On April 17, some media reported that "Yundu Automobile stopped production in February this year because of a broken capital chain."
In response to the above news, a person from Yundu Automobile responded to Science and Technology Innovation Board Daily that "We stopped production mainly because of battery problems. Now the new supply has been confirmed and production is expected to resume in two months."
However, the "Science and Technology Innovation Board Daily" reporter tried to further understand the current situation of Yundu automobile capital chain, as of the press release, the person has not yet responded to this.
Gao Haiyuan compound material intends to transfer 11% of its equity
According to Sky Eye check information, Yundu Motor was founded on December 4, 2015 with a registered capital of 900 million yuan. Among them, Fujian Automotive Industry Group Co., Ltd. contributed 351 million yuan, accounting for 39%; Putian State-owned assets Investment Co., Ltd. contributed 310 million yuan, accounting for 34.44%; Liu Xinwen contributed 140 million yuan, holding 15.56%. Fujian Haiyuan Automation Machinery Co., Ltd. contributed 99 million yuan, holding 11%.
So far, Yundu Automobile has received three rounds of financing, including Haiyuan compound Materials, Putian China Investment, Fuqi Group, and Huaxing Venture. Among them, the latest round of financing took place on March 18, 2021.
Recently, Haiyuan compound Materials announced that it would transfer 11% of its shares in Yundu New Energy Automobile Co., Ltd. to Zhuhai Yucheng Investment Center (limited partnership) (hereinafter referred to as: Zhuhai Investment) at a transfer price of 22 million yuan. It is reported that after the completion of the transaction, Haiyuan compound material no longer holds a stake in Yundu company.
As early as at the beginning of the establishment of Yundu Automobile, Haiyuan compound Materials invested 99 million yuan to buy shares, but now it "clears its stock" with 22 million yuan.
As for this move, Haiyuan compound Materials said, "this transaction will help to promote the withdrawal of the company's financial investment and non-core business assets, recover investment funds and increase the company's working capital." If this transaction can proceed smoothly, it is expected to have a positive impact on the company's net profit of about 16 million yuan. "
Xin Wanda appeared behind the shareholders.
After the above equity transfer, the latest shareholders of Yundu Automobile are as follows: Putian State-owned assets Investment Group Co., Ltd. holds 43.44%; Fujian leading industry equity investment fund partnership (limited partnership) holds 30%. Zhuhai Investment holds 26.56%, which is the third largest shareholder of Yundu Automobile.
A reporter from Science and Technology Innovation Board Daily noted that Lin Mi is the executive partner of Zhuhai Investment. According to Sky Eye check information, Lin Mi is also a director and manager of Yundu Motor.
In addition, by combing the equity penetration map, a reporter from Science and Technology Innovation Board Daily found that Zhuhai Investment was jointly owned by Shenzhen Qianhaitian Investment Management Partnership (Limited Partnership) (hereinafter referred to as: Shenzhen Mitian) and Lin Mi. Among them, the former holds 99.4% of the shares, while Lin Mi holds only 0.6%.
Further, Shenzhen Zaitian is wholly owned by Wang Mingwang and Wang Wei, the controlling shareholders of Xinwangda.
Where will Yundu car go?
According to the above announcement, Yundu Motor had revenue of 67.7632 million yuan and net profit of-213 million yuan in 2021, while from January to March of 2022 (unaudited), the company had revenue of 6.6025 million yuan and net profit of-55.7136 million yuan.
As of March 31, 2022 (unaudited), the total assets of Yundu Automobile are 1.652 billion yuan, the total liabilities are 1.682 billion yuan, and the net assets are-30.7964 million yuan. It also means that the company is in an insolvent situation.
At the same time, Haiyuan compound material mentioned in the announcement, "Yundu New Energy Automobile Co., Ltd. and its subsidiaries consolidated statement each year net profit is negative, and the loss situation is more and more serious." At present, because of the broken capital chain, Yundu has been in a state of suspension since February 2022. "
In addition to the capital chain, "the state subsidy and land subsidy in the new energy vehicle industry are declining year by year, and the subsidy income has a significant and unpredictable impact on the operation of Yundu Company; affected by the shortage of chips in the market and battery supply in short supply, it has also had a great impact on the production and operation of Yundu Company." Haiyuan compound wood said.
In terms of products, the official website of Yundu Automobile shows that there are three models on sale at present, namely: π 1 PRO, π 3 PRO, π 3 Emeleshock, with a price range of 10-150000 yuan.
On the sales side, Yundu π 1 sold 185 vehicles in January, up 1.09% from the previous month, down 49.04% from the same period last year, while Yundu π 3 sold 79 vehicles, up 1.28% from the previous month, down 49.36% from the same period last year.
With the increasing competition in the new energy vehicle market, the time left for Yundu Automobile to save itself is limited. At present, Yundu Motor, which is caught in the plight of stopping production, huge losses and insolvency, if there is no continuous "blood transfusion" of external funds, its follow-up operation may face greater challenges.