Recently, Evergrande Auto released its 2023 interim results announcement. The financial report shows that as of June 30, 2023, the company's total assets were 42.852 billion yuan, total liabilities were 75.692 billion yuan, and Hengchi 5 delivered more than 760 units. In 2018, Evergrande "changed lanes and overtook" and entered the new energy vehicle market. At that time, Xu Jiayin believed that this "car-making dream" would definitely come true. Three years later, Hengchi 5 started delivery, and Xu Jiayin's dream came true. Now, there is still a big gap between this dream and reality. After 4 years of car manufacturing, the company has a debt of nearly 75.7 billion yuan According to the financial report, as of June 30, 2023, Evergrande Auto's total assets were 42.852 billion yuan and its total liabilities were 75.692 billion yuan. Liabilities have far exceeded total assets. Evergrande Auto's liabilities mainly come from three aspects: loans, trade and other payables, and other liabilities. Among them, loans and trade and other payables have increased. In terms of borrowing, as of June 30, 2023, Evergrande Auto's borrowings were 26.997 billion yuan, an increase of 1.012 billion yuan from 25.985 billion yuan as of December 31, 2022. The financial report shows that part of the loan is secured by the Group's property and equipment, land use rights, properties under development and equity interests of certain subsidiaries of the Group. As of June 30, 2023, the average annual interest rate of the loan is 7.1% (December 31, 2022: 7.65%). In terms of trade and other payables, as of June 30, 2023, Evergrande Auto's trade and other payables were 42.273 billion yuan, a year-on-year increase of 11.477 billion yuan from 30.796 billion yuan as of December 31, 2022. In terms of other liabilities, as of June 30, 2023, Evergrande Auto’s other liabilities were RMB 6.422 billion. Revenue increased more than five times in the first half of the year, with a loss of 6.873 billion Regarding the current performance, the financial report shows that Evergrande Auto's revenue in the first half of 2023 was 155 million yuan, a year-on-year increase of 540.98%, mainly due to the start of sales of Hengchi 5. While revenue grew, Evergrande Auto's losses also expanded. During the reporting period, Evergrande Auto recorded a loss of 5.812 billion yuan from continuing operations, an increase of 50.09% year-on-year, mainly due to the provision of impairment of inventory, plant and equipment, and intangible assets in accordance with the principle of prudence. During the reporting period, Evergrande Auto recorded a loss of RMB 1.061 billion from discontinued operations held for sale, which was sold on May 12, 2023. In summary, the Group recorded a loss of RMB 6.873 billion during the reporting period. 760 vehicles delivered in half a year Power battery research and development stopped In 2018, Evergrande announced that it would build cars. In July 2022, Hengchi 5 was launched for pre-order. The financial report shows that among all the pre-sale orders for Hengchi 5, more than 760 units were delivered during the reporting period. In other words, the delivery volume of Hengchi 5 in half a year is less than 1,000. Compared with the delivery volume of thousands or tens of thousands per month of a number of new car-making forces, there is indeed a big gap. Evergrande Auto stated in its financial report that it will make every effort to promote the mass production and delivery of Hengchi 5 in the future. The company will continue to lay a solid foundation for research and development, while accelerating the development of core technologies to lead the development of smart electric vehicle technologies, and continue to focus on the development of new models. According to the financial report, Evergrande Auto has 457 scientific researchers and has applied for 3,512 patents in similar research fields worldwide, of which 2,715 have been granted patents. Evergrande Auto stated that based on the group's financial situation, during the reporting period, the group concentrated its resources on the complete vehicle field, and the research and development of power batteries and base construction were stopped. The domestic new energy vehicle industry has entered the knockout stage in 2023. Under the huge debt, how far can Evergrande go on the road of car manufacturing, and whether Xu Jiayin's dream of car manufacturing can be fulfilled, remains unknown. From TechWeb |
<<: 5.5-inch iPhone 6 is not available even if you have money
>>: iPhone 6 can be instantly turned into a brick if stolen
[[130953]] The reason why I found this article af...
After a series of uninterrupted radio and televis...
It's the time for the college entrance examin...
Over the past 30 years, when Chinese companies ha...
The cost of big search has been quite good recent...
When it comes to community operation and manageme...
I have become more and more lazy recently. I am t...
How to achieve marketing demands through corporat...
Not long ago, a customer consulted the editor. Si...
In the early morning of May 17th, Beijing time, A...
The original intention of the TV box was to make ...
Last week, AppLift attended PGConnects in London,...
Today is International Women's Day... NO, you...
Many people may not understand that in operations...
Recently, the global automotive industry has been...