It seems like the Nanjing factory has been delayed by 12 months? Announcement states due for completion 2h 2025 but original plans were for completion in September 2024.
Cash flow positive despite the decrease in units sold has to be attributable to sales of parts, cabinets and the likes. If that's the case they should start mentioning it; it is just not possible to produce so little in the way of bikes and be profitable, costs can be cut and managed only to a degree.
Ann: Vmoto's 2Q24 Market Update, page-12
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