Car Review Observation, Car Review Agency, No. 522
Foreword: A few days ago, some netizens posted that Evergrande Xu boss just finished the group meeting, did not mention the real estate project at the meeting, but released some heavy news about Hengchi Automobile.
Among them, the first is that Hengchi 5 will enter the new car list of the Ministry of Industry and Information Technology in March; The second is that Evergrande new energy vehicles will accept reservations in June. The author looked at the time of the post, the netizen was released on February 7, did not expect that this matter is not only true, but also Hengchi 5 also "squeezed" into the Ministry of Industry and Information Technology's new car publicity list in advance.
According to reports, 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. On the 79th page of the public page, the "figure" of Hengchi 5 new car appeared.
Evergrande made cars to "blow" the cattle, is this going to start cashing in?
The car review agency learned that the declaration contains two models, which are high and low for Hengchi 5, mainly due to differences in body details and intelligent configuration. Hengchi 5 wheelbase 2780mm, length 4725mm, positioning compact pure electric SUV, the overall shape of the simple sports style.
This car is positioned as an A-class SUV, priced at less than 200,000 yuan, which is the lowest positioning and cheapest of Hengchi Automobile's 9 models, and is benchmarked against Audi Q3, BMW X1 and other models.
It is certain that Hengchi 5 entered the public list of new cars, which is definitely good news for Evergrande. However, the "burden" on Hengchi 5 is not light, and the pressure from competitors and the general environment cannot be underestimated.
When it comes to the current situation of Hengchi 5, it is necessary to talk about Evergrande Car.
1
Get up early in the morning and catch a late set
For "building a car", Evergrande Xu boss should have had this idea very early. However, the real fanfare to land on the car project is in 2019.
How to build a good car?
Evergrande Xu boss has his own set of logic, that is: buy, buy, buy, circle, big, good.
That is to say, Evergrande's car-building road is to buy all the core technologies that can be bought, and if it can't be bought, it will cooperate in all aspects. To this end, Evergrande also plans to invest 45 billion yuan in three years, and the first car, "Hengchi 1", is scheduled to be unveiled in the first half of 2020 and planned to be mass-produced in 2021.
It can be seen that Boss Xu is "painting" a big cake. It can also be seen from this that Evergrande sells cars, which seems to have a bit of a taste of "selling hardcover houses".
In order to make chui (niu) become a reality, others can develop their own full stacks, but Evergrande can "buy" and "circle" everywhere.
According to reports, in 2019, Xu Jiayin went abroad 7 times to promote the "car-making" project, and went to 10 places to investigate the automobile market.
At the same time, Evergrande has also built factories in Guangzhou, Shenyang, Zhengzhou, Tianjin, Guangxi, Qingdao, Shanghai and other places with great fanfare. In addition, in order to express the determination to "encircle and build cars", "Evergrande Health Industry Group Co., Ltd." was also specially changed to "China Evergrande New Energy Automobile Group Co., Ltd."
In 2020, Evergrande released 6 models in one go, Hengchi 1 to Hengchi 6, covering all levels of A to D, from cars, SUVs, MPVs to crossovers, etc. This sao operation makes people in the industry unable to understand.
Judging from the row of noodles at that time, Evergrande can be described as full of spirit and cannot be lived.
Affected by this, the stock price also broke out from 2020, rising to the highest 72.45 Hong Kong dollars per share in February 2021, an increase of more than 1,000%, and the stock price rose by more than 10 times in eight months, and the market value once exceeded 640 billion Hong Kong dollars, which pressured SAIC Motor and Great Wall Motors at that time.
What is even more amazing is that Evergrande's "one car is not sold" can also become the highest market value car manufacturing company in China and attract attention. At this time, the outside world believes that Evergrande's car manufacturing has entered the right track.
However, the good times were not long, and the changes in Evergrande Automobile after a few months were a bit unexpected.
According to reports, Evergrande Group suddenly fell into a liquidity crisis, selling real estate at a low price across the country, and once there was news of the transfer of electric vehicle subsidiaries.
According to Evergrande's previous financial report, Evergrande's current debt is as high as 1.95 trillion yuan, if you count Evergrande's statement, it is definitely a number far beyond the imagination of the melon-eating masses such as me. Evergrande Automobile is inevitably deeply implicated, facing difficulties such as continuous decline in stock prices, senior executives reducing their holdings and cashing out, and shortage of project funds.
After that, Evergrande Hengchi's new car was delayed in mass production and experienced a long period of "ticket jumping".
2
Internal and external troubles Are difficult to support alone
In the view of the car review agency, Boss Xu does not want to make the car become a "Xu's scam", and he has high hopes for Evergrande's car.
It not only clearly put forward the three grand goals of Evergrande Automobile at the conference:
That is, Evergrande Automobile will become the world's largest and strongest new energy vehicle group; By 2025, the annual production and sales will exceed 1 million vehicles; By 2035, the company will have an annual production and sales of more than 5 million units.
Moreover, Boss Xu also gave important strategic instructions to raise the "car-making" to the height of evergrande group's future transformation:
Evergrande will complete the industrial transformation from real estate to new energy vehicles in the next 10 years. In the future, an industrial pattern will be formed with new energy vehicles as the mainstay and real estate as the supplement.
Unfortunately, Evergrande is currently "high debt", and the "car building" project is thunderous and rainy, wasting too much time.
Especially in last year's positive general trend, "Xiao Li Which" took advantage of the victory to pursue and reshape the pattern, has become the head of the new forces of car manufacturing, monthly delivery of more than 10,000 vehicles has become the norm, preconceived influence completely crushed Hengchi Automobile.
In addition, the traditional car companies represented by BYD, Dongfeng Lantu, GAC E'an, etc., have also completed the counterattack of "horse racing", and even confidants, Feifan, Huawei, and freelancers have also successfully joined the "war situation".
Compared with these new car-making forces and traditional car companies with strong foundations, Evergrande's belated car-making can be described as internal and external troubles.
The hope of turning over on a Single Hengchi 5 seems to be difficult!
3
Next Evergrande Ice Spring?
According to Evergrande Automobile's 2020 annual report:
Evergrande Automobile achieved revenue of 15.487 billion yuan in 2020, an increase of 175% year-on-year, of which the automobile business was 188 million yuan. The company achieved a gross profit of 2.695 billion yuan, an increase of 43% year-on-year, and a net profit of 7.74 billion yuan for the whole year.
Up to now, Evergrande Automobile has invested a total of 47.4 billion yuan in the new energy automobile industry. Among them, 24.9 billion yuan was used to acquire core technologies and research and development expenses, and 22.5 billion yuan was used for factory construction, equipment procurement, and parts procurement.
According to the performance report released by Evergrande Automobile in the first half of 2021:
Evergrande Automobile achieved operating income of 6.923 billion yuan, an increase of 53.5% compared with 4.510 billion yuan in the same period of 2020. During the reporting period, Evergrande Automobile lost RMB4.822 billion, an increase of 96.25% over the same period in 2020.
Nowadays, Evergrande's situation of "building cars" is not good, and it is encountering "unprecedented difficulties", can Xu Jiayin come to Taiji, or become the next Evergrande Ice Fountain that sells himself out?
It's all up to time.
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