On November 1, 22, just as the whole people began to empty shopping carts, Evergrande also carried out a wave of "clearance". Two years after joining Xinjiang Guanghui Industrial Investment Group (hereinafter referred to as Guanghui Group), Evergrande sold all its shares.
China Evergrande (3333.HK) announced in the evening that it had transferred its 4.964% equity of Guanghui Group to Shanghai Shenneng Group with a total price of 14.85 billion yuan.
Evergrande Group said that this move will help the company focus on its core business and achieve long-term and steady development.
guanghui group is the controlling shareholder of a-share listed company china grand auto (6297).
on September 21st, 218, Evergrande invested in guanghui group by means of "acquisition+capital increase", with a total investment of 14.49 billion yuan, including 6.68 billion yuan for equity consideration and 7.81 billion yuan for capital increase.
as a pillar industry of guanghui group, china grand auto is the number one passenger car dealer in China and the largest used car dealer in China.
just three months before this shareholding, Evergrande announced its plan to enter the new energy automobile industry, and set the goal of becoming the largest and strongest new energy automobile group in the world within 3-5 years.
It is worth noting that the 14.85 billion yuan gained from this stock selling has only increased by 36 million yuan compared with the 14.49 billion yuan invested two years ago. Considering the financial cost, this unprofitable transaction is more helpless for Evergrande.
because Evergrande Group, which has deep pockets, is also a little short of money at this time. At present, Evergrande Group is trying its best to reduce the debt ratio, so as to meet the financing requirements of real estate enterprises at the regulatory level.
Evergrande's previously published semi-annual report for 22 shows that during the reporting period, the company's revenue in the first half of the year was 4.51 billion yuan, with a loss of 2.46 billion yuan, an increase of 23.82% compared with the same period of last year. At the same time, the asset-liability ratio of Evergrande Group has exceeded 86%.
Previously, Evergrande revealed its plan to reduce debt. From 22 to 222, the annual debt will be 15 billion yuan, and it will reach 45 billion yuan three years later. In addition, Evergrande is expected to achieve sales of 8 billion yuan this year, which may provide a strong financial guarantee for its three-year debt reduction plan.
at the same time, the funds obtained after the clearance will also provide necessary financial support for the research and development and mass production of new energy vehicles.
it is not difficult to see from the financial report that Evergrande's concept of "buy in buy buy" makes the enterprise face considerable financial pressure. During the reporting period, the loss of the automobile sector, which accounted for less than 2% of the total revenue in the first half of the year, reached 1.27 billion yuan, more than half of the total loss.
in the field of new energy vehicles, Evergrande plans to invest 15 billion yuan and 1 billion yuan in 22 and 221 respectively.
its own debt is already high. In order to develop new energy vehicles, Evergrande Group has also turned to external financing. On September 18th, Evergrande announced that it would be listed in science and technology innovation board of Shanghai Stock Exchange. It is reported that at present, the first phase of listing counseling for Evergrande has been completed. Just three days before the announcement of the listing news, Evergrande Automobile just announced a financing of HK$ 4 billion and introduced strategic investors such as Yunfeng Fund, Sequoia Capital, Tencent Holdings and Didi.
At present, the six Hengchi models announced by Evergrande in early August have not been mass-produced, and the new cars will not be mass-produced until the second half of 221 at the earliest.
under the condition that the parent company is weak, it is imperative for Evergrande to seek external financing channels.
In addition, some insiders said that another reason for Evergrande to sell the equity of Guanghui Group may be that the new force of car-making has changed its original idea by establishing its own sales terminal.
just in August this year, Evergrande indicated that it was already accelerating the layout of sales channels and after-sales networks. At present, Evergrande is preparing to build 36 Hengchi exhibition and experience centers, 1,6 Hengchi sales centers and 3, maintenance and after-sales service centers, covering the core business districts, automobile business districts, communities and the surrounding cities of all major cities in China.
This article comes from the author of Chejia, car home, and does not represent car home's standpoint.