AutoBeta(AutoBeta.net)10/31 Report--

Today, according to public information from the Beijing property right Exchange, Shenzhen Boyong Zhi Motion, the fifth largest shareholder of Singularity Automobile, plans to transfer its 6.3753% stake, which is transferred by Shenzhen Boyong Zhi Zhi Future Investment Partnership. Transfer 6.3753% stake in Smart car Youhang Technology (Shanghai) Co., Ltd.

According to enterprise investigation, Smart car Youxing (Shanghai) Co., Ltd. is the main operator of the new power of car-building, Singularity Automobile. Smart car Youhang was established in October 2014, and its business covers new energy vehicles, intelligent vehicle systems, and vehicle networking services. The main product is Singularity Automobile.

The legal representative, major shareholder and actual control of smart car you bank is Shen Haiyin, which holds 25.73% of the shares, but holds 6.38% of shares in Boyong Zhijin, which is the fifth largest shareholder of smart car you bank.

Shenzhen Boyong Zhidong, founded on May 10, 2017, is an investment-oriented company. The largest shareholder of the company is Beijing Guotai Yijia Technology Development Co., Ltd., with a shareholding ratio of 66.67%.

Anhui Singularity Intelligent New Energy vehicle Co., Ltd., a subsidiary of Smart car Youhang, was established on October 25, 2016 and released its first medium-and large-scale pure electric SUV-iS6 in April 2017.

In April 2018, Singularity received a financing of 3 billion yuan from Shanghai Boyong. In August of the same year, Japan's Itochu Corporation paid 1 billion yen for a 1.12% stake in Singularity Motor. On October 12 this year, Singularity received another financing of nearly 100 million US dollars from Itochu Corporation of Japan. After the financing was completed, Itochu had a stake of about 7 per cent, making it the second largest shareholder after Shen Haiyin, founder of Singularity and CEO.

So far, Singularity Automobile has completed eight rounds of financing, including Qihoo 360, Lenovo Star, Tao Yun Capital, Boyong Fund and so on, with a total financing amount of more than 17 billion yuan.

According to the equity transfer announcement, the financing is mainly used for the mass production delivery of Singularity pure electric SUV iS6 models, and prepares ahead of time for the follow-up IPO. Singularity Automobile CEO has promised to complete mass production delivery of the car in the fourth quarter of 2019.

In fact, as early as January 2018, Shen Haiyin said that Singularity iS6 would be mass produced and listed at the end of 2018. Embarrassingly, 10 months later, Shen Haiyin announced that Singularity iS6 would be postponed to around the Spring Festival in 2019, but mass production is still a long way off.

The iS6 is the first model of Singularity and one of the most important products of Singularity. After the subsidy of new energy vehicles has fallen back in 2019, they can no longer enjoy the subsidies, the overall automobile market is depressed, and the new forces of car-building have encountered frequent setbacks. Although Singularity has received financing for many times, it is still plagued by funds. The time for mass production of the first model is uncertain, even if IPO will have a good time.

In addition, the equity transfer announcement also revealed that Singularity Automobile plans to land on Kechuang Board and has made relevant contacts with securities firms. According to exchange documents, new energy vehicles, key parts of new energy vehicles, power batteries and related technical service enterprises have become key areas of scientific and technological innovation recommended by sponsors.

Welcome to subscribe to the WeChat public account "Automotive Industry Focus" to get the first-hand insider information on the automotive industry and talk about things in the automotive circle. Welcome to break the news! WeChat ID autoWechat