Recently, GAC GROUP (601238) said in a conference call with analysts and investors that GAC Ean IPO will choose the time and place and does not rule out listing in Hong Kong.
Just last Friday, GAC GROUP just announced that the board of directors agreed to GAC Ean's capital increase through a private agreement, the implementation of employee equity incentives, GAC R&D CENTER's "upper and lower" shareholding of GAC Ean and the introduction of Synchronize into Chengtong Group, Southern Network Kinetics, and Guangzhou Aian as strategic investors, raising a total of 2.566 billion yuan.
After the implementation of employee shareholding and the introduction of war investment, GAC GROUP will launch GAC EAN A round financing and shareholding system reform according to the business development of GAC EAN, and introduce market-oriented strategic investors with strategic cooperation, policy guidance and market influence. we will earnestly promote the introduction of GAC-EAN mixed reform. Since then, GAC will make full use of the capital market, choose the time and place to seek listing, and establish an independent capital market platform to promote the sustainable development of the company and GAC Ean.
GAC GROUP also said that taking into account the impact of the completion of asset restructuring last year, GAC Ean is expected to achieve 30-400000 sales to break even. According to GAC GROUP's 14th five-year Plan, GAC Ean aims to sell 600000 vehicles in 2025. According to the current development trend of the new energy vehicle industry, it is estimated that in 2025, the market share of new energy vehicles is expected to exceed 50%, and sales are expected to exceed 10 million vehicles, far higher than the guidelines of relevant national industrial policies. GAC Ean hopes that at that time, the market share of the Eian brand will be among the top three in the new energy vehicle market, with a market share of at least 10%.
In addition, with regard to the supply of raw materials, GAC GROUP responded that in the face of rising prices of upstream raw materials, the prices of various brands of new energy vehicles have been raised, and the prices of GAC Ean models have also been adjusted. During the price adjustment, GAC Eian was also worried about the impact of price adjustment on trading volume, but the daily order volume returned to the level before the price adjustment 3-5 days after the price adjustment, reflecting that the market has certain expectations for the rise in the price of new energy vehicles. Consumers have a strong ability to bear the price, which exceeds GAC's expectations. Realistically speaking, if the rising trend of upstream raw material prices cannot be alleviated, GAC EAN does not rule out the possibility of continuing passive price increases. At present, GAC EAN has no plans to adjust its production and sales target for 2022 and looks forward to challenging higher targets.
On the "battery price increases will be transmitted to consumers", GAC GROUP believes that, first of all, the state is also concerned about the phenomenon of rising raw material prices, I believe that timely policies will be introduced to regulate and control. Second, the business community is also proposing to reduce the export of some energy storage batteries, thereby improving the supply of domestic power batteries. Third, the development of batteries has not yet reached the ultimate state, new technologies and new technologies are still emerging, GAC Ean has a large number of related technology reserves, technological progress and iteration will improve the relationship between supply and demand of batteries, so there is still upward pressure on battery prices in the short term, and battery prices will return to rationality in the long run.
With regard to the protection of automotive chips, GAC GROUP said that chips will not be deployed from other enterprises in the group for GAC Ean to use, which is mainly achieved through the use of good cooperation with the upstream and downstream of the supply chain. The company expects that chips will remain in short supply in the first half of this year. If geopolitical risks are improved, raw materials necessary for the relevant industry chain can be supplied normally, and chip supply is expected to improve in the second half of this year.
