to promote ourselves and distribution a however the big some franchise it will increase am and the second point is that we have our and will continue to flatten out our management structure the rescue improve the overall service quality as well as to improve the profitability and efficiency are off our distribution channels and the third point is that we will actually expand the functionality of those kind of channels to include not only south advices or functionality but also to increase for it's function as well as soon as she still as to provide a more classic concert our comprehensive set up services or to our customers now one of our upcoming next steps out which i can be viewed right now is that we don't believe that it would be very effective to have a large number of a small distributors or small channels lauda we prefer to power heist the development of quality china
spk_17: or to improve our a rule our service and distribution efficiently thank you
spk_2: i'm a boy he got little ones on a budget mantle and number of going on in when a the shit three dollars johnny that she she on which we out on the physical but that you know
spk_3: also of and that's how he will have are you have a cardigan bundle and so are you thats the church with on the show the go it's origin or will go on such and such a what his will it the one that will at all ages shit regarding the second part of your question which is the i channeled the network tier three tier four cities birth of off ah we will work with our partners are to expand the ah channel and not work in addition to that we will also defined in an articulate are probably products are suitable for the a three year for cities
spk_15: and we do half hours awesome facelift products are upcoming to be like to thank you
spk_0: on the fingers is available in asia are they give given much for else i'd caught the shit
spk_18: the next question comes from paul gallen you bs please go ahead a harsher shit all conscious issue with on a chihuahua do you go when can i saw the height your shirt on and out to go for me into go daughter that i you how to go you you buses are not your what's this is unfounded your house you are to a park patrol which is as if i to feeling confident in the under all conditions the shop which is anemia you see any mint tea and to see foot on our knowledge on but how do you shop peter shocking she forgot some toronto to shoot other people says somewhere it is also talk to other you book i don't have hung on also some on fundamental problem of and guy
spk_2: my first questions regarding say i'm under a rival of the on this one from the inside the role as a president what have you heard of gave us a criticism on pony omni mouton out for the police situation and what he is harm plan to change it earth day for injunction a ladder that guy you go by years ago but you know how they constitute it and of even dual core injured i have also get out and a long way a woman that way what she says that show some it nailed it took off a lot of a little ones on the to that say potter daigo to taking up the was created you have a protestant comfortable with hydrogen boy visited for before the my three that we want me to jong and ago and out of the that are optimal solution a hobby
spk_3: i do a gonna at watch it on a yacht is a valuable that she had the much in a genuine a dog hesitancy been a whore now they're interesting question to ah miss long has been with us or has arrived for more than one and a half months her biggest criticism for a company is twofold first one is on the planning side and the other is on sales and marketing am i mean this is definitely you're a positive sign because it is better to see the problems and have delusions rather than ah you know being fully complete and without seeing a root cause of the problems and fell right now we are in ah you know full force at you are correct and some of the mystique that repealing had i'm an illegal i feel a lot of pressure of
spk_18: on this one because he is are working seven days a week and right now we are all following a stranger off lab being very very diligent at work is so that is a lot of pressure on the ah the global influence with a hard to accomplish opens on two dollars your situation to go tpg the you got angry appeal for know yet i'm gonna do what action today on trying to books and she fulfillment ego union aren't know for up on some go see some he showed your for me and go some from you got you into the you go somewhere that function what's your to the tissue without familiar with know what autumn got from those on to me out on a key and or each i don't watch them down to the to your own civil sure we'll get done a tissue which was young and but you don't go since i for your has emerged someone should support to the wind kicked off a mythical questions regarding our your interesting comments on the t v t sophistication into the smart vehicles on how you give us some kind of some example how do you imagine such and of technologies to be used the in the long con are you smarter the coast answer yeah so i'm sure we are you for some time
spk_2: watch your own a t all kind of fun on the other services feed on that tbd was as in the shovel that don't you don't you it or you just the was without the you into that he did the job with you that she got the egypt so far so that all that you know just supported the jewel outta towards year though wouldn't just as a whole your father she thought or you could juggle weekly that doesn't watch on other than me our agenda as plausible or with as you want you that watch the fantasy york city should i do the cheap cp cheat at the and be a bushel juggling been gets a little was as in will now she's will they'll fall in love with options in a tree male voice has it that thing that to they'll fact which of the that to daughter tweedle table food without it that usually be a way she became such a the new got the much as such as a poodle fail with you're not tbd couldn't sport and as old condoning that are not just for that yo yo honey it that a pseudo when da vinci the higher wage hasn't quite a shovel as the in genuine in jail hold on just that gf good idea that than trying not general not it as with a young for you to toll on the government panel and they gave had to be key that she thought of like genetically high know the that she will then i'll have to hope it wouldn't look another don't walk on over your dog or to depends on that she's she's wish shit little with a junior mint
spk_3: the shinzo shoveling out of that little see why you feel genesis international your board yada for the whole nother go over that time to to one thousand feet on the woman and kind of and watch and it'll don't the feelings on the fate of the south on think if we a question now definitely had pt and related ai technologies will provide a lot of values for on me term long term development now what we look at autonomous driving technology or capabilities are be lower level one medium level are kind of autonomous driving maul he always beat the conundrum have been not smart enough as human drivers because cars definitely can be very capable as the driving vehicles but in terms of decision making a lot of it comes down odds you the intelligence level so the fact that had tdp ai technology allows on campus deployment as well as cloudy and our connection will actually be a catalyst in terms of the development of autonomous driving technology all away from level for or to level five not in terms of the a potential fee or cause have a job seem to technology africa while we will look at the near term application in the software side which will be yes much sooner than it's application or the hot were aside because it's application or in the hot were were talking about integrating the software together with a hot were which is quite a different story of from applying it on software thigh and we mainly will look at some of the a key areas in for example which case in and all the documents father seeing language processing except shop arm and definitely we expect to see a lot of variations are of related had tdp had not a t p t technology in china and we will select a white partners or for expanding the future cool
spk_19: adding to our developmental pathway and right now we are in compensation actually with a lot of potential partners and the are you a macarthur the to the potential cause even a we believe it's quite minimal thank you
spk_0: thank you very much
spk_15: the next question comes from been long of credit suisse please go ahead i glean the whole point of view and even lucia going to month and genome it all comes as well as the go on the neutral tomato number going ashore production from off or someone cancun so you movement shooting a puncture says you are super size me to school it on to minnesota up on for sexual abuse with egypt so yeah a future conscious as you are shoot as much as elements are we did i see you have to deal and she giggled a good example a good teach your image of the on i'm teaching on can two shot him be mccaw on the them you wanted you to that's how we got a bitter holiday got saddam some email twenty one years use
spk_20: should you welcome computer young saddam know my way to them did seem my not actually got to consider them belies the by your cause deduction is the messing about with pakistan cop in the on the called component cause they're amazing keep me motifs on about how he can it you've got put on with do you use that in a good guy costing two
spk_2: do the cost cutting for is a very important a second concerns about a two night i do not have been doing not good it recently but previous you think on a to not body will be even higher than and on how you can maintain the to nice else for momentum and was the or antenna patents own agenda and kids so the so what would you not summit jody paradise all over that bill patricia aunts and uncles local a for with a whole new two felony for so that he was from yeah i'm attaching and up and junior associate put up with get
spk_21: and you know woman that had that good thing to a pack of them it on a canada she know how hard it could have little job
spk_2: to a pet the way elements and education and good up i said he was a that gives you cannot the judge other woman that than that as your holiday oh jesus and the whole on creep up guessing game and at in the some of your shown on a leash as see the legitimacy both at the editor that only updates and check where you more
spk_22: leave it to feed on that a little for
spk_3: woman seen on that you that's what i said little just holiday don't die to full color cincinnati with no shit the when what edging in a cabinet meeting somebody aged opinion and in the she was inserted on july the shut twelve inches yet as specifically speaking our the costs which action target of twenty five percent is not in may and not amazing per se or but he definitely indicate that in the past you know we definitely still a we not doing that another either thought it a lot of room improvement in terms of cost of production and right now we're seeing our multiple ways to actually ali with use our cost of mom and affecting an overall production for example as you mentioned you know we have as new technologies and are hopper the integrated ah stumping techniques are that can help us to reduce the cost of manufacturing the whole quite an awful in terms of a pack of the have be or the whole vehicle as well we have awesome viable methodology the can help us to reduce the costs by of fifty do sixty percent in addition to that are in terms of the overall i see them better we are we are now employing or adopt employee or adopting the young whole vehicle platform engineering techniques can also help us to drive down costs as though as a result there is a mix of methods and of later of ways
spk_2: for us to reduce costs in terms of our poverty and you know overall a whole buccal platform and engineering or architecture us scale and also different configuration as well
spk_23: so overall are in the coming periods in the second half of the year first half of next year and other the second half of next year if we have said i'm a set of different on developmental stages goals in terms of our cost reduction arm and the effect that can be expected and you
spk_2: or you just you or that thing to do about finding that you'll be all accounts intended that and old saw that sounds like he sounds a bit of both men and of i gotta tell them that the world has a lawyer says your that the whole we'll boko don't have over one the your open a pizza singapore a the whole meal and has a deal for his e o x and gypsy that george bush in the peachy i some it don't win at has she should know how to shovel you want that a situation that your cousin didn't have to eat out in a job as a handle how the kobe to uk order to ship and tulsa okla think the shop hold up the
spk_3: package i fall to above or say that you don't have the hood men get the day the logan you don't believe in the shower that and what she got to those and that you don't believe you how did you say say of i will meet you fish are allergies your shoutout shall we are if you're eating and to the public will be the that will that you forgot it isn't that she was as teach yoga to didn't you know the emerging in your nato or i would have either bosses should i your child that and district judge that rachel what memorial says now in regards to the deliveries are the night are definitely in the price range of three in two thousand or indeed you know among all the ads he's be the rifles or there's been a lot of challenges in pushing itself however you know in the near future we did have far as a we do have are several moves in place to boost i still us healthy liver is the first one is that we're ramping up several configurations and a second one is by are implementing the x and u p functions on unseen i as well as on piece of an ice which we believe will greatly enhance our the effectiveness of the nine as a our products in addition to that we're now getting a lot of positive feedback from our customers who
spk_0: have a received thirty nine am in terms of the upon a quality an overall performance in addition to that we believe that the launches our of piece of an eye as well as she thinks will booth as the traffic in all sorts as well as encourage or in part interest in see nine as well as part of the yeah he applauded line ah in addition to the
spk_15: that we not already seeing you know we invigorated cells or deliveries and march compared to the month before which was february now in the markets and so we're still very confident that wow we can now your we are in on the right trajectory to meet our delivery target which he nine for the year
spk_24: the good the next question comes from that line of jp morgan please go ahead
spk_2: she it suited to do that she would have would know down the went from a bigger with you some good things are you going to the from you'd see the good job with a win to do that said the do you to with you to go to they do that because the the city could kind of mood to the hung you mean by the dell good consumers don't jump you know what i'm felicia it much you can particular the guise of mocking sense of the function for your foot with the block of ice will hide this will be happy to have it of money with wait it out without we don't have the got one shot yup the dwp it oh shit what your device so hm coroner i
spk_25: male map without having they'll never got as much as you possibly know that what you did they didn't get a judge ordered a david up to your harder to the table
spk_2: change it or play it auto parts of the toilet is over and tulsa whatever the ginger shop ownership michelle feel pending charges and that tommy your position the shadow chancellor mechanic and fate as a country that says that that every color that in canada or medieval eating had this way engines hundred number you know that shattering
spk_3: but the art as such it or chatham county that what the any mentioned the evil will feed on top them on able to leave of in oxygen and will bill paulson and will travel on a show called itself to the woman and date to the much more genocide it is
spk_15: am i think our what you mentioned in your questions and like i what you mentioned in your questions my ah be bible you know fifteen years ago which was that you know you can basically so anything as long as you know they are cheap enough however he might not work today are we still believe that our part of quality speaks volume so awfully this year in terms of our overall mocking and pricing strategy a we have that of
spk_2: a different of glasses or goes ah for for example the second half of the first quarter as well as for the upcoming several quarters of the year so are we just know leah expect a lot of fun or reinvigorated our delivery or a cells or outcome for the rest of the yeah boxes of we go over to the went into the went into the gym you didn't see the do you could do the glued to the some your guns on the company is often thank you to the good since when does that in it's easier than going some kind of you can use your your you will be easier to come to the you have to the some fun with i'm lucky so cool that instances it's a good comedian who the contents into your definition of the taken them the up assessing side shooting yeah that that you're up against a juggler your capital such as all day when don't you go your feet are hotter the harder to convince you that of your forgot to tell that although it on junior high school i guess the juggle hi joshua as and little would you like high as since how that didn't sit on in the in told a center for couch at a table of a jogger than that that they wanted us as he got the it's a little high as the you can get a new and got tweet on again tendency she that and book shall be cheaper for shell beach yoshi they have been challenging than the toll on them watch chan as will go on and the whole that for call my shoulder elements of idiocies and no woman that juggle we shall be hung it up juggler you couldn't baffled shushing at that would cancel of to the has to change in since good share the yeah
spk_3: sleeps with a good dynamic as it at all of it a label region that shout and woman at the little don't give up again treat cancer tag for the shit if he's you know on the high canada your feet underwater on it'll work in sit at home you off poll against sang and incidents for vanity any you off to lush johansson job it was all out for young people given a little pop i was a said are are so that she hung since issue another needed she got a senior don't have it you know where the tape only your faith on outage and unicorn yeah i give her that i would add a shop a york york had chopped i'm not a report to la barre supply to first of all in january last year we thought our despising inflation happened to in the industry which really blew are encouraged in the development of hybrid vehicles in a market by rotted much you know that are but i heard a lot of development in be de sac either this the here are we are happy to see that the uprising of berries are have come down and these are newly bought a newly launched our price what in in a sea or led by a lot of barry makers especially the leaders it's that lowly a very good assigned are very beneficial for development of obese and can help us to improve our pricing compared
spk_24: dimness as love now so far are based on our conversation with albury suppliers we are confident that the price reduction or the degree of the price reduction ah you know bob i shall on supplied by our eyes supplier partners will be a more aggressive than the industry average and that's just from the outside looking internally we also have
spk_0: on discovery different ways to optimize our cost structure or to reduce our our a class in terms of the apology and our a better use as well as are paid by for example integration as well as your integrating some of the parts as well as replacing our traditional ah and the and and a aberystwyth allah
spk_26: p a battery is also by extending ah the ah usage holiday driving restate has supported per battery by about ten to twenty percent you know all of these ways can help us to fight a drive down our barry cloth and you can actually see the effectiveness or outcome in a coming twelve months on decision the next question comes from mainly of bank of america please go ahead
spk_15: was in cities of the t one and i was an incident go into a beagle and he the glades ago and since i mean that you are oh gucci are your teeth and console t don't go home and eg to the to johnson snowden so now
spk_26: listen to pc do on us i'm very much too soon as i'm concerned that pj's as it so she didn't think that listen another muslim know genes or jesus or of right on cue deal competes you'll be i thought you guys that bit uneasy chunk of the that's you don't have of has it has you retire from someone's of the minimum so you don't such as it's shields you can some been have of you niceties some she's a week of conceived in his own self agencies or owns to the eager of business
spk_2: so now we'd be be repeated of peace will be joined by didn't come home from a door not wishing for you as a deal and himself oh my first question says regarding other part products are competitive business or five ci six because measurements you just mention that effect g six in a future to stabilize the most he sells could be two to three times or forty seven up at because that she's sick sizing and similar price segments of the key seven so oh police no prada competitiveness
spk_27: to give you the confidence of seasons with a deal with
spk_2: a photo that city planning to visit a gentleman it for male politicians have on that point i see it turns out in a fella to downplay john she knew that associa okay cnn can see that such an evil get the shore to knew that hung up lend me your feet are baffled of she got your home and young keeping sheet home said it's had a don't know if you're hot it's own yard or media wants well for feet on up was young now how you to you have an a c i need a t shirt you will never need it's usually too
spk_3: on the phones older than me jj on a she always toggle and the chateau are gathered in the to enter the conjure and be woman or your sound local jails top faith handle things done it without a whole lot of on you if i can do the klingons dances or above it i've had a late it's ocean see how that white thousand said said i wish i knew that at the which it out for yankees yankee shovel not able to that a twitter feel that encountered that she had a congenital the is our indoor your feet under another table
spk_20: okay shit
spk_26: i'm a policies i really cannot with you too many details regarding our yet to launch models out and but you can expect to learn more about she thinks in me to low april this year i'm in shanghai auto show up at something that i can mention about are some highlights and he seeks as first of all it has a longer driving range supported by our optimize weight of the whole vehicle driven by our integrated stamping technology as well as better he manage men are and when businesses are management technology and as well or in addition to that the interior space on the t v eggs are is an hour is amazing
spk_28: like specially if you are looking at the a second road of the yard the car the seating area is a pretty spacious mom and another characteristic out ttc are highlighted is this athletic the design language follow the x bank styled which is going to be very appealing to our customers and can
spk_26: i since you're not with a diego and he said in see someone that can say someone's of it he doesn't ones in there goes your seen the picket it's soon how yields enough of this isn't a to on whether you the person the teaching my some and such as is on google monsoon to go on sensitivity to consider to be to go before the on meant
spk_29: your chance of the time zones no incentive to to consent enough to notice as will mention some gym today due to some thoughts quite on again since and atonement
spk_26: to do than a better because it's of young people have been possible cause a lot of thousand to no touching to go to the told you this isn't about and some dumped on them to go me to have become prizes or lose his emotions ago the most of it and city
spk_2: yeah still got anyways on changes away like the home months ago they did density so now i'm forty eight prices up your tail out that door up reality shows acid odds are gonna get tired to that densities without up to the the ago and so my second question is related to up pegi technology so in a future where you can see the to use a different type of edgy for example like our assange ago a type of veggies and a besides that by regarding aren't you are a current elder elders take a lot ah jeez tonight out you already provider high voltage affairs charging patchy a funny stuff he said racial are high enough or if he did not than the high enough is is because the charging infrastructure i still not of mass or ah cause i feel comfortable up a sounder a current don't know no more lies to a bedsheet excise says he has a teacher at home in a that a treasure trove
spk_3: i'd like unlike those are a lot better at times chant also other for the quite honest carbon i'll tell illinois jammed in that to shake out or top right on a abortion short for say the my father for the credit the also type but ah bottle casual dining was rather than let had a yeah neither will get on how you agree i shall be she'd have to pirate order to a little said it would have a fever and gather by guessing that john animal her ought to the filament that that that's what elastic taylor that ever taught to on over an analogy
spk_30: or do i hope will and on not had the value of audio what john and them got that put on that touching your but i'm sure i'll have i'll put your audience or the friendship day
spk_0: i'm regarding he night and all love our upcoming new models and safely versions are all of them will be equipped with the a fast charging capabilities are suitable for a hundred are voltage and other silicon carbide are striking technology and we will also expand construction of is that charging infrastructure as
spk_1: it's now what i like the mention is that these fast charging technology will not only work on the dedicated charging pile but also in the already know talking fall as well as you can actually beat up be charging by using the technology on both are charging piles in addition to that we also have to put in place alan immortalize optimization technology
spk_0: it's to optimize the berries as well as the i chipped in the design of those new vehicles are so we are open to the possibility of adopt paying a cylindrical batteries in the future she says opens up he to time constraints for this call i'd like to turn the call back over to the companies are closing remarks thank you once again for joining us today if you have further questions please feel free to contact expos he met the really is through that contact information provided on my website or the ps and financial communications a conference call you may now disconnect your lines thank you
spk_1: hello ladies and gentlemen thank you for standing by for the fourth quarter and fiscal year two thousand and twenty two earnings conference call her ex pong amp at this time all participants are in a listen only mode after management's remarks there will be a question and answer session today's conference call is being recorded i will now turn the conference over to your host mr alex the shia head of investor relations of the company please go ahead alex thank you hello everyone and welcome to expose fourth quarter and fiscal year two thousand twenty two a news conference coke of an angel and operating results were he should bow news while services earlier today and available online it also be the only press release by between the i section of our website at either shopping dot com participants older dave call from our management which include cofounder chill man i feel better for shop hung by chill man and president doctor brian group light president of finance the me for delhi through my fat didn't have copied by news and investments mr charles junk and myself management will begin with the prepared remarks to the call will conclude with a q only fashion a web cut replay of these companies call will be available on ios section of our website before we continue please note that today's discussion will contain for looking statements made on that a safe harbor provisions of the u s private securities that geisha reform act of nineteen ninety five for looking statements involved inherent risks and uncertainties as such the company's without may be materially different
spk_2: from the views expressed it's day thirty information regarding these and other risks and uncertainties it included in the relevant public filings of the company as fired with the us securities and exchange commission the company does not assume any obligation to update any for looking statements except as required under attack the law is awesome oh that expos any press release and these company called include that if those your unaudited gap financial measures as well as on are not get financial measures expos pratury and was press release contains a reconciliation of to unlock a lung gap measures to the unaudited gas measures i will now tend to pull over to the arab cofounder chairman and ceo mr bush album it go ahead as off on a on a shop on cheaper to go down to what a salad hey that's all shinning and she does as you know any case tommy things up and as a set why olds and daddy on yahoo legends he questioning and she threw the hygiene than that and have seen a little tighter get it has got he said apologize king innocence as he ya to your bottle and the hung it up and cause it couldn't stop the canada created how that the put into get hello own sentimental canada was little and gotten if the woman that shouldn't be and quite audition don't you have been thought of has for to finishing watching good acting and passages usually woods don't shoot empty on the gotta change in italian and at full pay for tells bad i'll cough twenty knots and good for the the yeah you'll have been watching that will council had ended on
spk_3: mission that so again with that gun got a way to organ can that on chasing ginger acetone what always happens you that you judge night ontario you you're on a convertible know google says him on a yoga home the treaty of and disassemble or could he she she cliff was showdown than sit outside as into of your mission at didn't got to don't teach all time to the enemy tank green and eat out in he had some been any that she meant she said so where we shall hold she is and how yet which anyone ashanti that indian curries on which you're good at the coats it and she said a number once you hello everyone in twenty twenty two x paying delivered more than one hundred and twenty thousand electric vehicles a year over year increase of twenty three percent and ranking number ten among imagine you be makers in china as measured by vehicle insurance registration volume throughout the year a challenging macro environment and increasingly intense competition in the any the market place to pressure on our performance i missed this pressure we saw an opportunity to become a first mover in tackling the challenges faced by idiocy and examine inhibitors to our business growth at the same time and yet of last year i rapidly and decisively conducted a deal about shadier and implemented a series of significant adjustments to organizational structure would focus on improving areas of weakness we have decided to start the change with ourselves and we them expect visit with a start up my said on an elevated platform with new angles
spk_2: i believe i'm saying is approaching an inflection points as we have clearly identified well both are and what our strengths and weaknesses are we're now building recovery momentum in ourselves and market share expansion as we do this we're placing a high premium on improving our organization and cost efficiency to fortify all a strong foundation and better position all company for sustainable growth over the long term i'll overarching goal is to make expand and leader in the chinese even market and ultimately when the global erase no issue vanessa or done his intelligence had congo has put your does it isn't that easy to chase elliott to get omission a show know with i stay shot at see that she with it she she will go found out she got gunned down towards romanticism ocean on monday what it alleges as well schemes and tesla tell jokes or since you for him died she felt higher to your says audience and gender since on out of water for in java hmm for the shop owners have you grew up shows auction prices how easy for that and good about them into cheese bringing in your sink holder hygiene and sit out on
spk_3: to via your shoulder teach hundred sitting in silver photo shop on a tangent and ginger it's article official digit novelty ago woman dae team prices are shelves of for them and eventually show coastal may yet tell them what each alice's have been yuppie and been done to know taunting and eyes and has a shovel soil as such it and it gave up and a and hundred going get on this hurtful to plenty of hundred your and to on it though to get shallow ago which has your way either soviets and kiddo woman a what i need to the shogun shouting we'll meet him to go says each how the your shoulder jihad elements was any good salary which has enough to hold a shell not houses yeah we're gonna what city it was a local to work one you for the antonio enemies or jessica show badinage ah and coach just you know what will we could use hosting cook lunges housing capital jody cheng intelligence from the what excites me is that our strategic adjustment have induce meaningful result in the first quarter of this year which gives me confidence that we will achieve sustainable and great a breakthrough in the next few quarters my first deputy organization a restructure shouted with changes and upgrade and all top leadership miss some meanwhile has joined our team as president of the company bringing us more than thirty years of experience in the automotive industry funding is taking full responsibility for our product planning and cells operations and is also in charge of our products last one management steam for its senses industry experience in the market inside and swung execution capabilities will help our product capture customer demand more accurately lol greatly improving efficiency and i'll south and services division at the same time the adaptations to all management organization are geared toward a flutter and more concentrated structure
spk_2: in february all design or in the production supplying chain and organizational management functions directly reports of me i believe that these shifts go significantly improve our planning capabilities and lift the efficiency of our decision making and execution in the coming months more importantly these adjustments have effectively refresh all execution and competitiveness for the foreseeable future i will with main focus on lifting the labour efficiency across our organization by multiple times though as to generate increased cost them a value with the same headcount and greatly reduce costs cloth a full range of policies through technology and management innovation so totally agree upon for commit such summer what daughter chrysler whale oh cool cookouts without jobs the courts high watches and process
spk_3: over the whole she does hurt him but what she does he will go by fudging that jojo on a pivotal judges who are double velocity hook cylinder you put his such theater the only one thousand said you commit yourself under your who yahoo talking it or they may yield she got a turtle don't you're waiting for joke one thousand two hundred kinds of posts about the congo thousand and ten not energy and on your genes and which as you on that point that they were thousand and klingon suit you vomit sushi musicians he said also on the job and yet you're watching to against the way courses over your woman a couple whose and will be the may us for the salty for quick and give the which we don't woman that seventeen grew up thirty and for cool food show you could always on with us it was chosen dodge out with on the whole she's also disenchanted single to a shoe food how kind of thousand or two with regard to our part of planning and design we concentrate on customer perceived value and product differentiation in our innovation will make substantial changes to future products model configuration mix of vehicle module i defined an inconsistency in smart features in terms of interior and exterior styling and define the meat eggs paying customers high standard for aesthetics i am directly running the stalling define division and building three teams that compete with each other to generate creative ideas
spk_2: these initiatives will continuously improve our interior and exterior styling and space define capabilities at the same time i incorporated the knack for of score or and ps into the core performance indicators for a variety of this is functions and required be back collection on a monthly basis the nps performance evaluation will anchor the transformation of our product planning design and development toward a customer centric pathway i believe our new products our oath he gave and new services to come will demonstrate a substantial progress september huge album it on joe we transit or just before the bottle she's able to the links towards our was it up into pinch your job townshend as a result jesus christ social sciences yes jesus and to do
spk_3: l or mean your white and a team or this downturn in school or of international treaty not and get a soda so a bottle and that's what a silly of project creek handle me over your shoulder to go each other so they'll shovel for your was didn't shadow he tells him that or your white and last shuttle lot lot of the and be involved wasn't able to thousand and yet since i judge how long put you than keep golf usually you the pc kirk he doesn't have to wait are those i want you that you have to isn't the needle diego she or we would acquire with chelsea the hearted in terms of branding and marketing will harness our poor differentiation in autonomous driving to the full extent and enhance customer perception we are broadening our addressable market expanding our penetration on thier one and tier two cities to tier three year for city so far we have completed a preliminary mers between all branding and marketing themes and refresh our overall strategy
spk_6: this will help us improve the quality effectiveness and flexibility of marketing activities in an effective way going forward
spk_2: lol significantly reducing mccann expenses we have already flatten out the management harkey in our network but a more we are enhancing our network coverage increasing competitive capabilities in our front line sell stuff and developing expand powerful data driven south price points in order to achieve significant strides in self growth sir yes sir
spk_31: wilderness audiences npc the things you rpg i just as as pincher that your digital jail for won't go sooner than other things out that pg i have trouble whole village and and deal with the journal don't bother to figure out you know a trade off it
spk_3: on local who she is on future that see that he answered juggled and to the amish salads me safe houses he would only use de da de da de da da dum chance and uses auction team done feet on t long as your yourself woman to jim b o channel mentioned easily shells some the it pullman the are you have and ashamed of didn't i shall shooting in that you've had your love was by the actual danger by straight up each i sorta kinda got and towns your messiah venetians in the new york one be or even your toppled agenda to go on the dutch him in yoga whole lot of the goods and don't you know i'm able to switch shell lot of on march tenth we officially launched a new piece of a nice sports the done which is an upgraded version of are highly successful piece of a model deliveries to customers have to commence in this month i'm pleased to see our into traffic and test driving volume both hit new heights in recent months following the piece of an ice launch
spk_2: this new products the smart features darling define and perform and among other clear advantages in by for eat with similar products will well received among customers amid the markets prevailing weakness in new order intake our result outperform the market our new order intake in february increased one hundred percent over the previous month put the strong momentum of of seven i ordered following his official launch we expect to see a considerable month on month growth of total new order intake in march this marks and initial success following our comprehensive transformation which is also boosted our company morale on a junior year of high school by machines hushing to new job wait i saw her to than show pincher that ginger the you do more says if apple than she will joe
spk_3: she knew the want you there are so that sounds like juggler jensen they are as you don't treat engine of the the it's you know what you have impinges or conjure she found social than lisa and dog on a shampoo or minute gyms uses feet onto was it only shows incident which i would say this is i showed up any change it about danielle have hobble what she does shall be pitching the other sunday the usual the will will hi joe that junior the shoving new totally like chasing dutchman get you to mtv to ones or john mandel your couldn't back home gentry choke then cheated on cool job at jogging publishers our second new product model coming up this year the g six will make it will make it's debut at the shanghai auto show it's official launch and vehicle deliveries who will occurred around the end of the second quarter the key sake the will bring the most advanced electrification and smart mobility technologies to to two hundred thousand to three hundred thousand grand prize any v s u the market
spk_2: with unrivaled interior space range styling and interior decoration we believe that see thinks will become the top selling model in it's market segment following the ramparts of t six mass production weeks back teeth fixed monthly sales target to be two to three times that of his p seven predecessors itself in addition in the second half of twenty twenty three will launch a brand new be he the seven seed mp p v
spk_3: this new mtv model is designed to cater to customer cohorts that demand a larger interior room while serving the needs of our family customers for a human machine copilot to leave us again trip to be destroyed any what i build them once in a neo nazi easy to your full color centers and which are too much into it all that a favor monsieur it builds that we like lisa gg barlow person and the over you know tracing that in a pinch it comical you but the up with love so don't just the of onto that young adult all your shin the truth is is shall we talk to him in geological java couldn't quite a language or else john it'll help when she does she really the young ones usual for shovel shiver year with google and users' you couldn't bordeaux will know you with younger children sheltered that give was little
spk_2: recently cats tpp t four point oh and other ai based applications have created a bus among hundreds of millions of users on the massive potential of generative ai models also very excited about this a represent a brand new phase of artificial general intelligence which on promise that with on premise that deployment that does not rely on cloud and which not only redefine the pathway to life autonomous driving but also increases it's efficiency given this the point the volume in there is an even higher possibility that autonomous technology further advances from l for to l five we expect to incorporate d p t technology deeply into x pranks business across the board to create groundbreaking user experiences and exceptional improvements to our our operational efficiency for failure shot person from under x and gp job way that bottle center so far to service as with both hushing just a movie for what has it and give you the okay a woman your or fortune young enough to transfer abuse the she was like that
spk_3: to that's a little she's up have i known she didn't either space that into virginia siobhan into aches medicine to treat you to survive and gp job to that you like causing sick you for gender a triangle follow sources ago says it the total that forget for townshend that's a job what i assumed and that the aches and gp mentioned togo on the your songs or make or the lease that she showed up such as yourself which as a shovel she said it's it'll just as usual when you would get your job where you know where it in late march we began accelerating the ot a will allow of city and v p compatible with multiple models in several cities including guam job since june and shanghai to city nc peace out yea we took the lead in math but using the transformer base
spk_2: d v ponzi with network or met in china which achieved a milestone in deep learning algorithm development and application and the second half of this year acts and g p powered by exmouth deep learning algorithms will no longer depend on a high definition map that says x and he he will be supporting drivers on more urban growth across over ten cities in china result from our testing showed the new version of and keep a clan gp outperform peers at all on road performance in a united states this leads us to believe at the pangs autonomous technology and it's customer adoption is approaching a pivotal turning point
spk_32: and work watching that said oh bother to show for you are pushing for south africa change or like
spk_2: joel tweedle to for me jealous iowa in kabul why they aren't you know how much that bother gold to enter into yourself over there for guy tongji cool to it did you know engines and been to sell goods it'll just under forty five hydrogen so it'll job for that a touching her will meet you told golfing cause you to know that you're gulping country that has a pinch it john team without whole trend has a huge a little while i shall treat total go free google total that get it yet that has been jail on monday junior send you to wait don't and of sundresses it's with on daughter would have thought that his a cold years a woman de chile and of engine the suspicion alcohol see once in a job because you have functioned as a with foolish in you both is a coach athletes and that you are unsure of function she's on a city powerful woman i just average mean just one for work since site trillion he doesn't that old you will make no way woman joan and the indian the eggs and gp okay agreed see golf shitty jobs than any in be an idiot the shorter wait a minute funny and email him away so ship your sunday and judging for yoda your genius adjudicators you suggest that says has made by going to
spk_3: he wants his will shatila yeah it's for the gandhi he wanted some that that woman you want mean yet aches and gb the phones and the other like your the engine on to mrs and daffodil the shadow financial don't an ally in jensen columbus ohio valley or egypt's and details will not treat golden to the trends in get so we siobhan a trashy really you not gonna bother you or your limits your that regional transit or jasmine what are these i want you to that you felt so hot much him into work your way way woman though your whole from that tree got a job in god you're on it would be the when with at a time sequences about when what's under ahmadi that occult we have built notable leadership and smart technologies as well as customer adoption of smart technology is compared with peers we're driving our technology will match and commercialization pathway to cross over the inflection point and week and accelerated growth curve
spk_33: while keeping high safety standards remains a top priority of our technology advancement will also be focused on rapid development to improve scenario coverage user experience and software and hardware cough optimization
spk_3: in terms of scenario coverage we have expanded the usage of the advanced technology from highway scenarios into cities scenarios where a death or used at high frequency and even the common central driving tool add going forward will size to said abroad and a death usage to more into when driving scenarios such as internal compound ways and non public roads and expand our geographical coverage from three cities two more major cities nationwide beginning in the third quarter in terms of user experience we have achieved an important psychological barrier a we have achieved an important psychological barrier for customers to use autonomous driving to leave drivers that is drivers can let the machine safely take the wheel resting assured that they are acting only as a supervisor
spk_2: looking ahead by get the flu continuous ot a upgrades eggs and gp solving skills will escalate every year and in two to three years to reach a level that is equivalent to a human drivers with three years of driving experience we also expect that the number of manual take over per one hundred kilometers will be use it to one or fewer recording cost efficiency we plan to cut ex ante p the bomb cost significantly next year and adjust our self model of one that bundles the south of software and hardware you won the splits the cells of software and hardware with is going to enable autonomous driving on all of our new vehicles and a lot more customers to use the latest autonomous driving capabilities
spk_3: in pursuit of breakthroughs in the aforementioned three realms will bring great value to our customers and build our competitive edge in technologies delivering long term sustainable revenue growth as skill and was improved margin contribution what's the coach you will get fishing navy and the your would and
spk_2: which has your will add a would enjoy the transit and just or joke shovel that don't and probably mention incentive to don't have to shovel that translates over the she would endanger for the use for silver that region go talk to them feel engine parts older people woman have been back said dollars shovel person that would anywhere jostle or that the this level of dodge as home it has been said that the past five year period was the golden age for a new energy vehicles i believe the next five year period will be the golden age for autonomous driving during the five years to come expand highly of events autonomous driving technology and our efforts in optimizing our organization and making up for our weaknesses will help expand excellarate all abilities to gain top of market share with the dungeon junior high agenda and player or know it's what i achieve his vision and she and the other than just measure thirty two thousand and she got have a great show shouted to the me what what are you will see how fate of the on soldier gets it gets jail told helmets from of three to you with the shovel she that too shallow no way or indoor a than the watching that i'm john paul what kinda double will hot hot spot which it was watching night to them without on it we didn't on a joke but joke from kenya has shop on it and good option type have been to juggle only the shuttle pseudo flu jabs at all right you just jump ball which would appeal to know that than is your job with to the show not could you don't you'll go quite a photo couldn't get some but were you what you will see ago they'll go on it's hunt thompson where your shoulder now when the going out with over the know or this or that could treat us again in a chokehold that you'd we have already yo yo yo how to out she's ever seen a woman which it said you hope he does a young woman am on a new job with the border teacher that that balls coalition than it also fussy are baffled or
spk_3: oh too but pinchas she would be okay we'll meet and city know from trigger such an illusion toward towards you fancy unpatriotic and borders or the for ginger mean susceptible justice the bottom but told them the war so that some the shadow suits and to the to be put in gender she got him but that i'll get them to so move that image you wouldn't gotten isn't that and gentlemen a sochi and bible yeah which lot and it said that you to shit on sheila for diocese into witch hunting time when i bet against widget symbol of faith a hot a concert do you think he said he got up to that she got old know how many in the face of fierce competition in addition to our leadership in a ton of is driving an aesthetic the sign while greatly improving our product learning abilities marketing efficiency and organizational capabilities i believe more powerful cost control will be the poor are competitive edge that wound evil acts pegged to secure his leadership in a market will advance the platform base approach and technology innovation to propel our cost reduction strategy and twenty twenty three were playing a full platform engineering approach for our be the vehicle perform electrical electronics architecture poetry system and eight us software and hardware development these signals that we are entering a new phase of carmaking in a unified system in this way were able to develop products with superior product quality and customer experience at a faster pace and at a lower cost in the past are aren't the strength were primarily manifested by or
spk_2: our leading product performance in the future our aren't the slayings will be underlined by maintaining the leading performance while a heaping remarkable cost reductions we have mapped out our strategic executed road map with associated cost reduction including and over fifty percent decrease for autonomous driving cars and about twenty five degrees of for a vehicle hardware costs including power came over to twenty twenty three to twenty twenty four period by names such as technology innovation and optimize configurations i'm pleased to see that the defying technology or indeed supply chain and manufacturing themed are now working in a synergistic way to make our efforts and products more competitive with through innovation
spk_3: the in your the joker over a trinidadian federal judges have will have some suburb of them in be a quarter that you view all time favorite junior on you or malloy whiter they don't have an advantage of totes woman torso thought out of saudi go to oh goddesses darts or something to do reaches over that without a time the time the i do pushups night don't worry for them up which i into your way buffalo shadow that smokers pulsar woman a you of officer job which will treat york strip four times he treated ship is you know you won't will cook answer is you sort up be okay efficient pinch german would that we watch him as a huge without italian what football that she got her new york he showed needle to downtown over that show that is to or you're on your porch richard she got get shot shows you junior sure there's all kind of conducting addresses so that your water managers will without without actually a total sham and and cause it was she hello musician reality show
spk_2: in terms of cash liquidity our cash on hand at the end of twenty twenty two amount it's you over thirty eight billion are and be as we have nearly completed our investment in our to manufacturing base is over the past few years including the of our cat packs will decline substantially we have also established three a powerful vehicle pluff one that can support a few years of fun new model launches over the next two years are are indeed will further concentrate on initiative the best correspond with long term trends and further differentiate all products in terms of customer experience and cost will also pursue improve not operating efficiency do out the entire process for example within ourselves cells operations we strive to improve the same thor efficiency by optimizing our store network we believe these costs optimization efforts will start delivering material result and beginning or in the coming several months including in the second half of this year
spk_3: that's when the seasons will never put our faces
spk_34: it's as your may this year or the also it out and get a job hunting this you
spk_3: how should i for treat your could you gotta be a vocal or i woman have we will disavow fool federal i just hope that engines or abortions and forgot were more your such or that you wait a second will be open for that shibuya ginger next time ship for climate chose him at all to be on a lot and should i
spk_2: though your quinn and to the bull shit it's all she's again thought he opens into does it will hire suggested she went on to the shadow you treat your that to your liking for was yelling what what a good boss and nukes or wanted lot of it it has always been my intention to build a successful company that can grow in the skill instead of a small company in a this markets or just any generic company out there expanding our skill and market share to achieve economy of scale in both of were and hot where is the primary goal in
spk_3: our long term strategy although the park and management adjustments cycle idiots hot the automotive industry it's more difficult than other industries and takes a long appear of time we're still willing to sacrifice short can sell and more patiently pursue greater victories in the medium and long term
spk_2: tissue say the woman thousand and that was over forty two quarts of the chosen you don't own that some insoles a sponge or less and you do that have over this york city them or you cannot of course you know cards will be a of show will cheat on occasion torching and fungible has a shovel she the shoutout yahoo kind of form of you cook one people baffled and ginger job op going higher though exciting lead as we rapidly implemented just month and changes to our management in addition to instituting a host of upgrades and aeration in our product portfolio and marketing capabilities we have seen encouraging changes and positive results
spk_3: i'm firmly convinced about beginning in the third quarter of this year i expect monthly sales numbers will achieve significant growth both sequentially and year over year as well as be much higher than industries average growth rate what's that the and shovel dodging the jail for the of hard young widow that soldier champion initial tumble than the new that years of the key largo sealed says she dug for illegal fincher such as gorgeous just so that doesn't dollars or jostled eight oceans i'm kinda treadmills us
spk_9: which as it's highway kinda shy injured says shoot when you know awful that ballpark introductions on what data will dunaway logical move our front frontal
spk_2: february digital that job with elementary cheap the audio thunder digital metal jobless out your way you a passion for you and your tenure soldered you wait let me be assisted us of are you
spk_3: i would rewrite of that our current focus is on building and improving our capabilities in organization part of the sign marketing and costs control continuous efforts in lethal leaning management and accelerated new product launches in an era of autonomous driving will lead us
spk_11: to the next level of exponential growth will continue to strive for the skull love me respect all total vehicle deliveries to be between eighteen thousand and nineteen thousand units in the first quarter of twenty twenty three and revenue should be between four billion and four point two billion i'd be two that are semi your and as i will repeat that of them will die digital or yard which ago think you're in the one how now and over to our finance bb of vp dennis them
spk_1: thank you mister her and how i was ny were like of her by a brief overview of our financial reasons for the first quarter twenty twenty two i will refer inside the only in my discussion today unless otherwise stated
spk_11: our total i'm used to on be five or one pm for the fourth quarter twenty twenty two a decrease so thirty nine point nine percent yoga year and a decrease of twenty four points it up it's incredible the quarter revenues from real good sales were on be full point seven billion for the fourth quarter twenty twenty two a decrease of forty three or four month it's and yoga year and a decrease so twenty five point three percent on the last quarter the yoga year degree so many i attributable to law real could be waits for the yard chief three and p seven wild a plot hole the quoted becuase was many you to law real could be the race for the p five mp said it was partially offset by the newly launched it she nine ghosts module was a boy said have had them for the first quarter twenty twenty to compare was top hats and for the same period twenty twenty one and that employ fight the same for the last quarter we the margie was five point seven percent for a fourth quarter twenty twenty to compare was temple knife with same us and credo twenty twenty one and eleven point six percent for the last quarter the year over year and quarter over quarter decreases were many spread by to increase self promotion id fences will i be one point two billion for the fourth quarter twenty twenty two a decrease the it pinpoint people say you have a year and a decrease of seventeen point nine percent quota of a aquatic it the eel the yang quarter over quarter decreases the many in i was timing and progress or new vehicle programs
spk_1: as t and a expenses will i be one point abt and forty four quarter twenty twenty two a decrease of couple nights and sandeel the year and and increase or a person quarter over quarter the eel the year decrease was many due to a decrease of the commission paid to defend tried those associated with
spk_35: villa vehicle to do is the quarter of a quota includes the many attribute of to a the most you know and advertising expense to supple the was sales as resolve before going last one operation so what's the on be two point five billion for the fourth quarter twenty twenty two come here was on be two point four
spk_36: and for the same period twenty twenty one and ib two point two billion for the last quarter menlo it was too i'm be to point to be and for the fourth quarter compare was on be one point three billion for the same period a year ago and i'm be two point four billion for the last quarter
spk_0: as of december thirty first at twenty twenty two all company had a cash cash equivalent they see the case show ten deposit a investment and tidy profit in total i'll be thirty eight point three billion to be my for for alliance of our unused coal i we encourage dishonest to the for it
spk_12: to are unease press release for for a details of our financial results for the fourth quarter and we're twenty twenty two this country without prepared remarks we were not open a coat questions operator preschool ahead
spk_13: thank you
spk_0: to ask a question star that one on your telephone keypad and went to be announced if you wish to cancel your request more than two if you are on a speakerphone you will need to pick up the handset to ask your question
spk_14: where the benefit of ah participants on today's call as you wish to ask your question to management and chinese immediately repeat your question in english
spk_15: for the sake of clarity of order please ask one question at a time management will respond and then feel free to follow up with your next question our first question will come from the style of morgan stanley please go ahead i got eaten in the hall he invented is a with you and now we're that went yeah the the when he's his own heard she does our bodies and emotion the to this is hunting and cause you have a your meet to dodge issue cunning and the or shoe line dollars as like to begin with so much as a home she said his geology teach others are you serious challenge like fence on the alejo than he he does year kind on a us law to hiking city the people that are beaten and situation it into the can pay the we are to that he quit now over micheletti quite engine go to the your budget or you'll see i shall we can look at eaten dealer pundit ago she to do have ali g talia towards other challenges that he let a long time to falcon undoubtedly that you really don't gel dollars i when she typically see oh shit i'll talk of national intelligence want us to let hodges added hanging on the civil the wage or something in the detail because teaching easy to her typically just really
spk_2: and so my first question is about the competition hard to get them like it with biting up i said minolta two hundred to three hundred fifty thousand i'm be worth thirty to fifty thousand us dollar ah a effects and destroy the whole and the keep on and driver however if you have a cat what happened over the past few quarters or a tesla you be stored up
spk_16: oh i get even traditional carmakers bp brands i get a more aggressive in this pricing segment on an outing yesterday be what he does agree that done is high he the entire time get my hard to focus on the two hundred thousand plus my kid and cat on my consider it cars are having another braga price caught so
spk_2: so how do how do you think about the competitors capping be prize in segment and how could extend make sure that his upcoming models including t seeks and about the next year it could stand out in a crowd of competitors are where we be more uprising aggressive ah with more medical costs down on quarters on so that's my first question peggy sit here in a hotter went here it would you not fitting dog you don't ya know any man a cheesy teaching di chandler nature played poker payment shields her claim and they treat true that it held on television and to her of indian ocean of a t are cheaper your fancy lot and would sound seen and don't against it it's how you doing against the sounds are you had a juggler you to tango hook thing to do and an elimination diet shots amateur thought they didn't on super fancy for don't you go by sharing finances and that are now that it's english house as him of us if we don't take the can teach in no way more your shin guards ozil as one hundred of them oh and aware i would he what was a shop undervalue testable ten or me quite mcqueen morning until we want to hold on with the me tonight our economy or josh how you're supposed to know just he found the only other fertitta to your city and with encounter way zero two two hundred eligible of financial from evil timber see not that quoted up again shop that you housing from yeah we're gonna mention so television and film and nazi dog a woman young woman jam session kind of time yeah neither eyes are sort of thanks the language or area which regeneration that was shot her an arsenal i i for one has on to found that chance a little colonial faith to order to win over capital gym
spk_3: of and a border guys and shouted have them for eg and will be out the trial a couple job that i yelled at him but you have and date good enough the end of october fate say without us again email which as a shovel your financial decisions that know what i actually just it and she said agreement with without twitch and yet since trinity that's a civil on a meeting play that the tunnel home in a guideline choice in question facing us eg i shall learn to jot them a true teaching that your kindness is how they can go to do it to the organisers and year toy shit thank you for your question is a very that one basically we expect the markets you are experience a series of price cut by different no yen for the coming couple of years because of the yes dear intensifies our competition or competitive landscape in the current market especially for conditional or was the he kind of or carmakers and because ah we expect to see a lot of the oversupply of a capacity and the market as well as are some argue reduction in a mall material prize in which will be a good foundation for different price cut to be expected in near future and as a result are different brands and different players in a market will launch a series of price cut in order to expand their market share now as i mentioned in the prepare him and lot of that becoming for parties for expect if you are optimized organizers as well as to expand our scale and addition to that we offer will continue to improve our autonomous driving capabilities as well as
spk_6: optimizing are defined language now next with our we also will perish highs the costs of to my face and i'm in the past we mainly focused on the development of the functionality than the overall performance of our products now when we expand our pies are in the target price range to cover more than two hundred and fifty thousand and three thousand
spk_2: you actually a little bit lower to two twenty thousand rmb we realize there's actually a lot of room for improvement in terms of cost reduction for example just to reduce our overall been costs are in the are in the sector and also to integrate our software i'm in an aspect of our software and hardware define as well that's why in the coming future you well first of all paris hi id audience scale ball a man as well as improving autonomous technology and overall product are quality and performance ah while improving our cost structure in many new areas especially our to be reflected in our newly launched our products or to the spy kids and also we will we will expect awesome strategic price reduction in the near future as well so as to expand our market share and promote deliveries thank you what a new world boss familiar all of us to yet joke without insurance or what about your junior and i doubt of the shins and eg edges and she the annual cheaper cause that's what else would give that ginger one take on know thought that the old was a gentle yoda sailing ship of him pay that on was shown him or that would a whole can of the arsenal
spk_3: and what us naval couldn't feel full josh the job to you if you wait the to nibble watch the show idea has it was like she's lying it that she the losses out with our sword and again towards hotel that's all gone and little what i couldn't treat you little of for without her allowing it the job free new world shovel that shooting at have that advantage of any of it
spk_15: issue know it mailed he could teach for the ginger women for teach would allegedly will come the mailbox on and go for such i put have whatever was already to the or attitude your faith a woman no way that sham in a wood enjoyment census in any way you're criticizing pinching culture young girl called to autumn shutout shutout on the either way more tail current engine which awful opposite of would get a date and this is how they didn't just eighteen the name chicago looking back at a know two thousand and seventeen at there are about three hundred are carmaking start ups and seven or seventy or passenger vehicle makers in a market by now there's only fifty players left and in five year plan maybe there will be less than twenty five and and tenure time less than ten which means that by a good time that the and who deliveries of each single carmakers will not be one hundred thousand fifty or or in a half a million seven hundred thousand in need to be at least seven million in order to survive which means that we need to have a solid foundation in terms of our hardware and software capabilities as well as all costs control capabilities as well in order to justice of live in a market into fears are in intensify competition not you know letting alone becoming the winner are in the competition from that is why in the coming five to ten years all a power as he will be to solidify all the issue in all which are a logical aren't capable of the as well as our cost control thinking
spk_2: i'll go through so guys years ago little juicier to show know what they're going to are shown she doesn't require you to shoot out you quit that as a teaching of ready for you have a soviet union she got all these it's what you got her other get body years old eighty dollars you go social mobility to people that he won't new condo according to your senses she's hello should answer that you would be censorship and on conan cheating it would go quite a good job you don't tread able to treat all huge lg shitty this option that's the teaching or do with go to college or they chose others shovel she's that for me at the dog her to if she chooses she that she's hot dog will meet a century and going to show that yet to your job go quickly was shocked at what music idea what is it can be some your beauty you told you so my second question is bout de ourselves network i could you please help time to update as the expense to channel strategy this year i'll add your one two cities cities diverse be that is strategically critical odd they grow the to go to see the in china was and el pais hada hired to cds and be called a key ghost rider on so quite quite a few tv makers are talking to reading to the north you cds on so how's how's expo going to grow expresses pressing the military geocities cds and in the meantime or weird copy ah june and on his hybrid this moto consisting of the direct sales in the dealership or will be a or any mature changes are coming quarters or that's my second question thank you tissue or machine neither thought often thought father you treat other year and your tiger oval say that adults it on average for two years or sources at hollander once you know which i have very true deleveraging and that's for real without getting a divorce on shit i was out he got of the show on her way to shoot at seeing them so chance for generations him tweeted chip which as as the joke was a soldier in a shelter to go to the yeah we're meeting for lot of money pit pure hot goes on a patient is to go harder for
spk_3: he called seventy three daughter taylor you are hundreds of and shouted said of inching and that your faith home for ya to get to and up and your job ten traits to judge image shelter that you don't get enough than daughter say school neutrino dark chocolate lemme thirty that games or tormenting nations that sentence age and true through the video collection so that children as heard it a seat on the hydroelectric power as me border she ages ago other what are you and taylor wentworth open and of just a little me or you get as for you for mean as it on of would always her ah the ice shelves in a trade creator surfing are hotter to shot and of have oregon she won and go to have a look for damage tell still network where gonna just says
spk_17: thank you are our our newly recruited as senior management member on this one from being as he is way more experience than me in terms of channel distribution and the a one month after her a moment he already had numerous numerous discussions regarding our distribution our channel on network your problem and so for
spk_2: didn't your we have several strategies in place already for about we will maintain our current model of having are direct he won him french fries are stored in order to promote ourselves and distribution a however the big from franchise towards will increase arm and the second point is that we have and will continue to flat in our our management structure the rescue improve the overall service quality as well as to improve the profitability and efficiency are off our distribution channels and the third point is that we will actually expand the functionality of those kind of channels to include not only south of this is where functionality but also to increase for a function as well as well as you so as to
spk_3: provide a more classic concert our comprehensive set up services or to our customers now one of our upcoming next steps out which i can be viewed right now is that we don't believe that it would be very effective to have a large number of a small distributors or small channels lauda we prefer to powered heist the development of quality time no to improve our a rule our service and distribution efficiently thank you
spk_15: i'm a boy he got ones on
spk_0: a on a select number of going on in one of censorship three dollars johnny that she she on which we out on the physical but pledging you also have and that's how he will hot are you were called you going to go so are you suspicious with only the chicago hospital ship or will go on such and such a hot his will
spk_18: watch it a lot of that will at all ages shit regarding the second part of your question which is the i channeled the network in tier three tier four cities birth of off ah we will work with our partners are to expand the a channel and work in addition to that we will also defined in and now kuwait are probably products are suitable for the a three year for a city and we do half hour them facelift products are upcoming to be like to thank you
spk_2: on the get usable with asia particular much fraud or else i'd go up the shit the next question comes from paul goal you bs please go ahead a horse shit all conscious issue with on h out what do you call when can i saw the height your shirt on and out to go for the into go tell you idea how to the you you buses are not your what's this is sunday your how she also with how patrol which is legit like to feeling confident in the under all conditions the shop which is anemia she say any mint tea and to see foot on our knowledge on do you shop peter shocking she forgot some toronto to the other people says summer it is also talk to other you book i don't have often month or so firmly on fundamental problem of guy my first questions regarding say i'm under a rival of the on this one from saw new role as a president was behind our biggest criticism on diazepam omni mouton out for the situation and what he is harm plan to change it earth day findings in atlanta that guys you go by years ago
spk_3: but you know they concentrate on it and achieving do current it i said i also get out and even alloway a woman that way what she says that show some it nailed him to go a lot of a little ones on that to up say potter
spk_18: table two titan of color was created you have a part of that comes with hydrogen floyd visited for before the my history that will help manage our home and ago now suppose it as are optimal solution a hobby but they were gonna nettle watch it out a yacht is that are you building that shit the much and a genuine a dog has attention in a whore now this is their interesting question to i'll miss long has been with us or has arrived for more than one and a half months her biggest criticism for a company is twofold first one is on the planning side and the other is on sales and marketing am i mean this is definitely very positive side because it is better to see the problems and have delusions rather than ah you know being fully complete without being a root cause of the problems and so right now we are in ah you know full force at you are correct some of the mystique that that we pee wee pads arm and personal league you know i feel a lot of pressure of
spk_2: on this wound because he is are working seven days a week and right now we are all following this trend yellow bob being very very diligence at work as though that is a lot of pressure on the ah the know what global in would hide your coffee shop on two dollars your situation to go tpg that you got on we observe what know it yet i'm gonna do what action today on trying to books and she's awesome and ego you your aunt know what she's open to go see how he shot your for me and go some from you got you into the you go somewhere the function
spk_16: what's your favorite useful a punk familiar have no idea what i'm good on goes on for me out on a key and on each i think wasn't onto the hide your own civil sure we'll get into rights issue about which was young and but you don't go since i do for your has emerged someone should support to the wind kicked off from a second questions regarding our your interesting comment on the
spk_2: you to talk to patients into a smart vehicles okay you give us some kind of some example how do you imagine such kind of technologies to be us the in the long con are you smarter vehicles and that is so on his show we pay for some time the court your own a t all and have fallen on hard a gorgeous or recent see on that he was as in shock once don't you just north of that
spk_27: the into that
spk_2: i thought it so sort of gold that you know that supported the thought it was year though wouldn't justice or father she thought or you children children that doesn't watch on on that than for me
spk_3: our agenda jupiter as you want you that pushed into yours
spk_37: she should i do that
spk_3: see t that than a bushel juggling been in get support was as in there were no seats will they'll fall in love with options and it's a male for censored that going into they'll fact which of the that to data tweedle table food without telling you when you can you keep it he said she the new got the you which is a full will fail with your tv couldn't sport and as old concluding that are not just for that julia for the that a pseudo when da vinci the higher wages and quite so as that the engine you in india hold on june thirtieth good idea that than trying not general not it as a young for you to toll on the government can on the they gave had to be key that she thought of like genetically hi i'm under naughty that she more than i would suffer
spk_19: will it will have another don't walk on over your dog or to depends on that she's she's wish it little with a sunni militias know someone that don't that feel i feel genesis international your board yada for the whole the that over that time teachers and one else either on the woman and and watch and as with a woman the feelings on the fatal
spk_0: on think if we a question and i'll definitely touchy pt and related ai technologies will provide a lot of values for on me term
spk_15: and long term development now what we look at autonomous driving technology or capabilities are be lower level one medium level are kind of autonomous driving maul he always beat the conundrum have been not martinez as human drivers because cars definitely can be very capable as the driving vehicle but in terms of decision making a lot of it comes down to add to the intelligence level so the fact that had tdp ai technology allows on campus deployment as well as cloudy and connection will actually be a catalyst in terms of the development of autonomous driving technology all away from level for or to level five not in terms of the a potential fee or loss of the dancing to technology africa while we will look kid be near term application in the software side which will be yes much sooner than it's application or the hot were aside because it's application or in the hot were were talking about integrating the software together with a hot were which is quite a different story of from applying it on the software thigh and we mainly will look at some of the a key areas in for example which case in and all the documents father seeing language processing except shop arm and definitely we expect to see a lot of variations are of related had tdp had not a t p t technology in china and we will select a white partners or for x in the future according to our developmental pathway to and right now we are in compensation actually with a lot of potential partners and the are you a macarthur the to the potential cause even a we believe is quite minimal thank you
spk_20: thank you very much
spk_2: the next question comes from been long of credit suisse please go ahead i clean a whole point of view and even lucia quite a month and genome with you now comes as well as the go on the neutral to mount a number going to assure production from off or some cancun so you movement teaching a puncture says you are super size me the scope it on to minnesota and superficial abuse for egypt we are a future conscious as you are shooters as much as on a minute though we did i see just have to deal and she giggled a good example consider teach your image of the on i'm teaching on can to show them some people saw on the consumed he wanted you to that's how we got a bitter holiday he got saddam of email twenty one years yeah should you to welcome completely young so saddam i know my way to them did see my not actually got to consider them belies the by your cause deduction is the messing about with the pakistan cop in the on be called component cause they're amazing keep me motifs him about how he kill it you've got put on with the you use them in a good guy costing to
spk_21: to the cost cutting for is a very important a second concerned about a two night i do not have been doing no good reason
spk_2: that previous you think on a team that body will be even higher than in and on how you can maintain the you know sales for momentum and was the or antenna patents own agenda and kids so the
spk_38: so i would you not summit jumpy paradise all for that bill
spk_2: patricia aunts and uncles it a little with a whole
spk_22: noodle felony for for that he was from yeah i'm attaching and up and junior associate bulk what with guess
spk_3: need a woman that had that it's and to the pack of them it on a carlotta she know how hard it could have little job the was too patents him the way elements in that location good up
spk_39: also do or say that isn't it cannot that each other woman at them that as your holiday
spk_2: oh jesus and the whole on creep up getting the you and at against in the some of your shown on tough little as see the legitimacy that that that that only updates or check where you more told able to feed on that a little while woman see her that and that's what i said little just how that don't die detail or color at cincinnati with no shit the when what edging in a cabinet meeting somebody aged opinion and in the she was inserted on july the shut
spk_3: twelve inches yeah specifically speaking our the costs which action target of twenty five percent is not in may might not amazing per se or but he definitely indicate that in the past you know we definitely still a we not doing that another either thought it a lot of room improvement in terms of cost of production and right now we're seeing are multiple ways to actually yeah it would use our cost of mom and affecting an overall production for example as you mentioned you know we have awesome new technologies and are hopper the integrated ah stamping techniques are that can help us to reduce the cost of manufacturing the whole quite an awful in terms of a pack of the have be or the whole vehicle as well we have as and viable met dollar
spk_0: you can help us to reduce the costs by about fifty to sixty percent in addition to that are in terms of the overall i see them better we are we are now playing or adopt employee or adopting the young whole vehicle platform engineering techniques that can also help us to drive down costs as so as a result there is a mix of methods and of later of wave for us to with
spk_15: cough in terms of our poverty in you know overall a whole buccal platform and engineering or architecture are scale and also different configuration as well
spk_24: so overall are in the coming period in the second half of the year first half of next year and other the second half of next year if we have said i'm a set of different on developmental stages goals in terms of our cost reduction and the effect the can be expected and can or you just you are no it doesn't she
spk_2: that a that you will be all a jet ten said and don't she's heard a like he thought he later told me that i gotta tell them that the world has entire season change your that's the whole we'll talk of don't have over when your open a pages to nepal or three the whole meal and has a awful his e o x and gypsy that george bush in the peachy i some it but when it has she she does have the shovel you want that situation that you didn't have to out in job or to hold a candle holder kobe's and that gay dollars to ship and tulsa okla thing a shelf hold up package i fall the of or say that you don't have of the whole men get the day the logan you don't believe in the shower that and what she got to those and that you don't believe you hard as you say say of i mean if cz to college your shoutout shall we are if you're you do and to the public toby the that woman she forgot it said that she was and teach yoga you know didn't see that emerging in your nato or that would have either also should i your child and and light district at that ratio of pneumonia says
spk_25: now in regards to the deliveries are of the night i just really in the price range of three in two thousand and or indeed among all the as he be the rifles or there's been a lot of challenges in pushing itself however you know in the near future we did have far as we do have are several moves in place to boost i still a
spk_27: sell deliveries the first one is that we're ramping up several configurations and a second one is by are implementing the x and u p function on unseen i as well as on piece of an ice which we believe that will greatly enhance our the effectiveness of the nine as a our product in addition to that we're now getting a lot of positive feedback from our customers
spk_3: have a received thirty nine am in terms of the upon a quality an overall performance in addition to that we believe that the launches our of piece of an eye as well as she thinks will booth for trafficking in all sorts as well as encourage or in part interest in see nine as well as part of the your he applauded line ah in addition to we are not already seeing you know out we invigorated cells or deliveries and march compared to the month before which was a february in the markets and so we are still very confident that wow weekend that your we are in on the right trajectory to meet our delivery target which he nine for the year good
spk_15: the next question comes from neck lie of jp morgan please go ahead how she didn't see suited to do that she would or would know down the wouldn't be a bigger one be some good things are you going to the hundred feet and good job with a wintry oh do that by the the beautiful people go to bed with a good to the city could kind of look for the bear hug you mean by the dell good can be so maybe don't jump you know what i'm felicia him
spk_2: going in much you can particular the ghost of mocking sense of the compunction for your earth cooper with the block on has will hide this will be awesome countries the whole lot of money with wait it out with the gulch we talk with the got one shot young the dwp says visit a shit what you unifies so hm correct male mapped out have you will never got much was titled or what you did that ginger a judge ordered a david up to your order to the table change it or for your your doctor cause of the toilet is over at tulsa whatever the junior shop ownership shall feel pain didn't shout a chance at home in your condition that show tesla a majority of fate of the country that is that every color that in canada or manageable you had this way engines hundred number you know the shot him but the are as such it or chatham county that what should have any matches the you will fit on top shouting that on able to they will be nurtured you know about and will travel on a show called a shelf to the woman and date to the which is what it is
spk_3: i'm i think our what you mentioned in your questions and like a adding what you mentioned in your questions my ah be bible you know fifteen years ago which was that you know you can basically sell anything as long as you know are they are cheap enough however he might not work today are we still believe that our part of quality speaks volume so awfully this year in terms of our overall are mocking and pricing strategy you know we have that have a different of glasses or goes ah for for example the second half of the first quarter as well as for the upcoming several quarters of the year so are we just know leah expect a lot of fun or reinvigorated our delivery or a cells outcome for the rest of the yeah pacifism can go to the went into the went into the gym you into the do you can do the to to the samuel goes on the company's itself and yeah it's you to go since windows that in it's easier than going some kind of you can your your you will be easier to consider your home to the some fun with i'm lucky something that is considered the good comedian who the contents into your difference in a people condemn the things up
spk_24: as as in side shooting it
spk_0: that that you up against a juggler your capital southern us all day when don't you go your feet are hotter the harder to convince you that of your forgot to tell that annoys whole junior high school
spk_26: i guess the jungle hi joshua just and let's hope homework and i pay as since how that gets me and up in told a gentle for couch at a table of a juggler than that that they wanted us as he got a it's a little higher for you can get in the how couldn't get tweet on a tendency for that so
spk_20: on angle shelby and don't you agenda for shall be or she they have been challenging than the toll on emotion as will go on and off was whole that for go my shoulder elements of evaluation
spk_26: woman a joke we shall be hung it up juggler cleo couldn't baffled shushing
spk_15: at that would cancel kind of to it has to change in since couldn't share the you sleeps with a good dynamic as it at all of it a label region that shout woman at the live at home depot again true guess
spk_26: had for the shit it is in a high canada your feet underwater on the the and sit at home you off publicans sang and incidents for vanity any off to was she hot average it was all out for young people given a little of how i was a soda are so the she hung since issue another needed she gulped a senior don't of didn't know whether tape only your feet on average and unicorn yeah i get her today that would add a sap david york dog had shop
spk_2: i'm not a reports to la barre supply to first the ball in january last year we thought our pricing inflation happened to in the industry which really blew are encouraged to the development of hybrid vehicles in a market by rotted much you know that ah but i heard a lot of development and be de facto however this year a we are happy to see that the uprising of berries i have come down and these are newly bought our newly launched our price was in a or led by a lot of barry makers a flashy the us it's that lowly a very good assigned are very beneficial for development of obese and can help us to improve our pricing compare
spk_27: written this as love now so far are based on our conversation with albury suppliers we are confident that the price reduction or the degree of the price reduction ah you know bob i shall plan supplied by our eyes supplier partners will be a more aggressive than the industry average and that's just from the outside looking internally we also have
spk_2: on discovery given ways to optimize our cost structure or to reduce our our a class in terms of the apology in our power better use as well as are packed by for example integration as well as your integrating some of the parts as well as replacing ah just an old ah and cmr and yea aberystwyth allah p a battery is also by extending ah the ah usage or dad driving restate has supported per battery by about ten to twenty percent you know all of these ways can help us to for a drive down our barry costs and you can actually see the effectiveness or outcome in a coming twelve months on decision
spk_3: the next question comes from mainly of bank of america please go ahead as as it is all the t one and i was an incident go into that ego and he knows the glades ago i was in tempe that you oh gucci are your teeth and console t go to go home key to the to johnson who and so now
spk_26: listen to pc do know somebody that she on a pj's and so she didn't think that
spk_20: was my some know june such as a result of the on to deal competes you'll design thought you guys that bitterly so chunk of an absolute you will have it has it has you retire from someone's of minimum and so do those items it's of judo defense and been don't have a nice you to some degree of they seem to be suppose of agencies sensational own to and eager of each
spk_26: so now we'd be be repeated of kids you will be joined by the end of compartamos or not wishing for you have to deal and himself oh my first question says regarding our planet products competitive business or flaws cheese sticks because of measurements you just mention of that effect six in a future to stabilize the most he cells could be two to three times or forty seven or that it because that she's six sizing and similar price segments of up to seven so oh police no prada competitiveness to give you the confidence of seasons or the deal with a photo of that to reply to visit a gentleman it for male politicians and on that point i see it so shot in a fella to downplay it
spk_20: chance chancey knew that a sudden okay it's an urgency that such an event at the shore she knew that she wound up the new your the fade out that followed up she got your majority thinks sheet at all said it's had a don't if you hot it's own yard or media autobiography on up was young now are you to you have in a see i need a t shirt
spk_26: you will know i need a to for city
spk_2: on the phone older than me trade two hunter a she always togo and the chateau are gathered at the to enter the conjure and be woman or your sound local gateway bad faith humble thing done it without whole lot of on you if i can do the klingons dances or above it i've had an able to thousand see how that white house in that's it i wish i knew that at the which it out for yeah change the a shovel that either pulled out a twitter feel that encountered that she had a congenital that made us in our enjoy your fate analogy of ashes i'm apologies i really cannot with you too many details regarding our yet to launch models out and you can expect to learn more about she thinks in me to low april this year i'm in shanghai auto show up at something that i can mention about are some highlights and he seeks as first of all it has a longer driving range supported by our optimize weight of the whole vehicle driven by our integrated stamping technology as well as better he manage men are and when businesses are management technology and as well or in addition to that the interior space on t v eggs are is an hour is amazing
spk_3: exactly easy you are looking at the second road of the yard the car the seating area is a pretty spacious and another characteristic are tg think are highlighted is this athletic the define language follow the x bank styled our which is going to be very appealing to our customers and can isis you know that you're going to sit and get some guy not gonna say someone's on the t docile a mission i can see have seen that a packet it's you somehow yields ago gets his innate if you have other i a teach myself and others such as is are looking months ago i shouted at a teacher canada are tending to go before the only meant to see ya sounds to the top i taught young audience that a pathetic attempt now so now teach as a motion some gems data just have to ask class on again
spk_30: sit at home and some back as a teacher that getting than a pattern be guys it's of young not people have beat up was a god of are a lousy to don't attach it to the to the to the as it to that in some you stop jungle to got out of me to have a cop isis or or to see more chance at a shiny tennessee to nice detach it judas to
spk_0: got that he weighs on changes away like department of a vague answer t so now liberals hate tyson appeal tale of dental up reality was so sassy odds are gonna die into that densities without it does or that the ago and so my second question is related to of
spk_1: edgy technology so in a future where you can see the to use a different type of apache for example i can't seem to call a type of magic and a besides that by regarding your current elder elders take a lot ah jeez tonight at you already provided on a high voltage affairs chatting patchy
spk_0: oh funny stuff on he said racial on high enough or if he did not than the high enough or is this because the charging infrastructure i still not of mass or
Disclaimer