AutoBeta(AutoBeta.net)09/14 Report--

On September 13th, Evergrande announced that the two subsidiaries of the group, Hengze and Carlitzer Tourism and Jinbi property, signed the Hengda Hengkang share transfer agreement and the Carlitzer share transfer agreement respectively, with a total selling price of about 47.54 million yuan.

The announcement shows that Jinbi property will buy all shares in Guangzhou Hengze for about 46.857 million yuan, with reference to Hengda Hengkang's net asset valuation of 46.8567 million yuan on June 30. Jinbi property will be paid to Guangzhou Hengze in cash before September 20. Jinbi property refers to Carlitzer property Management's net asset valuation of 684400 yuan on June 30 and will be paid to Carlitzer Travel in cash of 684400 yuan before December 31.

Upon completion of the sale, Evergrande will no longer hold any equity interest in Evergrande Hengkang and Carlitzer property management, and its performance will no longer be reflected in the company's performance. With regard to the sale of assets, Evergrande said that after the completion of the sale, the group will concentrate resources on the development of vehicle manufacturing business, make every effort to promote the research and development of Hengchi products, and constantly improve the product structure. fully cover the new energy vehicle market.

Earlier, China Evergrande Group announced that it was considering a separate listing of property management services and related value-added services on the Hong Kong Stock Exchange, which may also be related to Evergrande's sale of stakes in two subsidiaries. In addition, Xia Haijun, president of Evergrande Group, also said at the semi-annual report conference that the listing of Evergrande spin-off properties can effectively reduce Evergrande's net debt ratio.

In August this year, six new cars under Evergrande's new energy vehicle brand "Hengchi" were launched, and Hengchi 1, Hengchi 2, Hengchi 3, Hengchi 4, Hengchi 5 and Hengchi 6 were officially unveiled, covering A to D class models, as well as passenger cars such as cars, sedan cars, SUV, MPV, crossovers and so on. The first model will be put into production and launch next year. Liu Yongzhao, president of Evergrande Automobile Group, said at the meeting that Hengchi will start trial production in the first half of next year, mass production will be achieved in the second half of the year, and is confident that Hengchi will quickly seize the market after its listing.

The new energy vehicle business still needs Evergrande Group to continue blood transfusion. after a series of large-scale "buying and buying" and "circles", Evergrande's car-making business has also begun to enter the next stage. Earlier, Evergrande Chief Financial Officer Pan Darong said at the semi-annual report conference that Evergrande Group is expected to invest a total of 29.4 billion yuan in the automotive business. It invested 14.7 billion yuan in 2019 and 3 billion yuan in the first half of 2020, mainly invested in equity acquisition, base construction, research and development, equipment and so on. It is expected to continue to invest 2.7 billion yuan in the second half of this year and 9 billion yuan in 2021, with a total investment of 11.7 billion yuan. After Evergrande car mass production and sales, the group will no longer have investment.

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