Report summary:
Tesla, Byd Company Limited(002594) and other new energy vehicle enterprises announced price increases. Recently, a number of car companies announced an increase in the price of their new energy models. On March 10, Tesla China raised the price of model 3 high-performance version and model y long-range and high-performance version by 10000 yuan; On March 15, the prices of some model 3 and model y increased by about 5%, and the high-performance version of model 3 and the long-life version of model y increased by 18000 yuan; On March 17, the price of model y rear wheel drive version increased by 15060 yuan. On March 15, Byd Company Limited(002594) announced that the official guidance price of new energy models related to dynasty.com and ocean.com would be increased by 3 Jointo Energy Investment Co.Ltd.Hebei(000600) 0 Yuan due to the continuous sharp rise in the price of raw materials. On March 17, Chery New Energy announced that the price of xiaoant would rise by 3 Shenyang Machine Tool Co.Ltd(000410) 0 yuan. On March 18, Xiaopeng automobile said that due to the continuous sharp rise in the price of upstream raw materials, it would increase the price of models on sale from March 21, ranging from 10100 to 20000 yuan. On March 20, Weima said that due to the continuous sharp rise in the price of raw materials, tight supply of suppliers and other factors, the price of models on sale has increased by 70 Lingyi Itech (Guangdong) Company(002600) 0 yuan since March 28.
Zero run submits the listing application. On March 17, Zhejiang lingpao Technology Co., Ltd. (hereinafter referred to as lingpao) submitted a listing application to the Hong Kong stock exchange, with China International Capital Corporation Limited(601995) , Citigroup, JPMorgan Chase and CCB international as the co sponsors. According to the prospectus, 40% of the IPO will be used to expand the category of intelligent electric vehicles, expand the R & D investment in intelligent technologies such as team and automatic driving, and the rest will be used to improve production capacity and brand awareness. In addition, the prospectus disclosed the revenue of Zero run in recent years. From 2019 to 2021, the total revenue of zero running is RMB 169 / 6313 / 3132 million respectively. According to the 2.0 development strategy and goal released by Zero run, in the next five years, it will launch new cars including cars, SUVs, MPVS and other models at the rhythm of 2-3 models per year, covering two power systems of pure electric and incremental program, and strive to achieve the goal of selling 800000 vehicles in 2025. In 2022, Zero run will release four new models and will enter the overseas market in October this year.
Byd Company Limited(002594) , Faurecia joint venture set up a subsidiary in Xi’an. According to the enterprise investigation, Xi’an Faurecia Auto Parts Co., Ltd. was officially established on March 14 with a registered capital of 50 million yuan. The new company mainly develops, produces, assembles, sells and delivers auto seat products and related parts of products covering the whole car chair, seat frame, seat foam and seat cover. According to the equity penetration of enterprise investigation, the company is wholly-owned by Shenzhen Faurecia Auto Parts Co., Ltd., which is jointly held by Faurecia and Byd Company Limited(002594) with equity accounting for 70%: 30%.
Risk tip: the macro economy is less than expected, and the car sales are less than expected.
