The Market Value of Evergrande Health

2065438+On June 25th, 2008, Evergrande spent HK$ 6.746 billion to acquire Hongkong Ying Shi Company, and indirectly acquired Smart? King Company (FF wholly-owned) holds 45% shares, becoming the largest shareholder of the company, and officially announced the opening of the road to cross-border car manufacturing. Although we broke up not long after this honeymoon, the first step was to join hands with Lao Jia, the originator of "PPT building a car" and "returning to China next week", which also doomed Evergrande not to be too calm on the road of building a car.

At that time, the clock was turned back to noon today (August 3rd) 12. Under the guidance of Xu Jiayin's road of "buy, join, circle, be big and be good", Evergrande finally welcomed its own new products, six at a time. On the stage, Xu Jiayin was in high spirits, introducing his products to media friends and guests. From Hengchi 1 to Hengchi 6, the product matrix covers passenger cars such as cars, SUVs and MPVs from A-class to D-class. Bold colors, smooth lines and avant-garde shapes can be said that each car is very distinctive and slightly proud. In addition, the interior, specific performance and mass production time of the model were not introduced too much at this conference, which also made many netizens and the media continue to be skeptical about Evergrande.

For this new car launch conference, Evergrande didn't have much warm-up before, which was inconsistent with its always high-profile style, but Evergrande, which was used to not playing by routine, still earned enough public attention. Six new cars were unveiled at one time, which may be a rare scene in the history of the automobile industry for a hundred years. Moreover, unlike other new forces focusing on a certain vehicle market segment, Evergrande has taken a different path from the beginning, and the whole line of products has been spread to various market segments. Although Evergrande has covered the whole industrial chain such as battery, vehicle manufacturing, powertrain, automobile sales, intelligent charging, etc. in the past two years through shareholding and acquisition, it still needs market inspection to achieve integration.

Every important moment of Evergrande Automobile is accompanied by people's doubts. Is Evergrande serious about making cars? Is Evergrande building a car for enclosure? Perhaps no one can give a definite answer to these questions except Evergrande itself. However, judging from the actual actions in the past two years, Evergrande is also showing its determination to build a car to the public. Since the 20 18 annual report put forward the strategic policy of four major industrial patterns led by new energy vehicles, Xu Jiayin has also set the goal of becoming the largest and strongest new energy vehicle group in the world within three to five years. Evergrande's "buy, merge, circle, expand and do well" model was officially launched: 65.438+0.449 billion shares were invested in Guanghui Group, one of the largest distributors in China, paving the way for sales; 131100,000 USD to acquire NEVS and obtain the qualification to build cars; 65.438+0.5 billion USD invested in Koenigsegg to develop and produce top-class new energy vehicles; 65.438+0.06 billion invested in Kanai New Energy to acquire power battery technology ... To paraphrase Xu Jiayin, we really buy everything we can, and if we can't buy it, we will cooperate, and it is bound to achieve overtaking in corners through money. Xu Jiayin even told the story of his adulthood when he was the workshop director more than 30 years ago, which was related to the manufacturing industry and showed his determination to build a car.

Another reason for Evergrande's determination to build a car may be that in recent years, influenced by the macro environment and policy regulation, the real estate industry has retreated from the golden age to the silver age, and it is urgent to find breakthroughs in other fields. As a new energy vehicle field with the scale of real estate, it not only has broad prospects, but also is favored by capital. Evergrande Health (renamed Evergrande Automobile on July 27th, and its main business changed to new energy vehicles) fell by 7% in early trading, and once rose by 10% after the new car was released. By the close of the day, its market value was HK$ 320,654.38 billion, making it the highest car enterprise in China. And it is 400 billion higher than China Evergrande, the controlling party of Evergrande Health.

Is it okay to build a car with money? Obviously not. The threshold of automobile industry is very high, and it is an extremely complicated industry. It has its own development law, which requires not only a lot of money, but also the accumulation of time and technology, so most people dare not touch it easily. As peers in the real estate circle, Huaxia Happiness and Baoneng have given Evergrande a lesson in advance: one is to withdraw from the new energy field; One is half dead. It also proves from the side that the play of real estate is not necessarily applicable to cars. This is why many media and netizens look down on Evergrande.

In addition, according to the goal put forward by Evergrande, Evergrande's competitors are not only underage new car-making forces, but also traditional car giants with money and technology such as Mercedes-Benz and BMW. They all have what Evergrande has and what Evergrande does not have. So why are these giants being surpassed?

Moreover, judging from the situation of new forces in building cars in recent years, it also proves that new energy vehicles are a long-term burning industry. Even if Evergrande is rich and powerful, it may not be able to bear long-term losses. So according to Xu Jiayin's goal, it is to share the cost in mass production. However, with the transformation and electrification of these traditional giants, this goal will face great challenges.

Finally, the appearance of the new car indicates that Evergrande has taken a solid step, but the next situation will be more severe and dangerous than now. How to become "big, good and good" by "buying in buy buy, closing positions and turning around"? This requires not only capital, but also the ability of industry integration to support it. One wrong step can wipe out the previous efforts.

20 10 when Xu Jiayin shouted the goal of "Super League in three years and AFC Champions League in five years", even Evergrande fans thought it was a fantasy, but what happened afterwards was clear to everyone. Now, the logo of Hengchi is very similar to the emblem of Evergrande Football Club. Xu Jiayin, 62, definitely hopes that the success of Evergrande Football can be replicated again.

People who achieve great things are often controversial. Tesla is, and perhaps Evergrande is.

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