AutoBeta(AutoBeta.net)02/11 Report--

Xilai ended 2019 with sales of 20565 electric vehicles, but declined in the first month of 2020. On February 10th, Xilai released sales figures, delivering a total of 1598 new cars in January, down 11.5% from a year earlier.

In terms of specific models, 1493 were delivered by ES6 and 105 by ES8 in January. Among them, sales of ES8 electric vehicles fell sharply, down 95% from a year earlier, from 1805 in the same period last year to 105 in January this year, largely due to internal competition in the delivery of their own model ES6.

Xilai said that the decrease in delivery volume compared with the same period last year was mainly due to the reduction in working days during the Spring Festival holiday in 2020, as well as factors such as the novel coronavirus epidemic and the extension of holidays, which also affected sales performance.

Li Bin, CEO of Xilai Motor, said, "despite the impact of the novel coronavirus epidemic, we achieved satisfactory results in January. During the duration of the epidemic, the safety of our employees and owners is still our top priority. I would like to thank our users and employees for their support during the special period. Xilai user Trust has decided to raise 5 million yuan of special funds to support Xilai users and other people in need."

NIO also said that manufacturing and delivery are expected to decrease in February due to the extension of holidays as a result of the epidemic.

The announcement follows the completion of a cumulative $100m convertible bond financing project by two Asian investment funds worth $70 million and about $30 million respectively, both of which are "unrelated parties".

For the shortage of funds, the $100 million convertible bond financing will be able to maintain the normal operation of NIO.

According to sources, the bond issued by Ulai to the buyer has an interest rate of zero and will mature on February 4, 2021. After the maturity of the convertible bond, the buyer can ask Wei to repay the principal, or convert it into NIO stock at the agreed price of US $3.07 per share.

Due to the continued huge losses in operation, the hindrance of financing projects, and the slow progress of the 10 billion financing project previously reached with Beijing Yizhuang Investment, there is pressure on NIO funds, and "convertible bond financing" has become a popular way to obtain new funds. At the third-quarter earnings call at the end of last year, NIO said that $200 million of convertible bonds from Tencent and Li Bin had also been nearly completed.

According to the NIO financial report, revenue in the second quarter of 2019 was 1.508 billion yuan, with a net loss of 3.285 billion yuan belonging to shareholders, while revenue in the third quarter was 1.837 billion yuan and a net loss of 2.451 billion yuan.

NIO revealed that the company is currently carrying out several other financing projects, and the results at this stage are uncertain. Li Bin also said that recently, the whole company has been actively raising funds, and many aspects are moving forward, including some departments that can operate independently, and the issue of independent financing is being promoted.

In the face of the impact of the pneumonia epidemic infected by novel coronavirus, Qin Lihong, president of Lulai, said that in the short and medium term, the automobile industry and even the entire macro-economy will be greatly affected by the epidemic, and the cold winter of the car market will intensify, and the challenge will be even more difficult. this is even more serious for the new car-building forces that are still on the brink of life and death.

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