How much did you know about electric vehicles in 2015? City rail electric bus? Or an electric bicycle in a wet market? There is such a new energy vehicle company, established as early as 2015, in January 2017 obtained the new energy vehicle production license issued by the National Development and Reform Commission, becoming the tenth enterprise in China to obtain the production qualification of new pure electric vehicles, and becoming the second new energy passenger car manufacturer approved by the Ministry of Industry and Information Technology. Judging from the above resume, this Yundu automobile brand not only produced the first batch of new power models in China when Tesla was still in the United States, but also enjoyed the care of subsidy policies and regional support policies before "Wei Xiaoli", which has been five years since 2017, and Yundu Automobile is only one of the precarious new energy vehicle brands in the eyes of most car consumers.
Even not long ago, one of the four shareholders of Yundu Automobile at the beginning of its establishment: Jiangxi Haiyuan Composite Material Technology Co., Ltd. (hereinafter referred to as Haiyuan Composite Materials), announced on April 13 that the company deliberated and passed the "Proposal on the Proposed Transfer of equity in the participating company", and will hold 11% of the shares of Yundu New Energy Automobile Co., Ltd. (hereinafter referred to as "Yundu Automobile") to Zhuhai Yucheng Investment Center Limited Partnership (hereinafter referred to as "Zhuhai Investment"). It should be known that Haiyuan Composite, as one of the listed companies with the largest and largest suppliers of hydroforming technology and equipment in the world, has 11% of its shares in Yundu Automobile at the beginning of its establishment with a capital contribution of 0.99 billion yuan, that is, at least 99 million yuan, while the share transfer price of Yundu Automobile can be "shrunk" to 22 million yuan. What is the reason for Haiyuan Composites to choose to get rid of Yundu new energy vehicles in 2022, when the new energy demand is at a climax?
Review the background and references of the establishment of Yundu Automobile
In 2015, Yundu New Energy Automobile Co., Ltd. (Yundu Automobile Brand) was established by Fujian Automobile Industry Group Co., Ltd., Putian State-owned Assets Investment Co., Ltd., personal management team, Fujian Haiyuan Automation Machinery Co., Ltd., and 900 million yuan. Compared with Li Bin of Weilai Automobile, He Xiaopeng of Xiaopeng Automobile, Li Xiang of Ideal Automobile and other private electric new power brands, the four capitalists of Yundu Automobile have established a mixed ownership system.
At that time, Yundu Automobile was 39% owned by Fuqi Group, Putian State-owned Assets Investment Co., Ltd. held 34.44% of the company's shares, Fujian Haiyuan Automation Machinery Co., Ltd. invested 0.99 billion yuan, accounting for 11% of the shares, and the management team held 15.56% in cash. Among them, the first two are SASAC enterprises, and the listed company Haiyuan Machinery is one of the world's largest product categories, one of the largest hydroforming technology and equipment suppliers, in terms of personal management team lineup, the chairman and general manager of Yundu Automobile at that time was Mr. Liu Wenxin (who was the general manager of Chery New Energy Automobile Technology Co., Ltd.), and another management team member in the same period was the executive deputy general manager of Yundu Automobile, the general manager of the marketing center (previously the vice president of the American Celgard company, Vice President of BYD Denza Corporation), deputy general manager of Yundu, is held by Mr. Bao Xudong (previously the director of Denza North China). The above background and the resume of the management team can not be described as luxurious at the time point of 2015, at least in the domestic new energy companies in the same period, there is no new power brand that can match Yundu Automobile.
Highlight moments of the cloudy car
As the saying goes, "Everyone has a brilliant moment, don't take a moment as a permanent". Although Yundu Automobile is no longer famous in the new energy vehicle consumer market, with the blessing of the above luxury investors and personnel lineups, Yundu Automobile has indeed been ahead of the domestic new energy vehicle sales market for a period of time.
Since the establishment of Yundu Automobile New Energy Company in 2015, in just one year, Yundu Automobile obtained a new energy vehicle production license in January 2017, and officially released the new energy vehicle brand of Yundu Automobile in February of the same year. From the launch of the brand to the Shanghai International Auto Show in April 2017, two models were unveiled: Yundu π1 and Yundu π2, and Yundu Automobile took only two months. In addition, it took only half a year for Yundu π1 to be released on the market in October 2017, while another model, Yundu π2, was released in March 2018.
It should be known that at that time, Weilai Automobile only released one model of Weilai ES8. If the impression of this point in time is not deep, then in other words: when most of the "new car-making forces" car companies in the same period were still in the PPT car-making stage, Yundu Automobile ran through the process of "research and development, delivery, and after-sales" early. In terms of sales, according to the data released by the China Association of Automobile Manufacturers, the sales volume of new power car companies reached 26,000 vehicles in 2018, of which Yundu delivered 9,300 units, with a market share of nearly 0.6%, becoming the new force with the earliest delivery and the largest delivery. However, this sales volume has also become the highest light moment of Yundu Automobile up to now.
The trough after the highlight, Yundu automobile sales, profitability, double fold sand
In fact, although Yundu Automobile is at the forefront of the new car-making forces in the same period, the development of Yundu Automobile in the domestic new energy vehicle market is not optimistic. Although Yundu Automobile's annual sales performance in 2018 was considerable, with the blessing of various influential people, Yundu Automobile set a small target of "35,000 units per year" in early 2018, but finally only completed 26.6% of the annual target; in 2019, sales fell again to 2,566 units. At the same time, Lin Mi, one of the founders of Yundu, left Yundu New Energy in 2018, and in the following years, Yundu Automobile's sales have not broken through the high point of 2018 due to factors such as product quality, safety, cost performance, and industry competition, and now they have fallen behind rapidly in the tide of new energy vehicles. Sales continued to be sluggish, and the previously planned Yundu X-π concept car and Yundu π7 were never born.
In addition, according to the data, the net loss of Yundu Automobile from 2017 to 2020 was 0.95 billion yuan, 138 million yuan, 177 million yuan and 204 million yuan, respectively. According to the financial report, in 2021, Yundu Automobile's revenue was 67.7632 million yuan, with a net loss of 213 million yuan, and in the first quarter of 2022, the company's revenue was only 6.6 million yuan, with a single quarter loss of 55.71 million yuan, and the loss situation was becoming increasingly serious. In the announcement released by Haiyuan Composite, it was also disclosed that Yundu Automobile's total revenue in 2021 was 67.7632 million yuan, with a loss of up to 213 million yuan; the revenue in the first three months of this year was only 6.6025 million yuan, and another loss was 55.7136 million yuan. As of March 31, 2022 (unaudited), Yundu Auto's total assets were 1.652 billion yuan, total liabilities were 1.682 billion yuan, and net assets were -30.7964 million yuan.
The equity was turbulent, and the four original shareholders of Yundu Automobile no longer insisted
Yundu new energy vehicles, which bear the investment of state-owned enterprises of both parties and a number of veterans in the industry, are undoubtedly "the peak of debut". The failure in terms of sales volume and performance has led to the equity background of Yundu Automobile no longer being as "bright and beautiful" as before.
In 2020, Fuqi Group withdrew its shares, and its shareholding was undertaken by Putian SDIC and the new funding party Fujian Leading Industry Equity Investment Fund Partnership (Limited Partnership), the latter of which is the background of CITIC Trust Co., Ltd. and Fujian Industrial Equity Investment Fund Co., Ltd. After undertaking, Putian SDIC rose to the single largest shareholder, with the shareholding ratio rising to 43.44%, and the new shareholder Fujian Longtou Fund holding 30%. In the same year, Lin Mi, who had once run away, returned again in 2020.
In April 2021, Yundu Automobile held a shareholders' meeting, Liu Xinwen withdrew his shares, and his shares were taken over by Zhuhai Yucheng Investment Center (Limited Partnership) (hereinafter referred to as "Zhuhai Yucheng") according to Liu Xinwen's original capital of 140 million yuan. Zhuhai Yucheng is directly held by Lin Mi 49%, 51% owned by Shenzhen Qianhai Shutian Investment Management Partnership (Limited Partnership) (hereinafter referred to as "Shenzhen Yutian"), and the executive partner is Lin Mi, that is, Zhuhai Yucheng is actually controlled by Lin Mi.
Fierce will be in charge, Yundu's products are "dying"
Finally, in terms of products, whether it is the ideal One of ideal cars, the ES8 of Weilai Automobile, the Xiaopeng P7 of Xiaopeng Motors, and even the Model 3 of Tesla Motors, these new energy vehicle brands with high gold content in China undoubtedly have a representative product of the brand, and although Yundu Automobile released the Yundu π3 E-SHOCK Yaoyue version in December 2021, it is only a derivative of the Yundu π3 model that has been listed in 2018.
In 2018, Yundu π3 received only two stars in the crash test of C-NCAP, which is known as the "five-star wholesale department", which is the least safe model in the batch test. It is reported that after the impact, the A-pillar of cloud π3 has undergone a very serious deformation, and the main driving side door cannot be opened. As a high-end model in the previous mass production models of Yundu new energy vehicles, the achievements of Yundu π3 are lamentable.
In addition, electric vehicles have been the most feared "spontaneous combustion", And Yundu π3 has also been notorious for spontaneous combustion. In August 2019, a Yundu new energy π3 in Nanning, Guangxi Province, spontaneously combusted, and the fire location was located at the bottom of the rear of the vehicle, and the battery pack was suspected to have been damaged. Due to the lack of emergency extinguishing measures, the vehicle was almost burned down. Subsequently, the official released a compensation user and a survey statement, but the official Yundu Automobile has not announced the results of the spontaneous combustion investigation of Yundu π3 in 2019.
Auto Network Review: The first may not be a steady win
From the beginning, Yundu Automobile has relied on state-owned enterprises and veterans in the field of new energy to sell 9,600 vehicles in 2018. Presumably, the former Yundu Automobile has also been in front of people, and several pioneers sitting in the shareholders' conference room have also looked forward to the beauty of China's new energy development, but from the results of this stage, although Yundu Automobile "got up early" and backed by the "national team", today's development obviously did not meet the expectations of Yundu Automobile at the beginning of its establishment.
In fact, Professor Yang Shengbing, an autonomous driving expert, has long said: "The earlier batch of domestic new energy vehicle manufacturers belong to the action faction layout early, and the state has always had policy support, but new energy vehicles are affected by batteries, control system maturity, industry resource integration, technical teams, marketing, funds and other aspects, and it is not necessarily good to get up early." ”