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According to media reports, Hengchi 5 will start pre-sale on July 6. Customers who are interested can make an appointment to register in advance. Only those who make an appointment in advance can experience the test drive first, which will take about a week or so. It is worth mentioning that, according to the staff of Guangzhou Hengchi Exhibition and experience Center, Hengchi 5's pre-sale plan is divided into internal and external parts. It begins with internal pre-sale on July 6 and external pre-sale only on July 9.

According to a pre-sale information provided by the staff, the pre-sale price of Hengchi 5 has not yet been fully determined. it is estimated that the first batch of pre-sale production will be about 200000 units. After the pre-sale starts, it has to be handed over to "Xiao Ding" to seize rights and interests. The time is from July 6 to July 31, the small fixed amount is 1000 yuan, and the large fixed amount is 10, 000 yuan from August 1 to August 31. In addition, the delivery time of the first batch of Hengchi 5 is expected to be from October 1, 2022 to March 31, 2023.

Hengchi 5 is the first production car of Hengchi, which has appeared in the list of "Road Motor vehicle production Enterprises and products announcement" (batch 353) announced by the Ministry of Industry and Information Technology, which means that Hengchi 5 has passed the one-month publicity period of the Ministry of Industry and Information Technology and is qualified to sell new cars. According to the current available information, the pre-sale time of Hengchi 5 is relatively clear, with pre-sale in July, mass production in September and delivery in October.

According to the auto industry concerned about the previous report, Hengchi 5 positioning compact pure electric SUV, on the standard Audi Q3, BMW X1 and other entry-level luxury cars. According to the comprehensive declaration map of the Ministry of Industry and Information Technology and the real car in the exhibition hall, Hengchi 5 uses a closed front face design, and the LED headlights on both sides use a tear-eye design similar to that of Cadillac, but the shape of the headlamp is also quite characteristic, the shape of the heat dissipation opening on both sides is still sharp, the side skirt on the side of the car body also has red decoration strips, and the rims are painted in bright black. In terms of size, Hengchi 5's length, width and height dimensions are 4725/1925/1688mm and wheelbase 2780mm respectively. In terms of interior decoration, the center console of Hengchi 5 uses a connected screen design, which is divided into three screens, including a 10.25-inch instrument display screen, a 14.6-inch central touch screen and a 10.25-inch co-driver screen. In addition, the position of the control handrail in the new car is also equipped with multiple buttons, and the three-spoke multi-function steering wheel is also equipped with Hengchi LOGO.

Evergrande car-building, Xu Jiayin can be called a "RMB player", "there is no shortage of money" incisively and vividly. Xu Jiayin summed up Evergrande's car-building philosophy in 15 words: buy, cooperate, circle, big, good. In other words, problems that can be solved with money are not a problem in Xu Jiayin's view. In December 2019, at the signing ceremony of Evergrande Automotive Global Strategic Cooperation, Xu Jiayin called in 206automobile industry leaders and more than 1100 executives of the automobile industry chain. When the dozens of meters long cooperation document table was moved onto the stage, the real estate industry and the auto circle were shocked.

In August 2020, Evergrande ushered in a historic moment, with six cars: Hengchi 1, Hengchi 2, Hengchi 3, Hengchi 4, Hengchi 5 and Hengchi 6, covering A to D classes, as well as passenger cars such as cars, sedan cars, SUV, MPV and crossover cars. The first model will be put into production and launch next year. Evergrande President Liu Yongzhao said at the meeting that Hengchi will start trial production in the first half of next year, mass production will be achieved in the second half of the year, and is confident that Hengchi will quickly seize the market after listing.

At that time, Evergrande was in high spirits and Xu Jiayin was full of confidence. According to Xu Jiayin, Evergrande has invested 45 billion yuan in three years, with a sales target of 1 million vehicles in 2025 and 5 million vehicles in 2035, making it the largest and most powerful new energy vehicle group in the world.

The ideal is very full, the reality is very bony, with the Evergrande Group debt crisis, Evergrande not only failed to complete the mass production plan on schedule, and even the new energy vehicle business can be sold. On August 10, 2021, China Evergrande announced that "the company is 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 part of the interests of the company's listed subsidiaries, China Evergrande New Energy Automobile Group Co., Ltd. And Evergrande property Group Co., Ltd. "

Of course, there is still no news about whether the automobile business will be sold, and in the context of Evergrande's deep debt crisis, it continues to seek more possibilities for the mass production of Evergrande cars through the sale of its assets, and even "guarantee cars and abandon houses". We have formulated an industrial plan to "realize the industrial transformation from real estate to new energy vehicles in the next 10 years, and form new energy vehicles as the main industry and real estate as the auxiliary." In other words, Evergrande's transformation from real estate to new energy vehicles is a helpless move, because the success and failure of Evergrande is the key to Evergrande's turnaround. Only Evergrande's success can save Evergrande from fire and water. Now, Evergrande's biggest goal is to ensure the mass production of Hengchi 5.

On March 22, Evergrande New Energy Automobile Group held a mobilization meeting entitled "working hard for three months to achieve Hengchi 5 production". Xu Jiayin, chairman of the board of directors of Evergrande, said at the meeting: "the Automobile Group must work hard day and night, work hard for three months, and must achieve Hengchi 5 production on June 22, so as to lay a solid foundation for the healthy and sustainable development of Evergrande." On May 18, Hengchi's official Wechat official account issued a "statement": affected by the epidemic, the original mass production time of Hengchi 5 was adjusted to September 20, 2022, and the pre-sale work is in progress.

With the "big dry March and March", Evergrande car "Savior" time is running out. Evergrande's highest share price soared to HK $72.4 in 2021, surpassing BYD as the country's largest carmaker by market capitalization. Now it has fallen to HK $3.2 and has been suspended for three months. At present, the biggest problem hindering the resumption of Evergrande's license is that Evergrande's financial performance and audit cannot be completed, and the continuous suspension may trigger the accelerated repayment of convertible bonds, thus aggravating the liquidity pressure on the enterprise. and financial pressure will further affect the progress of car construction.

As the first production car of Evergrande, Hengchi 5 plays the role of "savior". At present, Evergrande is making great efforts to ensure mass production of new cars, but there is more pressure after mass production. As a luxurious cross-border car brand, Hengchi Automobile in order to match its market positioning means that channel construction and marketing expenses are also a lot of expenditure. If Hengchi 5 wants to achieve mass production, it must invest a lot of money. What the whole Evergrande department lacks most is funds. What's more difficult is that if the car can't be built all the time, it will further aggravate the financial crisis.

Evergrande is regarded as the "savior" of China's Evergrande, and whether Hengchi 5 can be recognized by the market is crucial. One is that Hengchi 5 has no brand advantage, and the delay in delivery of some properties after the Evergrande debt crisis has affected its reputation; the other is that the strength of Hengchi 5's products is not bright enough, from battery life, body size to shape design can only be counted as OK, but in the face of other mature products, there is no strong competitiveness. Generally speaking, the sales and reputation of Hengchi 5 affect the future of Evergrande Group as well as the future of other models. A more far-reaching impact is whether Evergrande can have the function of hematopoiesis and relieve Evergrande's debt pressure.

According to the announcement on the website of the Hong Kong Judiciary, Top Shine Global Limited of Intershore Consult (Samoa) Limited has filed a winding-up petition with China Evergrande Group in the High Court of Hong Kong, case No. HCCW 220 Universe 2022. The hearing time is scheduled for August 31, 2022 at 9:30

On the evening of June 27, China Evergrande issued a notice saying that "strongly opposing the winding-up petition will not affect the restructuring plan." China Evergrande said in the announcement that "Top Shine Global Limited of Intershore Consult (Samoa) Limited (petitioner) filed a winding-up petition against China Evergrande in the High Court of the Hong Kong Special Administrative region on June 24, 2022, involving a financial obligation of HK $862.5 million". Evergrande further said that "China Evergrande will strongly oppose the petition and expects that the petition will not affect China Evergrande's restructuring plan or timetable; China Evergrande has been actively communicating with creditors to promote overseas debt restructuring. The preliminary plan for overseas debt restructuring is expected to be announced by the end of July." However, Evergrande also reminded: "if China Evergrande is eventually wound up as a result of the petition, the transfer of shares made on or after the commencement date will be null and void without an order recognized by the High Court".

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