According to the US SEC website documents, as of 20 19 12 3 1, Gaoying Capital, once the third largest shareholder of Weilai Automobile, has emptied all the shares of Weilai.
In this regard, Weilai Automobile said that "Weilai respects the free choice of investors, and we don't comment too much on this".
In fact, in the second quarter of last year, Gaochun Capital was still very optimistic about Weilai, and even "doubled its holdings". Weilai was also the "heavyweight" with the largest holdings.
In less than a year, Gaochun Capital chose to completely "run away at a loss". What are the factors behind this? And where will Weilai go?
Weilai shareholders compete to "draw blood"?
In fact, for Wei, Gaoyao Capital has always played an important "endorsement" role.
In 20 15 years, Gao Yan Capital led the investment in Weilai 1 100 million USD Series A financing, followed by Series C and C+.
According to the position disclosed by Gaochun Capital in the second quarter of last year, the company increased its holdings of Weilai Automobile to 465,438+0,938,300 shares.
Repeated follow-up and overweight have also enabled major brokers to further upgrade their ratings of Weilai Automobile and are quite optimistic about it.
However, after entering the third quarter of last year, Gaochun Capital reduced its holdings of Weilai shares to13,368,900 shares, with a reduction of 68 12%.
In the fourth quarter, Gaoling Capital, the third largest shareholder in the past, finally chose to completely clear the warehouse.
In fact, Gaoyao Capital is not the only one to reduce its holdings of Weilai Automobile. On February 7th, Temasek reduced its holding of Weilai shares by 65,438+0,396,5438+0,000 shares, and its shareholding ratio dropped significantly from 5.4% to 65,438+0.8%.
Gaochun Capital and Temasek have always been famous for their keen judgment on the general trend, and this move of "cutting meat" to clear the warehouse has undoubtedly raised doubts about Weilai's capital and operation, and also made its future prospects more uncertain.
In addition, the news of Weilai's internal delay in paying wages further proves that although the official claims that employees can apply to replace all or part of their thirteen salaries with restricted stocks, it is difficult to hide their tight cash flow.
These facts reflect to some extent that Weilai's financial situation and even the current situation are still quite difficult.
Will Weilai survive in 2020?
Despite the constant "bad news", fortunately, Wei Lai has won two "life-saving money" this year.
On February 6th, Weilai announced that it had reached 1 billion USD financing, and the investor was an unrelated Asian investment fund.
14 In February, Weilai announced the completion of the convertible bond financing project of 1 100 million USD again.
According to the agreement, Weilai will issue and sell convertible bonds with a total principal of US$ 200 million to the acquirer in the form of non-public offering. The placing of these two transactions must meet the usual closing conditions and is expected to be completed no later than February 19, 2020.
According to Q3 financial report, Weilai's net loss this quarter reached 2.554 billion yuan.
At this rate of burning money, even if Weilai has "200 million US dollars" of financing, it may still seem "insufficient".
Therefore, these two "lifesaving money" can alleviate Weilai's current predicament to a certain extent, but "finding financing" is still Weilai's main task in 2020.
At the same time, focusing on Weilai itself, we still face many problems and challenges.
At the present stage, as far as the new force of making cars is concerned, Weilai is the most influential brand and the only brand whose product price is above 300,000.
Whether in the north, Guangzhou and Shenzhen, Weilai ES8 and ES6 can still be seen frequently in the streets and parking lots, and they are purchased by real individual consumers, which is the result of Weilai burning tens of billions of dollars.
In terms of brand power, Weilai is undoubtedly the only brand that can build a car with Tesla PK.
However, Wei Lai's problems are also obvious. For example, the efficiency of capital use, cost control, high cost behind building brand power and many other issues.
At the same time, Weilai's biggest challenge is whether it can provide consumers with the same "service" as before regardless of the cost after controlling the cost, so as to maintain the current brand strength and reputation.
Next, how Weilai weighs the relationship between cost and service so that all car owners can recognize and convince it is also a derivative problem of Weilai's financial problem.
Kung fu is angry
It is undeniable that the third largest shareholder's "cutting meat and fleeing" will have a greater impact on the performance of Weilai investment market. But on the bright side, Wei Lai has won two crucial "life-saving money".
In addition, the impact of the epidemic on the automobile market is also an unavoidable pain point.
In the short and medium term, the automobile industry and even the whole macro-economy will be greatly affected by the epidemic, and the cold winter in the automobile market will intensify and the challenge will be more arduous. At the same time, this period is also a key stage for Weilai to survive.
Facing the cold winter, epidemic situation and growing competitors, the future of Weilai Automobile is still difficult and full of crisis.
This article comes from car home, the author of the car manufacturer, and does not represent car home's position.