Nezha Automobile's sales in the first half of the year set foot on the "Fire Wheel" IPO plan to be suspended without decision

Author:Securities daily Time:2022.07.26

26Jul

Our reporter Gong Mengze relying on the "low price" rushing strategy, the sales volume of Nezha reached a record high. The official data of Nezha Motors shows that in the first half of 2022, a cumulative sales volume was 63,000 units. Compared with the same period of 2021, the increase of 199%was as high as 199%. This achievement of "colliding line" is half of the annual sales target. At the same time, Nezha Automobile is also the only car company in the new automotive car manufacturer of car manufacturing. At the same time, the reporter of the Securities Daily learned that the "gate" of the Nezha Motors D3 round of financing that had not been launched before was closed and was currently being delivered. In this round of financing investors, including Shenzhen Investment Investment, Qiaomu Fund, Ark Connection and other institutions and subjects. According to reports, the amount of financing of this round of financing exceeds 3 billion yuan. The funds will be used for product research and development, technological innovation, factories expand, and supplementary operating funds. In the future, the joint stock system restructuring will be accelerated. "For Nezha Motors, the imperative is to realize the IPO as soon as possible, and get the next stage of the schedule like" Wei Xiaoli "to enter the positive cycle of capital operation and product development." China New Energy Automobile Industry Innovation Alliance Director Director Gao Yunpeng said. A round D financing cumulative nearly 10 billion yuan twice reported the IPO news "Securities Daily" reporter to inquire about the Tianyan check app and found that since 2017, Nezha Automobile has completed 10 rounds of financing. Except for 3 rounds of unlimited transactions, the cumulative cumulative cumulative cumulative cumulative transactions, cumulative cumulative accumulated The financing amount is nearly 18 billion yuan. Among them, at the end of October 2021, Nezha Motors announced that the D1 round of financing was 4 billion yuan, of which 360 groups led 2 billion yuan. In early November 2021, Nezha Automobile completed the D2 round of financing, and the amount of financing was not disclosed. The main investment institutions include Ningde Times, Mu Hua Kechuang, and Ruihua Holdings. According to the official introduction of Nezha Motors, Nezha Motor D -round has cumulative financing of nearly 10 billion yuan. It is reported that after completing the D -round financing, Nezha's valuation will exceed 25 billion yuan. In comparison, the total market value of Weilai, Xiaopeng and the ideal three car companies is about US $ 32.1 billion, US $ 21.4 billion, and US $ 33.2 billion, respectively. Li Bin, CEO of Weilai, said that it cost at least 20 billion yuan in car building. Judging from the publicly financing amount, the new forces such as Nezha Automobile and Zero Running cars seem to have not reached this threshold. In addition, the announcement also mentioned that Nezha's joint -stock system restructuring work has been launched. The reporter noticed that before the 360, in conjunction with the stock system of Nezha Automobile, the 3.532%equity of Nezha Automobile was transferred at a consideration of 0 yuan. It is worth mentioning that the new forces such as zero -running cars and Weimar Automobile have officially submitted a listing application, and Nezha Automobile currently only announces a listing plan, and has not announced specific planning and substantial progress. The official news about Nezha Automobile IPO can be traced back to July 2020. At that time, Nezha Motors announced that it would launch the listing of the science and technology board and plan to complete the listing in 2021. On February 16 this year, it was reported that the main body of Nezha Automobile officially launched the Hong Kong stock listing plan. Nezha Motors had opened the PRE-IPO round financing with a target valuation of about 45 billion yuan. In this regard, on July 25, the relevant person in charge of Nezha Automobile told the "Securities Daily" reporter, "There is no more information that can be shared." In the first half of the year, sales increased by nearly double the year -on -year. In the first half of this year, Nezha's delivery volume was 63,131 units in the first half of this year, a year -on -year increase of 199%. It ranked second in the new vehicle construction forces, second only to Xiaopeng Automobile. In terms of models, the sales volume of Nezha V and Nezha U in the first half of the year was 41,000 and 22,000, respectively, an increase of 129%and 617%year -on -year. The cumulative production and sales of Nezha cars had exceeded 160,000 units. With the excellent performance of the first half of the year, Nezha Automobile has become the only car company in the new forces of the car that exceeds 50%of the sales rate of more than 50%. In addition to Nezha Automobile, the annual sales target is set at Weilai Automobile, ideal cars, and Xiaopeng Automobile, which are more than 40%of the 200,000 or more vehicles or more. "Nezha's initial positioning was to make high cost -effective smart cars, not cheap cars," said Zhang Yong, CEO of Nezha Motors. In terms of products, Nezha Motors is also changing. The first product created by the intelligent safety car platform "Shanhai Platform" based on the full -research of Nezha Motors -B+Class Smart Electric Course Nezha S is expected to be delivered to the fourth quarter of this year. However, behind the growth of delivery, it is the problem of losses that are difficult for Nezha cars to avoid. In 2020, Nezha's revenue was 1.297 billion yuan, a net loss of 1.321 billion yuan; in 2021, the revenue was about 5.735 billion yuan, and the net loss was 2.908 billion yuan. The cumulative loss of two years reached 4.229 billion yuan. As a shareholder of Nezha Automobile, the data previously disclosed by the 360 ​​Group showed that as of December 31, 2021, the total assets of Nezha Automobile were 13.690 billion yuan and the total asset liabilities were 8.328 billion yuan. Based on the calculation of the delivery and non -net profit of operating income and non -net profit, the average selling price of Nezha Auto bicycles in 2021 was 82,300 yuan, and the average loss of bicycles was 43,800 yuan. In fact, loss is a problem faced by all new forces of all cars at this stage. Except for Tesla, no enterprise has achieved a real profit in the truth. In Gao Yunpeng's view, the most important thing for Nezha is now to realize the IPO as soon as possible to enter the market with high -end and higher premium capabilities.

"The strong competitive products represented by Tesla Model3, Xiaopeng P7, and BYD Han have their own target consumers and possess a certain market share. In addition, with other second -tier vehicles entering the marketThe track will become more crowded. "Recommended reading

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