Evergrande Property Maintenance Warranty

On June 5438+065438+1 October1in 2020, 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.

On the evening of the same day, China Evergrande (3333.HK) announced that it had transferred 40.964% equity of Guanghui Group to Shanghai Shenneng Group with a total price of 65.438+0.485 billion yuan.

Evergrande Group said that this move will help the company focus on its core business and achieve long-term steady development.

Guanghui Group is the controlling shareholder of China Automobile (600297), a A-share listed company.

On September 2, 2065438, Evergrande Group invested in Guanghui Group in the form of "acquisition+capital increase", with a total investment of144.9 billion yuan, of which the equity consideration was 6.68 billion yuan and the capital increase was 7.865438 billion yuan.

As a pillar industry of Guanghui Group, China Automobile 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 654.38+0.485 billion yuan obtained from this share sale is only 360 million yuan more than the 654.38+0.449 billion yuan invested two years ago. Considering the financial cost, this unprofitable transaction is more helpless for Evergrande.

Because of the deep pockets of Evergrande Group, it is also a little short of money at this time. At present, Evergrande Group is trying its best to reduce the debt ratio to meet the financing requirements of the regulatory authorities for real estate enterprises.

Evergrande's previously published semi-annual report for 2020 shows that during the reporting period, the company's revenue in the first half of the year was 4.565438 billion yuan, with a loss of 2.46 billion yuan, an increase of 23.82% over the same period of last year. Meanwhile, the asset-liability ratio of Evergrande Group has exceeded 86%.

Previously, Evergrande disclosed its debt reduction plan to the outside world. From 2020 to 2022, the annual debt is 654.38+050 billion yuan, and it will reach 450 billion yuan in three years. In addition, Evergrande expects to achieve sales of 800 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 enterprises face considerable financial pressure. During the reporting period, the loss of the automobile sector, which only accounted for less than 2% of the total revenue in the first half of the year, reached 654.38+0.27 billion yuan, more than half of the total loss.

In the field of new energy vehicles, Evergrande also plans to invest 654.38+05 billion yuan and 654.38+00 billion yuan in 2020 and 20021year respectively.

Its own debt is already high. In order to develop new energy vehicles, Evergrande Group also turned to external financing. On September 18, Evergrande announced that it would be listed on science and technology innovation board 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, Evergrande just announced that it would raise HK$ 4 billion and introduce 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 202/kloc-0 at the earliest.

In the case of weak parent company, 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 practice of self-built sales terminals by the new car-making forces changed its original idea.

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, 1.600 Hengchi sales centers and 3,000 after-sales service centers, covering the core business districts, automobile business districts, communities and surrounding cities of major cities in China.

This article comes from car home, the author of the car manufacturer, and does not represent car home's position.