Hey FoxAm I speculating? Yes. In regards to the exact makeup of...

Hey Fox

Am I speculating?

Yes. In regards to the exact makeup of the change to the Deposits/Confirmed sales metric.

No. In regards to it pointing to a divesification in rvenue streams. I do not see how it could be otherwise.

Re the format of quarterlies, one caveat for retaining the reporting of a single unit sales metric (int and domestic), is that maybe, just maybe the teasing out of the reveue streams might give the 'game away' to the competition. But I don't think so.

In relation to the 'different streams'................................

1. Grazaino is on record as saying that he would like to see Vmoto eventually to be the provider of parts to the entire (ICE and EV) 2W industry.
2. China is now an 'unfettered'(?) market for Vmoto because of the Soco settlement.
3. The Battery Cabinets is the one of most interest to me because I see it as a leading metric. If you sell them you probably have a simulus for bike sales (see vammo in LATAM).

I agree with what I think you are saying about the figures being open to interpretation. Personally I find Vmoto figures a lot easier to 'read' than other comapnies. But that's just my opinion. But yes, they are open to interpretation.

Another example of how some might interpret the figures.........................................you could argue that the revenue is of a 'better quality' than 1H23.

By that I mean if you look at Note 1.1.....................................


You can see there is a difference of $1.8m. Less this year. Non-Core revenue (apart I suppose from Contributions - taking that to mean contributions to the cost of homologation for new models into new geographical regions).

Is that $1.8m worth crowing about? Maybe. Maybe not.

In the next half-year we might find that there is a 'boost' in government subsidies - Beijing and Jiangsu contributions to the new factory build?

All this stuff is a factor factor in me thinking that 2H will be better than 1H.

In any case, I am sure posters will have different takes on this to me.

Cheers