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Evergrande Automobile Big Move! 100 million registered new companies, will enter the online car?

Evergrande Automobile's new move has once again aroused the attention of the outside world.

Recently, Tianyan check showed that a company with a registered capital of 100 million yuan was established - Hengchi New Energy Automobile Sales Co., Ltd.

Shareholder information shows that Hengchi New Energy is 100% owned by Evergrande New Energy Automobile Investment Holding Group Co., Ltd. The new company's business scope includes the sale of new energy vehicle replacement facilities, the sale of charging piles, the operation of electric vehicle charging infrastructure, and the operation of online ride-hailing services.

Securities Times and Brokerage China reporter learned that in recent years, in addition to Didi Chuxing, the online car platform launched by the automobile main engine factory has also become an important choice for consumers to travel, and for the new energy vehicle main engine factory, the online car field is a breakthrough in its rapid opening of sales in the initial stage.

On March 10, Evergrande Automobile closed at HK$3.03 per share, with a total market value of HK$32.86 billion.

Evergrande Automobile Big Move! 100 million registered new companies, will enter the online car?

Evergrande registered a new company including online ride-hailing business

According to the Tianyancha APP, on March 2 this year, Hengchi New Energy Automobile Sales Co., Ltd. was established with a registered capital of 100 million yuan, and the legal representative is Tang Lin, and the business scope includes: sales of new energy vehicle power exchange facilities; sales of charging piles; operation of electric vehicle charging infrastructure; and online reservation taxi operation services.

Equity penetration information shows that the company is 100% owned by Evergrande New Energy Vehicle Investment Holding Group Co., Ltd.

Evergrande Automobile Big Move! 100 million registered new companies, will enter the online car?

It can be said that the newly established Hengchi New Energy Automobile Sales Co., Ltd. has more business scope and licensed projects, but the online taxi reservation service is closely related to public travel, so it has attracted attention from the outside world.

It is worth mentioning that since the beginning of this year, Evergrande Automobile's move to the market can be described as one step after another.

On the eve of the Spring Festival in 2022, Evergrande Automobile released a recruitment notice, Evergrande New Energy Automobile (Tianjin) Co., Ltd. recruitment covers stamping, body coating, manufacturing quality, digital intelligence, logistics and production and other aspects of the position.

On January 12, Evergrande released the production and manufacturing video of Hengchi 5 and officially announced that the first car of Hengchi 5 was officially rolled off the production line, 12 days earlier than the original time.

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, declaring a total of 194 models of 96 enterprises in the batch of new energy vehicle products. Among them, Evergrande's new energy vehicle "Hengchi 5" is listed in the list, and the declared enterprise is Evergrande New Energy Automobile (Tianjin) Co., Ltd., and the product name is pure electric multi-purpose passenger car.

According to the planning previously disclosed by Evergrande Automobile, as the first model launched by Evergrande Automobile - Hengchi 5, its positioning A-class SUV, priced at less than 200,000 yuan, is the lowest positioning and cheapest model among the 9 models of Hengchi Automobile, and the NEDC has a mileage of more than 700 kilometers in the benchmark Audi Q3, BMW X1 and other models.

It is understood that a new energy vehicle in the production and sales stage, respectively, need to enter the Ministry of Industry and Information Technology's "Road Motor Vehicle Manufacturers and Product Announcements" is commonly known as the Ministry of Industry and Information Technology directory, all new cars need to pass the approval directory to start production; and in the sales stage, it needs to enter the "New Energy Vehicle Promotion and Application Recommended Model Catalog", the car can be sold and enjoy state subsidies.

According to relevant insiders, after Evergrande Automobile enters the directory of the Ministry of Industry and Information Technology, it is expected that Evergrande Automobile will soon enter the recommended model directory of the sales stage, and the new car may enter the pre-sale stage after passing.

How to drive new car sales?

In the eyes of industry insiders, taking precautions to set up a new company with online ride-hailing business, Evergrande Automobile may be getting closer and closer to pre-sale.

According to the reporter's understanding, in recent years, in addition to the online ride-hailing platforms created by technology companies such as Didi Chuxing and Meituan Taxi, many automobile OEMs have also entered the field of online car-hailing.

For example, in November 2015, Geely Automobile launched The Cao Cao Chauffeur (later upgraded to Cao Cao Travel) was put on public test in Ningbo; in March 2018, GAC Motor Group established Ruqi Travel, mainly engaged in online ride-hailing and other businesses; in August 2018, Great Wall Motors launched the Euler Travel Platform to carry out online ride-hailing and other businesses; in November 2018, SAIC Motor announced the launch of Xiangdao Travel to enter the online ride-hailing market; in May 2019, FAW, Dongfeng, T3 Travel, a joint venture established by Changan's three major automobile companies, was put into operation in Nanjing, and in June 2020, Zotye Automobile and Brilliance Automobile and other two car companies launched the "Zhongche Travel" platform and established Brilliance Travel Service Co., Ltd. to enter the field of online ride-hailing.

Industry analysts believe that the online ride-hailing platform Didi Chuxing has encountered anti-monopoly investigation pressure, many online ride-hailing platforms have made efforts to blossom at multiple points, and there is still market space for fighting in the field of online ride-hailing. At the same time, the new car-making forces to promote the listing of new automobile products, in the initial stage of facing greater pressure, in this case, in the form of "fertilizer water does not flow to outsiders" to sell cars to their online car platform, can effectively drive sales in the short term.

On March 8, according to the statistics of the Ministry of Communications' national online ride-hailing supervision information exchange platform, as of February 28, a total of 263 online ride-hailing platform companies across the country had obtained online ride-hailing platform operating licenses, an increase of 3 month-on-month; a total of 4.053 million online ride-hailing driver licenses and 1.631 million vehicle transportation certificates were issued in various places, an increase of 1.6% and 3.0% respectively.

Among them, among the online ride-hailing platforms with orders of more than 300,000 orders, the highest order compliance rate is Xiangdao Travel, and the lowest is Hua Pig Travel. In February 2022, there were 16 online ride-hailing platforms with orders of more than 300,000 orders. According to the order compliance rate (referring to the proportion of orders that both drivers and vehicles have obtained licenses), from high to low, they are Xiangdao Travel, Timely Car, Sunshine Travel, T3 Travel, Landao Travel, Yihua Travel, Ruqi Travel, Shenzhou Special Car, Zhaozhao Travel, Shouqi Ride-hailing, Cao Cao Travel, Wanshun Taxi, Bangbang Travel, Meituan Taxi, Didi Travel, and Hua Xiao Pig Travel.

Source: Brokerage China (ID: quanshangcn)

Editor: Wan Jianyi

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