In the above planning, the proportion of new energy vehicle sales in the total sales volume of new vehicles will be reduced from the 25% previously mentioned to about 20%. In addition to the rigid index of weakening quantity, the planning emphasizes the construction of key technology and infrastructure. In the view of the above enterprise insiders, this means that the policy direction of the new energy vehicle industry is gradually changing from weight to quality.
In terms of production capacity, it is mentioned in the regulations on investment management of automobile industry that high-tech enterprises are encouraged to enter the automobile industry by looking for OEM methods to develop smart cars, so as to achieve the effect of limiting new production capacity and utilizing idle capacity.
Evergrande and country garden smash new Empires with money? Real estate is not a good sideline
The diversification of real estate enterprises has long been nothing new.
The most familiar ones in the industry are Evergrande, Biguiyuan and Vanke.
Evergrandes car making business is vigorous in the industry. On November 12, Evergrande automobile officially announced that the production bases of Hengda automobile in Shanghai and Guangzhou started trial production and commissioning. According to the previous plan, the two production bases will be able to produce 1 vehicle per minute.
On November 10, Evergrande officially released the hengchi vehicle logo, which explained the source and connotation of the logo by protecting the blue sky, winning the Red Sea, the Oriental lion, and being proud of the world, and stated that by 2025, Evergrande group will build Evergrande into the largest and most powerful new energy vehicle group in the world.
At the half year performance conference of Hengda automobile in 2020, Evergrande disclosed for the first time the specific investment in vehicle manufacturing since 2019, with a total investment of 29.4 billion yuan. However, Evergrande obviously spent more than that. Previously, some media reported that Evergrande had spent nearly 300 billion yuan on car building dream in 2019 alone. According to the public reports, Evergrande signed strategic cooperation agreements with Guangzhou municipal government and Shenyang municipal government successively in June 2019, and will invest 160 billion yuan and 120 billion yuan respectively in the two places for the construction of new energy vehicles and related accessories project bases.
However, there has been a lot of controversy in the industry about Evergrandes car making, and the real reason for the car making has also been questioned. Although Evergrande has not made a positive response to the markets query, it is an indisputable fact that Evergrande loses money and takes land.
According to the financial report data, from 2018 to the first half of 2020, Hengda automobile has accumulated a loss of 8.832 billion yuan in the past three years. According to incomplete statistics of fuel finance and economics, from 2019 to 2020, Evergrande motor took several commercial and residential plots in Tianjin, Luan, Nantong, Shenyang, Guangzhou, Zhengzhou and other cities, with a total amount of 17.7 billion yuan and a land area of more than 3 million square meters.
Country garden is also a high profile robot. Since the founder of country garden, Yang Guoqiang, announced to march into the field of robots in 2018, country garden has successively established two robot companies, namely, construction robot company bozhilin robot and catering robot company Qianxi robot group. The products cover construction robots, security robots, cleaning robots and cooking robots.
At the 22nd China International hi tech fair just past, Qianxi robot group presented a visual performance of intelligent technology for the audience with a number of self-developed catering robots. In early November, bozhilin robot released 9 types of 43 construction robots for a project in country garden in Shunde. According to media reports, these robots have been on duty in batches.
Compared with Evergrande and country garden, other real estate companies engage in sideline business relatively low-key, such as Vanke pig raising. At the Vanke 2020 northern regional media exchange meeting on October 17, Yu Liang first responded to the hot news of pig raising, saying that Vanke entered the pig industry not because pigs are fat and houses are thin, but because customers need us, we should do more.
In addition to property services, long-term apartments, cultural and tourism towns, community pension and other sectors closely related to the main industry of real estate, rongchuangs medical treatment, green land finance, green city agriculture, Xuhuis education and jiazhaoyes E-sports are closely related to the main industry of real estate. The sideline businesses of real estate enterprises are diversified and their concepts are endless. According to the statistics of Kerui research center in 2019, 70% of the top 30 real estate enterprises have issued diversified business strategies; 97% of the top 100 real estate enterprises have diversified business.
However, it is one thing to do sideline work, and whether it can be done well is questionable.
Choice is more important than doing things. We must respect the rules of the industry for diversification. Diversification to choose an industry and the scale of real estate is basically equal. In addition, the industry should have leading and successful companies. In the forum, Liu Ruiguang said bluntly, real estate people are too proud to do anything with real estate. They take money to smash, advertise, turn around quickly, hire people with money, and bring the best people, the best stars and the best things here, and they will surely succeed.
If we want to diversify, what we have to do is to dare to do, and we must also dare to recognize the planting. After planting, real estate can earn back in a few years.
Evergrande has been losing money continuously, and the robot in country garden still has a long way to go. Whats more, the industry has been questioning the real estate sideline. For the diversified business of real estate enterprises, when can we really enter the harvest period?
Diversified business is in an awkward situation
Evergrande is the biggest sideline among real estate enterprises. Since 2015, Evergrande has been holding high the banner of diversification, constantly crossing the border, from mineral water, to grain and oil, mother and baby, sports and even culture and tourism industry, to the well-known automobile. He won the Asian Football Championship for four years.
However, Evergrandes capital story is still being told.
On August 3, the first six models of hengchi were released. The next day, Evergrande healths share price soared, and its market value reached a historical high of HK $320.1 billion, surpassing the domestic leading auto companies SAIC Group and BYD. On August 26, Evergrande health officially changed its name to China Evergrande New Energy Automobile Group Co., Ltd. (hereinafter referred to as Evergrande motor).
On September 15, Evergrande issued 177 million shares at the allotment price of HK $22.65 per share. The total proceeds from the rights issue will be about HK $4 billion. The investors introduced include Tencent holdings, Sequoia Capital, Yunfeng fund and didi travel. Among them, Yunfeng fund is a private fund founded by Ma Yunshen. After the completion of the transaction, Evergrandes shareholding ratio decreased from 74.99% to 72.95% and obtained HK $4 billion in capital.
On September 18, Evergrande Motor announced its intention to issue RMB shares and list on the science and Technology Innovation Board of Shanghai Stock Exchange.
It is not only Evergrande. On November 8, Baoneng automobile Xian base green smart factory was officially completed, and Baoneng extended range electric vehicle rev was also offline on the same day. It is the first model on the new energy xev platform independently developed by Baoneng automobile. On July 6, Fuli also announced that it would participate in Huatai Automobile and jointly develop the new energy automobile industry.
The robot restaurant in country garden is also very popular recently. On November 11, a number of robots independently developed by Qianxi robot catering group of country garden appeared at the China International hi tech achievements fair.
According to the data, Qianxi group has applied for more than 700 kinds of patents, independently developed more than 80 kinds of robot equipment and software systems, and obtained CR certification of the first system integrated catering robot in China. At present, the company operates 13 robot restaurants in Foshan, Guangzhou, Jiangmen and other places, with more than 200 single machines of various kinds of catering robots, and has realized operation in hospitals, business centers, scenic spots, universities and government and enterprise units in more than 10 provinces and cities such as Beijing, Jiangxi and Shaanxi.
However, it is not clear how much profit the robot restaurant can get at present. An industry person close to country garden experienced the flagship store of robot Chinese restaurant in Zhujiang New Town, Guangzhou, which opened in January. In his opinion, the form is greater than the food itself, which is machine automation. There is no creativity. We cant see the competitiveness compared with traditional restaurants. Maybe adults will try with children.
At the end of September, the first batch of large-scale engineering application construction robots of bozhilin completed the handover ceremony in Fengtong garden project of country garden in Shunde. A total of 9 types of 43 construction robots were in service, including security alert robots, bricklayer robots, brick laying robots, painting robots, sweeping robots, etc.
In the financial reports of 2019 and the first half of 2020, country garden stated that the troika was real estate, robot and modern agriculture, which can be seen from Yang Guoqiangs high expectations for robot industry.
In contrast, Vanke pig breeding, although full of topics, seems to be more robust. In March 2020, Vanke officially established the food business department, which mainly distributed in three major areas: pig breeding, vegetable planting and enterprise catering. On May 7, the food business department openly recruited pig farm development manager, general manager of settlement pig farm, professional manager of pre settlement, development and construction application specialist, pig farm veterinarian, etc.
According to Tianyan survey, Zhuhai Qinshan JIAYE Agricultural Development Co., Ltd., which is controlled by Vanke, will increase three foreign investments in 2020, all of which are pig breeding enterprises with a total investment of only 21 million yuan.
Deng Haozhi, a real estate economist, pointed out to ran finance and economics that the sideline business of Vankes pig raising is actually a relatively normal market-oriented behavior, in which it discovers business opportunities and then tries boldly, with little investment and controllable risks.
Lu Wenxi, senior market analyst of Zhongyuan Real estate, believes that pig raising is cyclical and worth investment in special period. Now pork price has dropped again, and Vanke pig raising has the nature of playing with tickets.
In addition to the inter-bank sidelines of leading real estate enterprises such as bihengwan, Aoyuan, a new 100 billion yuan real estate enterprise in 2019, has also been keen on the medical beauty business recently.
According to the financial report of the first half of the year, the monetary capital of Aoyuan health in June 2020 was RMB 990 million, including RMB 260 million of short-term bank loans. In other words, Aoyuan health has entered the medical and aesthetic industry in the form of debt.
For the big health industry, Aoyuan Health told fuel finance that it was in the process of structural adjustment and it was not convenient to disclose more information.
Using money to create a new Empire
The general path is to spend a lot of money to buy fast lane.
Evergrandes car making makes the automobile industry astonished. It has acquired a mature automobile industry chain by buying and buying at Evergrande speed. As early as 2017, Evergrande health invested $800 million in Faraday future founded by Jia Yueting. In 2018, both sides turned against each other, and Evergrande finally ended its first attempt to acquire 32% equity of FF company and control FFs China business.
But Evergrande has not stopped. Xu Jiayins determination to build a car will be out of control in 2019. In January 2019 alone, Evergrande held NEVs, a Swedish electric vehicle company, with us $930 million, Kanai new energy with 1.06 billion yuan, and koniseg, a Swedish sports car brand, with 150 million euro. NEVs acquired Saab in 2012, and established Guoneng automobile in Tianjin in 2015. Hengda increased its capital by 3 billion US dollars and 380 million US dollars respectively in November 2019 and June 2020 to complete the wholly-owned acquisition of NEVs.
In 2019, Evergrande will continue to enter e-traction, a hub motor manufacturer, Hofer Aktiengesellschaft, a leading power battery company, and Shanghai carnet new energy, a leading power battery company. At the end of the year, Hengda has reached strategic cooperation with several top automotive technology and design companies in Europe and the United States.
Real estate tycoons build new energy vehicles across the industry, which is generally believed to be related to the state subsidies for new energy vehicles in the past decade. On April 23, the Ministry of finance, the Ministry of industry and information technology, the Ministry of science and technology, and the national development and Reform Commission clearly extended the implementation period of financial subsidy policy for the promotion and application of new energy vehicles to the end of 2022.
However, the subsidy standard began to decline in 2016, and the relevant policies of the Ministry of Finance pointed out that the subsidy standard in 2017-2018 decreased by 20% on the basis of 2016, and the subsidy standard in 2019-2020 decreased by 40% on the basis of 2016.
It can be seen that Xu Jiayins rapidly spliced automobile empire may be catching up with the last bus of new energy.
Country gardens cross-border robot and artificial intelligence industry is also making efforts to catch up with potential industries in the future.
Made in China 2025 was proposed in 2015. Yang Guoqiang is full of enthusiasm for intelligent manufacturing and robot era. In 2018, he made a high-profile statement at the companys internal management meeting that in five years, we will invest 80 billion yuan in the field of robots.
According to the 2020 interim report of country garden, country garden focuses on building robots, BIM, new assembly type and related core technologies, and has recruited 3604 excellent R & D talents at home and abroad for the R & D, production and application of construction robots and related intelligent construction equipment, assembly type, etc. it has submitted 2314 patent applications and 567 authorized patents, and has a batch of independent core in key fields Technology.
In just two years, country garden has also created a robot empire. Deng Haozhi commented that country gardens move is in response to the call of the state, but there is great uncertainty about whether large-scale investment in a new field can succeed or not, and how the result of the attempt is.
Real estate enterprises cant do sideline business well
Although the determination to do sideline is very big, but at present, most of these real estate enterprises sideline are in vain.
Evergrande automobile, which looks very brilliant, recorded a loss of 2.457 billion yuan in the first half of 2020, an increase of 23.82% compared with the loss of 1.984 billion yuan in the middle of 2019. According to the annual report, due to the expansion of new energy vehicles, Evergrande motor lost 1.428 billion yuan and 4.947 billion yuan in 2018 and 2019 respectively. Accordingly, as of the first half of 2020, Hengda automobile has accumulated a loss of 8.832 billion yuan in the past three years.
Evergrande, located in the red file, announced on November 8 that it would terminate its restructuring plan with Shenzhen real estate A. strategic investors of 130 billion yuan also roughly completed the negotiation. It was determined that only 3 billion yuan of war investment needed Evergrande to pay the principal for repurchase, and the debt crisis was solved. However, Evergrande, which still has on balance sheet liabilities of 900 billion yuan, sells its houses at a discount of 30% and vigorously promotes the collection of funds. Its cash flow situation is still unsatisfactory.
Therefore, on November 1, Evergrande transferred its 40.96% equity of Guanghui group by RMB 14.85 billion. Previously, Hengda acquired 40.96% equity of Guanghui group through acquisition and capital increase in September 2018, with a total investment amount of 14.49 billion yuan.
In order to reduce the companys debt ratio, Xu Jiayin did not hesitate to give up the largest automobile sales channel he bought. However, hengchi will mass produce in 2021, with an initial production capacity of 400000 vehicles. How to sell will be in doubt.
In addition to Xu Jiayins 14.85 billion yuan sale of the equity of Xinjiang Guanghui automobile distribution company, in order to reduce the debt, Fuli announced on November 9 that it plans to transfer 70% of the equity of Fuli comprehensive logistics park of Guangzhou International Airport to Blackstone Group with consideration of 4.41 billion yuan. Data shows that Guangzhou Fuli International Airport comprehensive logistics park is the only logistics park project of R & F, which was established in 2007.
Lu Wenxi said to the burning finance and economics, now the real estate enterprises like to do eye-catching things, but if they do not do well, they will overturn. For example, in 2016, Yinyi group, which acquired the industrial chain of RMB 12 billion and entered the new energy automobile industry, applied for bankruptcy reorganization in the middle of 2019.
Song Hongwei, director general of Tongce Research Institute, told fuel finance that enterprises in East Asia tend to adopt diversified development strategies when they develop to a certain stage. If they choose industries that conform to the trend of the times, the risks will be relatively reduced. There are many successful cases of diversification, but there are several failure cases behind it. There are leading enterprises in every industry. They have accumulated many years of experience, customers and channels. The real estate enterprises suddenly cross-border and face more fierce competition.
Sideline is not easy to do, the reality gives a heavy blow to the real estate enterprises. If the sideline work is not done well, the suspicion of enclosure of land and money is always unavoidable.
According to Tianyan, there are many subsidiaries of Evergrande Automobile Co., Ltd., which are specialized in real estate development business. For example, Evergrande New Energy Technology Group Co., Ltd. has 28 subsidiaries with the words of life service or real estate.
According to incomplete statistics of fuel finance and economics, from 2019 to 2020, Evergrande motor took several commercial and residential plots in Tianjin, Luan, Nantong, Shenyang, Guangzhou, Zhengzhou and other cities, with a total amount of 17.7 billion yuan and a land area of more than 3 million square meters.
Evergrande also uses land for financing. For example, in October 2019, Evergrande automobile issued the Evergrande u00b7 hengneng No.1 Evergrande new energy project collective fund plan to raise 1.5 billion yuan of capital. The mortgage was the residential land use right in Luan City, Anhui Province, which was acquired by taoyong company, Mingchi company, Jingbin company and Shenan company, which were held by Evergrande automobile, on June 25, 2019.
In addition to the purpose of doing sideline business is not pure, the way real estate enterprises engage in sideline business is not quite right.
Yang Guoqiang also emphasizes country garden speed. Qianxi restaurant plans to mass produce about 5000 single robot devices by 2020, and construction robots also hope to achieve mass production in 2020. This obviously does not conform to the industry rules, as can be seen from the frequent changes in the top management of bozhilin.
The reason is that people in the industry believe that it has something to do with Zhang Ying, the president of the real estate sector, Zhu Jianmin, the vice president, and Zhang Zhiyuan, the CEO. The internal staff of bozhilin have disclosed to the media that Zhou Xiaotian left because of the contradiction with Zhang Ying. It is difficult to apply the conventional thinking of the real estate industry to the research and development of robots.
It seems that real estate enterprises can do a good job in sideline business, which is questionable.
However, it is worth mentioning that the sideline green space finance of top 6 real estate enterprises seems to be able to play. This year, Greenland said it would carry out digital transformation of Greenland finance and realize the split listing within three years. Greenland finance plans to raise up to 6 billion yuan before the IPO, and its valuation may rise to 34 billion yuan, Reuters reported on August 31. As of press release, the total market value of Greenland is only 76.9 billion yuan.
Data show that Greenland finance was established in 2011, and Geng Jing, a senior financial practitioner, joined the company in 2014, and the companys business scale reached 20 billion yuan in that year. At present, the company has obtained diversified financial licenses including banking, securities, trust, payment, network small loan, etc. According to the annual report of 2019, Greenland finance has realized a net profit of 3.06 billion yuan and an asset scale of 40.54 billion yuan. In the first three quarters of 2020, the total profit of Greenland was 22.8 billion yuan, an increase of 2.5% over the same period of last year, while the total profit of financial industry was 2.5 billion yuan, with a year-on-year growth of 10%, accounting for 11% of the total profit.
The Research Report of Huaxi Securities (12.430, - 0.22, - 1.74%) shows that, stepping on the green space of three red lines, as of the end of the third quarter, the asset liability ratio after excluding advance receipt was 53.2%, 1.6 percentage points higher than the same period last year, and the net debt ratio was 183.45%, 10.4 percentage points higher than the same period last year. Recently, Shenzhen Qianhai Tianji Fortune company has been thunderstruck, which also leads to the fact that the capital chain of Greenland Chengdu project is broken. It is worth paying more attention to whether the greenbelt, which is deeply in debt predicament, can break through by sideline business.
Real estate companies are becoming more and more popular, but whether they can be as brilliant as the real estate owners and let the big guys make a lot of money is still unknown.
Is the house price in key cities rising or falling? What are the policy signals of strong concern? Which areas should you choose to buy a house? What conditions do you need to get on and off? How to redefine high quality assets when there is no place to invest?
On November 30, 20:00-22:00, Changsheng time u00b7 2020 property market closing meeting, Yao Changsheng, deputy editor in chief of Netease media and senior real estate personage, gave a live interpretation of the course. The price of the course was 1999 yuan / person, and the top 200 applicants were entitled to a special price of 799 yuan / person. If you have any questions, please add the Houchang village fairy wechat (money163888) for consultation.
National Development and Reform Commission investigates investment in new energy vehicles_ NB12679
National Development and Reform Commission investigates investment in new energy vehicles