Text | Carry the pot to punch
Where did Xu Jiayin go?
On Monday, when Evergrande Group, Evergrande Automobile and Evergrande Property, three Evergrande companies, announced that they were going to publish internal information about the emergency suspension of trading, the reporters who followed the report found that boss Xu could not be found.
On Tuesday, Evergrande Group, Evergrande Automobile and Evergrande Property announced that they would postpone the release of their annual reports, and Boss Xu still did not know where.
Evergrande Property's 13.4 billion deposits were enforced by the bank, and Boss Xu is still missing. This is the only remaining capital on the books of Evergrande Property, and in the middle of last year, Evergrande Property only had 14 billion in cash on its books.
On Wednesday, Boss Xu finally had news.
Two days ago, Boss Xu was absent from the company's investor meeting and went to the mobilization meeting of Evergrande Automobile.
At the mobilization meeting of "Three Months of Hard Work to Achieve Hengchi 5 Mass Production" inside Evergrande Automobile, Boss Xu said with a red face that he would "fight day and night, work hard, and on June 22, we must achieve the mass production of Hengchi 5 and lay a solid foundation for the healthy and sustainable development of Evergrande's automobile industry".
Coincidentally.
The Guangzhou Intermediate People's Court said in a delivery announcement that boss Yao Zhenhua, the helmsman of Baoneng, Wang Shi's lifelong enemy, intellectual, and pioneer of cross-industry car manufacturing, is also "missing." Of course, how can this billionaire, who is also worth tens of billions, suddenly disappear in place, there must be something more "imminent" to do.
Same plot, similar development.
Boss Yao said that he went to Baoneng Automobile's Shenzhen factory to check the resumption of work and production of the factory, and by the way accepted an interview with CCTV that he owed some interest, and 7 small targets were moved to pay back, hoping that everyone would not over-interpret.
Like Evergrande, Baoneng held round after round of meetings on "Baojiaolou", but according to people in the real estate circle, Boss Yao was energetic and enthusiastic about the work of new energy vehicles.
Same as Boss Xu.
Evergrande Real Estate exploded in September 2021, and Baoneng Group also encountered temporary capital turnover difficulties in June, and their statements are similar - the fundamental reason is the huge capital investment in the manufacturing industry, as well as the impact of the epidemic and real estate regulation. But even in the face of difficulties, the two bosses still hope to devote themselves to the transformation of manufacturing.
In the conventional sense, China has eight pillar industries, of which real estate accounts for about 7.5% of the mainland's GDP, and the automobile manufacturing industry, as a part of the manufacturing industry, is still a laggard in the industry in 2021, and the added value increased by only 5.5% year-on-year, and the growth rate is slightly lower than that of industrial enterprises above designated size in the country in the same period.
The new energy industry is a bright track that is visible to the naked eye, where there is no shortage of giants, no shortage of catch-ups, and no shortage of new troops who want to subvert the existing rules.
Tesla is a subversive for traditional OEMs, and a group of new car-making forces led by Wei Xiaoli are subversives for Tesla, and now it is the turn of Evergrande and Baoneng to act as subversives and launch a charge against the market opened up by the new car-making forces.
No one can sleep in the book of merit, and the constant entry of new people, the influx of funds, will force all the players on the track to run for their lives.
Evergrande repeatedly gave itself chicken blood, this means seems to be very "retro", can not stand to use, the new car off the line 12 days in advance to complete, although this time the new "big dry three months" has some "mass production for mass production" feeling, once completed will create an unprecedented car speed miracle.
Regardless of success or failure, at least it has worked hard, it may become a talking point after dinner, and it may also become a subversive of the existing production progress and sales model, so what, the new forces of "real estate" that work hard to build cars must leave a deep impression and case on the fiercely competitive automobile market and impetuous investment institutions.
If I remember correctly, Evergrande's resumption of work and production was entrusted to local governments for stability, and the funds in the supervision account were transferred to the government platform company account, and the realization of various assets was not optimistic. For example, when Hopson wanted to acquire Evergrande Property, the only best target left in Evergrande, it found that Evergrande received a three-fold discount on the property fee 20 years later.
In the end, the acquisition failed, and it is said that Boss Xu personally stopped the business. The bag is hollow, the money cannot flow in, there is a large opening underneath, and there is a gap of 20 billion yuan in a certain area in the north, which has not been landed until now.
Hengchi 5 Tianjin factory resumed work and production, October 8, 2021 "100 days of Dagan Tianjin factory first car off the production line", and this year's "dagan three months to achieve Hengchi 5 mass production" funds, all are Xu Boss's own pocket.
There is a saying inside Evergrande, "Tianjin is the Changjin Lake of Evergrande Automobile, and it will also be the Normandy of Evergrande Automobile", Tianjin is the place where the dream of Evergrande Automobile artificial car began.
Evergrande's new energy automobile factory in Nansha has not yet been opened, and it is already facing the problem of staying, which cannot be compared.
Why is Tianjin so important to Evergrande Automobile?
When Evergrande Group was in crisis, the focus of the automobile section was "going north", and there was naturally a factory of Guoneng Automobile in Tianjin.
Evergrande's license comes from the equity acquisition of swedish electric vehicle company NEVS, and on January 15, 2019, Evergrande acquired a 51% stake in NEVS for 930 million US dollars, obtaining a "double qualification" that can independently produce and sell pure electric passenger cars.
On June 29, 2019, Evergrande New Energy Automobile Group Guoneng 93 model mass production rolled off the production line.
On August 3, 2020, Evergrande Automobile Group released six new Hengchi cars in one go, just in line with the previous Evergrande Automobile's statement to launch a 100% "Evergrande-made" new car, covering entry-level, mid-range, high-end, high-end, ultra-high-end and other new models of a full range of products.
Why Hengchi 5?
In the eyes of Boss Xu, this car has the shape of the world's top design master Nakamura Shiro team, the new generation of intelligent cockpit of Tencent Baidu double ecology, the industry's latest CTP battery technology, and the safety protection level designed according to the standards of C-NCAP five-star and C-IASI (China Insurance Research Institute), which is a proper hit.
The price paid is to speed up the disposal of overseas assets, move office locations from office buildings to factories, suspend core management salaries, and scientific research and technical personnel get new options, focusing all resources on the Tianjin base.
The results are remarkable, the last time "three months of big dry", January 12 Hengchi 5 first car off the production line, the time is 12 days earlier than the original plan, Hengchi 5 also entered the Ministry of Industry and Information Technology official website latest release of the "road motor vehicle manufacturers and products" (the 353rd batch) list, through the new car one-month publicity period, with sales qualifications.
One foot away from the mass production door.
In Evergrande's planning, Hengchi 5 is a compact pure electric SUV, the price will be less than 200,000 yuan. The sales of Hengchi 5 will still go through the industry's unique community car sales model - Evergrande Ecology (Evergrande Real Estate has more than 1,300 projects in more than 280 cities, more than 10 million Evergrande owners), which is a perfect ecological closed loop.
Of course, specific operations, such as the difference between the real estate sales process and the automobile sales process, the flow of funds, the establishment of service systems and feedback mechanisms, etc., how to make the two one, there are also some improvements. How Evergrande will integrate the two systems is also worth playing.
In addition, most of the more popular new energy vehicle companies, including Tesla, will implement the sales strategy in the way of first making up and then delivering, such as the next intention to pay in January, pay the balance in three to six months, and the main engine factory arranges production and delivery according to the payment time, so as to eliminate the inventory risk as much as possible, and at the same time quickly return funds and embark on a positive cycle.
Evergrande has a real estate thunder "pearl in front", can Hengchi 5 embark on such a pre-sale road that requires the trust of the industry? There is still a lot of work to be done in the early stage.
The real estate owner said that the 134 small targets that were enforced, first deposited by a Evergrande property executive in the bank, and then pledged financing with a large deposit certificate, are likely to be the logic of one subsidiary of the group guaranteeing another subsidiary.
Who is the third party who implements mutual insurance within the group with Evergrande Property? I don't know if it is Evergrande Automobile, it is too difficult to guess, because there are too many places where Evergrande Group needs to use money at present.
But I suddenly thought of a sentence, "We focus almost all the resources of Evergrande Automobile on the Tianjin base", are these 134 small goals one of the "almost all resources"?