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As a brand with a long history in China, Haima once cooperated with Japanese Mazda to produce a number of high-sales cars, and then founded the Haima car brand by flying alone. And the former star car brand after nearly two years of consecutive losses, its shares are now put on the "* ST" hat, facing the risk of delisting. In order to take off its hat, Haima has carried out a series of self-rescue activities, but it has not changed its dilemma of lack of money and technology. Where will Haima go in the future?

One can't make bricks without straw

In 2018, Haima's net profit and loss for the whole year was 1.637 billion yuan, while its total profit from 2010 to 2016 was only 1.778 billion yuan, which is equivalent to the total profit of seahorse in the seven-year period from 2010 to 2016. In the three years from 2016 to 2018, the total assets of the hippocampus evaporated from 18.198 billion yuan to 11.458 billion yuan, with an evaporation rate of 37.04%.

The cumulative sales of Haima in the first half of 2019 was 14400, which is only equivalent to the company's monthly sales in 2016. According to its sales data, the Haima Ss, which has the highest sales among the models sold, sold no more than 1,000 vehicles in May, with cumulative sales of 7137 vehicles in the first half of this year, down more than 60% from the same period last year. Such sluggish sales have further worsened the loss of seahorse cars.

In order to make up for the losses, Haima Motors announced that it intends to sell a total of 401 idle properties through bidding and entrusting intermediaries to hang out in the second-hand housing market according to the market price, in order to optimize and invigorate the stock assets. In its announcement on the progress of the sale of some idle real estate issued on July 22nd, seahorse has completed the transfer of ownership procedures for a total of 15 properties at No. 40, Lane 399, South sixth Road, Nanhui District, Pudong New District, Shanghai. 2 properties in Haima Garden, 2-1 Jinniu Road, Longhua District, Haikou City, Hainan Province, and 12 properties in Venture New Village, Jinpan Industrial Development Zone, Haikou City, Hainan Province. Awkwardly, however, although Haima Motors carried out the action of selling houses to save itself, it could not save its declining performance. On July 23, the company's share price fell to 1.89 yuan per share, the lowest since 1997.

Less R & D investment and insufficient product power

For an automobile brand, technology is its core competitiveness. Since it parted ways with Mazda, Haima has invested less and less in technology reserves and product research and development, and there is almost no core technology that can be used. In recent years, its company has spent even less money on research and development, spending only 948 million yuan on product research and development last year and 664 million yuan less in 2017. Compared with Haima, the total R & D investment of Great Wall, which is also an independent brand, is more than 7 billion yuan in the same period, while Geely's total R & D investment in 2018 reached 20 billion yuan. Obviously, in the product research and development and technical level, seahorse has been far away from other domestic independent brands.

In early July this year, Haima released a new SUV-- Haima 8S. Interestingly, at the press conference, Haima Motors put various parameters of Haima 8s and Harvard H6 in a high profile on the screen for comparison. According to the data, all the indicators of Haima 8s are better than Harvard H6. In this regard, many media questioned the comparison results, after all, the Harvard H6 as a domestic classic model, has a good accumulation in word-of-mouth, and from the seahorse research and development investment and product performance in recent years, the comparison of this kind of data is not convincing. However, Jing Zhu, chairman of the company, expressed strong confidence in Haima's new SUV model 8S, saying that Haima 8S will bring sales growth to Haima in the second half of the year.

In the future, as the car market goes down, the competition in the auto industry will become more and more fierce, and for Haima, which is short of money and technology, there is not much time left for it to turn around. In the second half of the year, can seahorse save the situation with its new models, or will it continue to be depressed and become the next Lifan? Let's wait and see.

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