AutoBeta(AutoBeta.net)11/15 Report--

On November 14th, Nashi Automobile is pushing forward a major strategic adjustment, according to the Financial Associated Press. According to the report, Naha Automobile has greatly compressed and integrated the first and second-tier departments and optimized the management level. after this round of adjustment, the human efficiency will be increased by 40%, the organizational operating efficiency will be increased by 50%, and the related operating expenses will be greatly reduced by more than 50%.

Recently, the life of Nahu car is not peaceful. On October 29th, it was revealed that Naha Automobile had implemented a salary reduction plan for all R & D staff, with a reduction of 5% and 30%, of which employees with an annual salary of more than 1 million yuan had their salaries reduced by 30%. Then Nahu Automobile responded: "the company is building a more centralized and efficient organizational structure through measures such as streamlining the business, focusing on the core, organizational optimization and compensation performance reform." sub-departments are integrated according to business requirements and future development needs to promote intensive investment of resources and further enhance the competitiveness and operational efficiency of enterprises. " In November, it was also reported that many employees began to post for salaries and set up "rights protection groups".

As one of the new car-building forces, Naha Automobile was founded in 2014 and has achieved the top-selling record of the new car-building forces in China. In 2022, Najia became a dark horse of the new car-building force with annual sales of 152100, but by 2023 its sales fell 16% year-on-year to 127500, only half of its annual sales target of 250000.

Today, the performance of Nahu car in the car market has obviously widened the gap with ideal cars, Xiaopeng cars, Ulay cars, zero-running cars and other car companies, especially after entering 2024, with the extreme inward roll of the price war in the car circle and the siege of more domestic new energy brands, the life of Nahu cars is getting more and more difficult, and sales are in the doldrums.

Retail data show that in the first 10 months of this year, Najia accumulated sales of 62686 vehicles, of which October fell 40.32% year-on-year to 6002. Among the subdivided models, in the first 10 months of this year, Nathan had the highest car sales, with 24843 vehicles, followed by Nezha X with 20010 vehicles, Nezha S with 10041 vehicles, while Nathan AYA and Naga GT sold only 6613 and 1305 vehicles, respectively.

According to the plan, the global sales target of Nashi this year is 300000, of which 200000 are domestic and 100000 overseas. In terms of products, Nashi CEO Zhang Yong has pointed out that this year will bring at least four global models to more countries and regions, achieve simultaneous sales of eight products at home and abroad in 2025, and advance to the overseas sales target of 100000 vehicles in the coming year.

According to the above report, Naha Automobile said it strives to achieve positive operating cash flow in February 2025. According to the prospectus, from 2021 to 2023, the net losses of Naha were 4.84 billion yuan, 6.67 billion yuan and 6.87 billion yuan respectively, with a cumulative net loss of 18.38 billion yuan in three years. By the end of 2023, Naga's cash equivalents were 2.837 billion yuan.

In addition, the relevant reports also pointed out that Nashi Automobile is devoting more resources to overseas markets. Naha Automobile and Nanning Industrial Investment Group have reached strategic cooperation and will provide supply chain financial support to help Naha Automobile comprehensively coordinate and organize the business of raw material procurement, production, logistics and KD parts export in Nanning base. to assist in the delivery of overseas car models.

Prior to this, on November 12, Nathan announced that it had signed a general agency agreement with Saavedra Group, the largest car sales group in Bolivia, and the two sides announced that they would promote the channel construction and vehicle sales of Nathan cars in Bolivia.

As one of the new forces in car building, Nahu is facing multiple pressures and challenges such as declining sales and IPO. It is worth looking forward to whether Naha can achieve positive operating cash flow in February 2025.

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