AutoBeta(AutoBeta.net)07/26 Report--

On July 25, WeiMa's official microblog posted a message saying "Ready to go," along with photos of new cars in front of freighters. Officials have not disclosed the specific destination of the vehicle export. However, according to the information on the picture, it is "NYK LINE"(Nippon Yusen Corporation).

In fact, it is not surprising that Weima Automobile exports overseas this time. In recent years, Weimar Automobile has also accelerated the layout of overseas markets. As early as July last year, Weimar EX5 model obtained WVTA EU mass certification certificate, and in July this year, Weimar E.5 model obtained SSTA EU small batch certification certificate. It is understood that WVTA certification mainly involves vehicle safety, performance, environmental protection, collision and other test items, comprehensive high-standard testing of vehicle power system, conventional configuration, electrical unit and other core components. Domestic new energy vehicles must pass the WVTA EU certification before they can enter the European market.

In March this year, Weimar Automobile said that it had obtained orders for thousands of cars in Israel, Dubai, Southeast Asia and other overseas regions. In addition, WeiMa senior management also disclosed,"WeiMa automobile into overseas market pace is accelerating, July, WeiMa automobile will Israel and United Arab Emirates export orders will take the lead in mass production."

It is worth noting that WeiMa Automobile, as one of the earliest new forces in China, has a high starting point. In addition to possessing the qualification of vehicle production, it also built its own factory, which was once in the first echelon of new forces of vehicle building. In September 2018, Weima launched its first model EX5, while most of the other new domestic car-building forces remained at the PPT car-building stage at that time. Subsequently, WeiMa Automobile successively launched EX6, W6 and E5 models, and its models cover almost all price models of 150,000 - 300,000, but unfortunately, the sales of these models are not ideal.

Poor sales volume is even more tight. According to relevant data, from 2019 to 2021, Weima Automobile realized revenues of 1.7621 billion yuan, 2.6717 billion yuan and 4.7425 billion yuan respectively, net losses of 4.145 billion yuan, 5.084 billion yuan and 8.206 billion yuan respectively, and accumulated losses of 17.435 billion yuan in three years. By the end of 2021, the asset-liability ratio of Weima Automobile is as high as 202.36%, which is already in a serious state of insolvency. As of March 31,2022, the remaining cash and cash equivalents on the book of Weima Automobile amounted to RMB 3.678 billion yuan. Due to insufficient funds and increased losses, Weimar Automobile has been shut down since the second half of 2022. At the beginning of this year, WeiMa retail end was once again reported that a large number of direct-sale exhibition halls closed down, most dealers chose to withdraw from the network to withdraw stores and other news.

In order to alleviate the shortage of funds, in January this year, WeiMa Automobile launched the reverse backdoor APOLLO travel curve listing plan, hoping to raise funds through backdoor listing. However, the plan may not have been very successful. Weima is still in a financial crisis. On February 28, Shanghai Qingpu District Consumer Protection Committee issued a document saying that a number of consumers complained that WeiMa had abnormal business operation, closed stores, vehicle failure could not be repaired in time, unable to provide auto parts and official customer service could not be connected, reminding consumers to buy WeiMa cars carefully.

Although, Weima cars keep getting all kinds of bad news. However, Shen Hui, CEO of Weima Automobile, released good news to the outside world: Weima can continue to fight as long as there is still a breath. The biggest challenge now is how to survive the pre-dawn darkness. Everything is going well! The official of WeiMa Automobile also said: "WeiMa Automobile is fully carrying out user service under the leadership of Shen Hui, paying off debts in an orderly manner according to law and actively promoting the plan of new energy vehicles going to sea. It is expected to resume production in the near future and resume normal operation."

This time, Weimar Automobile exports overseas market or a new direction for Weimar Automobile. With the rapid development of new energy vehicles, the export volume of new energy vehicles also continues to grow. Relevant data show that in the first half of this year, the export volume of domestic new energy vehicles was 534,000, an increase of 1.6 times compared with the same period last year. The head of import and export of Weima once said: "Weima has opened the door to the European market, and the overseas business of Weima in the future will be an important pillar of Weima Group's business." Of course, WeiMa automobile exports overseas market at this time can not only increase its sales volume, but also seize overseas market. But back to business, if WeiMa car can not solve the domestic problem, will still face the survival crisis.

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