Who is Yao Zhenhua the Barbarian?

Yao Zhenhua, which once threatened to have hundreds of billions of assets to support "dreaming", now seems to be in trouble.

Recently, Baoneng Group signed a strategic cooperation agreement with Guangzhou Development Zone. Baoneng Automobile Headquarters, a subsidiary of Baoneng Group, will be located in Guangzhou Development Zone with a strategic investment of 654.38+0.2 billion yuan.

From Shenzhen to Guangzhou, Baoneng's move is ostensibly a major adjustment of the car-making strategy, but the "stories" hidden behind it are extremely rich.

Whether it is Baoneng's six automobile bases in Shenzhen, Xi 'an, Guangzhou, Guiyang, Kunming and Kunshan, the progress is slow at present. For example, Guanzhi and DS acquired by Baoneng have not improved much so far.

At the same time, since the beginning of this year, there have been many problems in the operation of Baoneng Automobile, such as layoffs, failure to pay wages on time, failure to pay provident fund on time, etc ... A series of labor disputes caused by the shortage of funds began to plague Baoneng Automobile.

However, all this has not slowed down the recruitment progress of Baoneng Automobile.

Since February this year, Zheng Zhuang, the general manager of the former Geometric Brand Sales Company, and Guan Yu, the former vice president and general manager of the purchasing company of Geely Automobile Group, have been recruited from Geely. On June 10, Baoneng Automobile also recruited Hong Hao, the former vice president and marketing minister of Dongfeng Renault Automobile Co., Ltd., as the vice president of Baoneng Automobile Group Co., Ltd., to be fully responsible for the marketing of all brands under Baoneng Automobile.

According to statistics, since 20 17 entered the automobile industry, Yao Zhenhua has spent10 billion yuan on the dream of building a car. At the same time, starting from 20 18, we will invest10 billion yuan annually for the research and development of new QorosAuto cars for five consecutive years, and as many as 26 new models will be launched by 2022.

Last year, the sales volume of Qoros was only 65,438+03,093 vehicles, which obviously made Yao Zhenhua somewhat unsustainable. Especially last year, the real estate business lost HK$ 800 million. Facing the car-making business that still needs to burn money, Yao Zhenhua has to seek "foreign aid".

In fact, the automobile business headquarters in Yao Zhenhua will inevitably be compared with Evergrande in Guangzhou. Especially before the same car leaves, Evergrande has exceeded the market value of 65.438+000 billion, which I believe will make Yao Zhenhua jealous.

Undoubtedly, the strategic investment of 654.38+0.2 billion yuan in Guangzhou Development Zone can alleviate the urgent need of Baoneng Automobile, but in the face of increasingly fierce new car competition, has Yao Zhenhua made all preparations?

The automobile headquarters is located in Guangzhou. What's Yao Zhenhua doing?

After obtaining the strategic investment of 654.38+0.2 billion yuan from Guangzhou Development Zone, the relationship between Baoneng Automobile and Guangzhou will undoubtedly become deeper and deeper.

According to the cooperation agreement, Baoneng New Energy Automobile Group will settle in Guangzhou Development Zone and establish a new energy headquarters base integrating manufacturing, R&D and operation.

As early as 20 17 and 12, Baoneng started construction in Guangzhou New Energy Industrial Park, which is also located in Guangzhou Development Zone. At that time, Baoneng announced that it would set up a new energy headquarters, a vehicle and parts research and development center, a vehicle manufacturing base and a sales and logistics center in the industrial park.

Some analysts pointed out that for the state-owned enterprises in Guangzhou Development Zone, the strategic shareholding of Baoneng New Energy Industrial Park10 billion yuan may be reflected in the strategic plan of Guangzhou automobile industry in 2025, but the trend of introducing cooperative development industries by local governments seems to be more and more popular.

For example, in September last year, the Shanghai state-owned enterprise platform also invested 654.38+0 billion yuan to finance Weimar Automobile; In June last year, 5438+ 10, Hefei State-owned Platform invested 7 billion yuan in Weilai China; At the end of 65438+ 10 this year, it was reported that Zhuhai state-owned assets will participate in Faraday's latest round of financing in the future ... What seems to be implied behind this is that a new round of "investment feast" in the new energy automobile industry is coming soon.

It is worth noting that Kung Fu Automobile also noticed that the battery R&D and manufacturing base set up by Baoneng Automobile in Kunshan recently welcomed two new investors-Kunshan Industrial Development Guidance Fund Partnership (Limited Partnership) and Kunshan Development Zone SDIC Holdings Co., Ltd.

After the introduction of two investors, the registered capital of Kunshan Ju Innovation Energy Technology Co., Ltd. was changed from 750 million yuan to 654.38 billion yuan.

However, after many victories, Yao Zhenhua's urgent task is to show the manufacturing strength of Baoneng Automobile to the outside world as soon as possible.

Recently, following QorosREV3, a brand-new pure electric drive model of Qoros REV5, another pure electric drive model of Qoros REV5 also appeared in the latest enterprise new car declaration and publicity catalogue of the Ministry of Industry and Information Technology, which means that REVGemini composed of Qoros REV3 and Qoros Rev5 will get a birth certificate and officially enter the countdown to listing.

20 17 after purchasing most of the equity of qoros from Chery, Yao Zhenhua proposed on 20 18 that the group or its subsidiaries will purchase about 654.38+million vehicles from qoros every year in the next three years, and invest/kloc-0.0 billion yuan in new car research and development every year in the next five years.

The data shows that the sales from 20 18 to 2020 are about 62,000 vehicles, 22,700 vehicles and 65,438+0,300 vehicles respectively. The brand image of Qoros, whose sales volume is shrinking, has already plummeted in China auto market, and the effect of the next new energy transformation is still a question mark.

At the same time, in the past one or two years, there have been rumors that QorosAuto has defaulted on supplier payment, laid off employees on a large scale, stopped issuing year-end bonuses and stopped paying social security, which makes people doubt its operating conditions.

Although Baoneng can dig people from major traditional car companies while "dispelling rumors", Yao Zhenhua's determination to build a car has been questioned by the outside world.

Yao Zhenhua, as the boss of Chaoshan, is well-known in the industry for his work ability and business level.

He majored in industrial management engineering and food engineering at the university. In fact, every industry he set foot in after he founded Baoneng is a layman. From "layman" to "barbarian", Yao Zhenhua's efforts should not be underestimated.

Yao Zhenhua's determination to enter the automobile industry is as firm as that of imitating Wanda to enter commercial real estate eight years ago.

According to media reports, Yao Zhenhua is more aggressive. For emerging industries, it is generally required to achieve explosive growth in a short time, ranking the top three and the top ten worst, with great pressure.

Therefore, for the automobile industry with long investment cycle and low return, "extensive" Yao Zhenhua should learn how to become more "refined".

Yao Zhenhua spends money on cars, how far is it from IPO?

Yao Zhenhua's dream of building a car began on 20 14. At that time, Baoneng successively acquired CSG Group, Shaoneng, Zhongju Gaoxin and other auto parts enterprises, and Yao Zhenhua officially took the first step to the auto industry.

In 20 18, after the famous "Wanbao dispute", Yao Zhenhua resolutely sold Vanke shares and cashed in 25.7 billion yuan, and began to "comprehensively lay out the whole automobile industry chain", and successively set up battery research and development, power research and development, automobile design and other units, including about 3,000 automobile parts groups.

According to Baoneng's disclosure in 2020, the company's total investment in automobile business exceeds 200 billion yuan, and three manufacturing bases have been built, and several key regional production bases are under construction. The planned automobile production capacity is 3.75 million vehicles/year, covering an area of 1 1,000 mu.

However, although Baoneng's car-making plan in recent years is costly, its progress is very slow.

At the beginning of last year 1 1, the green intelligent factory of Xi' an base of Baoneng Automobile Group was officially completed, and the first car of the new energy xEV platform independently developed and the Baoneng extended-range electric vehicle (REV) were also rolled off the assembly line on the same day. This is the third vehicle manufacturing base of Baoneng Automobile Group after Jiangsu Changshu Guanzhi Manufacturing Base and Shenzhen Baoneng Automobile Manufacturing Base (formerly Chang 'an PSA Manufacturing Base).

In addition, Baoneng also defined the capacity planning of new energy vehicles in Fuyang District, Kunming, Guangzhou, Xi, Kunshan and Guiyang, and built automobile production bases. However, the overall construction progress of these five new energy automobile industrial parks has been kept secret by the company.

For example, Baoneng's new energy automobile industrial park in Guangzhou originally planned to complete the infrastructure project at the end of 20 19 and start installing process equipment. The first car will be rolled off the assembly line in the third quarter of 2020, but the fact is that this industrial park seems to have not been built yet.

In fact, in June 165438+ 10 last year, Baoneng and Evergrande were named by the National Development and Reform Commission, requiring them to report the local investment situation since 20 17 and the new energy vehicles and parts projects to be invested, including land occupation, construction content, project progress and investment completion.

According to media reports, the supporting commercial real estate projects "Automobile City" and "Automobile Wisdom Valley" had taken the lead in obtaining sales licenses before Baoneng Xi 'an Automobile Base was completed and put into production.

"As we all know, the automobile industry has a relatively long cycle from R&D, design to manufacturing. After taking the land, some housing enterprises can balance the losses of the automobile business by coordinating banks to provide loans to enterprises and planning some supporting land. " An industry insider told the Kung Fu car.

However, with the tightening of real estate regulation this year, it may have become a "necessary option" for Yao Zhenhua to lead Baoneng to "get rid of the virtual reality".

What's more, at the beginning of this year, Yao Jianhui announced in Baoneng that he would completely quit Baoneng Group because of "disagreement with his eldest brother Yao Zhenhua".

Yao Jianhui said that he has been considering divesting Baoneng Real Estate for three years. Three years ago, it was the beginning of Yao Zhenhua's decision to enter the automobile industry.

In other words, Yao Zhenhua is setting up the headquarters of Baoneng New Energy Automobile in Guangzhou, which will undoubtedly be a brand-new "capital story".

In June 5438+10, it was reported that Baoneng would take over Zotye's base in Linyi, Shandong. Although the news was later deleted, the statements of both sides were still ambiguous afterwards. Especially Zotye Automobile, which is currently in the stage of bankruptcy and reorganization, who will take over still affects the nerves of the capital market and the industry.

Although Zotye issued an announcement in April this year, denying that the investors who participated in the company's pre-restructuring were Tesla, Xiaomi, Weilai or Baoneng, with the state-owned shares in Baoneng, the imagination seems to be much bigger.

However, there are still many problems before Yao Zhenhua realizes the IPO of Baoneng automobile business.

First of all, Yao Zhenhua must ensure that the first model of the new high-end brand GX 16 is released and listed this year, which is an instant hit; Secondly, let Guanzhi and DS get rid of the quagmire of losses and start to realize their own hematopoiesis.

More importantly, unlike the situation that Yao Zhenhua entered the market to build cars four years ago, Baoneng will face competitors such as traditional car companies, Weilai and Tucki. And new companies such as Baidu, Huawei and Foxconn.

It is worth mentioning that Yao Zhenhua, who is 12 years younger than Xu Jiayin, seems to have relatively more opportunities to fight back now. But facing the opportunity window of the same industry, the final competition is the market and products, as well as the ability to integrate the future travel ecology.

skill

Although Yao Zhenhua often speaks eloquently in the company's internal meetings, we seldom hear the "golden sentence" of Chaoshan boss on external occasions.

At present, the most popular saying in the industry is that Yao Zhenhua said "I am an intellectual, and what I do is a down-to-earth thing" after the War of Wanbao.

In fact, both Evergrande and Baoneng believe that it took 654.38 billion+000 billion to build a car, and they all know how difficult it is to go from concept car to mass production.

In particular, new energy vehicles are typical talent-intensive and technology-intensive industries, and building cars is also a protracted war for the development of core technologies. Whether Yao Zhenhua has enough "resilience" will take time to give an answer until Baoneng Automobile becomes a large global automobile group.

The above content was uploaded and published by "Kung Fu Car", check the original text.

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