The haze that has been hanging over Xu Jiayin's head finally revealed a ray of sunshine, Evergrande's first car was built, and then Hong Kong stock Evergrande Automobile soared by nearly 20%. Xu Jiayin, who has already fallen into the abyss, is in a desperate situation, and finally ushered in his own white knight?
1. Evergrande's first car rolls off the production line?
After spending hundreds of billions of yuan and more than three years, Xu Jiayin's first car in Evergrande was finally built. Comprehensive media reports, recently circulated on the Internet a hengchi 5 assembly through the whole line of photos, which seems to mean that Evergrande's first mass production model Hengchi 5, finally from the attitude of the test car, ushered in its own off-line, from the mass production and listing of another step. Hengchi 5 is one of the six concept cars previously released by Evergrande Automobile, positioned as an A-class compact SUV, NEDC cruising range of more than 700km, the market price is expected to exceed 200,000 yuan.
2. Evergrande welcomes the white knights?
For Evergrande, which is mired in the quagmire, this is rare good news, Evergrande Automobile then soared by nearly 20%, it seems that the capital market will take it as a benefit. It seems that Evergrande spring has come, and finally ushered in its own white knight. However, things are far from simple. According to media reports, Evergrande Automobile said that it is only a small ceremony for the internal production line to pass through, and Hengchi 5 is expected to roll off the production line early next year. This shows that Hengchi 5 has not yet reached the standard of officially rolling off the line, and at present, Evergrande Automobile has only taken a stage step inside.
In fact, Evergrande Automobile also made a military order earlier to ensure that Hengchi 5 was successfully rolled off the line for three months. In the list of vehicles announced by the Ministry of Industry and Information Technology at the beginning of November, Evergrande did have two models, both of which were Hengchi 5. However, just a month later, in the licensing announcement of the Ministry of Industry and Information Technology in early December, Evergrande's above two models were missing and had been "removed". This also means that whether Hengchi 5 can successfully go offline is still a mystery. This cast a heavy shadow on the mass production of Hengchi 5. It is reported that Evergrande Automobile has now released a photo of Hengchi 5, which has a lot to do with the "delisting" incident.
3. When did Xu Jiayin turn over the salted fish?
Under the policy of strong financial supervision and the three red lines of real estate, Evergrande relies on the high leverage to leverage the real estate lying and earning game, which has become unsustainable. The data shows that Evergrande Real Estate sales were 9.1 billion yuan in September this year, compared with 83.1 billion yuan and 141.6 billion yuan in the same period of 2019 and 2020, respectively. Evergrande's huge debt of two trillion yuan was crushed by Taishan, and Xu Jiayin already knew that relying on real estate business could not fill this huge hole, nor could he save himself. Therefore, he found a way out for himself, that is, the new energy automobile industry, so he did not hesitate to give it a go, hoping to take advantage of this desperate situation.
The automotive industry is huge, and it is facing major changes unprecedented in a century, and new energy vehicles are on the cusp. Tesla was only a month away from the closed door, 2020 soared, Musk thus became the world's richest man; Weilai Automobile also suffered a bankruptcy crisis, and later got the support of the Hefei government to see a rainbow, founder Li Bin thus from the "most difficult person", transformed into a rich list; even Jia Yueting, also relying on faraday future listed in the United States, basically solved the debt problem. Therefore, if Evergrande Automobile can succeed, Xu Jiayin salted fish is also very likely.
However, the road ahead of Evergrande Automobile is still foggy and there are too many uncertainties. "Removed" by the Ministry of Industry and Information Technology, whether Hengchi can successfully go offline at the beginning of next year is full of unknowns; even if it is successfully off the line, whether it can be mass-produced and listed is also a big hurdle; after listing, whether the market recognizes, whether consumers pay, there is a shortage of funds, production capacity delivery problems, etc. The road ahead is far and dangerous, and it takes time to test. Tesla, BYD lead, "Wei Xiaoli" before and after, Volkswagen, Toyota and other traditional car companies have transformed, the new energy vehicle track has been crowded, the possibility of Evergrande Automobile's success is very small, Xu Jiayin's gloomy end may have been doomed.