SMM Network News: September 1, the Shanghai Stock Exchange accepted Geely Automobile Science and Technology Innovation Board listing application. This time, IPO, Geely plans to issue no more than 1.732 billion shares and raise 20 billion yuan, of which 8 billion will be used for product research and development of new models, 3 billion for forward-looking technology research and development, 3 billion for industrial acquisitions, and 6 billion for supplementary liquidity.
According to the prospectus, Geely's main business income mainly includes passenger car sales, auto parts sales and intellectual property licensing. From 2017 to 2019 and the first half of 2020, the total operating income was 93.553 billion yuan, 107.334 billion yuan, 98.139 billion yuan and 37.121 billion yuan respectively, and the net profit was 10.594 billion yuan, 12.585 billion yuan, 8.285 billion yuan and 2.33 billion yuan respectively.
Geely's products are divided into Geely and Geometry brands, covering the mainstream passenger car market from A0 to B. the total sales of Geely and Geometry brands are 1.2411 million, 1.3804 million, 1.2335 million and 475700 respectively in 2017, 2018, 2019 and January-June 2020. In 2017, the company launched a new mid-and high-end joint venture brand Lecker, with sales of 6000, 120400, 128100 and 54800 respectively in 2017, 2018, 2019 and January-June 2020.
In terms of intelligence, electrification and networking, Geely sold 113000 new energy and electrified models (including the Lock brand) in 2019, a year-on-year growth rate of 69%, ranking in the forefront of the industry. In 2018, the company took the lead in launching models with L2-level intelligent driving, with obvious advantages. In addition, the company actively arranges car networking in car-end, road-end and cloud-related fields, and forms a number of patented technologies.
In terms of new energy technology, the company comprehensively distributes 48V, hybrid, pure electric, fuel cell and other technology routes, and actively strengthens the core three-electricity technology of new energy vehicles, especially battery management system, electronic control system and other technologies; in terms of intelligent technology, the company attaches importance to software development capabilities, and is also in a leading position in domestic automobile enterprises in terms of centralized electronic and electrical architecture. In terms of intelligent driving technology, in 2018, the company took the lead in launching models with L2-level self-driving functions among independent brands, and is currently actively promoting the research and development and industrialization of L3-level self-driving technology.
At the same time, the subordinate enterprises controlled by Geely's actual controllers include Cao Cao chauffeured cars and Yao Travel, Tai Li Flying cars, Yijiatong Technology, time and Space Daoyu, carbon cycle and other intelligent three-dimensional travel business units. There is a layout in innovative business models and cutting-edge technologies such as shared travel, flying cars, vehicle networking / on-board chips / operating systems, satellite communications, echelon utilization of lithium batteries, recharging infrastructure, carbon cycle methanol production, etc.
After the success of this issue, Geely Automobile may become the first share of Science and Technology Innovation Board Automobile. As of the close of Hong Kong stocks on Sept. 2, Geely had a market capitalization of about HK $173.299 billion.
Guoxin Securities believes that Geely Science and Technology Innovation Board IPO, if successfully promoted and implemented, is expected to significantly enrich the company's financial strength again. This plays a positive role in promoting the company's future product development, technology research and development, as well as potential extension expansion.
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