AutoBeta(AutoBeta.net)08/27 Report--

Evergrande Health Group reported its one-year foray into the field of new energy vehicles on August 23. According to the announcement, the consumption of its members in the first half of the year was 3.967 billion, an increase of 124.9% over the same period last year, an increase of 2.648 billion in operating income, an increase of 132.1% over the same period last year, and a gross profit of 611 million, an increase of 10.9%. However, in terms of net profit, Evergrande lost 1.984 billion yuan in the first half, compared with a profit of 200 million yuan in the same period last year.

It can be seen that Evergrande health industry revenue doubled, the layout of new energy vehicle business early mergers and acquisitions and R & D investment to create new growth led to temporary losses.

As for the loss in the first half of the year, Evergrande Health said it was mainly due to a substantial increase in M & A spending and R & D investment in the new energy vehicle business. The automobile invested 14.07 billion yuan in the first half of 2019, the specific details are the purchase of equity, including NEVS, Koenigsegg, etc., which cost 870 million, as well as the land expenditure of the major automobile bases, and so on. It is estimated that the total investment of the group in the second half of the year will be 6 billion, so the annual group investment should be at the level of 20 billion.

Evergrande has made frequent moves since April this year, successively investing in Tianjin, Guangzhou, Zhengzhou and Nantong, with a total amount of about 2.1 billion yuan. At the same time, Evergrande has also laid out a series of new energy vehicle industry.

But since Evergrande started building cars, doubts about it have never stopped. The main criticism is that Evergrande encloses land in the name of building cars. Indeed, with the investment of new energy automobile industry, Evergrande has taken a lot of land, and has taken a lot of residential and commercial land, which is undoubtedly very conducive to the development of its real estate development business.

For real estate development enterprises, land is the most important asset. A well-known real estate analyst said that although real estate developers can obtain land through normal bidding, the cost is very high and the competition is fierce. However, "with the introduction of industry, we can get better opportunities to get land."

The land acquired by Evergrande where it has invested in the new energy automobile industry is basically sold at rock bottom prices, including good plots. Take Guangzhou, the headquarters of Evergrande, as an example. On the basis of Evergrande's car factory in Nansha, Shentao Life Service Company has won the Nansha Wanqingsha 2019NJY-10 and 2019NJY-11 plots at the rock bottom price, with a total construction area of 642000 square meters, equivalent to the "9 prefix" of the floor price. According to the assessment, the floor price of the two plots of land should be more than 13000 per square meter.

Moreover, the transportation supporting prospects of these two plots are promising. In the future, subway lines 18 and 22 can be connected by bus (expected to be opened by the end of 2020), and important business districts such as Panyu Square, Changlong Wanbo, Pazhou and Pearl River New Town can be reached within 1-1.5 hours. The demand for housing in this area will also be greater in the future.

Since Evergrande made cars, it has many holding and shareholding subsidiaries of new energy vehicles. But the difference is that Evergrande's car business has subsidiaries that specialize in real estate development. For example, the three local subsidiaries of Anhui, Guangdong and Guizhou all have subsidiaries with the word "life service", and these subsidiaries all have the content of real estate development and management in their business scope. In addition, Evergrande New Energy Technology (Liaoning) Company's five companies have real estate development business. According to the calculation, Evergrande Automobile Business Section has at least 37 subsidiaries that can carry out real estate development and operation.

For Xu Jiayin and Evergrande, it seems difficult to strive for 3-5 years to become one of the largest and most powerful new energy vehicle groups in the world.

On June 29, Guoneng New Energy, a subsidiary of Evergrande New Energy Automobile Group, released its first offline real car, the Guoneng 93. But this is also a model whose background has been completely dug up. Therefore, compared with Evergrande's real new energy vehicle industry chain, Guoneng 93 is obviously a product that is not on the table. And these patchwork technologies do not represent the strength of Evergrande, and the land accumulated in the powerful Jinyuan offensive cannot be exchanged for the skills of building cars. The money was thrown out like water.

After the real estate enterprises entered the automobile industry, whether it is Evergrande, which is still throwing money, or Baoneng, which has been "cooled" half before, and the happy people of China, there is no exception in accordance with the pace of real estate "fast money into fast money harvest". But for now, Evergrande's enclosure has changed nothing but helping Mr. Xu Jiayin into money.

For the current Evergrande, we can only see that we are constantly buying everywhere, and there are two cores of "residential land" and "industrial land". The real products made by Evergrande are not seen, but we can only see that the Evergrande system is grabbing land everywhere.

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