Focus ｜ NIO IPO valuation has shrunk sharply, a list of recent car market news
NIO IPO valuation plummets
On August 21, during the IPO roadshow, NIO was exposed that its valuation asking price was only $80- 10 billion, the difference between the previous valuation of $37 billion was as high as $29 billion. However, it is worth noting that NIO internally set its price-to-earnings ratio target for the next five years at 10x. According to NIO’s valuation asking price in the IPO roadshow, if NIO wants to achieve the 10x price-to-earnings ratio target in 2023, NIO must complete a net profit of $8- 1 billion that year.
Speeches from all sides
AutoR
In any case, the capital drama of NIO will continue, but it may be really difficult for NIO, which is at the forefront of new car manufacturers, to go public. Just as some industry insiders commented on the NIO IPO before, "If NIO can’t go public at this time, it may never go public."
Electric Vehicle Times Network
Although the valuation has shrunk by 29 billion dollars, it has not affected NIO’s determination to choose to go public. Some people believe that NIO is originally a capital attribute company, "Li Bin’s embarrassment may be that if it is not listed, it will soon reach the end." There is not much time left for NIO, and likewise, there are not many opportunities and time left for other new car makers.
Electric state
According to NIO’s IPO filing, NIO’s revenue in the first half of this year was only 45.991 million yuan. On the one hand, losses continue to grow, and on the other hand, net profit continues to be sluggish. If NIO wants to achieve the goal of "10 times the price-to-earnings ratio in five years", it will face tremendous pressure.
Brother Wen’s comment
In fact, the author has said in the previous article that NIO may be "devalued". On the one hand, the overseas market environment is very unfavorable to Chinese stocks. On the other hand, NIO’s business model may not be recognized by overseas investors. Finally, NIO has not been fully delivered yet, which must also make these investors hesitate. And these are the direct reasons for NIO’s "devaluation".
Although the news has not been officially confirmed yet, there is no wind and no waves, and NIO’s road to listing must be very difficult. And according to NIO’s current situation, not to mention delivery problems, even delivery will face the test of the market, so in my opinion, NIO wants to set a price-to-earnings ratio target of 10 times in the next five years, which is expected to be very difficult…
Dongfeng Peugeot Wu Shaoge resigns
Recently, some media learned from Shenlong Company that Wu Shaoge, the former deputy general manager of Dongfeng Peugeot, has officially resigned, and the specific whereabouts have not been determined.
Wu Shaoge, former deputy general manager of Dongfeng Peugeot
Wu Shaoge entered the automotive industry in 2002 and has successively served as the senior manager of Volkswagen Group China Marketing Department, the director of FAW-Volkswagen Brand and Public Relations, the head of the marketing department of FAW-Volkswagen Sales Co., Ltd., the vice president of BMW Brilliance, and the head of the marketing department of Dongfeng Peugeot. Wu Shaoge was promoted to the deputy general manager of Dongfeng Peugeot in March last year. He has made achievements in brand, sales, marketing and public relations communication, and product strategy. He has successfully managed more than 30 new models to be launched in China.
Brother Wen’s comment
Shenlong, as one of the earliest joint venture car companies in China, has also had great success, but it has started to decline since 2016. Last year, sales were cut in half. Among them, Dongfeng Peugeot’s sales fell by 8.22% year-on-year, and the decline was not small. It can be said to be a gloomy cloud. In the past two years, Dongfeng Peugeot’s personnel changes have also been quite frequent. Last year, Li Haigang, the general manager of Dongfeng Peugeot, and Li Nanhong, the director of the brand public relations department, left one after another. Now Wu Shaoge, the deputy general manager of Dongfeng Peugeot, has also left. In addition to poor sales performance, the reasons are not unrelated to its dealer withdrawal and the relocation of the brand marketing department
Google’s driverless car may have established a wholly-owned company in Shanghai
On August 23, according to the national enterprise credit information publicity system, a company named Huimo Business Consulting (Shanghai) Co., Ltd. registered in the Shanghai Free Trade Zone in May, and its business scope includes business information consultation, design and testing of autonomous car parts and products, and providing related supporting services.
The company is 100% owned by WAYMO LLC, a self-driving company owned by Google’s parent company Alphabet. In July this year, Shanghai said it planned to introduce Google’s self-driving and other projects to Shanghai.
Brother Wen’s comment
Google’s autonomous driving, which has been conducting road tests abroad, finally couldn’t help but extend its battle line to the Chinese market. In the field of autonomous driving, everyone only knows that Tesla has done a better job, but in fact, Google has been exposed to this field earlier than Tesla, and after years of hard work, it has made quite a lot of achievements. As the world’s largest automobile market, China’s development in the field of autonomous driving is also very rapid. Google established a company in Shanghai at this time to seize the market as soon as possible, so as not to miss the opportunity.
Xiaokang Group and Alibaba have reached a strategic cooperation
On August 23, the joint stock company of Chongqing Xiaokang Industrial Group (hereinafter referred to as Xiaokang Group) and Alibaba Group officially signed a strategic cooperation agreement. The two sides will carry out comprehensive cooperation to jointly promote the application cooperation and industrialization of digitalization, intelligence and networking in the automotive industry.
As a benchmark enterprise for strategic cooperation between the Chongqing Municipal Government and Alibaba, Xiaokang Group will jointly build an intelligent manufacturing demonstration in the automotive industry, promote the high degree of integration of the automotive industry and Internet technology, and drive technological innovation in the automotive industry. In the future, the two sides will cooperate in depth in the field of automotive intelligence and jointly promote the popularization of intelligent connected vehicles.
Brother Wen’s comment
With the changes of the times, intelligent networked cars are increasingly favored by consumers. Nowadays, not only new car makers but also traditional car companies have begun to pay attention to the development of this field. At the same time, there have been many cases of cross-border cooperation, led by the three giants of BAT. A cross-border cooperation boom has begun, while Alibaba has deep technical accumulation in the field of intelligent networking. After the Roewe RX5, which cooperated with SAIC Motor, achieved very good sales. The in-depth cooperation between Xiaokang Group and Alibaba may hatch the next RX5.