AutoBeta(AutoBeta.net)04/30 Report--

On April 30, Hengchi Automobile issued a recruitment order on its Weixin Official Accounts to recruit authorized agents in 18 cities across the country. Information shows that Hengchi plans to implement order-based sales, light asset operation, small and refined exhibition hall, located in automobile business circle, unified retail price, ensure sales profit sales mode; sales center exhibition hall area of 200-300 square meters, will be recruited in Beijing, Shanghai, Guangzhou, Shenzhen and other 18 cities.

In addition, the agent qualification requirements: 1, agree with Hengchi automobile business philosophy and sales model, full of confidence in "Hengchi automobile business, willing to invest in long-term common development;2, registered by the state administration for industry and commerce, with independent legal person qualification and legal business certificate, registered capital of not less than 5 million yuan;3, have the site requirements for meeting the business needs of Hengchi automobile;4, able to set up qualified management team for Hengchi automobile; 5. The enterprise is in good operating condition and has sufficient financial strength;

From the perspective of development history, Evergrande Group acquired 51% equity of Swedish electric vehicle company NEVS for USD 930 million on January 15,2019, and obtained vehicle production qualification. On August 28,2019, Evergrande Group released Hengchi New Energy Vehicle. On August 3,2020, Hengchi Automobile released six models in the first phase, covering A-D class models, covering all series of models such as cars, SUV, coupe, MPV and crossover vehicles. On November 11,2020, Evergrande officially announced the naming system of Hengchi series. Each Hengchi will be named according to the listing order, grade and model. The specific name consists of "Hengchi + number + two English letters". On February 10,2021, Hengchi Automobile released three models of Hengchi 7, Hengchi 8 and Hengchi 9. With the release of three brand-new models, the product camp of Hengchi Automobile has been expanded to 9 models. On April 19,2021, Hengchi brand appeared at Shanghai International Auto Show. On December 30,2021, the first car of Hengchi 5 was rolled off the line. On March 11,2022, Hengchi 5 entered the new car announcement of Ministry of Industry and Information Technology.

It is understood that Hengchi 5 positioning compact pure electric SUV, standard Mercedes-Benz GLA, Audi A3, BMW X1 and other entry-level luxury cars. According to the application drawing of the Ministry of Industry and Information Technology and the real car in the exhibition hall, Hengchi 5 adopts closed front face design, LED headlights on both sides adopt tearful eye design similar to Cadillac, but the headlight shape is also characteristic, the heat dissipation opening shape on both sides of the front surround is still sharp, the side skirt of the body also has red decorative strip, and the rim adopts bright black coating. In terms of size, the length, width and height size of Hengchi 5 are 4725/1925/1688mm respectively, and the wheelbase is 2780 mm. In terms of interior decoration, the center console of Hengchi 5 adopts the design of continuous screen, which is divided into three screens, including 10.25-inch instrument display screen, 14.6-inch central control touch screen and 10.25-inch co-driver screen. In addition, in the new car center control armrest position also equipped with a number of buttons, three-spoke multi-function steering wheel also equipped with constant Chi LOGO. According to Hengchi Automobile Plan, Hengchi 5 mass production will be realized on June 22, laying a solid foundation for the healthy and sustainable development of Evergrande Automobile.

On April 22, Evergrande Automobile established Hengchi Guorui New Energy Automobile Sales (Beijing) Co., Ltd.(hereinafter referred to as Hengchi Guorui) in Beijing. According to Sky Eye Inspection, Hengchi Guorui is 100% owned by Hengchi New Energy Automobile Sales Co., Ltd., which was established on April 20 with a registered capital of 100 million yuan. The business scope of the company includes the whole vehicle sales of new energy vehicles; second-hand car distribution; second-hand car appraisal and evaluation; electric vehicle charging infrastructure operation; information system integration services; technical services, technology development, technology promotion, and online taxi booking services, etc.

It is worth mentioning that Hengchi New Energy Automobile Sales Co., Ltd. has been recruiting since the beginning of this year. According to the recruitment poster, Evergrande's automobile sales consultants cover Beijing, Shanghai, Guangzhou, Tianjin, Shenzhen, Zhengzhou, Hangzhou, Chengdu, Chongqing, Wuhan, Nanjing, Changsha, Xi'an, Hefei and Haikou, totaling 15 cities. According to the plan, Hengchi brand will build 36 Hengchi exhibition experience centers, 1600 Hengchi sales centers and 3000 self-built and authorized warranty after-sales service centers.

In October 2021, Xu Jiayin, Chairman of the Board of Directors of Evergrande Group, said that the company would complete the industrial transformation from real estate to new energy vehicles within 10 years. According to Evergrande's automobile development schedule planned by Xu Jiayin, by 2025, the company's automobile production and sales target shall exceed 1 million vehicles; by 2035, the company's automobile production and sales target shall exceed 5 million vehicles.

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