Zhejiang Founder Motor Co.Ltd(002196) (002196) on January 25, the company disclosed the plan for non-public offering of shares in 2022. The total amount of funds raised by the company for non-public offering of shares shall not exceed 1 billion yuan. After deducting the issuance expenses, the net amount of funds raised is intended to be used for “the annual output of 1.8 million new energy vehicle drive motor project”, “the expansion project of Lishui Fangde Zhiqu Application Technology Research Institute” and supplementary working capital, The issuing objects include Zhuoyue automobile, the controlling shareholder of the company.
the controlling shareholder intends to participate in the subscription of
Zhejiang Founder Motor Co.Ltd(002196) disclosed that the number of A-Shares in this non-public offering does not exceed 20% of the total share capital of the company before this offering. Before the issuance, the total share capital of the company was 499 million shares, that is, the upper limit of the number of shares issued this time was 99.889 million shares (including this number), and the total amount of funds raised did not exceed 1 billion yuan. Among them, Zhuoyue automobile plans to subscribe in cash at the same price as other subscription objects, and the proposed subscription amount is not less than 100 million yuan (including the principal amount) and not more than 300 million yuan (including the principal amount).
According to the data of China Automobile Industry Association, the sales volume of Shanxi Guoxin Energy Corporation Limited(600617) vehicles reached 3.521 million units in 2021, an increase of 157.5% over 2020. The unexpected growth of sales volume of new energy vehicles has accelerated the growth of the driving motor market of new energy vehicles. Zhejiang Founder Motor Co.Ltd(002196) said that the sales of new energy vehicles increased more than expected, and the market prospect of new energy drive motor is broad.
Evtank predicts that the shipment volume of Shanxi Guoxin Energy Corporation Limited(600617) automobile drive motors will exceed 10 million units in 2025. The driving motor of new energy vehicles is growing rapidly. In addition to the higher than expected growth in the production and sales of downstream new energy vehicles, the gradual increase in the proportion of dual motor 4WD models will also further expand the demand for driving motors. Tesla Model3 / y, Byd Company Limited(002594) · Han EV, ideal one, Xiaopeng P7 and other models have launched the model version of “dual motor 4WD”.
“With the gradual increase of the company’s investment, the financing mode mainly based on debt financing has led to the rapid increase of the company’s asset liability ratio, and the proportion of interest bearing liabilities remains high, which has increased the company’s financial risk and restricted the company’s financing ability.” Zhejiang Founder Motor Co.Ltd(002196) also admitted that the company is facing working capital pressure. At the beginning of 2019, the funds raised by the company’s previous non-public offering were in place. Due to the limited net amount of funds raised, it was difficult to alleviate the pressure of working capital faced by the company as a whole. As of September 30, 2021, the book monetary capital balance of the company was only 276 million yuan.
Zhejiang Founder Motor Co.Ltd(002196) believes that this fixed increase fund-raising is to meet the needs of the development of the industry. “This non-public offering is conducive to continuous increase in R & D investment, and focuses on the development of integrated products with advanced market for energy saving and new energy vehicles, and the technological transformation of product manufacturing automation equipment, so as to enhance the market competitiveness of the company’s products.” Zhejiang Founder Motor Co.Ltd(002196) indicates.
it is expected that the performance of 2021 will turn from loss to profit
Zhejiang Founder Motor Co.Ltd(002196) mainly engaged in the R & D, production and sales of micro and special motors, new energy vehicle drive motors, automotive electronics (engine controller) and home appliance intelligent controllers. According to the statistics of the first electric Research Institute, in 2021, thanks to the hot sales of Hongguang miniev, Xiaopeng P7 and other models, Zhejiang Founder Motor Co.Ltd(002196) supporting motors reached 230000, second only to Byd Company Limited(002594) , Tesla and other OEMs with self supplied drive motors.
On January 13, Zhejiang Founder Motor Co.Ltd(002196) released the performance forecast. It is estimated that the operating revenue will be 1.85 billion yuan – 1.9 billion yuan in 2021 and 1.143 billion yuan in the same period in 2020; The net profit was 18 million yuan to 27 million yuan, with a year-on-year increase of 102.83% to 104.24%, turning losses into profits.
Zhejiang Founder Motor Co.Ltd(002196) it has been disclosed that the company’s mass-produced drive motor is mainly used in SAIC GM Wuling Mini EV, Xiaopeng P7, Geely Dihao EV and other models. The new energy vehicle drive motor developed by the company for Weiran power, SAIC passenger car and Chery automobile is progressing smoothly and will be mass produced in the fourth quarter of 2021. In addition, the company has also obtained the fixed points of SAIC GM Wuling gsev project and two hybrid projects, and the development of other new customers and new projects is also progressing smoothly.
Zhejiang Founder Motor Co.Ltd(002196) said in the performance forecast that in 2021, benefiting from the rapid development of the Shanxi Guoxin Energy Corporation Limited(600617) automobile market, the production and sales volume of the company’s new energy vehicle drive motor increased significantly compared with the same period of last year, and the company’s operating revenue increased by more than 61.92% compared with the same period of last year, including the new energy vehicle drive motor business increased by more than 250% compared with the same period of last year.
Zhejiang Founder Motor Co.Ltd(002196) said that the company will continue to increase investment in technology research and development, continue to invest in the new technology direction of 800V high-voltage motor, flat wire motor, oil-cooled motor and other new energy drive motors, and has obtained the 800V high-voltage motor development contract and project fixed point of a new energy vehicle head enterprise.
