AutoBeta(AutoBeta.net)08/19 Report--

According to the official website of the people's Bank of China, on August 19, 2021, responsible comrades of relevant departments of the people's Bank of China and the Banking and Insurance Regulatory Commission interviewed senior executives of Evergrande Group. The people's Bank of China and the CBIC pointed out that as the leading enterprise in the real estate industry, Evergrande Group must conscientiously implement the central government's strategic plan for the stable and healthy development of the real estate market, strive to maintain operational stability, and actively resolve debt risks. maintain real estate market and financial stability. At the same time, we should do a good job in disclosing true information on major matters in accordance with the law, and do not disseminate and clarify false information in a timely manner. From the perspective of the secondary market, Evergrande has been falling all the way in recent days, of which Evergrande Motor fell 14.53% to HK $10 per share, with a total market capitalization of 97.69 billion less than HK $100 billion. China Evergrande fell 4.76%, with a total market capitalization of HK $66.24 billion. Evergrande property fell 7.4%, with a total market capitalization of HK $64.97 billion.

It is worth noting that on August 17th, according to a notice issued by Shengjing Bank, a listed company of Hong Kong shares, two affiliated enterprises of Shenyang SASAC intend to transfer about 167 million domestic shares held by Evergrande Group (Nanchang) Co., Ltd. the transfer price is 6 yuan per share. Evergrande will cash out more than 1 billion yuan this time. According to the announcement, Northeast Pharmaceutical (000597) Group, affiliated to Shenyang SASAC, and Shenyang Shengjing Financial Investment Group will be transferred to about 138 million domestic shares and about 28.8333 million domestic shares held by Evergrande Nanchang at a price of 6 yuan per share, accounting for 1.57% and 0.33% of the total issued shares of Shengjing Bank, respectively.

According to relevant data, Evergrande Nanchang Shengjing Bank has 49.59% of its domestic shares, accounting for 36.40% of the total equity, making it the largest shareholder of the bank. After the reduction, Evergrande's stake in Nanchang will fall to 34.50 per cent, although Evergrande Nanchang remains the bank's largest shareholder. It is understood that Shengjing Bank was founded in 1997, headquartered in Shenyang, Liaoning Province, its predecessor as Shenyang Commercial Bank, renamed Shengjing Bank in 2007. In December 2014, Shengjing Bank listed on the Hong Kong Stock Exchange, raising a total of HK $10.395 billion.

Since June this year, there has been a lot of negative information about Evergrande. On June 7, Evergrande issued a statement saying that everything was normal in the company's production and operation, and that a very small number of commercial bills were not paid in time in some project companies. the group attaches great importance to and arranges payment; the financial business with Shengjing Bank is in line with the relevant laws and regulations of the state. On July 19, the Yixing branch of Guangfa Bank applied to freeze Evergrande's assets. On July 22, Evergrande and Guangfa Bank jointly issued a statement that the two sides reached a settlement. On July 28, Huaibei Mining sued Liuan Hengda, demanding that Evergrande Group bear joint and several liability. On July 30, Evergrande issued a clarification notice saying that Huaibei Mining had no legal and contractual basis and had raised objections.

"at present, Evergrande's interest-bearing debt is about 570 billion yuan, a sharp drop of about 300 billion yuan compared with more than 870 billion yuan at its peak last year," Evergrande Group said on June 29. " During this period, Evergrande also accelerated the pace of asset disposal. On June 20, China Evergrande transferred 739 million shares of Hengteng Network for a total of HK $4.433 billion; on June 21, it transferred 29.9% shares of Jiakai City for a total price of about 2.762 billion yuan. On August 1st, China Evergrande sold its stake in Hengteng Network again for a total price of HK $3.25 billion, reducing its shareholding to 26.55%. On August 2, Evergrande withdrew from Shenzhen High-tech Investment shareholders and transferred 7.08% of its shares to Vanke subsidiaries. On August 5, according to a number of financial media reports, cases related to Evergrande were transferred to the Guangzhou Intermediate people's Court for trial. On August 10, China Evergrande announced that it was in contact with several potential independent third-party investors to discuss the sale of some of its assets, including, but not limited to, the sale of some interests in the company's listed subsidiaries, China Evergrande New Energy Automobile Group Co., Ltd. And Evergrande property Group Co., Ltd. On August 17, according to the National Enterprise Credit Information publicity system (Guangdong), Xu Jiayin no longer served as chairman of Evergrande Real Estate, Ke Peng stepped down as general manager, and the new chairman and general manager were both Zhao Changlong. Xia Haijun, vice chairman of China Evergrande, has sold 3 million Evergrande shares at an average price of HK $14.18 per share.

For the cars and properties to be sold in the August 9 announcement, they are all high-quality assets recognized by the capital market. However, for Evergrande, which is in the field of new energy, the early stage is still in the stage of R & D investment. according to an announcement issued by Evergrande on Aug. 9, it is expected to make a net loss of about 4.8 billion yuan in the first half of the year. the net loss is almost double the net loss of 2.45 billion yuan in the same period last year. It is understood that from 2018 to 2020, Evergrande's annual losses are 1.428 billion yuan, 4.426 billion yuan and 7.74 billion yuan respectively.

At present, Evergrande has released nine models, covering all levels A to D, as well as passenger models such as cars, sedan cars, SUV, MPV, crossover cars, etc., but Evergrande has no reference information on the specific parameters of its products except for the appearance of the models. However, according to Xu Jiayin's previous plan, Evergrande plans to develop into the world's largest and most powerful new energy vehicle group in three to five years. At the semi-annual results meeting of Evergrande Automobile Group in 2020, Liu Yongzhao, president of Evergrande Automobile Group, said that Hengchi products plan to be trial-produced in the first half of 2021, strive for mass production in the second half of 2021, and plan to achieve production and sales of 1 million vehicles by 2025.

There is market news today that China Evergrande Group is negotiating with Xiaomi to sell its stake in the electric vehicle division. So far, neither China Evergrande Group nor Xiaomi Group has responded to the matter. At present, the recent financial crisis of Evergrande Group will also add more uncertainty to Evergrande's future.

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