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Another new power car company plans to list on the Hong Kong Stock Exchange! Zhejiang Zero Technology Co., Ltd. submitted its application for listing to the Hong Kong Stock Exchange on March 17, with China International Capital Corporation, Citigroup, JPMorgan Chase and Jianyin International as co-sponsors of the IPO. According to the prospectus, Zero Auto plans to use the funds raised for smart electric vehicle research and development, enhance production capacity, enhance brand awareness and other directions.

In the prospectus, Zero disclosed its revenue for nearly three years. In terms of revenue, the total revenue of zero-running cars from 2019 to 2021 is 117 million yuan, 631 million yuan and 3.132 billion yuan respectively. In terms of specific business, the revenue from the sales of zero-running cars and spare parts is 3.058 billion yuan in 2021, compared with 616 million yuan in 2020 and 117 million yuan in 2019. In addition, the operating losses of Zero Motor vehicles from 2019 to 2021 were 730 million yuan, 869 million yuan and 2.868 billion yuan respectively, and the losses attributable to equity holders for the year were about 901 million yuan, 1.1 billion yuan and 2.846 billion yuan respectively.

Data show that Zero Automobile was established in December 2015, jointly invested by Zhejiang Dahua Technology Co., Ltd. and its main founders. It is a new energy automobile company focusing on the R & D, design, production and sales of new energy vehicles and auto parts and accessories. At present, Zero has Zero S01, Zero T03 and Zero running C11 models on sale. A total of 43748 vehicles were delivered in 2021, including 634 S01, 39149 T03 and 3964 C11.

It is understood that the zero-run S01 is the first production car launched by zero-running cars, and the current price is 11.99-150900 yuan. As the first production car of zero-running car, zero-running S01 does not have a strong sense of existence in the market. Official publicity at the time of launch includes functions such as low-speed follow and lane maintenance, but the actual delivery does not carry related functions, which eventually leads to a lot of complaints and complaints from car owners. As a result, Zero launched the second model, Zero T03, which currently sells for 5.98-99800 yuan. This mini electric car has brought good sales performance to Zero cars, and 90% of sales in 2021 are provided by Zero T03. However, although mini electric vehicles can provide good market performance, their profit margins are particularly low, especially with the current rising prices of raw materials and shortage of chips, more and more car companies have to raise prices for their products. and many consumers value nothing more than price, the taboo of price increase. In this regard, Great Wall Euler in order to avoid angering consumers, while reducing losses, directly announced the suspension of the sale of Euler black cats and Euler white cats, Euler CEO Dong Yudong is even more helpless to sell a loss of 10,000 yuan. In fact, whether it is Euler cars or zero-running cars, the profit margins of mini-electric vehicles are very low, and in the context of skyrocketing prices of raw materials and shortage of parts, automakers' profits are greatly reduced, even losing money instead of making money. Zero run T03, as the highest-selling model under zero-running cars, accounts for 90% of sales, and will also face this situation.

According to the prospectus, Zero will launch a new car called C01 this year and is scheduled to deliver it in the third quarter of this year. It is understood that the new car positioning medium and large sedan, will be built on the same platform as Zero run C11, with 3 seconds zero hundred acceleration, 5 meters long, 700km life. In terms of price, Zero does not disclose the pricing range of Zero C01, but with reference to the pricing style of Zero, the price of this new car should be the most expensive model under Zero, but with reference to Zero 2.0 product layout, the price of Zero C01 is between 15 and 200000 yuan. If the zero run C01 can really be set at less than 200000 yuan, it will still have a great advantage in the domestic new energy vehicle market, because at present, the prices of medium and large cars will not be very low, such as 214800 yuan for BYD EV and 299000 yuan for polar krypton 001. Of course, on the other hand, does this mean that the zero run C01 is selling cars at a loss?

In addition to the known Zero C01, Zero will also launch two cars located between 10-150000 yuan and 25-300000 yuan, with internal codes A01 and D01, respectively. In the SUV market, Zero will have two SUV models in the range of 10-150000 yuan, code-named A11 and A12, and an internal C12 model between 20-250000 yuan, priced slightly higher than Zero C11. In addition, above 25-300000, Zero will launch cars codenamed D01, SUV codenamed D11 and MPV codenamed D21.

According to the current market pattern, zero-running cars belong to the second-tier new power brand. Take 2021 sales as an example, Xiaopeng, NIO and ideal delivered 98155 vehicles, 91429 vehicles and 90491 vehicles respectively, Nahu delivered 69674 vehicles, and zero run delivered 43123 vehicles, ranking fifth on the list. Of course, like most new power brands, zero-running cars that have been established so far have not yet made a profit, and according to the development of zero-running cars, they will not be able to make a profit in a short time, because zero-running T03 is the main source of sales and low profit margins. The sales of zero-running C11 and zero-running S01 models are relatively ordinary, and there are more models waiting for research and development in the future, all of which require a lot of financial support.

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