AutoBeta(AutoBeta.net)11/25 Report--

On November 25th, Naha Automobile responded to the incident that 1 billion of the stake in Nezha New Energy Automobile Manufacturing Company was frozen, saying it was a misreading.

It is understood that on November 19, the parent company Hezhong New Energy Automobile Co., Ltd. added an equity freeze information. The enterprise whose equity was executed was Nezhong New Energy Automobile Manufacturing Co., Ltd. the frozen amount was 1 billion yuan. the freeze period is from November 19, 2024 to November 18, 2027, and the enforcement court is the Tongxiang Municipal people's Court. At present, this information has been withdrawn.

In response to this incident, the Financial Associated Press reported that Naha Automobile said that the property preservation ruling made by the Tongxiang people's Court on the contract dispute between the company and Somek Auto parts Co., Ltd., caused misreading in the industry. Now, with the application of Hezhong New Energy Automobile Co., Ltd., Tongxiang people's Court has lifted the property preservation measures for the 100% equity of Nezhong New Energy Automobile Manufacturing Co., Ltd.

Hezhong New Energy Automobile Co., Ltd., formerly known as Hezhong New Energy Automobile Co., Ltd., was established in October 2014. the legal representative is Ark, with a registered capital of 2.837 billion yuan, according to Tianyan check information. It is worth mentioning that, on November 21, Hezhong New Energy Automobile Co., Ltd. added three pieces of equity freeze information. The enterprises whose shares are executed are Tongxiang Hezhong Automobile sales Co., Ltd., Nezhong New Energy Automobile Manufacturing Co., Ltd., and Tongxiang Hezhong Automobile sales Co., Ltd., the frozen amount is 10 million RMB, 50 million RMB and 10 million RMB respectively, and the total amount of equity freeze is 70 million yuan. The enforcement courts are all Tongxiang Municipal people's Court.

As a new power car company that once attracted much attention, the days of Nahan Automobile are not good. It has not only been revealed that it has implemented a salary reduction plan for all R & D personnel, ranging from 5% to 30%, but also faced with many employees posting for salaries and setting up "rights protection groups". Although Nahu Automobile has also stated that it is building a more centralized and efficient organizational structure through measures such as streamlining business, focusing on the core, organizational optimization and salary performance reform, it is undeniable that the performance of Nahu Automobile in the auto market has obviously opened the gap with ideal cars, Xiaopeng cars, Xilai cars, zero-running cars and other car companies.

After entering 2024, with the extremely introverted 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 began to fall into 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. At present, there is an urgent need to increase sales and narrow the gap with other new car companies. According to the plan, the global sales target of Nashi this year is 300000, of which 200000 are domestic and 100000 overseas.

In October last year, when talking about the progress of the company's IPO, Zhang Yong, CEO of Naha Automobile, revealed that he had more than 10 billion yuan in the car account and was in no hurry to IPO, so he had enough money to come step by step. 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, its cash equivalent was 2.837 billion yuan. The industry believes that such cash will not be able to support nearly a year of losses under the 2023 loss law. However, Naha Automobile said it aims to achieve positive operating cash flow by February 2025.

At present, Nashi car is accelerating the development of overseas market. As the first new power to enter Malaysia, it has delivered the first batch of government procurement vehicles to the government of the Malaysian state of Semelan, and is expected to open more than 10 stores in Brazil by the first quarter of 2025, the company said in a Weibo post today.

As for the decline in sales, IPO and other pressures and challenges, it will take more time to tell whether the car can return to the highlight of the moment, but time is tight for the car. As the competition among the new power car companies intensifies and the price war becomes more and more inward, the time window left for Nezha cars will only become smaller and smaller.

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