Figure/Polar Krypton Automobile

After the first disclosure of the proposed split of Krypton in October this year, Geely Automobile (0175. HK)'s split plan has made new progress.

On the evening of December 13, Geely Automobile announced at the Hong Kong Stock Exchange that on December 7, New York time, Geekrypton Automobile submitted a draft registration statement for possible initial public offering to the US Securities and Exchange Commission on a confidential basis.

Geely Automobile did not disclose the expected amount of capital raised this time. The IPO must be approved by the relevant departments, and the final decision of the company and Ekrypton Automobile cannot guarantee that the spin off listing will take place or when.

In terms of production and sales, on December 1, ZEEKR released the latest delivery record of November. According to the information, 11011 vehicles were delivered in November, an increase of 447.3% year on year and 8.8% month on month, with a total cumulative delivery of 66611 vehicles.

Battery Network also noted that among the new energy brands cultivated by traditional automobile enterprises, in addition to Jikrypton, there are also Landu, E'an, Avita, Zhiji and other brands that are actively financing and seeking independent listing.

On November 18, Lantu Automobile announced that it had completed round A financing of nearly 5 billion yuan, with a post investment valuation of 30 billion yuan. There are 10 investors in this round of financing of Landu Auto, the joint leading investors are the state-owned enterprise mixed transformation fund and Bank of China assets. The following investors include three state-owned capitals, namely ICBC Investment, ABC Investment and BOCOM Yuanjing, three local state-owned capitals, namely Wuhan Economic Development Fund, Hubei High Quality Development Fund and ZXLH High Investment, two industries of Ganfeng Lithium and Xinwangda, and private capital.

On the evening of October 20, GAC Group disclosed the latest progress of round A financing of GAC E'an. At present, all strategic investors have completed the signing and payment of financing pilot agreement. A total of 53 strategic investors were introduced in the round A financing, with a total financing amount of 18.294 billion yuan, breaking the record of the largest single private financing in the domestic new energy vehicle industry. After the completion of this capital increase, the registered capital of GAC E'an has increased from 6.421 billion yuan to 7.803 billion yuan, and the proportion of GAC Group's direct and indirect total shares in GAC E'an has changed from 93.45% to 76.89%, which is still the controlling shareholder. The valuation of GAC Aian is about 103.2 billion yuan, which is the highest valuation of the current domestic unlisted new energy vehicle enterprises.

On the evening of August 2, Chang'an Automobile announced that Avita Technology, a joint venture of the company, had introduced investors through public listing in Chongqing United Property Exchange, and finally determined six investors, with a total capital increase of 2.547 billion yuan. After the completion of this round of financing, Avita's post investment valuation is nearly 10 billion yuan. "The new round of fundraising will further accelerate the R&D and design of Avita's future products and the development of its market brand, and the second new car is also being promoted in an orderly manner."

On August 1, SAIC Group's Zhiji Automobile announced that it had completed the signing of the round A equity financing agreement. After the successful completion of the first round of market-oriented financing, the post investment valuation of Zhiji Automobile will reach nearly 30 billion yuan. This round of financing was led by BOCOM Capital Management Co., Ltd., SAIC Group continued to make additional investment, and also introduced ICBC Investment, National Green Development Fund, Friends Venture Capital and other investment institutions.

Among the new forces of car building, Weilai Automobile, Xiaopeng Automobile and Ideal Automobile were listed in the United States successively, and then successively landed on the Hong Kong Stock Exchange. Weilai was also successfully listed on the main board of the Singapore Stock Exchange in May this year, becoming the first Chinese enterprise to be listed in New York, Hong Kong and Singapore at the same time.

In September this year, ZeroRun Auto was also listed on the main board of the Stock Exchange of Hong Kong, becoming the fourth auto company to land on the Hong Kong Stock Exchange among new forces. At the same time, Zero Running Automobile is also the first stock listed in Hong Kong by domestic entities.

In addition, a number of new car making forces are also accelerating financing and blood supply, and are also expected to sprint to the capital market in the future: in December, it was reported that Weima Automobile was planning to be listed in Hong Kong through backdoor "Apollo Smart Travel", and Weima Automobile had previously submitted its IPO application to the Hong Kong Stock Exchange; In September, according to the announcement issued by Huaxia Boya, an American stock education and training enterprise, Aichi Automobile plans to go public in the United States by backdoor Huaxia Boya, and its valuation is expected to be as high as US $6 billion; In July, Nezha Automobile announced that the company's D3 round of financing had been closed, and the amount of this round of financing exceeded 3 billion yuan. With the previous D1 round and D2 round of financing, the company's D round of financing had accumulated nearly 10 billion yuan; In January, Baidu's intelligent car brand Jidu Automobile (now renamed Power Airlines) announced that it had completed round A financing of nearly 400 million dollars.

According to the latest data released by the China Automobile Association, from January to November, the production and sales of new energy vehicles in China reached 6.253 million and 6.067 million respectively, a double year-on-year growth and a market share of 25%.

"Personally, I have always maintained an optimistic attitude towards the development of the new energy vehicle industry!" According to Yu Qingjiao, the Secretary General of Zhongguancun New Battery Technology Innovation Alliance and the Director General of the Battery 100 Association, it is optimistic that the sales of new energy vehicles in China is expected to reach 7 million this year; It is conservatively estimated that 9 million vehicles will be sold in 2023. Under optimistic circumstances, 10 million vehicles are expected to be sold annually.

Wu Hui, General Manager of the Research Department of Ivey Economic Research Institute and President of the China Battery Industry Research Institute, also said that the trend of new energy vehicle development has been determined. It is predicted that the global sales of new energy vehicles will reach 50 million in 2030, driving the demand for power batteries more than 3.5TWh. The actual situation may be more than expected.

At the same time, with the increase of market penetration of new energy vehicles, the withdrawal of national new energy subsidies from the historical stage, and the superposition of fluctuations in the prices of battery materials and other parts, the competition in the car market will become more intense. Therefore, auto enterprises will actively finance "blood supplement" through various channels, and more and more new energy brands will actively embrace the capital market to improve their competitiveness.