How about Evergrandes car making? Direct attack on multi site Project site

category:Finance
 How about Evergrandes car making? Direct attack on multi site Project site


At the same time, Evergrandes pace in the capital market has not stopped. Its subsidiary China Evergrande New Energy Automobile Group Co., Ltd. has officially launched the IPO guidance process of the science and technology innovation board on September 22 this year, and the first phase of guidance work has been completed on October 13.

What is the questionable truth about Evergrandes car making? Recently, reporters from the financial association went to Hengda automobile for practical exploration in Anhui, Henan, Hunan, Jiangsu, Shaanxi and other provinces. In addition, the CFA reported on December 1 that a new automobile city in Xixian in the storm of inventory: Baoneng is adjacent to Evergrande, and the plant is built and developed . It is found that there is no lack of construction or slow progress or even stagnation in the field. It is understood that there are financial problems, construction procedures and other reasons.

As of the deadline, Evergrande motor did not respond to the above project progress issues.

Anhui Luan intelligent pure electric vehicle project: slow progress, later than expected

Last year, a total investment of 270 million yuan was invested in Anhui HengAn new energy zone to develop electric vehicles independently. The total land use scale of the project is 2500 mu, and the planned annual production capacity is 500000 vehicles, including 200000 vehicles in phase I and 300000 vehicles in phase II. On November 27, a reporter from the Financial Association came to the construction site of the Luan base of Hengda new energy vehicles in Luan economic and Technological Development Zone.

It is learned from the site that there are two bid sections under construction in Luan base project, and the construction unit of the first bid section is Tianyuan Construction Group Co., Ltd. The construction date of the first bid section is April 20 this year, with a total construction area of 120000 m2. The structural form is the steel bent structure of the general assembly workshop and the steel frame structure of the painting workshop.

The reporter of the financial association observed on the site that there was no large number of construction personnel and transport vehicles coming and going, only two people on duty at the entrance guard box. However, the ground hardening of the main road in the construction site of the first bid section has been preliminarily completed, and the steel frame structure is still in the construction stage and has not been fully formed.

For the progress of the project, the reporter from the financial association contacted Tianyuan Construction, the construction unit of the first bid section. According to the staff of the other party, the construction has indeed stagnated at present, resulting in the increase of the companys human and material resources costs.

The original construction period was about two years. Due to the slow progress of construction, the completion time will be uncertain, and there is a process of negotiation between them. The staff said.

As for the reasons for the lagging progress of the project, the management committee and Hengda Anhui company have confirmed that the main problems are capital problems and some construction procedures are still being improved.

The first phase of standardized plant construction is planned to be completed next year, and the project is also in progress, but from the actual situation, the progress is not fast, and it is later than expected. Luan Economic Development Zone Management Committee project related person in charge told reporters.

Figure 1 bid section of Hengda new energy vehicle Luan base project

The same is true for the adjacent second bid section. The construction of this section was carried out by Hefei Construction Engineering Group Co., Ltd. There are not only no construction personnel on site, but also no staff on duty and any vehicles.

Figure II bid section of Hengda new energy vehicle Luan base project

It is reported that according to the previous planning, after the project reaches the production capacity, it is estimated that the annual total industrial output value will be about 100 billion yuan and the annual tax revenue will be 8 billion yuan. The first phase of the project covers an area of 1370 mu, with an investment of 17 billion yuan, and plans to produce 200000 new energy vehicles. According to local media reports in September this year, Luan economic and Technological Development Zone will focus on the tracking service for the Luan base project of Hengda new energy vehicles with a total investment of 27 billion yuan, so as to ensure the smooth implementation of the project.

Henan Zhengzhou new energy vehicle and power battery project: more than one year after construction, a factory has not been built

Zhengzhou Hengda new energy vehicle project includes Hengda automobile assembly plant and lithium battery plant. The project is located at the intersection of Huanghai Road and Sunwu road in Zhengzhou airport port area, more than 50 km away from Zijingshan Park in the center of Zhengzhou. The project is undertaken by MCC Construction Engineering Group Co., Ltd. (hereinafter referred to as MCC Construction Engineering).

Figure 1 MCC Construction Engineering Co., Ltd. undertakes Zhengzhou Hengda power battery project

The site staff said that at present, only steel structure workers work on the construction site of MCC. There are seven or eight workers. The staff of Evergrande are not here.

Since the construction started in June last year, the construction status has been dry and stop, and the specific reasons are not well understood. However, if environmental protection or other inspections are encountered, it will lead to shutdown. The staff said.

According to the introduction of the battery project on the bulletin board of MCC construction engineering, the construction unit of the project is Zhengzhou Hengda New Energy Technology Development Co., Ltd., which is the first phase construction project of Zhengzhou Hengda power battery, with a total construction area of 109843.48m2 (reporters note: about 164.77 mu). The project includes temporary facilities area, 1 module pack workshop, 1 Chemical capacity workshop, 1 finished product warehouse and raw material warehouse, 1 electrode workshop , 2 6-storey dormitory, 1 4-storey office building, 1 3-storey restaurant (activity center) and other ancillary facilities.

At present, there is only one unfinished factory building on the construction site. It is said that it is planned to be completed in two years, but one plant has not been built yet, so it is difficult to say when the production equipment will enter the site. Field staff revealed.

Figure 1 the construction area of Zhengzhou Hengda power battery project is about 164.77 mu

In February 2019, Evergrande Group signed a new energy vehicle and power battery project with Zhengzhou municipal government. According to reports at that time, in March of that year, the Evergrande new energy vehicle project working group had been established, including Evergrande automobile assembly plant and lithium battery plant, which was expected to cover an area of more than 2000 mu. The project started construction in April and started in June.

Fig. EIA announcement of auto parts project of Hengda new energy automobile Henan Company

According to Tianyan survey, Hengda new energy automobile (Henan) Co., Ltd. is a wholly-owned subsidiary of Hengda new energy automobile Investment Holding Group Co., Ltd., and its legal representative is Wang erchuang, formerly known as Yuhe new energy technology (Henan) Co., Ltd. It is worth noting that Wang erchuang is also the legal representative of Henan Hengda Power Technology Co., Ltd., Jinchi life service (Henan) Co., Ltd., Henan Hengda Ruide Real Estate Co., Ltd.

Hengda new energy automobile (Henan) Co., Ltd. and Jinchi life service (Henan) Co., Ltd. have the same registered address, which are located at No. 312, Lanshan mansion, Poyang Lake Road, Zhengzhou aviation port area. However, a reporter from the Financial Association came to Lanshan mansion and found that the address was a high-end residential community in Zhengzhou airport port area, and there were many foreign-style houses in the community. The financial association reporter did not find the obvious logo of the two companies in the community.

The registered addresses of Evergrande new energy vehicles and Jinchi life service are both located in Lanshan mansion

The e12-32-01 plot project of Hengda future light garden constructed by Jinchi life service (Henan) Co., Ltd. has been approved by Zhengzhou airport port planning municipal construction Environmental Protection Bureau (zjz) (410102020490031). A real estate salesman in Zhengzhou airport port told the financial association that Evergrandes future light property has begun to be sold in advance.

With regard to the progress of Hengda new energy vehicle project and the association of real estate projects, the reporter from the financial association failed to call Wang erchuang, and sent an interview message to Wang erchuang, but he did not receive any reply. Regarding the management responsibilities of Zhengzhou Airport Port Management Committee for Hengda new energy vehicle project and other issues, the reporter of Financial Association sent an interview letter, and the official email of Zhengzhou Airport Port Management Committee replied that there was no message after receiving it.

Hunan Xiangyin central electric machinery project: no machine and workers work on site

The base is the fifth production base of Evergrande new energy after Zhengzhou, Tianjin, Guangzhou and Shenyang, but its scale is less than the investment amount of 100 billion level in Guangzhou and Shenyang. It is understood that the total land use scale of the project is about 2400 mu, and the planned annual production capacity is 500000 vehicles, which is divided into two phases.

On the afternoon of November 26, a reporter from the Financial Association came to the office building of the Management Committee of the industrial park, north of yangshahu Avenue, Xiangyin County, Yueyang City, Hunan Province.

After asking a local resident, he told the reporter that Hengdas new energy vehicle project in Xiangyin is located by Shuntian avenue a few miles away. When he arrived at the project site, he saw a large piece of earth that had been basically flattened.

Figure site of Hengda new energy vehicle base project in Hunan (Xiangyin)

Figure outside the propaganda board of Hengda new energy automobile base in Hunan (Xiangyin)

Around the project base, there were no workers and machines working on site. If there was not a propaganda and introduction board of Evergrande new energy vehicle project beside the road, it would be difficult for the reporter to confirm that the land is the location of the above-mentioned project.

Local insiders disclosed to reporters that the current construction period is slow, and the project contractor has concerns about Evergrandes commercial ticket payment method.

Figure 1 Xiangyin County applied to be included in the provincial and municipal 14th five year plan major project list, and the four automobile industry projects are all related to Evergrande

From the point of commencement, the three new energy vehicle projects with Evergrande as the construction subject start in 2020, namely, the first phase construction project of Hengda new energy vehicle (Hunan), the production base project of Hengda new energy (Hunan Xiangyin) and the completion time of Hengda Xiangyin motor project are 2023 and 2025 respectively. The completion year of Evergrande new energy vehicle base with the largest amount of money mentioned above is expected to be 2025. The three auto industry projects will total 4155 mu.

For the situation of lagging construction progress, the reporter called the Xiangyin County Government Office and Xiangyin County Land and Resources Bureau, and their staff said that they did not understand the specific progress of Hengda new energy vehicle project.

The progress of Evergrandes project in Hunan is also that the real estate is much faster than that of new energy vehicles. Evergrandes land acquisition time in Xiangyin is earlier, and the construction progress is faster.

Among them, a real estate Hengda Yuhu manor project is currently under construction. The developer of the project is Hunan Haobo life Service Co., Ltd. (hereinafter referred to as Hunan Haobo). According to Tianyan survey, Hunan Haobo was established on November 7, 2019 with a registered capital of 490 million yuan. In terms of registration time and registered address, it is exactly the same as that of Hengda new energy automobile (Hunan) Co., Ltd.

From the perspective of equity relationship, Tianyan information shows that Evergrande new energy automobile (Hunan) Co., Ltd. was newly established on November 7, 2019, with a registered capital of 1 billion yuan, and its controlling shareholder is Hengda new energy automobile investment holding group. Both Hunan Haobo and Hengda new energy automobile (Hunan) are 100% holding subsidiaries of Hengda new energy automobile investment holding group.

Picture outside view of Hengda Yuhu manor in Hunan (Xiangyin)

Nantong project of Hengda new energy vehicles (Jiangsu) Co., Ltd. is a construction project with an annual output of 200000 sets of auto parts (the first phase of 100000 sets), which was registered in Jiangsu Nantong Sutong science and Technology Industrial Park on October 23, 2019.

According to the official account of Su Xitong Technology Industrial Park, November 4th, the first phase of the Hengda new energy vehicle project was basically completed, and some of the plants were under construction.

On the morning of November 27, a reporter from CFA visited Nantong project site of Hengda new energy vehicle (Jiangsu) Co., Ltd. At the scene, the reporter learned that Nantong project, the first three phases of the plot covers an area of about 1108 mu.

Figure: Nantong project site of Hengda new energy vehicle (Jiangsu) Co., Ltd

According to the field observation of the reporter from the financial press on that day, the gates of the two entrances of Jiangrong road and Haiwei road of the project were closed, and no vehicles were allowed to enter or leave. However, the whole plant area was surrounded by a high blue metal protective curtain wall.

Its raining today, so theres not much construction. The guard at the construction site told the associated press of finance. The reporter of the financial association noted that there was an electronic sign at the entrance that said, there are 17 employees today. Among them, there are 1 bricklayer, 2 general workers, 9 team managers, 1 electrician, 2 gatekeepers and 2 installers.

In addition, two sections of Nantong project are under construction. The construction company of bid section 1 is Jiangsu Nantong No.3 Construction Group Co., Ltd., and the entrance is at Jiangrong Road (formerly known as HAIBA Road), and a guard is stationed at the entrance guard box. At present, the construction site of the first bid section has been hardened, and many steel frame structures in the plant area have also been preliminarily formed.

Figure entrance of bid section II of Nantong project site

At present, there has been no construction for two or three days. One is rain, the other may be material problems. There is often no material here, and there is a pause from time to time. The entrance guard of the bid section told reporters.

Figure: middle section of Jiangrong Road, Nantong project site

For the current situation of Evergrande auto Nantong project, the reporter from the financial association contacted the relevant competent departments of Nantong City, but there was no response.

However, to the reporters surprise, on September 27 this year, Yupeng life service (Jiangsu) Co., Ltd., a subsidiary of Evergrande new energy automobile investment holding group, also won a residential land sold by Nantong City, Jiangsu Province with a base price of 864 million yuan.

The new energy vehicle industry is in the ascendant, and various new forces of car making have been fighting for many years, and just ushered in the dawn of the industry. For the layout of various manufacturers, the financial association will continue to pay attention to it.

Source of this article: Chen Hequn, editor in charge of CFA_ NB12679