In 2021, the mainland real estate market is still in the depths of the water, Evergrande, Kaisa and a number of housing enterprises have defaulted, into a debt crisis, and many private housing enterprises such as Country Garden have not completed the sales task.
The way out in front of the housing enterprises is either to sell assets and actively repay debts, or to actively transform. For example, Sunac has sold more than 30 billion assets, but it is still not enough, and real estate giants such as Shimao and Agile are selling assets to save themselves. Even Vanke, a model student in the real estate industry, said that it was not good, and Yu Liang, chairman of the board of directors of Vanke, said: This year is a year of backwater war, how to understand the backwater war? It's either dead or alive, there's no intermediate state.
When it comes to transformation, the most successful real estate industry is Wanda, which sold assets and divested real estate as early as 2017, and has now become more and more successful in the commercial retail field. In fact, if there is a little more time, Evergrande can smoothly transform into the new energy automobile industry.
Many people say that Evergrande fell into such a passive situation today, because it blindly expanded into the field of new energy vehicles and burned a lot of money. Because cars and real estate are not related at all, they are dragged down.
In fact, this statement is not correct, because in addition to traditional automobile companies, other new energy vehicle companies originally had no experience, they all came across the line, Weilai, Ideal, Xiaopeng and other new car-making forces are like this, why can't Evergrande?
From the end of 2017 into the new energy automobile industry, Xu Jiayin is indeed very bold, large-scale purchase of a lot of technology and other assets, originally in the second half of 2021 can be mass production, but did not expect the debt crisis to appear in advance, only to disrupt the plan. Otherwise, Xu Jiayin can successfully achieve transformation, after all, new energy vehicles are at the cusp.
No one expected that Evergrande's debt was nearly 2 trillion yuan, and even Cao Dewang was shocked, which can be said to be financing with his eyes closed. Although Xu Jiayin launched a self-help operation, his ability was ultimately limited. The latest news is that Evergrande will launch a preliminary restructuring plan within 6 months, which means that in terms of real estate, Xu Jiayin has almost no possibility of turning over, and it is said that his shares may be cleared.
Xu Jiayin may have expected such an outcome, so he did not give up building cars, but instead accelerated the promotion of the first car off the production line. Evergrande Automobile is used as the bottom card for him to turn over, xu Jiayin wants to "fight a battle against the water", and perhaps there is still a chance of success.
However, it is really expensive to build a car. In December last year, Li Bin, chairman of WEIO, said that to become a competitive and sustainable new car manufacturer, at least 40 billion yuan of capital reserves are needed. Evergrande has spent more than 50 billion yuan on building cars, but still has not seen a car come out.
In order to succeed in car manufacturing, in the second half of last year, Evergrande Automobile opened a fancy return of funds, and Xu Jiayin and his wife sold a part of Evergrande shares, cashing out 2.676 billion Hong Kong dollars. Evergrande Automobile returned another 2.6633 million square meters of land and recovered 1.284 billion yuan. In addition, it raised HK$3.2 billion in equity allotments and sold electric drivetrain company e-Traction for 2 million euros, or about 14.5204 million yuan.
I have to say that although the Xu family printed the car very hard, it is really "three twists and turns". In November last year, Evergrande Automobile's first car, Hengchi 5LX, entered the 350th batch of road motor vehicle manufacturers and product publicity list of the Ministry of Industry and Information Technology, and the news came out, which made the market excited. But in the official announcement a month later, two models of the Hengchi 5LX suddenly disappeared.
Generally speaking, after the official announcement, it can be mass-produced in about half a year. Hengchi 5LX is missing, which has triggered many speculations, is Evergrande's car building failed? Technically failed? And the downline is also constantly coming news, but it has been denied, it can be said that it is confusing, and no car brand's first car off the line will make so many moves.
Entering 2022, Evergrande Automobile has finally brought good news. On January 4, the first car, Hengchi 5LX, officially rolled off the production line, and Evergrande Automobile also held a car celebration ceremony. To be able to achieve the offline, it must have undergone a lot of testing, and when the technology is fully compliant, it will be offline.
On February 11, the official website of the Ministry of Industry and Information Technology released the 353rd batch of "Road Motor Vehicle Manufacturers and Product Announcements" vehicle new product publicity list, and Evergrande's first car, Hengchi 5LX, appeared in it again.
Will it disappear into the official list again, as it did last year? The author believes that it is unlikely, because the first car has been off the production line, indicating that the technology is mature enough and well prepared, and it should not be a big problem to pass the audit.
Therefore, for Evergrande Automobile, everything is now ready, and there is only one mass production left. However, mass production still needs a lot of funds, which is a problem facing Evergrande Automobile. A few days ago, Evergrande Automobile released a large-scale signboard and launched dozens of positions, which seemed to be well funded. Therefore, in the mass production process of more than half a year, how many variables there will be, we do not know.
For Xu Jiayin, betting on the new energy vehicle market is the right choice. According to the data, the cumulative sales of new energy models in the world in 2021 will be nearly 6.5 million, an increase of 108% over the same period last year, while the sales of new energy vehicles in the mainland reached 3.521 million units, an increase of 1.6 times year-on-year, which is even more hot.
In the top 20 global new energy vehicle brand sales in 2021, Chinese brands occupied 8 and ranked first. There is no doubt that there is still a lot of room in the Chinese market. If Hengchi 5LX is recognized by the market, then sales will definitely rise sharply, and evergrande automobile stock price will also rise, then financing will be easy, and Xu Jiayin will have the opportunity to turn over.
The first half of 2022 is the most critical period, can Evergrande Automobile turn the tables against the wind? Do you still believe Xu Jiayin?