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Evergrande Auto Financing of HK $ 26 Billion Spurs Stock Price Up 50%
Author: Ye Li Su Wan Bushi
[ 目前，恒大汽车在全球拥有10个生产基地，同步研发14款车，其中6款已发布。此外，该企业正在筹建展示体验、销售、维保修售后服务三大中心。 ]
[ 按恒大汽车此前的造车规划，从2019年至2021年总计投入294亿元。 ]
[ 恒大汽车旗下的恒驰系列产品将在今年上半年启动试生产，下半年开始陆续实现量产。 ]
At the open on the 25th, Evergrande Motor’s share price (00708.HK) continued to climb. At closing, Evergrande’s share price closed at HK $ 45.35, an increase of more than 50%. The stock once reached HK $ 50 during the session and its total market value once exceeded HK $ 400 billion.
Evergrande’s share price rise was affected by the good news. On the night of January 24, Evergrande Automobile issued an announcement to place 952 million new shares to six investors at a discount of 8% over the average closing price of the previous five trading days, attracting a total of 26 billion shares. Hong Kong dollars. Before this investment, Evergrande Group owned 74.95% of the share capital of Evergrande Automobile, after the investment, Evergrande Group’s stake decreased to 67.64%.
A China Business News reporter learned from Evergrande that after this private placement, the company will have more than enough funds to invest in R&D and production. In September last year, Evergrande Motors had a fixed raise of HK $ 4 billion and introduced strategic investors such as Tencent, Didi Chuxing and Sequoia Capital.
At present, Evergrande Motor has 10 production bases around the world and develops 14 models simultaneously, of which 6 models have been launched. In addition, the company is preparing to build three centers of experience in exhibition, sales and maintenance and after-sales service.
Under Evergrande’s previous car construction plan, a total of 29.4 billion yuan will be invested from 2019 to 2021.
According to the plan, Evergrande Motor’s Hengchi series of products will begin trial production in the first half of this year and begin mass production in the second half of the year. This not only means that Hengchi officially enters the countdown to mass production, it also means that Hengchi is about to meet Tesla on the market.
Judging by the current competitive landscape of the new energy vehicle market, Tesla has seized a large market share. Additionally, Tesla continued to cut prices after it was manufactured in China. Starting this year, the news of Tesla’s “jumped” price cut has caused quite a stir. The industry believes that Tesla’s price cuts will put some pressure on other new carmakers. As a newcomer to the new car manufacturing forces, Evergrande Motors still faces challenges in the market performance of its new cars after launch.
It’s worth noting that today, many new automakers have accelerated their financing steps, saving “grain and grass” to fight for the future. Recently, Xiaopeng Motors signed a cooperation agreement with five banks in Guangdong province and received 12.8 billion yuan in credit. In addition, Lingpao Motor is conducting a pre-IPO financing round with a valuation of more than 22 billion yuan. Hefei has clearly expressed its investment intentions, and the investment amount is approximately 2 billion yuan.
At the same time, the current market value of the new automobile manufacturing forces continues to rise. For example, the market value of Weilai Automobile once exceededBYD, Becoming the national automotive company with the highest market value.
Regarding whether the stock price of new automakers is overvalued, Ideal Auto CEO Li Xiang said in an interview with a China Business News reporter: “Although the company’s fundamentals (including factors such as sales and revenue) will have some impact on the stock price, but fluctuations in stock prices are more determined by the market. “
Actually inGuoxin EnergyThe car market is gradually coming out of the depression and its outlook is generally optimistic.
According to the China Association of Automobile Manufacturers, sales of new energy vehicles in China will increase 40% year-on-year in 2021. Wu Hui, general manager of the research department of the Ivey Institute of Economic Research, analyzed in an interview with a reporter from China Business News that in the first half of 2020, the domestic new energy vehicle market far exceeded expectations in the second half of the year. The main reason is that policy. In addition to promotion, more car companies have launched some explosive flagship models, whose prices have also fallen into the acceptable range of consumers. In 2021, many auto companies will launch new models, which will boost this year’s sales to keep growing. China’s new energy vehicle sales are expected to reach around 2 million in 2021.
China Sea SecuritiesThe trend to replace traditional fuel vehicles with new energy vehicles is believed to be irreversible. From traditional mechanical and hardware-defined vehicles to software-defined vehicles, electric vehicles are an important carrier of the intelligence and connectivity of the car of the future, which is of great importance. Changes in the automotive industry will be accompanied by the transfer of value from the industrial chain, focusing on R&D and front-end design, technology upgrade and back-end software premiums. The new energy automotive industry is currently in the era of electrification 3.0. The global leader in supply chain segmentation will usher in medium and long-term investment opportunities in the future. Five to ten years are the ten golden years of changes in the new energy automobile industry and the rise of leaders.
“The valuation of new energy companies should include four elements. The first is growth, which shows that the high valuation is reasonable; the second is the revolution. Smart cars and electric cars on the Internet are the trend to replace the fuel vehicles; the third is the automotive industry production factor. A complete change, the arrival of the 5G era has brought a lot of room for imagination to this industry; finally, there are Chinese factors, and there is a lot of room for growth in the Chinese auto market. ” Hande Industrial Promotion Capital president Cai Hongping said at the recent 100-person electric car gathering. In the development process of any emerging industry, there is forward-thinking capital and the expected valuation of the industry is often too high, which is a common phenomenon. For leading companies with growth potential, the valuation is reasonable. Also, the existence of a bubble in the secondary market is reasonable. This bubble is called “julang”. In this process, it is impossible to nurture new industries through the capital market without the existence of such a bubble.
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