AutoBeta(AutoBeta.net)11/27 Report--

Evergrande issued an announcement on the evening of November 26th, saying that Evergrande had returned a total of 2.6633 million square meters of unstarted domestic and industrial land, involving seven projects with a total amount of 1.284 billion yuan. The above-mentioned land return money is mainly used for project construction and the payment of migrant workers' wages and the payment of surplus land, and some of the land return money has been confiscated by the government.

The announcement also shows that in order to improve the overall efficiency of the group and supplement working capital, Evergrande has been actively negotiating with potential buyers to sell some of the group's health valley, new energy vehicle life projects and other assets. Evergrande said it was still in contact with potential investors and continued to bring in capital.

Evergrande, which was renamed from Evergrande Health earlier, contains Evergrande's healthy projects and land assets. In January 2019, Evergrande set a goal to become the world's largest new energy vehicle group in three to five years. On July 23, 2020, Evergrande Health officially announced that it had changed its name to Evergrande, and Evergrande has been rising ever since. It is worth noting that in the three months before the name change, Evergrande Health's share price was only 6.14. The day after the announcement to change its name to Evergrande Motor, the share price rose to 29.45, with a market capitalization of about HK $250 billion. On that day, the relevant automotive media made a report predicting that the next trillion giants would come. a few months later, Evergrande maintained a sharp growth, reaching a peak of 72.25 on February 16, 2021. After April, due to the problems of China Evergrande itself, the renaming magic began to fail. Evergrande has rebounded slightly from its lowest point, spurred by a new model that is about to hit the market soon, but even then, Evergrande shares traded at 4.73 yuan in a recent trading. it is still halved compared with the steady period of three months before the name change, with a low of 2.02 Hong Kong dollars.

On August 3, 2020, Evergrande released six new cars in Shanghai and Guangzhou, including two cars, three SUV and one MPV, and is planning a total of 14 new models, which are scheduled to begin production in 2021.

In February this year, in the case that the above-mentioned models have not yet made progress on the ground, Hengchi released three models, Hengchi 7pc8 and 9. At the time, Evergrande didn't seem to worry about slower progress due to too much product front. At present, there is still one month to go before 2022, and the phased target of starting formal mass production in 2021 has not yet emerged. Two months ago, some relevant media visited the Evergrande Automobile Factory in Tianjin Binhai High-tech Zone. The media said that inside the Evergrande Automobile Plant in Tianjin, each workshop is still in the process of construction and progress is different. The equipment is not fully in place, and there is still a certain distance from production. As can be seen from the relevant pictures, the red banner at the door of the office building of the Tianjin factory reads, "after three months of hard work, the first car of Hengchi in Tianjin factory has been off the line." This slogan also appeared on the banner of the site photo of the supplier conference released by Evergrande.

The first car of Hengchi in Tianjin Factory is Hengchi 5. According to the product planning of Evergrande, the price of Hengchi 5 positioning A-class SUV will be less than 200000 yuan. The standard models include BMW X1, Audi Q3, Mercedes-Benz and other luxury entry-level models.

At the Shanghai auto show in May, Evergrande invited some media to test drive and demonstrate a circle around the field, in addition, a small number of interior pictures were released, perhaps because of commercial secrecy. Hengchi No. 5 trial espionage photos were also photographed by netizens in Shenzhen. From June to September, Hengchi began summer testing of more than 5 models including Hengchi in Turpan, Xinjiang, including verifying the reliability and durability of Hengchi's three-electricity system, thermal management strategy, braking performance, battery performance, air conditioning system and internal and external parts, and completing the durability assessment, assembly performance assessment and calibration test of the whole vehicle system.

On November 9, the car appeared in the 350th batch of new product announcement of "Road Motor vehicle Manufacturing Enterprises and products announcement" disclosed on the website of the Ministry of Industry and Information Technology. Evergrande declared its first model, the Hengchi 5LX, which is divided into HDE6470BEVA1F and HDE6470BEVA0F, both of which are pure electric multi-purpose passenger vehicles. Maybe this is the meaning of "working hard for three months, the first car of Hengchi in Tianjin factory goes off the line". In any case, it must be offline within the planned time, even if it is a model.

According to media interviews with a number of Evergrande employees, their department informed that the R & D personnel unrelated to Hengchi 5 and Hengchi 6 cars and most of the production staff from Shanghai and Nansha manufacturing bases in Guangzhou will take part in the holiday from October.

At the beginning of today, Evergrande Automobile Management revealed that Evergrande had invested 47.4 billion yuan in the new energy vehicle industry, which may not be enough. In November alone, Evergrande made two placements one after another. 175 million shares were placed at HK $286 per share on November 9, with the expected total proceeds from the placement of about HK $500 million. On November 19, another 900 million shares were allotted at HK $300 per share, with about HK $2.7 billion raised for the R & D and manufacture of new energy vehicles. Meanwhile, British motor maker Saietta said it would buy e-Traction, an electric transmission company, from Evergrande's subsidiary for 2 million euros, or about 14.62 million yuan, compared with the 500m price Evergrande bought a few years ago.

According to China Business report, since July 1, Xu Jiayin has raised funds by selling personal assets or pledged shares, and has injected more than 7 billion cash into the group to maintain Evergrande's basic operations. According to the latest announcement from China Evergrande on November 25th, Xu Jiayin, Xin Xin (BVI) Limited and Ding Yumei sold 1.2 billion shares of China Evergrande for HK $2.23, totaling about HK $2.676 billion. According to the above statement, Xu Jiayin is also likely to use personal assets to repay China Evergrande's debts.

Two months ago, he said at a special meeting on the resumption of work and production of Evergrande Group that Evergrande had a long way to go to complete the industrial transformation from real estate to new energy vehicles in 10 years.

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