On August 26, Beijing Chehejia Information Technology Co., Ltd. (also known as Ideal Cars) announced that in the second quarter, they incurred a net loss of 1.705 billion yuan (RMB), a shift from profit to loss compared to the same period last year, with the vehicle gross profit margin decreasing to 9.4%.
According to the announcement of “Unaudited Financial Performance for the Second Quarter of 2026” released by Ideal Cars on the 26th, the company generated a total revenue of 25.667 billion yuan in the second quarter of 2026, a 15.1% decrease year-on-year, with a net loss of 1.705 billion yuan. In the same period last year, they recorded a net profit of 1.097 billion yuan, making a transition from profit to loss in the second quarter.
As reported by The Paper on August 26, the announcement showed that in the second quarter, Ideal Cars delivered a total of 98,300 vehicles, which is an 11.5% decrease compared to the same period last year. The vehicle sales revenue was 24.067 billion yuan, down by 16.7%, and the vehicle gross profit margin was 9.4%; while in the second quarter of 2025, the vehicle gross profit margin was 19.4%. Overall, in the first half of this year, Ideal Cars’ overall gross profit margin is 11%, compared to 20.1% in the same period last year.
Regarding the decrease in vehicle sales revenue year-on-year, Ideal Cars stated in the announcement that it was mainly due to the reduction in vehicle deliveries and a decrease in average selling price.
In response to the weaker performance of Ideal Cars in the second quarter, market information and investor relations service provider NAI500 stated on the 26th that the company’s performance was weak, indicating that the high-end segment of China’s electric vehicle market is undergoing accelerated restructuring.
Public information shows that Ideal Cars is a new energy vehicle brand under Beijing Chehejia Information Technology Co., Ltd. The company was founded in July 2015 and is headquartered in Beijing. On July 30, 2020, it was listed on the Nasdaq Stock Market in the United States.
As of the close of trading on the 26th, Ideal Cars’ stock price on the Hong Kong Stock Exchange stood at 48.1 Hong Kong dollars per share, up by 0.88%.
As of 5:25 Eastern Time on August 26, 2026, Ideal Cars’ pre-market stock price in the U.S. was down by 1.3%. NAI500 noted that this decline indicates investors are still weighing short-term profit pressures against long-term market position, and the stock market reaction following the release of Ideal Cars’ performance announcement was relatively cautious.