AutoBeta(AutoBeta.net)08/26 Report--

Yesterday (25th) afternoon, the official website of the China Securities Regulatory Commission issued a notice for the record of overseas listing of ZEEKR Intelligent Technology Holding Limited. According to the notice, Geely's high-end electric car brand extreme Krypton will be listed on the New York Stock Exchange. Polar Krypton plans to issue no more than 926 million common shares on the New York Stock Exchange, raising $1 billion and valuing it at close to $13 billion.

The day before, there was news that Polar Krypton might contact investors around the world at the end of August to determine investors' interest in the largest financing after Didi's $4.4 billion IPO. Polar Krypton did not have any comment on the news at the time, and then, Geely's forehead, Geely Holdings Group President, extreme Krypton Intelligent Technology CEO an Conghui responded to media inquiries in the mid-term results of 2013. An Conghui said at the earnings conference on August 22 that "we will continue to closely follow the dynamics of the capital market and choose the right window for listing," which is obviously coming much faster than most people think.

Polar Krypton is Geely's intelligent high-end pure electric car brand, internally known as Geely's Audi. After the release on April 15, 2021, a total of polar krypton 001, polar krypton 009, polar krypton X3 models are on sale. Among them, the first model ZEEKR 001is based on Lecker ZERO Concept and is positioned as a medium-sized sedan. The previous price was 30.00-403000 yuan. On the 11th of this month, Polar Krypton greatly adjusted this price, and the price of different models decreased by 3-36000 yuan. In November 2022, ZEEKR 009 was launched, the new car is based on Geely SEA vast structure, positioning medium-and large-scale MPV, the price is 49.9-588000 yuan. In April this year, the polar krypton X was launched, and the new car was positioned as a compact pure electric SUV, launching a total of three models with a price of 18.98-209800 yuan.

In the interim annual report, polar krypton CEO an Conghui announced that polar krypton 001,009 and polar krypton X are expected to deliver more than 70, 000, 30, 000 and 40, 000 vehicles respectively this year, ensuring the delivery target of 140000 vehicles for the whole year and achieving the 650000 sales target by 2025. The latest July delivery data show that polar krypton delivered a total of 12039 new cars, an increase of 13.4% month-on-month. In the first seven months of this year, a total of 54700 polar krypton cars were delivered. In the first half of this year, polar krypton achieved 39.05% of its annual sales target of 140000 vehicles. In terms of revenue, Geely recorded a net profit of 1.571 billion yuan in the first half of the year, a loss of 2 billion in 2022 and a loss of 809 million in the first half of 2023, a slight increase of 50 million yuan over the same period last year.

In December last year, there were media reports that Geely secretly submitted a listing application for IPO on the New York Stock Exchange, and this pace will be greatly accelerated after yesterday's filing notice from the Securities Regulatory Commission. Obviously, some recent public opinion trends have provided a good social support for the opening of this window. On the one hand, the relevant policy wind is promoting the opening of capital markets, emphasizing that people can make money from stocks and funds. Hu Xijin, former editor of the Global Times, has publicly posted his stock market account opening news and earnings on Weibo. At the same time, we are constantly emphasizing the necessity of continuing to open up to foreign investment and showing a welcoming attitude towards foreign investment. At this time, the CSRC issued a notice for the filing of the listing of extreme krypton in the United States, which is undoubtedly a very strong positive signal in the improvement of current economic relations.

On the other hand, the capital market has recently shown great interest in car stocks. Generally speaking, the threshold for the listing of companies on the New York Stock Exchange is relatively loose, so some start-up large-scale enterprises choose to use this way to obtain the injection of social capital after the model is mature, in order to promote the rapid development of enterprises. As the capital market matures, especially industries that require high capital investment, such as car manufacturing, industries with large capital revenue and output are more suitable. Some early mature car companies, with the continuous segmentation of the automobile market, will also subdivide their brands according to the demand, and produce an independent sub-brand with the advantage of existing production and sales resources. Extreme krypton, Ian, Lantu and so on have all chosen the way of subdivided brand building and independent listing, which is obviously a little easier than the new car building force from scratch.

The same is true of the three new power car companies that attract more public attention, such as Ultimate, ideal, and Xiaopeng Motor. NIO first listed on the New York Stock Exchange in 2018, and ideal Xiaopeng followed this fast lane in 2020. After the trade conflict, we made the choice of listing at the same time in Hong Kong to deal with potential risks and expand financing channels. Their performance paths after listing in the capital market are roughly similar, the listing peak entered a two-year trough in response to changes in the environment, and with the improvement of the market and the accumulation of sales data, investors began to re-evaluate their value. and become a tonic when the mainstream market is in the doldrums.

It is worth mentioning that on the 17th of this month, the new Vietnamese power VinFast broke through the people's imagination of sudden wealth. In just a few days, the market capitalization surpassed that of Ford, GM, Mercedes-Benz and BYD. Become the third largest car company in the world after Tesla and Toyota. By yesterday's close, its share price had reached US $68.77, with a total market capitalization of 159.7 billion. VinFast, which is only five years old, sold 7400 vehicles last year and delivered only 11143 vehicles in the first half of this year. In this recent auto industry drama, VinFast sales are all younger brother roles in terms of China's new sales force, and a pullback after the boom is inevitable.

As a result, the IPO of Polar Krypton may only be one foot short of the launch, and the strength of this kick can already be seen from the performance of VinFast over the past nine days that another carnival is about to unfold. After all, the sales of Polar Krypton cars are far more convincing.

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