AutoBeta(AutoBeta.net)03/09 Report--

Chinese electric cars Xiaopeng, Ulay and ideal are scheduled to list in Hong Kong this year to attract more investors and are in discussions with several banks, according to Reuters, citing people familiar with the matter. The three car brands plan to sell at least 5 per cent of their shares, raising a total of $5 billion based on the market capitalisation of US stocks, according to sources.

In response to the market news, Xiaopeng, ideal and NIO all replied that they would not comment.

It is worth mentioning that last week, when asked about his listing plans in mainland China, Gu Hongdi, president of Xiaopeng Motor, said, "in the long run, it is helpful for consumer-centered companies like ours to establish ties with domestic capital markets and domestic investors. Therefore, the listing of Science and Technology Innovation Board is within our consideration. " However, Mr Gu declined to comment on whether it would be listed in Hong Kong.

However, some industry insiders said that this is not the best time for the three car companies to go public, because recently, the share prices of the three new energy vehicle companies have retreated sharply from their recent highs, and the total amount of listing financing is relatively small.

As of March 8, U.S. stocks closed at $35.21 a share, down 43.97% from a high of $62.84 on February 9. Xiaopeng shares closed at $26.92, down 52.26% from $56.39 on January 25. Ideal Motor shares closed at $21.33 per share, down 41.97% from $36.76 on January 12.

Recently, three car companies announced their financial results for 2020. According to the financial report, the revenue of Xilai Automobile in 2020 was 16.258 billion yuan, up 107.77 percent from the same period last year; the revenue from ideal cars was 9.461 billion yuan, up 3231.33 percent from the same period last year; and Xiaopeng Motor was 5.844 billion yuan, up 151.79 percent from the same period last year. At present, none of the three enterprises has achieved the ability of self-hematopoiesis and is still in a state of loss, but the gross profit margin has become positive, getting rid of the situation of "losing one car at a time".

It is reported that the three companies plan to return to Hong Kong to list in order to raise more funds to meet the needs of technology development and expansion of sales network, so as to better compete in China's electric vehicle market.

2021 is seen as a key year for electric carmakers to grab market share. At present, in addition to Tesla, Baidu and Foxconn have announced that they are building cars, and SAIC, Changan, Great Wall, BAIC and Dongfeng all plan to launch new high-end new energy brands. It can be said that when new energy becomes the future development trend of the automobile industry, the track of the domestic new energy market will be narrower and narrower, which will also bring greater competitive pressure to the automobile industry.

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