Battery business is seriously stagnant, public bus drivers are charging too much trouble

Source: Securities Times Network reporter Mengqingjian

Dongmingzhu, who has invested heavily and is committed to Yinlong New Energy Co., Ltd. (hereinafter referred to as "Yinlong"), has recently exposed problems.

The company that was once planned to be purchased by Geli Electric for 13 billion yuan, the newly invested Luoyang, Chengdu and other bases are generally in an unfinished state, and the maintenance of production and operation activities are mainly concentrated in Zhuhai headquarters and Hebei Wu'an Park.

After the suspension of the Hebei Wu'an Park, a reporter from the Securities Times E Company investigated at the Zhuhai headquarters of Yinlong and learned that Yinlong's new energy vehicle production continued. However, behind the slogan "Big Dry Red May, All Sales", Yinlong's proud battery business has basically stagnated for more than a month, and a considerable number of employees are cleaning up during work hours.

Exploring the Yinlong headquarters: the battery business is seriously stagnant, the bus driver is too troublesome to charge

Car business started normally

Zhuhai Sanzhao Town, located on the shore of the Pearl River estuary, was once a remote and backward island. In recent years, land development has accelerated, and the main road is endless.

In recent years, the Jinwan District Government has defined the new energy industry as a core industry. There are more than 20 auto and accessories companies such as Lipaier, Mitsui, and Miyuki, but they are located on Jinhu Road, 15 kilometers from Jinwan Airport. Yinlong is the protagonist here.

In 2008, Weiyincang and Yinlong built a new energy industrial park in Zhuhai, becoming the first step for Zhuhai to enter the new energy automotive industry. In July last year, Yinlong announced that it will increase its total investment by about 20 billion yuan, build Yinlong New Energy Industrial Park and its national headquarters, plan about 2400-5000 Mu of land, and build 100 billion enterprises.

On the afternoon of May 25, Jinwan District was hot and the Securities Times E company reporter visited the Zhuhai headquarters in Yinlong. Yinlong Industrial Park, located on Jinhu Road, is a factory area built by Yinlong in the first phase of the acquisition of 330 acres of land in Jinwan District. It is a square and has a length and width of about 460 meters. There are administrative buildings, Guangtong New Energy Vehicle Research and Development, Manufacturing, and Test Factory, Yinlong Battery Production Factory, Warehouse, and Staff Quarters.

Along the Industrial Park, there are many private cars of Yinlong employees parked on the roadside of the park. Forklifts in the factory area are loading and unloading cargo, and many staff are moving around. I can see the work is normal here. Observing in the park, there are a large number of Guangtong new energy vehicles parked inside, mainly electric buses and electric buses, mainly Yinlong's external propaganda models.

At the gate of the factory, from time to time, there are vehicles out for road testing, and many of the car bodies are affixed with the words of Zhuhai Bus. Obviously, this is a vehicle prepared for Zhuhai Bus Group. According to public information, public transport groups around the country are the main customers of Yinlong. The business model is mainly leased. In 2013, Zhuhai Bus ordered 500 Yinlong pure electric buses. Since then, Shijiazhuang Bus has ordered 900 Yinlong pure electric buses.

The "Mo's" master near the factory said that it has been producing and rarely has a holiday.

Battery business orders plummeted

Zhuhai Yinlong's car production is normal. Can Yinlong stop production in Hebei Wu'an Park only stop business in local areas?

After failing to seek an interview in the park, the Securities Times E company reporter met a male employee in the "Yinlong New Energy" outfit outside the factory area, Hushun(a pseudonym), who had just walked out of the Yinlong Park and held a piece of paper. document. After the interview, he learned that he had just completed the resignation process and was in the hands of the resignation report. More than a year ago, he worked in the Yinlong battery production line.

Why did you leave at the time of "big dry may"? Hushun said the reason for the departure was that Yinlong's battery business was in trouble and revenue had almost halved in the past two months.

"Guangtong's car production is still continuing, but Yinlong's battery business is in trouble. The battery business has started very little in the past month or so. From Monday to Friday, the production line employees spent most of the time cleaning and the warehouse had a lot of batteries. Mr Hushun said workers 'incomes had fallen as a direct result of less work. Because the income is piecework, the monthly salary of the normal start last year was about 4,000 yuan, and the last two months 'income was only 2,000 yuan.

Subsequently, the Securities Times · E company reporter interviewed a worker of Hushun. He also confirmed to the reporter the problem of the battery business in Yinlong Zhuhai Park. He said: "Hebei Yinlong's battery business was suspended after a year. In March, more than 400 workers were transferred from Hebei Yinlong to Zhuhai headquarters. In March, Zhuhai Yinlong's battery line workers reached 700. But soon there is also less work here, and many employees have continued to go. Many people who came from Hebei have returned. About a few dozen people left in May, and now there are more than 300 people left. "

According to the official website of Yinlong, Yinlong currently has 9 industrial parks, including the industrial parks in Zhuhai, Handan, Shijiazhuang, Chengdu, Lanzhou, Tianjin, Nanjing, and Luoyang, as well as the United States Oteri Nano Technology Co., Ltd.

Yinlong has 1 Nissan 4000 cylindrical lithium titanate power battery production line and 1 Nissan 400 soft-packaged lithium titanate power battery production line in Zhuhai Jinwan Industrial Park; The industrial park in Wu'an, Hebei Province has five daily production lines of 2,500 and one daily production of 2,300 cylindrical lithium titanate batteries. In addition to these two places, Yinlong does not have a base for the production of lithium titanate batteries. After the continuous problems in the two places, it can be reasonably assumed that at present, the lithium titanate battery in Yinlong is basically stagnant.

Securities Times·e company reporters repeatedly called Yinlong New Energy executives, hoping to learn about the production of Yinlong new energy vehicles and battery business, but the main responsible person refused the reporter's interview request. He said: "Now accept any interviews to approve, sorry." Then hang up.

Into the cold winter

In 2016, when Gree Electric wanted to buy Yinlong, it showed investors a very optimistic development situation. At that time, Yinlong promised that the actual net profits in 2016, 2017 and 2018 will not be less than 720 million yuan, 1 billion yuan and 1.4 billion yuan, respectively.

The reality is not optimistic. In 2017, Yinlong Electric Bus ordered more than 6,000 vehicles, and actually sold 3,355 pure electric buses. In 2016, the sales data was 6,200 vehicles. The unaudited annual report shows that Yinlong's operating income in 2017 was 8.752 billion yuan, net profit was 268 billion yuan, and net profit fell by 67.94 % year-on-year.

In the first quarter of this year, Yinlong orders are still shrinking. The data shows that from January to March 2018, the sales volume of new energy passenger cars in the country increased by 328 per cent year-on-year, and the sales revenue and sales volume of the passenger car industry showed a double growth trend.

In the ranking of new energy passenger and bus sales of Chinese passenger car companies from January to March this year, Yinlong ranked seventh, with 499 vehicles and 475 vehicles respectively. In March, its new energy passenger car sales were only 68 vehicles. Bus sales are 45 vehicles. Zhuhai Yinlong's sales have suffered a cold winter.

This is quite different from the previous Gree Electric's estimate of Yinlong. Why is this happening? Yinlong new energy car competitiveness what problem? In addition to the market dispute over the technology route of Yinlong Automobile Lithium Titrate, the adjustment of the new energy vehicle subsidy policy may have a more direct impact.

Until 2016, new energy buses often receive huge subsidies. After the bus industry once became a "deception" disaster area, the government has re-combed and adjusted the subsidies for the new energy car industry. The subsidies for passenger cars were further refined. Before that, the ratio of Central and local subsidies to 1:1 was adjusted to: Local subsidies must not exceed the central government's 50 percent. Not only that, the conditions for the application of 30,000 kilometers of operating mileage in the New Deal at the same time have become stricter after the supervision.

The policy adjustment has drastically changed the situation in the passenger car market. The amount of state subsidies declared by Yinlong in 2014, 2015, and 2016 was 55.5 million, 1,016 billion yuan, and 2,135 billion yuan, respectively. In the three years, the cumulative amount exceeded 3 billion yuan, but the profits in the past few years were far lower than the above figures.

Bus Driver: Frequent charging is too much trouble

In the home base of Yinlong Zhuhai, many electric buses manufactured by Yinlong subsidiary Zhuhai Guangtong can be seen on the road.

The Securities Times · E company reporter took a bus made by Guangtong Automobile on the nearby bus platform and followed it to the Sanzhao Town Bus Terminal.

According to the bus driver, since last year, it has been driving new energy vehicles manufactured by Guangtong. The mileage of the battery support is about 30KM, and the complete route of the bus is about 20 kilometers. Basically, every time it arrives at the bus terminal, it will be charged and the charging time will be about 15 minutes.

At the bus terminal of Sanzhao Town, a reporter from the Securities Times E Company saw that all buses were new energy vehicles. In the station, there are five silver long charging piles. Each short-distance bus arriving at the station needs to be charged. The five charging potentials occupy most of the space of the entire station, but the charging still needs to wait in line if the time conflicts. You may need to wait in line for half an hour to complete the charging.

When it comes to the driving experience, a driver told the Securities Times E company reporter: "All short-line buses here use Guangtong new energy vehicles. Due to the frequency of charging, each driver is troublesome. Zhuhai Main Line Bus 201 Road is also an electric bus, but the ZTE New Energy made with it can continue to sail for more than 200 kilometers after being full of electricity, which is much more convenient. It is understood that the electric buses produced by ZTE New Energy use batteries produced in the Ningde era.

According to reports, due to the inconvenience caused by the short mileage of buses, Wu'an City, Hebei Province, has already exchanged some Yinlong electric buses running in townships for fuel buses. That may also explain the decline in orders for zhuhai's yinlong battery business. Public information shows that at present, Yinlong New Energy Bus has exceeded 50 cities operating in China. However, the stagnation of battery production also exposed the problem of market breakthroughs in the controversial technology path of lithium titanate.

Cui Dongshu, secretary-general of the National Passenger Car Market Information Association, told the Securities Times·e company reporter that Zhuhai Yinlong had encountered problems. The development of Yinlong’s fast-charged lithium titanate was bottlenecked. The technology is still not optimistic about the industry. The line problem is still the most critical investment choice, and can follow the mainstream direction to develop rapidly. At present, the mainstream new energy technology is a ternary lithium battery.

The page contains the contents of the machine translation.