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Recently, some media reported that the main body of Singularity Automobile operator Smart car Youhang Technology (Shanghai) Co., Ltd. received equity financing, invested by Zhuhai Aodong Investment Co., Ltd. And Guohou Capital. According to the report, Shen Haiyin, CEO of Singularity Automobile, revealed that the financing quota for the round was 1 billion yuan.

Through the enterprise investigation, it was found that the capital of Smart car did change, and the registered capital increased from 80.653441 million RMB to 88.372859 million RMB. However, Singularity officially denied the media reports: "the 1 billion yuan financing and equity financing of Singularity Automobile are not true, and CEO Shen Haiyin has not disclosed any information that has not been officially confirmed by both sides of the financing."

Refute the rumor behind the financing of 1 billion yuan, is the hidden words of this car company, the first model has not yet been released on the market, Science and Technology Innovation Board listing is a long way off.

Singularity Automobile is a member of the new power of car building, and its main operator is Smart car Youhang (Shanghai) Co., Ltd., which was established in October 2014. Its business covers new energy vehicles, smart vehicle systems and vehicle networking services. In April 2017, Singularity released its first medium-and large-scale all-electric SUV iS6 and announced small batch production at the end of the year. In January 2018, Shen Haiyin said that Singularity iS6 would be put into mass production by the end of the year. In October 2018, Shen Haiyin said that the listing of Singularity iS6 would be postponed until around the 2019 Spring Festival. The launch of the new car has been delayed again and again, and there is still no exact time to go to market. Singularity said that due to the epidemic, it will certainly not be able to go public in the first half of this year. As for whether it can be listed in the second half of this year, no more information has been disclosed.

It is worth mentioning that in addition to the iS6, Singularity has also launched an A0-class mini electric car, the iC3, which is scheduled to go on sale in the first quarter of 2021, and the MPV iM8, which has no more information. In other words, Singularity has released three models so far, but none of them have been delivered on the market.

In addition, it was reported that Singularity would be listed on the Kechuang Board in July 2019. At that time, Shen Haiyin said that Singularity might be the second or third batch of cars on the market, and all aspects were still in the stage of preparation, but nearly a year had passed. The registration board is still a long way off.

Under the impact of the epidemic, many car companies have fallen into a storm of wage cuts and layoffs, production and shutdowns. The new car-building force of "corner overtaking" is also dying. As a member of the new car-building force, Singularity Automobile, which refutes rumors of financing, is the predicament of the car company's "difficult birth", and seeking more financing is one of the necessary conditions for its development.

Car-building, once a vigorous new force, began to show a trend of polarization under the epidemic. Car companies such as NIO, Xiaopeng, ideal, Weima, and other car companies, which are walking at the front of the market, temporarily have signs of "survival," but at present, they are not optimistic, while the future, Ranger, Skyline and other new car-building enterprises hovering on the edge of the market are full of uncertainties whether they can survive the cold winter of the car market. As far as Singularity is concerned, the launch of the new car has delivered many ticket jumps, and how long can Singularity persist in the context of intensified elimination in the market.

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