On March 17, Zhejiang Zero Run Technology Co., Ltd. submitted a listing application to the Hong Kong Stock Exchange, with CICC, Citi, JPMorgan Chase and CCB International as the co-sponsors of the IPO. According to the prospectus, the zero-run car plan will use the funds raised for the research and development of smart electric vehicles, improve production capacity, and enhance brand awareness. This move is expected to make Zero Run the fourth new power car company in China to list in Hong Kong after Wei Xiaoli.
According to its disclosed prospectus, the total revenue of zero-run cars from 2019 to 2021 was 3.88 billion yuan, and the operating loss was 4.47 billion yuan. Also announced are the deliveries of models by the end of 2021. According to the current market pattern, zero-run cars belong to the second-tier new power brand. Taking the sales volume in 2021 as an example, Xiaopeng, Weilai and Ideal delivered 98155 vehicles, 91429 vehicles and 90491 vehicles respectively, Nezha delivered 69674 vehicles, and zero-run delivered 43123 vehicles, ranking fifth, and the results were also taken.
However, a closer look found that the zero-run T03, which accounts for its sales, is dominated by the positioning of micro-electric vehicles, and 90% of the sales in 2021 are provided by the zero-run T03. However, recently, there have been a number of companies such as Euler and Geometry announced the suspension of their entry-level models, and many car companies have raised prices for all models, raw materials and lack of cores, which have greatly reduced the profits of similar products, and even lost money.
At the same time, the complete failure of S01 seriously dragged down the process of zero-run development, and once made zero-run encounter an existential crisis. As the brand power point of C11, although the sales after the listing is indeed considerable, the reputation is surprisingly good, but the birth is not timely, around the delivery and cost problems, March 18, Zero Run announced that the C11 luxury version and the premium version of the price increase of 20,000, the performance version of the price increase of 30,000, such a high price increase, for a time so that consumers are difficult to accept.
At this stage, zero-running cars and most of the new forces to build cars are facing the dilemma of not yet achieving profitability, according to the current development of zero-running cars, the zero-run C01 that is planned to be delivered in the third quarter of this year will shoulder the heavy responsibility of trying to open up the situation with C11, but it cannot achieve profitability in a short time, and going public in Hong Kong at this time is of great significance for the long-term development of zero-running cars.