Where does miss dong's new energy empire go from here? Silver long into the mire?

According to media reports recently, the guangdong administration of securities and exchange commission disclosed that it has reported the tutoring schedule of the company to be listed, and the tutoring schedule of zhuhai yinlong new energy co., ltd. is "terminated".

"Terminate" two words, make yinlong again usher in a wave of questioning: combined with the previous capital gap problem, miss dong's new energy empire where to go, when can gree automobile debut?

The termination of IPO coaching is likely to be voluntary

In general, when the regulators force the termination of IPO guidance, there will be "hard injury" of illegal or illegal behaviors. However, according to the new energy layout of yinlong, which is very beautiful at present, insiders say that this is probably the behavior of the enterprise to give up without the conditions for listing.

But why did yulong give up its IPO all of a sudden?

"The severity of the shutdown is beyond imagination, and the impact is far beyond its own scope. To some extent, what happens to a startup is also a projection of the industry's rapid progress. This is a media personally on the wuan yinlong new energy industrial park field visit summary.

"Eager for quick success and instant benefit" is probably the biggest evaluation of all those who are not optimistic about yinlong.

From 2009 unknown to the public a small factory to now by miss dong, wang jianlin, sunshine life, wanda group, bus media and other star shareholders holdings, yinlong road I am afraid he is incredible. In 2010, it spent about 400 million Yuan to buy aotai53 of the United States. After taking a 3% stake, yinlong has received mixed reviews for its expertise in stone-based nanoballing, energy storage and lithium titanate batteries. Industry analysis of the battery technology is not very suitable for electric cars, but miss dong is paranoid about love yinlong. Before dong's IPO, zhuhai yinlong had undergone 10 changes in equity ownership and seven capital increases, according to the company's asset appraisal statement. At the same time, in his own name, wang jianlin, liu qiangdong and other people blood transfusion 3 billion yuan.

Ms. Dong's stake accelerated yinlong's expansion, signing seven new energy industrial park projects totaling about 80 billion yuan. The industrial parks are located in zhuhai, handan, shijiazhuang, chengdu, lanzhou, tianjin and nanjing.

But yinlong, which has risen to fame and fortune, has exposed more and more problems: its subsidiary, hebei yinlong new energy co., was exposed by the media in May this year as having excess capacity in electric car batteries and some employees leaving their jobs. In April, gree electric appliances' annual report revealed that its 2017 zhuhai yinlong net profit dropped 67 percent year-on-year. 94%, 2. 6.8 billion yuan; Over the past three years, zhuhai yinlong reported new energy subsidies of 55.5 million yuan and 100,000 yuan. 1.6 billion yuan, 2.1 billion yuan. 3.5 billion yuan...

At present, the repayment schedule of the arrears of yinlong is still advancing. But what yinlong is exposing right now is not just a lack of money, but also a lack of technology.

As the IPO nears, yinlong has finally had to shed the mask of "high valuation".

Miss dong's inflated dream of building a car

From air conditioners to refrigerators, small appliances, mobile phones and now new energy cars, dong's entrepreneurial dream is worthy of respect.

Cross-border investment, cross-border entrepreneurship, this is a road many enterprises will go: miss dong signed a billion gambling lei jun entered the high-end air conditioning sector; Wanda starts investing in healthcare; Country garden is focusing on education...

They are either in order to carry on the enterprise transformation, or in the existing high-quality business growth point in the rapid expansion.

From the perspective of gree's layout, its revenue is monotonically dependent on the air-conditioning segment. It has a low market share in refrigerators, small household appliances, mobile phones and other markets, and its product structure is relatively simple. However, the new energy automobile industry is still a blank in gree group.

How enthusiastic is miss dong? Last September, dong mingzhu and gree team took a stake in tianjin faw xiali, which attracted a lot of speculation. After that, dong spent more than 5 billion to buy the equity of changyuan group, a new energy automobile material manufacturer.

But miss dong yinlong reported more and more subsidies, subsidies are gradually diminishing policy.

From the financial statements in recent years, it can be found that from 2014 to 2016, the revenue of zhuhai yinlong was 2. 4.8 billion yuan, 3.8 billion yuan. 6.2 billion yuan, 78 billion yuan. 9.8 billion yuan with net profit of -2. 6.6 billion yuan. 1.6 billion yuan, 8. 3.6 billion yuan. However, in the past three years, zhuhai yinlong reported new energy subsidies of 55.5 million yuan and 100,000 yuan respectively. 1.6 billion yuan, 2.1 billion yuan. 3.5 billion yuan.

With the new energy vehicle subsidies will decrease year by year. According to the document, the subsidy standard for all models except fuel cell vehicles in 2017-2018 has dropped by 20 percent from 2016. Subsidies for 2019-2020 will be reduced by 40% from 2016 levels. For the perennial "eat subsidies" of yinlong, the straw is afraid to be gone.

Car building: gree dreams, huawei dreams?

Huawei and gree, the state-owned enterprises on both sides of the dream, have to be compared.

A few days ago, huawei tested its "huawei car" in the test field of Shanghai pudong manka science and technology park. Although most people joked that it was actually a modified tesla ModelX built by huawei, which removed the main hardware of tesla's electric car and installed its own control system. But the huawei bulls are legion.

Huawei has a rather mysterious "2012 laboratory" inside, and its Internet of vehicles business department has been committed to electric vehicles, autonomous driving, automobile communication and other projects. As early as 2013, huawei has established cooperation with dongfeng, gac, saic and other auto companies in the Internet of vehicles, and provided auto communication module production services for audi, Mercedes, Citroen and other foreign companies.

Moreover, huawei has always been strong in research and development capacity and good capital reserve. Huawei ranks sixth in the world and is the highest-ranked company in China, according to a bloomberg report on global corporate r&d spending in 2017.

Although the owner of huawei is xu zhijun, the rotating chairman of huawei who is in charge of strategy, who is extremely fond of electric cars, ren zhengfei, who retires from the company, has not given his consent for the time being. However, if huawei enters the field of automobile with the attitude of studying mobile phones, it will become an important theme of diversified layout in the future and change the pattern of automobile.

"I hope you can enjoy the delicious food gree brings to you by riding in a car made by gree and using gree's mobile phone to control the air conditioner temperature at home."

In those years, dong's dream of building a car has long been known around the world.

With the national chip technology in hand and the advantages in the mobile phone business, huawei built the car on this day, I believe it has made dong start thinking.

conclusion

Dong, 60, has created gree electric appliances with a market value of nearly 100 billion yuan, but her ambition remains to create a bigger empire.

Everyone likes to eat a big cake, but you can't eat a fat man. Think of sun hongbin at that time because Letv and fell into their own cycle can not extricate themselves, miss dong whether also fell into the quagmire of yinlong?

The page contains the contents of the machine translation.