AutoBeta(AutoBeta.net)10/30 Report--

On October 29, Hengchi officially announced that the Hengchi 5 was officially delivered, with the first batch of 100 units. It is understood that Hengchi has laid out the first batch of delivery service centers in 19 cities, including Beijing, Tianjin, Shanghai, Guangzhou, Shenzhen, Zhengzhou, Chengdu, Chongqing and Haikou. Subsequent batches of vehicles will be delivered to car owners one after another.

Hengchi 5 is the first mass production car under Evergrande, and it is difficult to achieve mass production and appear on the market in the face of vocal doubts. From the perspective of the timeline, Hengchi 5 officially launched on August 10, launching only one model with a price of 179000 yuan. On September 16, Hengchi 5 went off the line at the Tianjin factory. October 29, Hengchi 5 opened delivery, the first batch of 100 units.

Liu Yongzhao, president of Hengchi New Energy Automobile Group, said, "the big sale of Hengchi has become a foregone conclusion, and Hengchi 5 is the best pure electric SUV within 300000." Liu Yongzhao said that Hengchi 5 uses parts from top manufacturers in the supply chain, including Bosch, mainland, Amboft, Ningde era and many other well-known supply chain enterprises have participated in the production process of Hengchi 5.

However, there may be some moisture in Hengchi 5 over 37000 units orders. Evergrande property once held an internal meeting in July and issued Hengchi 5 sales assessment tasks, which were subdivided from each major region to each project. Specific sales assessment indicators will be determined according to the number of owners in the community. At present, consumers are still skeptical about Hengchi. As for how many Hengchi 5 units have been sold, how much the terminal market accounts for, and how many Evergrande owners account for, I am afraid only Hengchi knows inside!

As the Evergrande Group is facing financial pressure, the market has always questioned Evergrande's sustainable operating ability. Not long ago, there were rumors that Evergrande might be acquired by another car company, and the Tianjin plant would be shut down. In this regard, Hengchi President Liu Yongzhao responded to the media that the company has been actively introducing strategic investors, so far, both local governments and a number of powerful companies have expressed investment intention to Hengchi, there is no such thing as mergers and acquisitions. Fortunately, Hengchi 5 smooth mass production delivery, more or less laid a vaccination for the market.

In fact, consumers' biggest worry about Hengchi 5 is whether it is a "bad end". Evergrande knows this very well. In order to allay the concerns of consumers, Hengchi pioneered the method of "notarized car purchase", in which the full payment was paid when the car was delivered, and the car could be refunded within 15 days after picking up the car, and the money had to go through a special account of the notary office. In addition, Hengchi has also launched ten major rights and interests concessions, including a deposit of 10000 yuan to 20000 yuan, a 40% discount and repurchase within three years, a lifetime warranty for the whole vehicle, and a lifetime warranty for three power companies.

According to the plan, Hengchi will deliver 10,000 Hengchi 5s by the end of the year and speed up the R & D and production of other models. In addition, Hengchi 6 will be offline at the end of this year and mass production in the first half of next year; Hengchi 7 will be offline in the first half of next year and mass production in the second half of next year, while speeding up the R & D progress of Hengchi 1 and Hengchi 3.

However, the domestic new energy vehicle market is becoming more and more crowded, especially dozens of new models will be launched in the second half of the year. Industry insiders said that the mainstream market in the range of 10-200000 yuan is the most competitive, with monthly sales reaching 10, 000 vehicles to gain a foothold, while the vitality of car companies still need to observe the performance of second-or even third-generation models. Therefore, Evergrande still has a long way to go.

In March 2021, Evergrande said at its 2020 performance conference that the company had invested 47.4 billion yuan in the new energy vehicle industry, including 24.9 billion yuan in vehicle R & D and design, and 22.5 billion yuan in the construction of a car plant. if you include the sales and administrative expenses in the first half of 2021, Evergrande has "burned" more than 50 billion yuan in the new energy vehicle business. According to the semi-annual report, Evergrande posted a net loss of 4.821 billion yuan in the first half of 2021, up 96.25% from 2.456 billion yuan in the same period last year.

So far, China's Evergrande and Evergrande cars have been suspended because they failed to release their financial results on time. According to the relevant rules, HKEx ownership delisting of any listed company that has been suspended for 18 consecutive months, in the case of Evergrande, the 18-month period will expire on September 20, 2023. If the matters leading to the suspension and the requirements of the resumption guidelines are not corrected, and share trading resumes before September 20, 2023, HKEx will recommend that the listing Committee start the process of delisting Evergrande's listing status.

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