Recently, for the first time in the capital market, there has been a case of a traditional electric vehicle manufacturer that is not a listed company investing in a listed company, staged a "immediately swallowing the disease" .
html On July 12, Jiangxi Star Technology Co., Ltd., which was subject to the special treatment of "Delisting Risk Warning (*ST)" , issued an announcement that immediately became an investor in the restructuring of Star Technology and will inject electric vehicle assets in batches* ST Xingxing obviously intends to achieve "backdoor listing" through Xingxing Technology. (For details, click: Incident: Immediately restructure and invest in listed companies that are on the verge of delisting, will they be "backdoor listed"? )
To be honest, the equity operations in the capital market often make outsiders "dazzled" by the operations of the financial market. It’s even more smoke and mirrors. Therefore, this article mainly talks about the major event of "backdoor listing" immediately from the perspective of companies, industries, and distributors of .
After completing the gambling agreement ,
’s net profit immediately needs to increase 26 times! Since its establishment in 2008,
has relied less on outsiders and more on its own efforts to overcome financial difficulties. However, in the face of meager profits, strong rivals in the past, and rookies in the future, and the flames of the industry burning into the capital market, they could not escape the magic of capital and "bowed" to the capital market.
In the "Restructuring Investment Agreement" signed by both parties, there is a "gambling agreement" that has attracted great attention in the industry: after investing in the construction of an electric vehicle industrial park with listed companies as the main body, 's electric vehicle related business in the first three years The cumulative net profit is no less than .12 billion . The unfulfilled portion of must be made up to Star Technology in cash.
In the past three years, the year with the highest net profit of Lima was only 2.4652 million yuan. The cumulative net profit from 2019 to 2021 was .7856 million yuan. In the next three years, the cumulative net profit commitment of 120 million yuan will be completed. , needs to reach nearly 26 times in the past 3 years!
Due to the large growth span of the immediate high performance promise, it caused a lot of controversy. People in the industry either expressed support or denounced the move.
On the one hand, some people think that the development prospects of Lima are very broad. takes the market in Zhejiang Province as an example. It has a redemption scale of over 20 million electric vehicles. As a local brand in Zhejiang Province, Lima has geographical advantages. Seizing this market opportunity will become the driving force behind rapid revenue and profit growth.
On the other hand, some people say that immediate performance is worrying and difficult to achieve.
According to Lima’s public statement, annual sales in 2021 will exceed million vehicles. However, judging from the performance announced in the "Reorganization Investment Agreement", the operating income in 2021 will be .017 billion yuan. Based on the official caliber of 2 million units, the average selling price of bicycles will be 1508.5 yuan.
The average selling price of electric scooters in 2021 and the average selling price of electric bicycles in 2021 will be 1,662 yuan and respectively.
Through horizontal comparison, the "2 million sales" officially announced by Lima is obviously unreasonable. Based on this operating income, the real sales of Lima should be within one million vehicles, which is too far behind the official caliber.
Because of the above, 's promise of immediate high performance has been criticized as "painting the cake" by .
According to the "Reorganization Investment Agreement", 600 million shares will be transferred immediately at a price of 0.75 yuan/share, and the transfer price is .45 billion yuan. It exceeds the 311.5 million yuan spent by Yadi to acquire 70% of the shares of two subsidiaries of Nandu Power . Paying such a large price and making a promise to increase profits by 26 times in three years is indeed astonishing, and it is reasonable for the industry to argue about this.
Thunder believes that since Lima dares to make a clear promise, and if the promise does not meet expectations, it will make up for it in cash, it seems to be somewhat certain.However, the market is undergoing turmoil, and it is unknown whether this move will eventually become a popular business tactic. Let us wait and see what the outcome will be.
There are strong enemies in front, and there are pursuers behind.
The industry capital war is about to break out!
has been established for more than 10 years. Why is it now preparing for a "backdoor listing"?
With the rise of new energy transportation and the peak period of stacking and trading, the electric vehicle market is getting hotter and hotter. Just today, the two-wheeled vehicle concept stock continued to strengthen, Emma took the lead to hit the daily limit, the total market value hit a record high, new day hit the daily limit, and No. 9 Company and others followed suit. It can be seen from that the investment community is very optimistic about this area.
At present, Emma, Xinri, Yadi, Mavericks, , and Nine have all been listed. Some unlisted companies are also backed by large capital trees. For example, Hello will complete financing of more than 500 million US dollars in 2021. In 2022, PDP received nearly RMB 100 million in independent investment from Lenovo Venture Capital Group .
There are various signs that China’s electric vehicle industry has entered a stage of embracing capital in an all-round way. The operation of the capital market has been regarded as an important condition for maintaining status or overtaking in corners, and the fueling of capital has also intensified the open and covert battles within the industry. .
For Lima, the courageous advancement of the old giants and the continuous rise of newcomers have created hidden dangers in the "jianghu" of the electric vehicle market.
It can be seen that in recent years, listed companies have relied on capital advantages to become popular. is expanding stores, increasing production capacity, and expanding territory; while advertising and promoting, it is sweeping the market; 's market share continues to increase, leaving space for other brands. Getting smaller and smaller, which immediately made me feel an unprecedented sense of crisis.
Therefore, even if it makes very challenging performance commitments, it must open financing channels as quickly as possible and strive to establish new barriers to competition through the financing platform of the capital market.
Lei Lei believes that in the face of fierce industry competition, in order to survive, in addition to immediately intending to "backdoor listing", more brands in the industry will embark on the road to the capital market in the future.
The capital war in the industry is about to break out. For dealers, it has entered an era of "choosing a brand rather than working hard".
After all, the electric vehicle market has long entered the Red Sea competition. In order to compete for market share, it is inevitable to continue to burn money. How can one person or one company fight against capital and the industry?
Summary
In the fierce industry competition, if you cannot keep up with the times, you will eventually be eliminated. Becoming an investor in *ST Star Restructuring means that the road to entering the capital market has just begun. What awaits Ying Guangjie and his wife is still a tough battle.
In any case, this reorganization investment in a listed company is great news for Lima’s dealers. It means that Lima has the opportunity to complete the transformation of a “listed company” through backdoor transactions. We also wish Lima an “immediate success”!
