AutoBeta(AutoBeta.net)02/17 Report--

Recently, Hillhouse Capital recently filed with the American Stock Exchange that as of December 31, 2019, Hillhouse Capital will no longer hold shares in Lulai Motor, and the cooperation between the two sides has officially come to an end.

According to data, Hillhouse Capital led the investment of US $100 million in the A-round financing of Xilai Automobile in 2015, and then continued to follow in the C-round financing and C + round financing. In September 2018, Xilai listed on the New York Stock Exchange, with Hillhouse holding 7.5% of its shares, making it the third-largest shareholder.

On January 30, 2019, Xilai issued a total of $650 million of convertible senior bonds, of which Hillhouse Capital bought $30 million. In the second quarter of last year, Hillhouse Capital increased its stake in Xilai Motor to 41.9383 million shares.

In the third quarter, Hillhouse Capital suddenly reduced its stake in NIO Automobile to 13.3689 million shares, a reduction of more than 68.12%. When Xilai announced its third-quarter results at the end of last year, Hillhouse Capital was emptying all its shares.

While Hillhouse Capital announced the emptying of its shares, Lailai announced the completion of a $100 million convertible bond financing project. On February 6, NIO announced the completion of a total of 100 million US dollars in convertible bond financing projects, invested by two Asian investment funds. A convertible bond financing project of US $200 million was completed in half a month, which is a timely help to the tight financial environment of Xilai Automobile.

According to the sales data of the China Automobile Association, China's passenger car sales fell 18% in January 2020 compared with the same period last year, and the sales of new energy vehicles fell by more than 54%.

In January this year, a sudden epidemic led to great changes in China's auto industry, car companies extended to return to work until the middle and second half of this month, and a number of car brands also showed a decline in sales last month.

According to data released by Xilai, delivery volume in January was 1598, down 11.5 per cent from a year earlier. Up to now, a total of 33511 cars have been delivered by Xilai. As for January's sales performance, Xilai said that due to holidays and the epidemic, there were only 16 effective delivery days in January, six days less than the same period last year. Lulai began to resume work on the 10th, but the epidemic is expected to have a greater impact on the sales performance of Lulai in February.

According to statistics, from 2016 to the first three quarters of 2019, the cumulative loss of Lulai Motor has reached 42.9 billion yuan. Among them, the net profit lost 2.52 billion yuan in the third quarter of last year, and the loss in the fourth quarter is almost certain. Although the convertible bond financing project of 200 million US dollars has been completed, the financial situation is still worried.

Li Bin, founder of NIO, said, "unlike other mature companies, it is still a start-up company that strives for survival." The attempt to watch and sell cars online has achieved very good results. "

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