On June 1, the China Securities Regulatory Commission issued an approval document, approving SST Qianfeng (sh600733) to carry out asset replacement and inject BAIC New Energy capital into it. At the same time, it approved its raising of supporting funds not exceeding 2 billion yuan. This means that the process of BAIC New Energy's backdoor listing has been further advanced. Xu Heyi, chairman of BAIC Group, previously stated that BAIC New Energy will be listed as early as June this year. After approval by regulatory authorities, BAIC New Energy's backdoor listing will enter the practical stage of asset delivery and it will soon become my country's first new energy vehicle listed company. While BAIC New Energy is successfully carrying out its listing plan, China's new energy vehicle market is entering a more competitive stage. At the same time, new energy vehicle companies will also face the risk of subsidy reduction and net profit decline. China began promoting new energy vehicles in 2009. After nearly 10 years of market cultivation, Chinese domestic auto brands have basically completed their new energy vehicle layout. At the same time, the opportunities for electrification and intelligent transformation of the automotive industry have spawned a group of new car manufacturers specializing in the production of electric vehicles, such as Weilai, Weimar, and Xiaopeng. These companies will gradually launch their products to the market starting this year. Influenced by the new energy vehicle points policy, foreign automakers have also begun to increase their efforts to deploy new energy models in China. In 2017, BAIC New Energy sold 103,199 vehicles, making it the company with the highest sales of pure electric vehicles in the Chinese market. However, BAIC New Energy also faces serious shortcomings, with a single development path for pure electric technology. As subsidies for new energy vehicles gradually decline, the cost pressure brought about by the reduction in subsidies will inevitably be transmitted to the sales end, and the retail price of electric vehicles will face a certain increase. After the subsidy is withdrawn, it remains to be seen how consumers will choose between pure electric vehicles and plug-in hybrid vehicles. In addition, BAIC New Energy's achievements in the field of pure electric vehicles are also to some extent blessed by Beijing's new energy vehicle industry policies. Plug-in hybrid vehicles are not eligible for subsidies in Beijing, so new energy vehicle consumers in Beijing can only choose pure electric vehicles. As the Beijing market becomes increasingly saturated, BAIC New Energy's regional dividend will gradually weaken. BAIC New Energy is the core of BAIC Group's electrification transformation. With the listing of BAIC New Energy, BAIC Group's comprehensive new energy strategy will also be launched. BAIC New Energy is responsible for the production of pure electric models, and BAIC Motor will focus on hybrid technology and fuel cell technology. BAIC Group plans to stop selling traditional fuel vehicles in Beijing by 2020 and stop selling traditional fuel vehicles nationwide by 2025. As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity. |
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