Selling stocks to cash out, Li wants to step down as a legal person, ideal is this to run away?
In September, Meituan founder Wang Xing once again reduced his stake in Li Auto, cashing out nearly 300 million yuan The incident has not yet subsided, and recently the news that Li Xiang, CEO of Li Xing, CEO of Li Xiang, stepped down as the legal representative of many companies under Li Auto has become the focus of public attention for a while.
"Mr. Key" cashes out
In the process of Li Xiang's entrepreneurship, Wang Xing can be described as his biggest nobleman. Back then, because Ideal Auto was founded late, it repeatedly hit a wall in the financing process, and Li Xiang also said in an interview: At that time, he met 100 investors, and in the end, only Wang Xing invested in himself.
In August 2019, Wang Xing found Li Xiang to invest 2.03 billion yuan, and in June 2020, Wang Xing invested more than 5 billion yuan again, and together with it, Wang Xing invested more than 70 small goals in Li Auto. According to the common saying in the industry, the threshold for new forces to build cars is 10 billion yuan, and Wang Xing's help directly helped Li Xiang cross the most difficult time, which can be said to be a great contribution. Of course, Li Auto did not live up to Wang Xing's expectations, according to Wang Xing's 22% stake in Li Auto, the more than 7 billion yuan he invested that year has now become 48 billion yuan.
It is no exaggeration to say that today's ideal car has become Wang Xing's cash machine. According to information disclosed by the Hong Kong Stock Exchange, Wang Xing successively reduced his holdings of Li Auto Hong Kong stocks from September 12 to 15, cashing out a total of HK$300 million (about 290 million yuan) in four days. This is not the first time Wang Xing has reduced his holdings this year, as early as March, Wang Xing reduced his holdings nine times in a month in US and Hong Kong stocks, selling a total of about 3.9329 million shares and cashing out about 420 million Hong Kong dollars.
It is worth noting that Wang Xing's transactions were all personal acts, which did not involve Meituan's shareholding. The two reductions so far this year have allowed Wang Xing to cash out more than 600 million yuan from Ideal. However, Li Auto has successfully turned losses into profits since the fourth quarter of 2022, and is the first car company among the new forces of car manufacturing to get rid of the loss situation.
Li Xiang stepped down as legal representative
According to an APP information, Beijing Chehejia Information Technology Co., Ltd., Beijing Rockwells Technology Co., Ltd., Beijing Chehejia Automotive Technology Co., Ltd., and Beijing Chezhibei Technology Co., Ltd., a subsidiary of Li Auto, have all undergone industrial and commercial changes, and Li Xiang stepped down as the legal representative and was subsequently replaced by Feng Weili, but Li Xiang still serves as the executive director of Li Auto.
According to the official statement of Ideal Auto, this operation is an ordinary high-level personnel change, for the future development of Ideal Auto, this change has many benefits, first of all, there are greater legal risks as the legal representative of a number of companies, and secondly, Li Xiang's own pressure is also very large, and there are many inconveniences in the implementation process. However, in my opinion, this personnel change may indicate that Li Auto is about to usher in a series of major strategic adjustments, within Li Auto, Li Xiang's influence at the strategic decision-making level remains unchanged, and the optimization of the company's management team can also improve the company's operation efficiency and decision-making efficiency.
The crisis behind the boom
There is no doubt that today's ideal is the most proud of the new forces in car manufacturing. According to the latest data released on the production and sales of new energy vehicles in September, Li Auto's monthly sales in September totaled 36,000 units, a year-on-year increase of 212.7%, once again refreshing the monthly delivery results, becoming the third among domestic automakers and the first among the new automakers.
At present, the focus of ideal cars is still on the field of range extension, and there are no other power form models under it, and today's range extension sector has many strong competitors entering the game, and the competition will intensify in the future. In order to make up for the shortcomings, Li Auto plans to include a super flagship model, 5 extended-range electric models and 5 pure electric models in the product matrix by 2025. In order to match the layout of pure electric products, Li Auto also said that it will build more than 300 supercharging stations by the end of this year, and more than 3,000 charging stations in 2025. The R&D investment of pure electric models and the rollout of supercharging stations are bound to put greater pressure on the ideal subsequent financial expenditure.
In addition, with the success of the market, today's ideals are also a little floating. According to Li Auto's forecast, more than 8 million smart electric vehicles will be sold in China in 2025, when Li Li will occupy 20% of the market share, which means that the brand's annual sales will exceed 1.6 million units, but in 2022, Li Auto's annual delivery volume is only 133,200 units.
In my opinion, the ideal car's vision of the future is too "idealistic". In the future, the competition in the new energy vehicle market will be more intense, among which Huawei's technology and brand appeal may become its biggest competitor, and the starting price of the modified M7 has been reduced to less than 250,000 yuan, which is about 70,000 yuan lower than the ideal car of the same level and configuration products. It is foreseeable that it is difficult for ideal cars to maintain the high growth trend at this stage.
Uncle Che concluded
Through the above analysis, it is not difficult to see that although the ideal car is full of flowers, it is also full of many crises, among which the price war and technical war will become the most troublesome problem for the ideal car in the future. In this context, there are events such as Wang Xing's continuous reduction of holdings and Li Xiang's resignation as a legal person, the former is to cash out at a high level, and the latter is to cope with future changes, so can the ideal car continue its current glory in the future? And let's wait and see.