As we all know, there are three car companies in the new car-making forces that have successfully listed, namely Weilai Automobile, Ideal Automobile and Xiaopeng Automobile, and the latter two have completed dual listings (US stocks and Hong Kong stocks) as early as last year. As the big brother of the new forces, when Weilai landed in Hong Kong stocks has also become a matter of concern for many people.
Although late but late, on March 10, NIO officially landed on the Hong Kong Stock Exchange, opening at HK$160 per share on the first day, and the Hong Kong stock market was worth HK$267.041 billion.
Unlike Xiaopeng and Ideal landing in Hong Kong stocks, NIO landed on the Hong Kong Stock Exchange in the form of an introduction, rather than offering new shares to raise funds. In other words, NIO has no procedures for public offerings and therefore will not receive new financing.
Since it can't bring more funds, why did WEILAI still choose to land on Hong Kong stocks in the form of introduction.
The biggest advantage of introducing the listing is that the listing process is simpler and more flexible. As the first new force to land on the US stock market, when it landed in Hong Kong stocks, it was half a beat slower than the ideal and Xiaopeng, and Weilai was definitely in a hurry.
Secondly, according to relevant media reports, WEIlai's trip to Hong Kong was not smooth. In March 2021, NIO submitted an application for listing on the Hong Kong Stock Exchange, but due to the problem of user trust funds, NIO's listing path was hindered.
For the introduction of the listing, the reason given by WEIlai is: "This is to provide alternative trading venues for corporate investors, mitigate geopolitical risks, expand the investor base, and at the same time that these listing purposes can still be achieved, without diluting the interests of existing shareholders." ”
The listing of Weilai is a gratifying and congratulatory thing, but this does not guarantee that Weilai's future development will be smooth. Car building is extremely expensive, even if it is Xiaopeng and Ideal, who have achieved double listing, are still losing money. According to the data, xiaopeng and ideal losses in the first three quarters of 2021 were 3.576 billion yuan and 617 million yuan respectively. The loss of Weilai is even more serious, with a net loss of 8.393 billion yuan in the first three quarters of last year, coupled with the fact that Weilai's listing can not immediately obtain new financing, and Weilai's road to burning money continues.