Does the new force of car building enter the second half of the knockout stage with chicken feathers or iron tree flowers blooming?

SMM: after a period of silence in the capital market, the new power of car building seems to have set off a wave of financing, first with Skyline Automobile raising 5 billion yuan, followed by FF raising $45 million (about more than 300 million yuan). The new force of car building has raised money and is eager to achieve mass production as soon as possible and stay in the knockout stage. However, throughout the new power of car-building enterprises, there are not many companies that can achieve mass production. At present, in terms of sales volume, Weilai Automobile, Xiaopeng Automobile, ideal Automobile and Weimar Automobile take the lead.

The new power of car building that is short of money.

As we all know, car-building is a money-consuming industry. As Li Bin, founder of Xilai Automobile, said, if the new power wants to build cars, it is impossible to play without 20 billion. Money is particularly important for the new power of car building.

If we take a closer look at the financing process of various enterprises, we can see that there are only a few enterprises with real financing of more than 20 billion yuan, such as Weilai, Xiaopeng, ideal, Weima and so on. Tianyan check information shows that Weimar Automobile raised 9 times, disclosed the financing amount of more than 20 billion yuan. Singularity Automobile raised 10 times, and the total financing disclosed was no more than 10 billion yuan. Zero car financing for 4 times, the disclosed financing amount of about 3 billion yuan. Hezhong Automobile raised six times, and the disclosed financing amount was 6.25 billion yuan.

Lulai Motor, Xiaopeng Automobile and ideal Automobile are now on the market. Before the listing, Tianyan check information showed that Lailai Automobile raised 1.6 billion US dollars (about RMB 10 billion yuan), and Xiaopeng Motor received eight financings of about 20 billion yuan. ideal auto financing 9 times, the amount of financing is about 15 billion yuan.

The financing of the new forces of car building is mostly concentrated in the past few years, and in the past year or two, the wave of financing of the new forces of car building has gradually receded. In its heyday, there were more than 100 new car-building enterprises, but now there are many enterprises that have collapsed due to lack of money. Or it is precisely because of the uncertainty of talent, technology, capital and other aspects of the new power of car building, the management's investment in the new power of car building began to become cautious. However, recently, the capital market seems to have regained confidence in the new forces of car-building, and the new forces of car-building have set off a small wave of financing.

On October 13th, Skyline announced the completion of a new round of financing of more than 5 billion yuan. The management side is the local government industry guidance fund and large state-owned banks, and the funds will be used for the follow-up research and development of new models, intelligent manufacturing, construction of sales channels and service system, brand marketing promotion and so on. SkyEye survey information shows that Skyline car, formerly known as electric coffee car, since its inception, Skyline Automobile financing 7 times, disclosed financing amount of more than 9.5 billion yuan.

The day after Skyline auto financing, Faraday Future (FF) announced that it had received a new round of financing, with $45 million (more than 300 million yuan) in debt financing loans provided by two major financial institutions in the United States. With this new financing, FF's listing plan and FF 91's mass production plan are once again on the agenda.

In addition to Skyline Motor and FF, on September 3, Xilai Motor completed a private placement with a financing amount of US $1.73 billion, and Xiaopeng Motor received a strategic financing of 4 billion yuan on September 28th.

Recently, why has the capital market regained its confidence in the new power of car-building? Ren Wanfu, an auto analyst, said: first, Tesla gives great confidence to new energy; second, the performance of several domestic leading enterprises is quite good. Under such circumstances, capital has turned its attention to the new power of car building. However, as Weilai, Xiaopeng and ideal have been listed, as far as capital is concerned, it is of much less significance to invest in these enterprises, and the management will look for new targets. With Tesla, Weilai, Xiaopeng, Weima and ideal as samples, it is easy to find out what stage the investment enterprise is in and what achievements it may achieve in the future. Capital will consciously invest in some potential enterprises. In addition, capital investment in a certain industry will certainly look at the prospects of this industry. Due to the impact of the epidemic, investment in other industries except high-end chips is of little significance, and our domestic sales of new energy vehicles have begun to grow. As far as capital is concerned, new energy is a good investment direction.

In urgent need of listing to quench thirst

As far as the new car-building forces are concerned, if they want to open the door to mass production, the first thing to solve is the financial problem. Obtaining the amount of financing through the listing of IPO has become one of the important ways for the new car-building forces to solve the financial problem.

At present, Weilai Automobile, Xiaopeng Automobile and ideal Automobile have been listed on the IPO. The first to appear on the market is Lulai Motor. On September 12, 2018, IPO went public with a financing amount of US $1.002 billion. After the listing of Xilai Automobile, ideal Motor and Xiaopeng Motor listed successively. In July 2020, ideal Automobile IPO was listed with a financing quota of 1.478 billion US dollars, and in August, Xiaopeng IPO was listed with a financing quota of 1.49 billion US dollars.

After listing, the market capitalization of the three companies has reached the level of 100 billion yuan. Oriental Fortune Network information shows that as of October 20, the market capitalization of Lulai Automobile is 34.82 billion US dollars, Xiaopeng Motor's market capitalization is 14.28 billion US dollars, and ideal Automobile's market capitalization is 16.04 billion US dollars.

In addition to the above three enterprises, Weima Motor, United Motor, and Skyline Motor are also preparing for IPO.

Recently, according to the Shanghai Securities Regulatory Bureau, Weima Automobile has officially started mentoring and filing, and plans to issue shares for the initial public offering and listing in Science and Technology Innovation Board. The funds raised will mainly be used for intelligent technology research and development, brand building, digital marketing and channel development. The mentoring agency is CITIC Construction Investment.

After raising 5 billion yuan, Skyline also said that it had started preparations for IPO and planned to go public in 2021. Zhang Hailiang, CEO of Skyline, said confidently: "there is no problem with the current financial support until listing."

Zhang Yong of United Motor once told the media that United Motor is preparing for the listing of the Kechuang board, and its established intermediary companies and underwriters have been stationed in the company for several months, starting to provide pre-listing tutoring to the company, hoping to apply for the Kechuang board IPO next year.

At the same time, there has been an update on FF, which has been developing IPO since early 2019, just days before the announcement of a new round of financing, FF chief executive Bi Fukang said that FF planned to complete a listing deal through a reverse takeover with a special takeover company.

However, it is still unknown which company will take the lead in landing on the Kechuang board. Before that, new car-building forces such as Singularity, Boxun, Green Chi, Zero run, and the future have all indicated that they are considering landing on the Kechuang board. However, due to various reasons, there is no sound in the listing plan.

The killing of the four Kingdoms is a foregone conclusion?

In addition to funds, another major problem facing the new power of car-building is mass production. If you take a closer look at the new power of car-building enterprises, there are only a few companies that have achieved mass production, among which the sales volume of Ulai, Xiaopeng, ideal and Weimar can be regarded as the top four enterprises.

The latest sales figures show that Lailai delivered 4708 vehicles in September, an increase of 133.2 percent over the same period last year, the seventh consecutive month of year-on-year growth; 12206 vehicles were delivered in the third quarter, up 154.3 percent from the same period last year, with a total of 26375 vehicles delivered in the first three quarters. Weima sold 2107 vehicles in September, up 38.8% from the same period last year. In the third quarter, it sold 6200 vehicles, up 79.3% from the same period last year. Since its delivery in September 2018, Weima EX5 has sold nearly 36000 vehicles. Xiaopeng delivered 3478 vehicles in September, up 145 per cent from a year earlier, and 8578 in the third quarter, up 266 per cent from a year earlier. Ideal ONE delivered 3504 vehicles in September, an increase of 29.3% month-on-month. From January to September, ideal ONE delivered a total of 18160 vehicles, of which 8660 were delivered in the third quarter, up 31.1% from the second quarter.

Followed by Hezhong, Guoji Zhijun, Yundu New Energy and other enterprises also have certain sales. According to sales data compiled by Gaishi Automobile, Guomi Zhijun sold 510 vehicles in September, an increase of 13.33% month-on-month to 2887 units from January to September, and Hezhong Motor sold 2023 vehicles in September, an increase of 67.88% over the previous month. Year-on-year increase of 102.10% the cumulative sales from January to September was 9246. Zero-running cars sold 1050 vehicles in September, compared with 3741 this year. Yundu New Energy sold 686 vehicles in September, up 209.01% from a year earlier, with cumulative sales of 1764 vehicles from January to September.

In addition, Skyline, which has just announced its financing of 5 billion yuan, has finally announced the official launch of its first production car, the ME7, with a total of five models, with a range of 410km and 530km for the NEDC, with a price range of 218800 to 289800 yuan after comprehensive subsidies. The Singularity car, which is known as the "ticket-jumping king" by the industry, has not yet been mass-produced and delivered. The mass production plan of Singularity Automobile has been delayed again and again, and when to achieve mass production is not only a difficult problem that Singularity needs to solve, but also a problem that many parties pay close attention to.

It is not difficult to see that in terms of sales volume, the echelon division of the new forces of car-building is relatively obvious, so can the new forces of car-building form the situation of Weilai, Xiaopeng, Weima, and the ideal four Kingdoms?

Ren Wanfu said that several car-building new power enterprises in the head have made phased achievements, whether they can always take the lead, or whether they have to play a question mark. The "new" of car-building new forces lies in the introduction of new technologies and new products, and their mastery of the Internet. at present, the competition of car-building new forces in the market segment is not sufficient, and it is not surprising that other new car-building enterprises have emerged. Although these enterprises occupy the first-mover advantage, if other new car-building enterprises have capital blessing, quickly achieve mass production, and launch more models to attract consumers, it may form a situation of letting a hundred flowers blossom.