Seizing The First Share Of New Energy In The Science And Technology Innovation Board

After launching a new financing of 800 million, the company launched a rapid impact on Weima Kechuang board.

On the evening of October 13, the website of Shanghai regulatory bureau of China Securities Regulatory Commission published the report on the guidance and filing of initial public offering of Weima smart travel technology (Shanghai) Co., Ltd. and listing on the science and technology innovation board (hereinafter referred to as the report).

According to the report, Shanghai Weima smart travel technology (Shanghai) Co., Ltd. (hereinafter referred to as "Weima travel") plans to apply for the initial public offering of RMB common stock (A-share) and listing on the science and technology innovation board. The tutor is China Securities Co., Ltd., and the coaching agreement is signed on September 30, 2020.

Qixinbao shows that Weima travel was established in December 2016 and is affiliated to Weima smart travel group with its legal representative Shen Hui. It owns the brand of "Weima automobile". Its business includes technology design and R & D of new energy intelligent vehicles, technology transfer, wholesale of auto parts, investment management consultation and investment management.

This also means that after NiO, Li and xpev successively landed on Nasdaq, Weima, which is one step behind, is striving for the "first share of new energy in the science and Technology Innovation Board".

Previously, some sources close to Weima pointed out that Weima automobile has started the change of the company's shareholding system to prepare for the listing on the science and technology innovation board. According to the plan, after Weima began to apply for the science and technology innovation board at the end of September, it is basically determined that it will officially land on the science and technology innovation board in 2021.

Public information shows that in the past two months, Weima travel has also made several changes in shareholders' equity, and twice substantially increased the registered capital to RMB 6.89 billion.

From the point of view of the company's founder and CEO, Wang Shi and his wife hold 57% of the company's shares directly and indirectly, which are controlled by Mr. Wang and his wife.

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Under the influence of multiple factors, China's new car manufacturing enterprises have ushered in more obvious differentiation this year. On the one hand, the sales volume and market value of Weilai, Xiaopeng and idealistic listed companies continue to grow, Weima and Tianji are closely followed by large amount of financing; on the other hand, beiteng, Bojun and sailin have exploded successively.

At present, lack of money and self "hematopoietic capacity" is still the biggest obstacle to the further development of new car manufacturing enterprises. Seeking listing has also become an important way for new forces to solve the financing problem.

In fact, since the beginning of this year, Tesla's share price has soared, which has also led to the popularity of the whole concept of intelligent and new energy vehicle market in the capital market. At the same time, the accumulation of technologies such as intelligent network connection and automatic driving, as well as the innovation in the concept and operation mode of new car manufacturing enterprises are just the short board of traditional car manufacturing enterprises.

From the development trend of the industry, the automobile industry is moving from the era of machinery and hardware to the era of software defined automobile. Software will play a huge role in the automotive industry and bring broad commercial potential.

Driven by Tesla, the capital market continues to be optimistic about the intelligent Internet connection and the new energy industry, which also provides more development opportunities for the new automobile manufacturing forces.

What's more, the registration system of the science and Technology Innovation Board makes the science and technology innovation board more inclusive of enterprises and does not require profits. At the same time, since the opening of the science and technology innovation board, the innovation bonus has been continuously released. As a key plate in China's exploration of hard science and technology innovation industry, support policies can be said to be coming in a stream, so the science and technology innovation board has become the most attractive place for Chinese science and technology innovation enterprises.

From the perspective of the industry, in terms of enterprise development, it is of great significance to become the first stock of new energy vehicles on the science and technology innovation board, and obtain greater support from the Shanghai Stock Exchange, higher attention and higher valuation of the capital market.

From the current valuation and operating income of Weima, Weima has met the listing conditions of the science and technology innovation board. After the completion of round D financing of 10 billion yuan on September 22, Weima has obtained nearly 33 billion yuan of financing since its establishment, and its valuation has also been further improved.

Not only Weima, which officially launched the listing guidance, but also attracted a large number of "competitors" with the financing and policy dividend brought by the scientific and technological innovation board.

As early as this year's Chengdu auto show, Hezhong new energy publicly announced the launch of round C financing, and planned to be officially listed in 2021; on September 17, this year, Evergrande automobile, which has been listed in Hong Kong stock market, also announced that it plans to issue RMB shares to be listed on the Shanghai Science and technology innovation board, hoping to become the first new energy vehicle enterprise listed on the science and technology innovation board.

The rhythm of listing is related to the success or failure of the new force of car making. In the face of "crowded track", whether it can rush and land on the scientific and technological innovation board first, there is not much time left for Weima.

Challenge

In fact, for the new forces of car making, listing does not mean solving all problems. The ups and downs of Weilai automobile in the past year have fully proved that the ability of products, marketing, customer service and even sustainable development is more important.

"Weima will develop into the first car making force with positive gross profit rate." Shen Hui, the founder of Weima automobile, has stressed more than once that Weima's advantage lies in its relatively stable cash flow management.

And the pace of new products has been accelerated. At this year's Beijing auto show, Weima officially launched the EX6 plus 6-seat model, with the price of 279900 yuan and 288800 yuan respectively after comprehensive subsidy. With the launch of EX6 plus 6-seat version, Weima will also expand its models on sale to four models, namely Ex5 Z, Ex5 commemorative edition, EX6 plus and EX6 plus 6-seat version. At the same time, the first sedan based on the concept car Maven will be officially produced by the end of 2021.

However, from the market performance of Weima products since this year, Weima's sales volume, which takes the "civilian route", temporarily lags behind Weilai, ideal and Xiaopeng.

According to the sales data released by various local new car manufacturers recently, in the first nine months of this year, Weilai ranked first with the sales volume of 26000 vehicles, ideally ranked second with the performance of 18000 vehicles, and Xiaopeng ranked third with 14000 vehicles. Although Weima has not released the total sales volume of the first nine months, combined with its sales data in the first half of the year, Weima's total sales volume this year is about 13900, slightly lower than that of Xiaopeng, ranking fourth.

What's more, even though some of the first domestic car manufacturers have achieved significant year-on-year growth in the third quarter of this year, there is still a big gap compared with the outsider Tesla.

"Judging from the sales data in September, the sales volume of Tesla is almost the sum of the sales of the three new forces of head building." Recently, Cui Dongshu, Secretary General of chenglian Association, said in an interview with reporters.

The price of ex99 model will be reduced to RMB 240000 for domestic models, and the target price of domestic model will be reduced to RMB 240000.

Besides Tesla, Weima will also face the competition from traditional automobile enterprises such as GAC new energy, arcfox and BYD.

In the future, it is still important how to realize self "blood production" and establish competitive advantage through the injection of external capital.

"After obtaining the d-round financing of 10 billion yuan, Weima will continue to invest in R & D and brand building, and continue the construction of" moat "to maintain the leading position in technology." At the Beijing auto show on September 26, Wang Xin, CGO of Weima automobile, said in an interview with 21st century economic reporter that Weima's next step is to continue to invest in intelligent R & D, followed by strengthening brand building, and continuing to sink in channels to serve more "small town youth".